The situation means buyers could be more popular than ever at this year's Woodward Dream Cruise, which has always stimulated the classic car market as sellers time their listings to appeal to would-be drivers in search of a cruising car, and spectators are inspired to own Thunderbirds or Camaros. The 14th Annual cruise is Aug. 16 along Woodward Avenue, from Pontiac to Eight Mile.

The Dream Cruise is 'like Christmas' to auto traders like Larry Zahra of Classic Auto Rentals in Birmingham. Zahra increases prices by 25 percent during the cruise, and rents out 90 percent of his inventory two weeks before. Cars generally range between $1,400 (for a 1963 Chevy Impala convertible) and $2,000 (for a 1969 Camaro) per week.

Rob Huting, manager of online marketplace Auto Trader Classics, said the number of visitors to his site spikes over the couple of weeks spanning before and after the cruise.

'The Dream Cruise gets over a million people interested in classic cars,' Huting said. 'It's the Super Bowl of classic cars.'

Demand is still healthy for classic cars at the cheapest and most expensive end of the market, dealers say. But middle-market muscle cars, priced between $30,000 and $100,000 and usually financed with home equity loans, are not selling as well, said Scott Johnson of ClassicCarValues.org.

The high-end market is made up of rare cars in 'excellent condition' while the low-end market, usually priced $10,000 or less, includes cars like third-generation Corvettes and second-generation Firebirds and Camaros in 'average to good condition,' Johnson said.

'It's probably not perfect, but it looks nice and they can drive it.'

Demand for clone or tribute cars, like a Pontiac Tempest disguised as a GTO, has also declined with the economy.

'The value is in originality,' Johnson said.

Emotional time for sellers

Though buyers have the advantage, sellers should not despair, said Roger Falcione, president of ClassicCars.com.

'Like in real estate, realistic pricing and patience will pay off.'

For drivers trying to part with their cars, the sales process can be emotional and tormented.

'I'm in love with the car,' said Joe Dogariu, a psychologist from Royal Oak with a red 1966 Corvette for sale. 'I've had it forever. It's like a child to me.'

Dogariu, who bought the car in 1989, no longer has time to drive for leisure. He has heard from five interested buyers since placing a newspaper classified ad last weekend to coincide with mounting interest in the Dream Cruise.

Though he thinks the car could fetch between $80,000 and $100,000 at auction, he has priced it at a 'realistic' $50,000.

Dogariu has adopted a win-win approach to the market: 'If it sells, fine. If it doesn't, then I still have the car.'