Realistic opinions on worth of #0001

[ShaneM]

Ok guys question for you to peruse. I still have people trying to buy my car, which is #0001 for the street boss 302 cars. i have had peopel get pissed at me for not taking them up on their offer of $10k more than i paid, and i have turned down offers for much more than that. I have been following the listings on ebay and cars.com and have noted prices are going up on those listings compared to a few weeks ago. I am wondering realsitcally what the car is worth and how to figure that out. Don't tell me to call Jay Leno unless you have his phone number. I'm not really wanting to sell, but I would for the right price IF i could repalce it with another boss. I know this car will be worth big money in the future and it woudl be nice to have one i can mod guilt-free

 

[roamer]

From my vantage point in Florida, it seems easy enough to find a "standard" Boss at MSRP.

The only way to know what your car is really worth, is to bring it to the next Mecum auction. Put your reserve up where you want it. You can always replace the car once you get the cash with another one at MSRP, or less the way things are going.

 

[cloud9]

To be honest I can't see the modern muscle cars bringing what the 60s 70s versions did because many of the buyers of the modern ones were teens/early 20s when the originals came out. These buyers wil be pushing up daisies by the time this generation of muscle cars become valuable.

This. Boss was built to run hard. IMO if you can get anything North of $20k over MSRP I would take it. If you really want to drive this car hard like you say, sell it for a profit and get one not labeled #1. Otherwise I think you'll always worry about whether you are diminishing its future value, and that will impair your ability to truly enjoy it. IMHO

I just slapped track rotors, pads, wheels and tires on mine and put it on the trailer to put it through its paces on track next weekend. I'm not worried about taking hunks of rubber off my roof from a car I'm trying to pass or the requisite rock chips. I'm just thinking about all the fun I'll have.

 

[Jimmy Pribble]

I was just about to post-up exactly what cloud9 just said. I do not think these cars will be worth as much as people think. Here are some SWAGs at mitigating factors:

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  1. LS is more rare than standard. The "subset" is usually where the money is.
  2. Not currently even the fastest Mustang, nor the most expensive.
  3. Nothing unique about the body, just a regular ol' S197 (except for the stickers and paint).
  4. Engine is special, except whoops...now you can get it as a crate motor, so...not so special.
  5. Successful racing heritage? Not yet (my fingers are crossed, though).
  6. To cloud9's point, studies show that the younger generation doesn't care about cars like we did/do. This will especially apply if these aren't, you know, allowed to run on public roads in the future.
  7. The big-money unicorn will be the '12 Grabber Blue, that sold for $.5M (charity, though). Is this the real #1? Did it get a serial number like the others?

Here is an example that I feel like is a good one (not counting the "serial number" thing). 1993 Corvette ZR-1. You know the car. Unique body (wider fenders), unique engine (built by Lotus), amazing performance, and only 6939 made, which is a number that will most likely be exceeded by the Boss, but it's reasonably close. This car was a desirable upgrade to the standard Corvette and it set numerous land speed records. The car had serious accolades and bona fides and sold for between $60K-$66K, with some dealer markups as high as $100K. I honestly think that this is a relevant and reasonable example of the kind of car we have with the Boss.

There is one on eBay for $27K. Sure, it's not #1, but [shrugs] I'm just saying. In the Wiki, it mentions that a prototype ZR-1 with active suspension sold at auction for $60K. At best, that car held it's value.

That's how I see it, but man, what do I know? I agree that if you can get $20K over (or whatever), then let somebody else take the risk. If that person makes a million dollars in 30 years, who cares? What's he going to do with that money, buy more cars that he doesn't drive? :

Man, just enjoy your Boss, whether it's this one, or another. Good luck! I'm in Texas, so maybe I will see you at an event sometime.

Cheers,

Jimmy

 

[Big Vito]

Either sell it or quit worrying about the money and drive it like it was built for.

 

[BossJockey]

I totally agree with Gary. If you can get 20K over MSRP sell it now while it's a hot idem. As soon as Ford comes out with a better faster Mustang the value of our Bosses will start falling faster than the housing market in 2008. As good as this car is, in a few years it will no longer be competitive on the race track. Do you really think Ford will just stop racing? No they are going to make a faster/ better Mustang to stay competitive. Now there always that rare chance that Ford goes bankrupt or everyone starts believing in global warming and Ford doesn't build a better Mustang. :

If your not driving the car because your afraid of hurting it, call the guy back that offered you the most money and tell him you changed your mine and sell it tomorrow.

My 2 cents, but I don't get why people pay the prices they pay for 60s & 70s cars.

 

[VoodooBoss]

This. Boss was built to run hard. IMO if you can get anything North of $20k over MSRP I would take it. If you really want to drive this car hard like you say, sell it for a profit and get one not labeled #1. Otherwise I think you'll always worry about whether you are diminishing its future value, and that will impair your ability to truly enjoy it. IMHO

This pretty well covers it. A few more things to think about:

* What if it was stolen and not recovered?
* What if it was in an accident and totaled?
* Other than 0001 what is different from all the other Boss 302's?
* Do you really know if it was THE first Boss 302 built? It was the first Boss to get an ID stamp.
* Definition of luck: being in the right place at the right time. Maximize the opportunity while it is in your hand.

If someone offers you $20K or more I'd sell it. Remember it's just a car and you can always buy another one or buy something else. Take that $20K and put it in 529 plans for your kids college education. I've seen your other threads about pricing and the asking prices are moving up. But what are the actual selling prices??? Be patient and you'll fine another one for a reasonable price.

Good luck with your decision.

 

[jimprw]

Take it to one of the key auctions. Set the reserve at +20K if that is the prevailing guesstimate...then let the free market wheels turn and see what you get....

 

[ufnavy06]

To be honest I can't see the modern muscle cars bringing what the 60s 70s versions did because many of the buyers of the modern ones were teens/early 20s when the originals came out. These buyers wil be pushing up daisies by the time this generation of muscle cars become valuable.

I disagree. 40+ years from now, my generation will still clamor over the ZR-1, the Z06, Cobras, Boss 302s, Roushes, Saleens, SMSs, Hennessys, Callaways, ZL-1s, SRT-8 392s, SRT-8s, etc. There will definitely be a market for these cars in 2050 and who knows which car will be the big money car. There was no way to tell the Boss would hold it's value poorly in comparison to the GT500. But that trend is changing as people realize those Bosses were amazing cars, quite possibly more so than the GT500.

Anyways, I think people are pretty much right about taking 20k over your cost. I think that seems fair at this point. Do that, then wait a bit and get a newer one. And even if you have to pay a little over MSRP again, you're still ahead. The best thing for your conscience is to give the car to the collector and get another for you to truly enjoy. You'll feel better about it and yes you might be disappointed years from now if it turns out to be worth 6 figures or whatever. But you can't be thinking along those lines because you won't enjoy the best Mustang and maybe the best car Ford has ever built.

Roamer, I also disagree with the Florida comment. I've contacted most dealers in Fl and have yet to find a Boss 302 for MSRP.

 

[Big Vito]

To bad a dealer didn't get to charge 20k over

 

[cloud9]

I disagree. 40+ years from now, my generation will still clamor over the ZR-1, the Z06, Cobras, Boss 302s, Roushes, Saleens, SMSs, Hennessys, Callaways, ZL-1s, SRT-8 392s, SRT-8s, etc. There will definitely be a market for these cars in 2050 and who knows which car will be the big money car. There was no way to tell the Boss would hold it's value poorly in comparison to the GT500. But that trend is changing as people realize those Bosses were amazing cars, quite possibly more so than the GT500.

you might be disappointed years from now if it turns out to be worth 6 figures or whatever.

Here's something to consider. A Boss worth $63k today (MSRP + 20k) or $63k invested at 7% annual return (conservative long term equity fund return) for 40 years. The mutual fund would have a future value in 40 years of $943,391. As you can see cars are a horrible long term investment no matter what they ultimately bring at an auction. This doesn't even account for the maintenance and restoration costs that go into cars over a 40 year period.

Another way to look at it is the value in 40 years of $20k invested today is $299,489. You could have another Boss and a nice addition to your retirement.

 

[jimprw]

C9 has it nailed above. For 10k+ profit, I'd sell to a collector and get me another Boss. They're hitting the dealerships now and an MSRP buy over the next few weeks should theoretically be easier than when we placed our orders a number of months ago. Car is preserved for posterity and Shane can drive, race or mod his Boss without any reservations....

 

[VoodooBoss]

Plus the whole car collector thing is exaggerated by the baby boomers. Who knows what gen. X and Y will be into collecting. Shane has it listed on ebay so we'll see what it brings. I hope he makes a killing on it.

I do think the Boss will hold it's value better than any of the current Mustangs but the only investment opportunity is to sell the car and invest the proceeds. Next thing you know Shane will be opening up his own VC shop. ;D

 

[cloud9]

To bad a dealer didn't get to charge 20k over

This gets to be an interesting, unwinnable and contentious debate. My dealer sells their limited special edition cars for MSRP to loyal customers as a reward for their business. They do however, make it clear the buyer is not to resell it for a profit. This opens up a whole can of worms. Leave it to Perry! ROFL

 

[Big Vito]

To bad a dealer didn't get to charge 20k over

This gets to be an interesting, unwinnable and contentious debate. My dealer sells their limited special edition cars for MSRP to loyal customers as a reward for their business. They do however, make it clear the buyer is not to resell it for a profit. This opens up a whole can of worms. Leave it to Perry! ROFL

This lol

I just think it's interesting that some bash a dealer and not the individual. The bottom line is the same, you think a dealer won't use this eBay auction to jack prices up?

 

[2012YellowBoss]

Here's something to consider. A Boss worth $63k today (MSRP + 20k) or $63k invested at 7% annual return (conservative long term equity fund return) for 40 years. The mutual fund would have a future value in 40 years of $943,391. As you can see cars are a horrible long term investment no matter what they ultimately bring at an auction. This doesn't even account for the maintenance and restoration costs that go into cars over a 40 year period.

Another way to look at it is the value in 40 years of $20k invested today is $299,489. You could have another Boss and a nice addition to your retirement.

Ding, we have a winner!

(except you forgot 63,500 plus tax and tags )

 

[ShaneM]

but you can't drive a bond.

vito, this car is such an oddity that i think most people will recognize its nothing but a one time thing. i had a weird ass dream the toehr night that i sold the car and was all bummed, went and bought another and popped the hood to find it was #0302.

 

[cloud9]

but you can't drive a bond.

Nope and you can't tell the difference between 0001 and 0159 while driving it either ;D Good luck on the sale and on finding another one to drive right away.

 

[ufnavy06]

There's no question cars are horrible investments unless the only return you seek is satisfaction when you drive it.

Good luck on making a little bit extra on it and hopefully you'll be able to get another one soon.

And as to your dream, if that happens, you were meant to have one of the 'special' cars, lol!

 

[jimprw]

but you can't drive a bond.

vito, this car is such an oddity that i think most people will recognize its nothing but a one time thing. i had a weird ass dream the toehr night that i sold the car and was all bummed, went and bought another and popped the hood to find it was #0302.

There you go...powers from the great beyond are showing you the way!