Posted on 12/15/2007 3:32:37 PM PST by Daffynition
NEW YORK -- For many baby boomers, the purr of a vintage hot rod’s engine is music to the ears. And for those who are auto restorers and investors, it also sounds like money in the bank.
Today, the collector-car industry is worth an estimated $20 billion per year, according to Kelley Blue Book (KBB). With aging baby boomers fueling the market for beloved convertibles and muscle cars, the industry has grown at a rate of 20% over the past five years -- a rate that KBB expects to continue for the next 10.
The finite supply of cars in the marketplace is driving profits in the car restoration and auction industries, said Richard Lentinello, editor in chief of Hemmings Motor News, the oldest and most-read automotive publication in the United States.
(Excerpt) Read more at foxbusiness.com ...
It's a sobering project, since a new paint job is twice the cost of the car brand new...
This article gives me hope.
Now I’m curious ....What are you working on?
We’re in! Hubby is restoring a PAIR of ‘68 Vettes. I refer to them as his girlfriends. And it’s just fine with me.
Article’s right on. At work, we are restoring a ‘70 Ls-6 Chevelle, 2 ‘67 Impala SS 427’s (rare rare rare), a ‘40 Ford street rod, and a ‘63 Plymouth fury 426 max-wedge car.
We just finished a ‘67 Fairlane 427 car, a ‘57 Chevy hardtop, and a ‘63 Corvette 327-375 horse car.
Aside from all these, we’re booked for a couple years.
I owned 2 78 Z28’s and a 70 Chevelle SS in my teens and early 20’s and sold each one for around 500 bucks. Now i’m seeing the Camaro’s alone going for at least 15 grand in about the same shape I sold them.
I wish i still had any one of those cars in my garage. I’d be out there every night working on it.
It's a 69.
My brother had one of a similar vintage. It was great fun to drive. I recall when he bought it, he had a factory installed gasoline heater ... saved our lives in the NE winters. ;)
I’m glad your business is so good. Preserving Americana ... it’s a good thing. ;)
Thats it!! Now excuse me while i go cry for a while.
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