GNX: Over-valued?
- Thread starter motorheadmike
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Absolutely. There are so many far better drivers/enthusiast cars for so much less money. The GNX is cool for what it is but not at those values. I think of it as just 547 of what millions of other cars on the same chassis.
If I bought one new and sold it for $215K, then no. They are not overvalued. 🙂
In reality, I agree that $100K is a tad up there, and 215 is retarded money. But if someone actually pays it, then it's not really out of line.
It's still hard to put a value on the rare cars that are actually currently desirable.
In reality, I agree that $100K is a tad up there, and 215 is retarded money. But if someone actually pays it, then it's not really out of line.
It's still hard to put a value on the rare cars that are actually currently desirable.
Is it any crazier than the prices of rare muscle car era cars? Same thing can be said about finding better performance for the money, but people pay for more than that. Just the GNX is now in the prime range for people who have the desire and means similar to the guys who have been buying Mopar’s and convertible Chevelle SS’s, Yenko’s, etc.
My take anyway 🤷♂️
My take anyway 🤷♂️
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I recently posted a comment on a BAT GNX auction that was something like this:
"The GNX and Grand Nationals are the current automotive equivalent of cryptocurrency. They apparently have value, but most people don't understand how or why they have such value. "
We are obviously G Body enthusiasts, but even we cannot see the logic. It appears that these big $$ auction buys of low mileage specimens are being made by guys who put greater value in being able to say "I possess a rare vehicle with very low miles" than actually driving the vehicles. I suspect that type of personality also enjoys the wide-eyed response they get when they tell others what they paid for that privilege. I have seen one fellow on BAT has bought multiple 6 figure GNXs and GNs over the last year. Obviously, that fellow has enough $$$ that he likely won't suffer any real hardship if the bubble bursts and the going prices for these cars goes down, which I expect will eventually happen. If I had that type of $$, I would be more likely to buy a low mileage specimen, and then enjoy the wide-eyed responses as I drove it 10,000 miles the first year. I don't have that kind of $$, so I will spend much less to build the exact G-Body I desire, which will not have 546 "twins", and have the capability to outperform the 87 GNX in every category... except FMV, of course. But I never intend to sell it.
"The GNX and Grand Nationals are the current automotive equivalent of cryptocurrency. They apparently have value, but most people don't understand how or why they have such value. "
We are obviously G Body enthusiasts, but even we cannot see the logic. It appears that these big $$ auction buys of low mileage specimens are being made by guys who put greater value in being able to say "I possess a rare vehicle with very low miles" than actually driving the vehicles. I suspect that type of personality also enjoys the wide-eyed response they get when they tell others what they paid for that privilege. I have seen one fellow on BAT has bought multiple 6 figure GNXs and GNs over the last year. Obviously, that fellow has enough $$$ that he likely won't suffer any real hardship if the bubble bursts and the going prices for these cars goes down, which I expect will eventually happen. If I had that type of $$, I would be more likely to buy a low mileage specimen, and then enjoy the wide-eyed responses as I drove it 10,000 miles the first year. I don't have that kind of $$, so I will spend much less to build the exact G-Body I desire, which will not have 546 "twins", and have the capability to outperform the 87 GNX in every category... except FMV, of course. But I never intend to sell it.
Most people who earned their way to being rich didn't get there by being stupid with their money. It's really all relative. To Jeff Bezos, 215K is like me reaching in my pocket and giving a bum a quarter. He probably makes that kind of coin or more in 30 minutes from his investments. So guys like him can afford to blow a wad of cash like that.
It happens all the time with just about everything. If a collectible catches fire, the guys with deep pockets get in the game and the "little guy" gets shoved out of the bidding. It's bragging rights only for most of those guys. Why? Because they CAN. That's why. Can't hate on them if they have the $$ and I don't. I still feel blessed for being able to collect all the low-value garbage I have over the years.
It happens all the time with just about everything. If a collectible catches fire, the guys with deep pockets get in the game and the "little guy" gets shoved out of the bidding. It's bragging rights only for most of those guys. Why? Because they CAN. That's why. Can't hate on them if they have the $$ and I don't. I still feel blessed for being able to collect all the low-value garbage I have over the years.
Agreed, if I was going to modify it, I'd just get the best value Turbo T-Type I could find and mod it. That is exactly why I opted not to get a 1979 Hurst/Olds. While they don't currently have the crazy values of the GNX and GN, modifying a Hurst/Olds from stock would assure that it would not be worth the max it could be (at least in the current market where originality is paramount, even if the original was mediocre performance-wise.)
Factually, my car is probably even more rare than the 1987 GNX. How many 1979 Olds Cutlass Calais (Calais = buckets, console, sport gauges, F-41 suspension & steering) were assembled with 260 diesel, Dark Carmine Metallic over Carmine interior, with T-Tops. I doubt 500 people would have ordered that. Mainly because diesel exhaust and T-Tops are not a good combo, and you don't need sport suspension, etc. with a 90 HP diesel. So this is a case where rare does not equal premium value, and what makes my car, in my opinion, the perfect candidate for a drivetrain swap.
The only way to get a rich guy desirable car is to buy it new:
It is just like art. Van Gogh wasn't popular until he was made desirable.
Just call me VAN G-BODY. I used to be popular with the junkyard owners...
Yeah, I mean, for one, he is one ugly motherf'er. Until he got popular with the prostitutes, and then Mike Tyson's great great great grandfather bit him in the ear. (don't believe for a minute he cut his own ear) That's my version, anyway. 🙂
The beauty with G-bodies is that they made 10 trillion of them, had them in different flavors, and everyone gets a version they probably like the most. Tell the Monte guys that a GP is the best, and you can see a fight coming. Although most were built side by side on the same assembly line, and sometimes with the same engines. So Buick guys are going to lust after a GNX, Olds guys the Hurst and 442s, and Monte guys over the SS and Aero SS, Malibu folks love the 2 doors and Iraqi Taxis, and the Pontiac guys will like the Grand Ams, and 2+2s. Who knows which one will catch fire and be worth millions?
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