the effects of retroactive brand loyalty

"JasonStern911" (JasonStern911) 06/19/2016 at 16:10 • Filed to: None

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Came across some interesting cars while browsing the local Craigslist.

First off, we have a 1990 Pontiac Grand Prix Turbo:

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Everyone knows the GNX, but few realize that ASC/McClaren also worked with GM on turbocharging another car in that era - the Pontiac Grand Prix. And while the engine is inferior to the Buick 3800 and the front-wheel drive chassis couldn’t handle GNX power if it wanted to, even with some work needed it seems like a steal given a $1,200 asking price.

Next, we have a 1985 Subaru RX:

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By all means, a cool car. But at $5,000, this Leone “pre-cursor to the WRX” proves that there is a bubble in Subaru cars in general. Unlike the Grand Prix, the motor has already blown and been swapped in the Subaru. The Subaru does have 4WD, but let’s be clear - this isn’t Subaru’s AWD system. This is a FWD car like the Grand Prix in all but loose surface situations.

Both are rare cars, so why the $3,800 price difference? Condition is obviously a factor, but ultimately I’d speculate that it comes down to, at least local people, having some halo around the Subaru brand and some negative stigma around domestics outside of trucks/SUVs/Mustangs.

Aaron M - MasoFiST > JasonStern911 06/19/2016 at 16:21

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The entire price difference comes down to what the owner wants to charge. The fact that both cars are rare means there isn’t an efficient market for them, so there’s not much to really learn, nor is there enough information to “prove there’s a bubble”. My guess is the Subaru guy is charging more because he’s trying to recoup some of the costs of his engine rebuild.

Butsen Katsun > JasonStern911 06/19/2016 at 16:29

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Dang, a “TGP”! Only saw one once. Nice find! Too bad it’s clearly suffered from deferred maintenance.

That’s a cool Subaru, never even knew about it! More sweet 80s cars!

That Bastard Kurtis - An Attempt to Standardize My Username Across Platforms > JasonStern911 06/19/2016 at 16:39

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I love that GP’s ad. Leaking all fluids.

Oil? Sure. ATF? Absolutely. Coolant? You bet! If there's a fluid, my car can leak it.

JasonStern911 > Aaron M - MasoFiST 06/19/2016 at 21:28

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Oh, there’s a Subaru bubble. Outside of the WRX, name a single non-classic 14+ year old JDM econobox with ~200k miles that people are asking $6k minimum.

Aaron M - MasoFiST > JasonStern911 06/20/2016 at 08:30

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Define non-classic. Also:

http://worcester.craigslist.org/cto/5630000654…

http://providence.craigslist.org/cto/5615263247…

http://southcoast.craigslist.org/cto/5621164146…

On craigslist, people can list whatever price they want. That is a 17-year old Acura for $10,000 in there. Listed price on craigslist is an utterly meaningless data point.

As for WRXs in particular, it’s likely that the prices for running ones will go up unless people stop modifying and blowing them up. That’s just plain old supply constriction.