FWIW...

This month in Hemmings, they covered the McCormick Palm Springs auction in southern California. Among other things in the auction, they did a short write up on a 1985 RX7 GS (I think). This particular car was cream color, in 3+ condition (slightly above average), and did not sell at its top bid of $2,500. Here's what they had to say:

"The chocolate brown interior was clean, and offered a newer stereo in the dash. The cream body was arrow-straight, although ugly spats, crooked badging, and some chips on the body took away from it; the alloys were unscraped, however. We're of the opinion that Japanese sports cars like these and the early Z's will be taking off in value in the next few years; maybe the seller was wise not to accept the low bid."

For those of you unfamiliar, Hemmings Motor News is a monthly classifieds for the collector car hobby. They have about 100 pages of ads and articles on the hobby, and then 500 to 600 pages of classified ads. If you have never bought one, pick one up at your local bookstore sometime. It is a fascinating read.

 

That's great that our 7's are getting some classic car recognition. I recently had to get mine appraised to get a classic auto insurance policy, and the guy did a lot of pricing research as part of the appraisal. He showed me a few cars that were going for $4-5k in all original, grade 1 condition. He told me that my car was a solid 2, and if I get a professional paint job to fix the chips on the nose / hood it would easily be a grade 1 car. I was surprised when he recommended that I insure it for no less than $6k, and I was even more surprised when I got the insurance quote - $189 / year, $100 deductible, no mileage limit. The premium will drop even more when my car hits 25 years old and I get antique status.

 

I love this. $500 to buy it and I'm part of a classic car class that is very well known. I'm working to restore it and tune it and make it a very sexy and clean car. It will go up in price hopefully. I also feel very cool because I'm one of only two first gens in my area.

 

Hey Mazdo, who did you have do your insurance?

Way cool that our FB/SA are being finally accepted as classics.

 

KY Farm Bureau. They rock.

 

My theory is that a good car becomes a classic after 25 years. That's when the guys who liked the car when they first saw it at age 25 (but they were busy with family affairs) have reached about 50, have their kids in school, equity in the house, and have a chance to satisfy their first interest. The more stock a car is the higher it's value. You may like the aesthetic of a wing, fancy wheels or tinted windows, but that's not an improvement on what your prospect saw 25 years ago. I'm keeping my 3 FBs stock, except that I'll install this Sterling Nikki carb in the 83GS (probably) for my own use, but keep the original available for when I sell.

 

So I'm driving by when I see $500 for a pretty white RX7...it turns out to be a 1980 12A (5 speed) with 147K miles all in Cali. The guy says give me $400 cash and its yours...so I do. I look in the glove compartment and find that the original owner brought the car to the dealer (stamped and dated) for *every* scheduled maintenance until 100K when the next owner takes over and does the same until 132K, then the last guy gets it, neglects it, dings up the front end and sells to me.

Here's the list of problems and thoughts on what I need to do, but would like your feedback (fyi, I know enough auto repair to be dangerous):

1. Brakes don't work well (local brake shop says it needs new front rotors and master cylinder is leaking) and parking brake holds -- this forum's faq says it could be vacuum issues too so I'll try the suggested sleuthing

2. Steering is a little sloppy -- maybe when brakes get fixed it tightens up?

3. Idles high (1500 rpm) and backfires alot (especially when engine is cool) -- plan is to follow idle adjustment tips from faq

4. Tranny and oil pan seals leak -- try tightening otherwise change gaskets?

5. Smells like exhaust when driving -- research says to replace rear hatch gasket (makes sense, 'cause hatch area was wet from the last car wash)

FYI, it still has the original paint (excellent condition), vinyl seats are torn up and interior panels are discolored. Smooth acceleration with a nice light touch to the clutch and no noticeable engine or tranny issues...it's a real gem and probably worth the investment wouldn't you say?


Thanks for the input