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^^Fact.
However depreciation in a car that isn't increasing in value is a failed purchase.
It's just common sense.
Now if you had bought a signed, Richard Petty GTP with that carbon fiber interior/engine cover or whatnot...that might be worth the higher asking price.
Would seem silly to have $35,000 worth of something you call an "investment" not insured.
Would make for a good laugh if it ever got stolen or burnt down in a fire and they lost $35,000 because they were idiots.
Fact of the matter is "value" is what someone is willing to pay for it. Baseball cards are the perfect example!
So the question is will someone be willing to pay $25k for this particular car?
Maybe in about another 10 years when all the other GP's have final rusted out and this one is as good as mentioned and kept hermetically sealed! Good luck with trying to replace anything that needs to be restored as parts now are getting scarce. So... As it stands today, no, I don't think there's anyone who would find the valuation at $25k to be investment worthy! Sorry to bust your bubble! Again, remember, it's not what you think it's worth, but what someone is willing to pay! Put it up for auction, see what interests you get, it'll cost you some $, but you can set minimum sale price... Go for it! Let us know how it goes.
OK , balls in my court. Who ever wants the car...... bring 25 K to Lansing Michigan. I'm not going to move all the other cars , take the car off the rack of the building it in just so you people can see pictures of it. I put it out there if a real Grand Prix person wanted one . Period. If you don't , just move on.
After following this thread for 3 weeks, the one comment by Fivefingerdeathpunch makes the most sense "They woulda made more investing their money in the stock market compared to owning and insuring a car for 15 years". Who would buy a brand new car, pay all the taxes at purchase time, then store it for 15 years, and then try to sell it for only $25,000? The owner has lost so much money on it. They need to sell it for much more than $25,000 to make it worthwhile.
Buying cars and then trying to make a profit from selling them is a "lose-lose" situation because cars are so plentiful. It would have been much more profitable to use that money to make sound investments in the stock market. Or take that money and add more to build a new home in an area where home values are on the rise. Or even putting the total purchase price of that car into bank CD's. Over the time span of 15 years, money can be made in interest.
And keeping the car for another 15 years in hopes of someone buying it for $25,000 or more is even more risky, as anyone interested in this rare, low mileage GP is going to low-ball the price or walk away. Only a fool parts with money in that amount, and people that have big money to spend on cars are buying true exotic cars so that they can keep them for years, and then sell them and make more profit. It is doubtful that anyone would want to buy a GP and hope that they can make big dollars on it.
Hahahaha... That's funny!
so take a pic of the racked car... Something because words mean little and nobody in their right mind will make a journey, if evn just down the block, on faith of someone they don't know. On the other hand, it's you, the OP that must take the leap of faith, and go to extraordinary effort if you'd like to make a sale for something so outrageously priced! Otherwise, it's "YOU" that should just move on.
A car is only worth what someone is willing to pay for it. You keep stating the car is rare, but it is anything but rare. There were probably 500,000 coupes made just between 97-02. Just because 02 was the last year of the coupe doesn't make it any more special. It's still a FWD W body in which MILLIONS were made. For $25,000 I can buy a new car with much better interior (the pre 04 interior is hideous), much better handling, is much faster, etc, etc, etc. I'd also be able to see pictures of said car because sellers that want to sell post pictures.
On a good day I could see a clean 02 GT selling for $4000. The low mileage of your example might make $6000, and that is being very generous.
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