Despite all the doom and gloom you hear on the news about the economy and this country’s unemployment rate, at least 100 of my fellow Americans have large amounts of money to burn. The special edition Neiman Marcus Camaro convertible we told you about two weeks ago went on sale yesterday (pre-order, actually), and sold out in a mere three minutes. Just to refresh your memory, the NM Camaros come loaded with options and dressed in Deep Bordeaux paint, complete with ghosted stripes. They’ve got unique 21” wheels and a matte silver windshield frame, but here’s the downside: all that bling, and the opportunity to be among the first with a Camaro ragtop in your garage, will set you back $75,000. That’s roughly 80% more than the cost of a loaded Camaro SS convertible sold by your Chevy dealer instead of an upscale department store.
But that’s OK, because you’re buying it as an investment. Surely the NM Camaros will retain value better than the standard production cars, right? Um, not really. Take the 2002 Ford Thunderbird, for example. Neiman Marcus sold a special edition of that, too, and today the wholesale value of an NM Thunderbird is roughly $10,540. The value of a loaded Ford Thunderbird from the same year is $9,832, so the NM car is worth a whopping $708 more. As I recall, the NM ‘Birds were about double the price of a Thunderbird sold by Ford in 2002, so history doesn’t exactly support the NM cars as a sound investment.
If you’ve got $75k to drop on a Christmas gift, you probably don’t care much about things like depreciation of your automobiles. On the plus side, that probably means that the majority of these Camaros will be drivers and not museum specimens, and I say that’s a good thing. If you’ve got the money, who cares what anyone else thinks about how you spend it?