L34 fan shroud adjusted for inflation

Discussion in '1970 - 1973 Specific' started by DessertRat, Aug 10, 2021.

  1. DessertRat

    DessertRat Member

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    Hello,

    There is another thread going on discussing the value of the one piece fan shrouds for 1970 L34 cars (which I think are the same for the LS3 cars).

    I didn’t want to hijack the other thread, but wanted to get some information on inflation, which I don’t completely understand.

    I googled the definition which says “a general increase in prices and fall in the purchasing value of money”.

    That was more or less my understanding of the concept before I looked it up.

    During the above mentioned forum discussion on the value of this hard to find part, one of the members mentioned that he bought one for $400 from D&R classic automotive.

    I’m waiting to hear back from him to see what year he bought that fan shroud for $400.

    I’m just curious how much the price would go up in say 20 years, only taking inflation into consideration. (I’m not sure that it was 20 years. Could have been a lot less).

    I’m only asking because I tend to overpay for older/rare parts, because in the back of my mind, I know I was making $28 an hour in 2001. I’m still doing the same job today and making $57 an hour.

    I’m just reaching out to the guys that understand economics and seeing if they can tell me roughly what $400 from 20 years ago would be today.

    I’m not sure that the other member bought that fan shroud 20 years ago, i’m Just putting a round number on it.

    Thanks for any info or input!
     
  2. camarochevy1970

    camarochevy1970 Veteran Member

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    $1 in 2000 is $1.58 as of 2021. I can't find anything into this year for comparison
     
  3. DessertRat

    DessertRat Member

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    Ok thanks for the info.
     
  4. Twisted_Metal

    Twisted_Metal Administrator Staff Member Lifetime Gold Member

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    It isn't only inflation driving these prices... It's primarilly supply and demand.

    These parts could be found, if you were patient, 20 years ago.
    The rise in popularity of these old Camaros has created a demand for people to restore them and the original parts have become almost impossible to find.

    Someone who needs those last few original parts (for points judging) will pay serious money because the seller and buyer both understand the rarity and there is no other option.
     
  5. DessertRat

    DessertRat Member

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    Yes. That makes sense to me. I think that’s how I justify paying a little more than I should.

    Especially when it comes to original parts and original cars.

    In the back of my mind, I keep thinking that pretty soon there will be no more original owner cars for sale, with regards to early 70’s cars.

    Because if a 25 year old guy bought a brand new car in 1970 he would be 76 years old today.

    Im not saying 76 is old, I’m just saying in 10 years there may be only a handful of original owner 70-73 Camaros in the world.

    Or I may just be talking myself into buying another car :)
     
  6. DessertRat

    DessertRat Member

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    John Gialanella got back to me. He said it was around 1995 or 1996 when he bought that nice used fan shroud for $400. So around 25 years ago.

    I absolutely add on a good amount for the damn-near-impossible-to-find factor, but still can’t get up to $2,700 for a used one....and I have one!

    But maybe twisted metal is right. I don’t need one, and there in lies the issue. If I needed one maybe I would pay it! :)
     
    Last edited: Aug 10, 2021
  7. rotinrob

    rotinrob Veteran Member

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    These old parts don't follow the usual trends regarding inflation, they might closely follow the laws of supply and demand (to some extent). I would wager that back in the 70's I could have bought one in a junk yard for a couple of bucks (might have been free if I was buying big dollar stuff) if I could have found one. That few dollar investment would make the increase in most of my mutual funds look puny dollar for dollar. Hindsight being what it is I should have bought that 440 6 pack Super Bird for $600.00. There was always a small supply of big block 2nd gen Camaros and an even smaller demand for a part like this. Remember at one time, the middle to late 70's, that these were just old cars that you couldn't buy fuel for. Junk yards that had them need to turn a profit and as time goes on they need to turn over their inventory to newer stuff that people are buying parts for (part of the supply and demand equation on our parts). Some of our parts are rare in any condition and will trade for a price that the buyer and seller can agree on. I always pay more than I would like for parts (free is good) but I don't do this to make money (that would be a bonus) and I do occasionally get burned on deals (or make out like a bandit).

    rotin
     
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  8. DessertRat

    DessertRat Member

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    Well put Rotin.

    The “supply and demand “ makes more sense to me than the inflation thing. I think I just threw that out there because I hear that term used now and again.

    And if I add to the equation the fact that just about everything in my life costs 3 times what it used to in the late 90’s (except gas...that costs 5 times more!) I can justify paying a lot more money for a rare part.
     
  9. 70lt1z28

    70lt1z28 Veteran Member Gold Member

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    The inflation factor only works if the supply and demand stays constant over time. Supply and demand pretty much rules in this hobby. If the demand for the shroud drives the price up too far and the reproduction parts companies see a future need, someone will tool a perfect replacement and the cost will go down. The real issue for them is what is the future demand? I've been going back and forth on making some exact 1970 Z28 wheel lug nuts and past maybe a dozen or so initial sets for the very discriminating restorers, I may not make my tooling costs back.
     
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  10. john Gialanella

    john Gialanella Veteran Member

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    Members are saying that besides inflation, supply and demand is a factor for the price of rare used or NOS parts. But why is it only for the parts of Camaro's from the early 1970's and not for an early 1970's Camaro like SS396 or Z-28. When I bought my present SS 396 Camaro L-34 in June 2012 for $29,500.00 some members seem to think that is too much ( It is in nice shape) not perfect, but nice. They seem to think BB 1970 Camaro's should not go for that amount. That seems strange since the NOS parts are through the roof.
    John.
     

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