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Question for 1989 Corvette Challenge Car owners & enthus

 
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Do you feel the 1989 Corvette Challenge Cars will escalat in value?
YES
100%
 100%  [ 5 ]
NO
0%
 0%  [ 0 ]
No clue?
0%
 0%  [ 0 ]
Total Votes : 5

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bigjohn



Joined: 09 Jan 2007
Posts: 16

PostPosted: Tue Jan 09, 2007 4:49 pm    Post subject: Question for 1989 Corvette Challenge Car owners & enthus Reply with quote

What do you feel the current value is of the 1989 Corvette Challenge car?

What do you feel it will be 5, 10, 20 years down the road?

Thanks,

BigJ
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sun bather bob



Joined: 08 Dec 2006
Posts: 14
Location: Ocean City,NJ

PostPosted: Tue Jan 09, 2007 11:41 pm    Post subject: Reply with quote

I think they will be worth more than the 88's. Not by much though. We will see down the road. I hope it all pans out because I have invested my future in a 88,89, and a R9G!!!!!!!!!!!! Shocked Shocked Shocked Shocked Wink Wink Wink Wink
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racelance
Site Admin


Joined: 01 Jan 1970
Posts: 104
Location: Carlisle, PA

PostPosted: Wed Jan 10, 2007 3:37 am    Post subject: Re: Question for 1989 Corvette Challenge Car owners & en Reply with quote

bigjohn wrote:
What do you feel the current value is of the 1989 Corvette Challenge car?

What do you feel it will be 5, 10, 20 years down the road?

Thanks,

BigJ


The value of the 89s has been all over the board. In the early 90's these cars went darn close to the 6 figure range. Then the market tanked in the late 90's when a few cars were sold at a big discount at an auction. Unfortunately the auction wasn't the right place to sell the cars & they were sold at no reserve. The 89 was sold in the low 30k range at the time - this scared a lot of collectors off. I believe these cars today are a steal if you're able to purchase them under the $50,000 range (again, this depends on the history of the car).

I feel the '89s are going to become more desirable then the '88s but some disagree. I say thing because I love the sound of the side exhaust & the 6 speed transmission - what a car! The 88's are incredible as well, but I favor the '89s because of the reasons I mention above. I recently purchase 2 '89s one has good race history and the other ran in the back of the pack. I paid more for the back of the pack car but it's a car I really wanted simply because I loved the look, the color and it was Bloomington Gold certified. The driver was a no-namer - but again, I'm not buying it strictly as an investment - I have a passion for these cars and love nothing more then to step back & enjoy the beauty of these pieces of artwork (that make one heck of a sound too!).

What's in store 5, 10 & 20 years down the road... who cares? Enjoy 'em and watch your investment grow. If I had a bundle of money to invest, I'd place a heck of a lot in '89 Challenge cars - a bold prediction (my guess): by their 25th birthday (2014) these cars will be well over $100k. Only time will tell...

Good luck with whatever you decide - just remember I'm only making predictions (noone really knows where these cars will be in 5-20 years).

Sincerely,

Lance
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bigjohn



Joined: 09 Jan 2007
Posts: 16

PostPosted: Wed Jan 10, 2007 7:07 pm    Post subject: Reply with quote

Thank you gentlemen. It appears now is a good buying opportunity, I'm going to keep my eyes peeled.

BigJ
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jr9170



Joined: 02 Feb 2007
Posts: 12
Location: NJ

PostPosted: Thu Feb 22, 2007 11:58 pm    Post subject: Reply with quote

bigjohn,are there any for sale currently that you know of?...THANKS JERRY
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jr9170



Joined: 02 Feb 2007
Posts: 12
Location: NJ

PostPosted: Fri Feb 23, 2007 8:40 am    Post subject: Reply with quote

[quote="sun bather bob"]I think they will be worth more than the 88's. Not by much though. We will see down the road. I hope it all pans out because I have invested my future in a 88,89, and a R9G!!!!!!!!!!!! Shocked Shocked Shocked Shocked Wink Wink Wink Wink[/e] Bob,which ones do you own?
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bigjohn



Joined: 09 Jan 2007
Posts: 16

PostPosted: Fri Feb 23, 2007 12:45 pm    Post subject: Reply with quote

jr9170 wrote:
bigjohn,are there any for sale currently that you know of?...THANKS JERRY


These cars are very difficult to find, when they come up for sale they tend to sell quickly. Now it appears there aren't any out there - if anyone sees one for sale, please post it on this forum!

BigJ
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