The value of GN's

[NY87GN]

I’m fairly new to the Buick world, I have always been a big fan of GN’s, I always thought they were out of my budget. After a long shopping cycle I found a real nice 87 GN that was all stock with 40k verifiable miles and new paint. I had the car really checked out and she just needed some tlc. I thought I got a great deal when after weeks of negotiating I was able to convince the previous owner to take a $10k offer. It seems that the value of these cars are all over the place. I have been on this forum for awhile and see some member selling their rides with a similar description for about the same if not less. I have always kept my eye on what I thought the market was for these cars and I thought I got the deal of a life time. Please don’t get me wrong, I could not be any happier with my GN she is a real solid car. I am rambling on, my point is, are the member on this forum just under selling themselves, and not seeing the true value of these outstanding cars?
I have been on Autotrader.com, there are 53 GN or Ttypes for sale with the average price of $19K, I realize that many of these advertisements are from car dealers that jack up the sales price. There are also many private owners as well that have their cars advertised for higher prices. http://www.autotrader.com/cars-for-...mmt=[BUICK[REG[]][]]&captureSearch=true&Log=0

Just a thought that I wanted to share….

 

[GNRick]

I can tell you from experience that those Autotrader ads are way over priced. Sounds like you got a good deal. A decent paint job is around $5-6k. I've always thought that older cars are harder to sell because you can't just get a regular car loan for them. Usually you would get a personal loan, and they don't even want the car as collateral. In these trying times, it is tough to get a personal loan. Credit Unions are probably your best bet. I suspect the seller found that out the hard way.

 

[Dialtone76]

I too have noticed the market is all over the place. I keep an eye on cars for sale on the board, ebay, and scope Craig's list. I am amazed at the cars that don't sell, and shocked sometimes at the ones that do.

I noticed that the quality of the car, determines the audience willing to buy it and impacts the price. Full out restores appear to be geared towards collectors as they usually come with lots of original documentation, and they seem to attempt to fetch the highest prices, but take the longest to sell. The low end of the price range seems to target the racers out there who plan to build up the car anyway and generally look for a solid body. The mid range price GN seem to be the 'drivers' of the group. Usually needing paint/body work or minor engine work/refreshing and usually have some mods to go along with it.

I have also observed that many cars that have sold seem to go through a cycle. End of summer season / beginning of autumn seems to be when prices go down. (maybe guys don't wanna pay for another 6 months of storage). As spring draws closer, prices go up and there are more cars to choose from (everyone wants to drive one in the summer). The initial listing seems to rarely get picked up quickly. It almost seems as if there is an adjustment period that needs to happen before the seller will lower the price and the car actually sells. I think people who love these cars as much as we do invest more $$$ than when we will ever get back in a sale, but we owe it to our hearts to try. hehe.

I have also observed that there is a LOT to be skeptical about when buying a TR. Odometers only had 5 digits and i see a lot of sellers representing their car as having lower mileage than it really does. Interiors or engine compartments that show obvious wear beyond the 15k miles they claim are on it. I also see adds for cars that are billed as all original…. but in actuality it was 'returned' to original state by removing all the bolt-ons before the sale.

Car dealers are IMO looking to doll up a car and then scalp the buyer. The more I survey the market, the better the cars look that go for sale here on the board. Some guys even post links to cars for sale and the community comments on things to look out for or offer questions to be sure to get answered. I have not seen any evidence of any other members sniping anothers potential buy, and there are lots of offers from members to go inspect cars for guys out of state. I think the members here, when selling their cars know their target audience and know what they can get for it. If they are on the fence about selling, they will mark their cars up to see if their hand gets forced. If life circumstances change, and the cars has got to go... the price will reflect it, but they usually want the car to go to a nice home from someone here.

IMO 10k for a 40k 87 GN is a good deal, even if it needs paint. Unless of course it spays oil and smoke everywhere you go or if it has 8 spark plug wires instead of 6

Just as a disclaimer, I do not own a TR, but I promised myself to learn the market before I bought, and I am SO glad I did. This board is a great place to be if you love these cars. Enjoy your ride!

 

[psycho6cyl]

I.picked up my 87 gn w cf5 for a great deal 11-11,500. Super clean.original.car..was surpised..I.repaint and a decent one. Just no.hood emblems and trunk.emblem.on.wrong side. Car was solid. I think its all abput timing and the person.selling it. My first gn the guy let it go.way cheaper than he wanted to.only bc he saw the look in my eyes. Another problem w those 20k cars is that they just sit there never move bc whts been done or what they need dont justify the price. As usual just bc its rare doesnt make it valuable.

 

[Jay J]

Tough economic times like we have now have impacted our hobby--and our lives. Some people have been forced by this reality to sell their stuff (not just cars) at firesale prices. The price spread is also compounded by having salvage title rust buckets on one end of the scale opposed to pristine 3K almost brand new cars showing up in the "For Sale" section. Read some of the posts by Earl and Walter--they both know how to watch and wait for the deal. This is the market in action.