Gnx #433

[flipmo]

Guys, anyone know of the true history of this car? Dang, I see that back in 2004 it was for sale out of Staton Island, NY for $54K (someone got a deal then) and now it is being offered on Ebay for $85K. That's nearly a $30K increase in the selling price in just 4 years time.

So using some deductive reasoning, 1) is time now good for getting one of these cars and 2) should a prudent individual expect to constantly see the price of the GNX to keep increasing in value overtime. So in 2012, this same car with less than 200 miles on it should net $115K? Am I just dreaming here?

flip

 

[VETROC]

I think prices are going to come down with the economy the way it is right now. You can already see it happening with other rare cars. I am currently negotiating on a 00 Cobra R (300 made). These cars would routinely fetch between $45K - $55K for a nice low mile example. Right now I am dealing with a guy that got laid off and has to move to the West Coast from the East Coast because of a job offer that his wife got and I can get the car for high $30's. Unheard of even a few months ago.

Check the news, even high ticket item sales that are supposedly unaffected are not selling. Art in the $10 - $100 million category for instance.

Wait and see. I bet prices start coming down. We are already seeing it in the GN and T's and I don't think the GNX is immune.

 

[GSX-PKV]

Back in the day... I wanted to buy a GNX and kept a list of those for sale.
In March & May 1990, GNX433 was for sale in Hemmings with 9 miles for 40k.

 

[flipmo]

I think prices are going to come down with the economy the way it is right now. You can already see it happening with other rare cars. I am currently negotiating on a 00 Cobra R (300 made). These cars would routinely fetch between $45K - $55K for a nice low mile example. Right now I am dealing with a guy that got laid off and has to move to the West Coast from the East Coast because of a job offer that his wife got and I can get the car for high $30's. Unheard of even a few months ago.

Check the news, even high ticket item sales that are supposedly unaffected are not selling. Art in the $10 - $100 million category for instance.

Wait and see. I bet prices start coming down. We are already seeing it in the GN and T's and I don't think the GNX is immune.

Now that "is" truly amazing. I see that all you need is a little patience. Considering the current status of the economy, one would expect prices to go down across the board - I just wouldn't figure the GNX would lose tooooo much value. And the fact that our economy is still not at its worst yet (according to Jim Cramer) even though he was wrong about Wachovia!

Back in the day... I wanted to buy a GNX and kept a list of those for sale.
In March & May 1990, GNX433 was for sale in Hemmings with 9 miles for 40k.

O.K. $40K in 1990, $54K in 2004 and $85K in 2008. So the actual sellers were keeping pace with the market. So if we fill in the gaps ($40K 1990, $44K 1994, $48K 1998, $52K 2002 and add two more years $54K 2004), it would still equal to a $4K increase every 4 years not including the $30K spike he's asking for between 2004 and 2008. So it truly seems like the "true value of this car" right now with mileage should be around $58K - $60K, right or wrong? I just wonder though will history keep repeating itself?

flip

 

[Grumpy]

In March & May 1990, GNX433 was for sale in Hemmings with 9 miles for 40k.

ya have to remember another thing .. most owners paid $40k for the car new. We looked at a few before we bought one a few years ago . SOOO they were a typical poor investment at the time I don't care what someone wants for the car .. CASH is KING !! Oh I know guys that paid $40k for TTAs new .. Talk about loosing your shirt !!

 

[flipmo]

ya have to remember another thing .. most owners paid $40k for the car new. We looked at a few before we bought one a few years ago . SOOO they were a typical poor investment at the time I don't care what someone wants for the car .. CASH is KING !! Oh I know guys that paid $40k for TTAs new .. Talk about loosing your shirt !!

Hmmmmmmm, now TTAs are a whole different story. Though I haven't had the interest to purchase one over the years, they are still very nice cars that I don't think will ever rake in what a GNX will. Just something about the GNX.

Funny thing though, last year, I bought a brand new 2007 GT500 Mustang and paid $60K for it. Put on the basic bolt-ons and the other day I went to Ebay looking around and those damn cars now are going for as cheap as $35K. Yes, a low miled 07 GT500 for $35K today is incredible and I never thought they would be going for so low today - almost a criminal giveaway!

Going to wait a little while longer and see what the GNX value is going to be.

 

[VETROC]

Back in the day... I wanted to buy a GNX and kept a list of those for sale.
In March & May 1990, GNX433 was for sale in Hemmings with 9 miles for 40k.

That's funny. I keep a list too. Every time a GNX goes on the market, I keep a record of what it sold for, owner history, any info I can get basically, just in case I end up with the car one day.

There are a few to stay away from and I have some of that info as well. Unfortunately, I only started my list a little less than 2 years ago, so my info is somewhat limiyed to the X's on the market within the last 2 years.

 

[GSX-PKV]

That's funny. I keep a list too. Every time a GNX goes on the market, I keep a record of what it sold for, owner history, any info I can get basically, just in case I end up with the car one day.

There are a few to stay away from and I have some of that info as well. Unfortunately, I only started my list a little less than 2 years ago, so my info is somewhat limiyed to the X's on the market within the last 2 years.

My list was from '89-91 and I stopped after I bought my GSX. I had about 8 or 9 on my list from back then I never would have considered. Paul