Cost of zeds.

[TheZFeel]

Hey all ive been following this forum and looking out for a 240 for a few years now but from what ive seen there has been a huge jump in the cost of zeds especially the 240's.

Just out of curiousity i went through my dads collection of just car magazine from 2005, 2006 and even 2007 (not every issue) and in the older magazines it shows the cost of a 240z being a minimum 2500 upto 15000 for a clean example, however, in the new issue it shows the minimum cost of a 240z rising to 8500 with a clean example pice set at 30000.

Can anyone confirm that the cost of zed's is rising and why they are rising so fast?

At this point i no longer believe it feasible for me to buy one (my dad is looking at getting me a 05 MX-5- they are so ugly IMO) so i may need to wait another 5 years or so, but then again the price may continue to go up.

What is everyones take on the zed's and there potential future costs.

 

[Sirpent]

Zed's in my opinion are like real-estate they will continue to rise because there are less and less of them while the following such as yourself of potential Z enthusiasts is rising.

 

This forum has over 2000 members, I doubt that more than 25% actually own one that should give you some idea.

 

Cheers

 

John

[handsandwhich]

No doubt the values have gone up but....... Looking at what the asking price is and what the actual selling price is/was. Well that's a total different story.

[260Coupe]

Pretty simple

There has bee a huge resurgence in the popularity of the Zed particularly with the young guys ...........hence when demand outstrips supply ...........price goes up.

Good clean Zeds are getting harder to find and every year sees more being reclaimed by rust, poor repairs and 'bastardisation" ...........so again the price of good clean cars goes up............and then there is the cost of restoration, as the cost of restos goes up, the well restored cars goes up with it.

(eg......I spent $2500 on a bare metal repaint and rust repair in 1993..........in 2007 I spent $10k on the same repaint and further rust repairs)

 

To pay $8-$10k for a 240z or a 260z two seater (which are rarer) is now considered a "starting point" and the basis for a restoration.

$15k will get a you good runner with $25k +....... a car which needs little improvement.

If you were to do the sums and buy a cheap Zed for under $10k, you could easily spend another $15-$20k on a resto..........so why not just spend $25k + on a car already restored (given that is restored properly and body work is of high quality and not just full of bog) 

 

 

 

[TheZFeel]

If you were to do the sums and buy a cheap Zed for under $10k, you could easily spend another $15-$20k on a resto..........so why not just spend $25k + on a car already restored (given that is restored properly and body work is of high quality and not just full of bog) 

 

For some people the fun is in the restoration knowing exactly what and how the process of restoration was undertaken and knowing that at the end of the day the final product is partly of their own making, i have been extremely tempted to just buy a cheap car and work on it over time, however we have no room whatsoever so im stuck with dreaming for now (i cant wait to get my first car, im 21 now so its really annoying not having a car to work on to keep me occupied)

[C.A.R.]

(i cant wait to get my first car, im 21 now so its really annoying not having a car to work on to keep me occupied)

I've isolated your problem.

 

HTH.

[chris240]

you mentioned you spent a "few years" looking out for a zed.. does that mean you could have bought one all that time ago but didn't 

anyway for $15k you should be able to find something "reasonable".

[WA240Z]

I think the 40 year age rule of thumb for classics is having an effect on the 240 prices, and the fact that many people now buying a decent condition car have the funds to spend on the asking price. Look at other classics that are around 69-70 model, they are all starting to appreciate in value. When you look at it the 240z is still very good buying if in good condition compaired to its hay day competitors. I have owned my car for 20 years now, and wouldn't part with it, because it is exactly what I like, a great little GT, perfect for a weekend away, or an early morning Sunday blast on a good road and club motor sport. Not many other cars on the road of that vintage of similar price give you any where near as good a drive or looking package, and you can still buy nearly anything you need for them.

 

Anybody buying a cheap zed and expecting cheap easy motoring I think is fooling themselves. These cars are 40 years old, and take a bit of passion to keep them in good running order. If considering a professional rebuild it will cost similar to a rebuild of a car worth a lot more money.

 

If you want a great "drivers" classic with plenty of potential for development I don't think you could do better, but please don't buy one to neglect,

leave it for someone who has the passion.

[gav240z]

As others have mentioned prices have gone up. When I first bought a 240z at 18 (10 years back now) I bought a semi-rusty but definitely relatively easy to refresh 240z for $3,500. Even then finding a 240z for sale was rare, it was 6 months between them showing up in the Victorian trading post and when I went to inspect it there was already about 6 other blokes going over it.

 

That was 10 years ago!

 

I can only imagine how many are looking now, the good news is we have the "internets" and many classifieds sites like carsales, eBay and of course this club/forum so you can search for a car nationwide as oppose to only in your local state. This helps tremendously but even then finding a "good" 240z and I mean properly restored car is a challenge. Many on the surface are in good nick, but dig a little deeper and you see many short cuts.

 

This is why it's so important to document the resto process carefully and of course not rush it.

 

Parts for these cars is going up and finding things like door cards (for $400+) is not uncommon. Many of the mechanical parts are relatively cheap, but interior trim and body trim is expensive relatively speaking.

 

If I were you and really looking for a project, then perhaps you need to find a way to make room? Rent out storage with a couple of automotive enthusiast mates. There is nothing like paying for storage to motivate you to work on it and get things done, rather than drag them out over a long period of time.

 

At 21 you have something on your side, time! Without the distractions of work and g/f's to get in the way. Mind you a g/f is not a bad distraction.

 

So yes, prices have gone up, but at least if you buy 1 and fix it up you'll loose less money than buying a new car eg: MX-5. The MX-5 is not a bad car mind you, although if you want something close to the old 240z and relatively cheap perhaps consider an 1979 / 1983 Mazda RX-7? I think the original RX-7 is at a low point right now in terms of price and will probably rise in the next 10 years.

 

Just a thought.

[bluerat]

Mate get one now!! They are under valued compared to other similar vechicles of the era...way, way under valued.

 

And I've said it before and I'll say it again they are far, far  from rare. There are six competing in Targa Tas this week alone!! and there all genuine, you cant copy a Zed like you can a XYGT or XU-1.

 

Whats HTH Lurchie? Is it code for get and MG instead? LOL

[Scoota G]

Whats HTH Lurchie? Is it code for get and MG instead? LOL

 

A. Hand To Hand

B. How The Hell

C. Hope That Helps

 

Google

[Scando]

Whats HTH Lurchie?

 

Not sure but it sounds like something he should see a doctor about.

 

It'll be interesting to see if Z's do keep going up in value in years to come as 80's cars become classics.

[Sirpent]

Found this from the UK which sums up the situation there with S30's

 

I would suggest that the UK and AUS/NZ scenario are similar while in the States S30's are still plentiful, once the U.S. situation changes I believe the S30 will make it's mark in a much bigger way

 

http://webcache.googleusercontent.com/search?q=cache:AC0w-pytZgUJ:www.classicandperformancecar.com/news/marketnews/266200/hot_little_number_datsun_240z.html+240z+future+values&cd=7&hl=en&ct=clnk&gl=au&source=www.google.com.au

 

This is the transcript

 

The datsun 240Z exists so we can beat ourselves up. It’s a metaphor for the complacency of Western industry. Yet in our masochistic fervour the case for the 240Z is often overstated. Let’s put matters straight: it was not the world’s best-selling sports car. From 1969 to 1973 the Corvette more or less matched its numbers and the Mustang massively trounced it.

 

The 240Z was the sports car the West should have made. With 125mph, 151bhp, independent suspension, front discs, five-speed ’box and keen pricing, what was there not to like? Result: 90% went to the US. Plus a more telling stat: 156,000 240Zs were sold – twice as many as the E-type in half the time.

 

Where are they now? Fewer than 2000 came to the UK; they rusted; and motor sport honchos have murdered more. That’s history, and the recent rise in values has made 240Zs worth more than ‘cooking’ 911s. And anyone who’s driven a good one reckons that’s as it should be.

 

While there are E-type Jags at every classic car auction, 240Zs are few and far between, but well worth looking out for.

 

Price points

 

It’s time to reappraise your prejudices

 

• 1990s Throughout the decade, while commentators quibble over the 240Z’s ‘borderline/future’ classic status, few good cars turn up at auction; yet the good ones defy price-guide prejudice. In 1996 a fine 240Z which made £7000 (AUS$ 11,050.00) at auction was quite exceptional; ordinary examples were making half that, or less.

 

• 2000-2005 240Z remains a ‘best-kept secret’ and great value buy with little price movement; £5000 (AUS$ 7,90.00)still buys plenty Datsun.

 

• Today The secret’s out. In 2007 an original 240Z made £9775. In 2010 a restored example made £13,225 (AUS$15,440.00) That’s E-type 2+2 money, and the highest UK auction price yet for a 240Z road car.

[PZG302]

All old cars are costing more and all cost a shitload to restore, even if doing it yourself.

 

My Zed, a pretty rough racer, no point in spending a lot on it, just what need to, I wouldn't let go for less than $20k, over the years it has probably had $100k in parts and labour spent on it, but you certainly couldn't see the inevstment. Some would say, including me, that it's a pretty rough car. But i can do a lot of the work my self because the standard doesn't need to be too high, just neat and tidyish. It is a race car after all.

 

My other "project" is a Charger, and they are veryu simialr to a Z, unloved in the '70's, 80's and 90's they now command big money, try over $5k for rusty shell. Mine is a XL with non original 265, so I am building what I would call a quasi R/T. No R/T badges, but a better than E49 265 running triples, big brakes, XR8, on the front, old school 4 speed and modern seats with the 70's interior staying. For the result I want, I haven't got the time, skills nor patience to complete so i am going down the "checque book" restoration route to the tune of around $70k to build my Charger.

 

I have found the parts for the Chugger as difficult, if not more so, to find than bits for the Z, and dearer, try to locate a good 265 with standard bore these days when they stopped making them 35 years ago, L28's are falling from the sky in comparison. Or another example, the trim around the ducktail, near impossible to get 2nd hand or repro, hopefully mine can be repaired.

 

Unless you want to spend a bucket load of time and/or money on an old car i would be looking at something cheap to get into and enjoy, one suggestion from me is my other toy, an early NA MX5, should be able to find a good one for around $5k that will have enough modern stuff to be reliable, but simple enough to tinker with.

[aegean]

 

• Today The secret’s out. In 2007 an original 240Z made £9775. In 2010 a restored example made  £13,225 (AUS$15,440.00) That’s E-type 2+2 money, and the highest UK auction price yet for a 240Z road car.

 

Not sure where the maths came from but £13,225 today would be A$20,871.

[Sirpent]

Correction: correct I mistyped the figure into the currency converter 

[silverz]

Picked up the May edition of Your Money Magazine at the Airport today. There is Article in it titled 12 classic cars to to enjoy and make money from. 

They have listed 6 high priced classics and 6 affordable models that experts think have great to appreciate in value in the years ahead. The Datsun 240Z is in the affordable list. The article quotes US specs (4 speed manual) and indicates price new as $4500, latest value at.$10,000 to $40,000. The annual appreciation from new is calculated as $960 (approx 21%)

[Mr Camouflage]

Hey all ive been following this forum and looking out for a 240 for a few years now but from what ive seen there has been a huge jump in the cost of zeds especially the 240's.

 

Depends where you're looking. There's one for $3500 for sale at the moment in the forums (LHD one), and another that sold for $2500 a coupe of weeks ago, and a few more on ebay. Sure they needed work, but if you cant afford $10,000+ for a (semi) decent one, Maybe consider getting a fixer-upper and a cheap daily econobox to get around in until the Z is ready.

[zeds4ever]

Would like to point out from my view point that "Zeds" are a one of a kind vehicle that given the year it was produced to take on the American market  namely the Corvette  it more than succeeded this imagination, it was also successful in prevailing in the 24hrs Le Mons classic.. This car also could outperform Porche's & many other vehicles that were supposedly far superior. I love the fact that they look like a poor mans version of the "E Type Jag" but look so much better. At least Albert got something right but then again BMWs aren't to bad.

 

                                                                                            Regards: Alan. 

[MR260]

So what about the 2+2's ?

Do we expect there values to rise as steadily or just fade away as the ugly sister to the 2 Seater.

 

Dont get me wrong i like the 2+2 and think there quite practical you just never hear much talk about them as a classic car etc.

 

Wish i didnt need to sell mine but i have finally come to realise im a Driver and not a Restorer so cant see me getting my Zed back on the road now especially with the always increasing family commitments.

[reverendzed]

Joel,

2+2's will always fetch a good price and yes the value of them is steadily increasing.  The tension is that there are more 2+2's that need major resto and there are alot of people who would identify with you and are drivers rather than restorers.  In my experience a restored 'turn Key' 2+2 will fetch 75% of it's 2 seater sibling.

Rev.