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The slow crash of classic car prices
Posted by: phill66 ()
Date: May 17, 2017 10:46AM

The global asset class of collector cars ... is quietly but persistently and very
unenjoyably experiencing a downturn that parallels and in some aspects already
exceeds the one during the Financial Crisis.

Market observers have cited a split in the market between entry-level vehicles and
the top of the market, where more affordable cars are showing strength as the top
end is contracting.


[wolfstreet.com]

[corvaircenter.com]

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Re: The slow crash of classic car prices
Posted by: MattNall ()
Date: May 17, 2017 10:49AM

Right... old news!! good for those of us who wish to sell this year..





MODERATOR
Sea Mountain, between Charleston Harbor and Coos Bay! SW Oregon Coast
Click HERE for My Website...Click HERE for My TechPages!
..............................110-PG.................................................Webered-Turbo

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Re: The slow crash of classic car prices
Posted by: phill66 ()
Date: May 17, 2017 10:56AM

That's why I highlighted "more affordable cars are showing strength".

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Re: The slow crash of classic car prices
Posted by: moomba32 ()
Date: May 17, 2017 10:59AM

Old cars are very difficult to price because there are no two alike and everyone has a different opinion on most everything. Someone spends $100,000 building a car with the best of everything and is able to sell it for $30,000 then someone sees that sell and thinks his same model car with a MAACO paint job should sell for as much.
I didn't sink a ton of money into my cars so if I need to sell one day I hopefully will get some of it back, any extra is a bonus.

Don Marlowe
66 Monza 2Dr 140/pg
64 Spyder convertible now, 110/pg
Eutawville SC

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Re: The slow crash of classic car prices
Posted by: jcorvair ()
Date: May 17, 2017 11:07AM

Notwithstanding the strength of Barret Jackson like auctions, I think the number of people that like the cars we like is on the decline. I imagine that sometime in the future, and possibly my lifetime, prices of even numbers matching C2 and C3 Corvettes, Hemi powered Mopars, and maybe all mustangs smiling bouncing smiley will start to drop due to lack of interest from younger people who grew up hot rodding Honda Civics.

James
Maple Ridge, BC

2013 Hyundai Santa Fe Turbo
2013 Hyundai Elantra (daughter's future car)
2009 Silverado HD Crew Cab 4x4 (for haulin cars, trailers, fifth wheels, quads, etc.)
2013 Victory Car Hauler (enclosed)
2015 Polaris 570 EPS
2016 Polaris 570 SP

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Re: The slow crash of classic car prices
Posted by: Demon-Xanth ()
Date: May 17, 2017 11:33AM

I've actually come to the point that I don't think I can actually sell my car for a reasonable price. The condition isn't good enough for a collector and the next step of the work to make it so exceeds the price of one that is. Paint and body work is expensive if you don't have time and skills.

'61 Monza 900, 3 speed. Roams the streets of soon to be Stafford, Va
Cars need to drive to be alive. One that never leaves the garage may be perfect, but dead.

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Re: The slow crash of classic car prices
Posted by: dhomuth ()
Date: May 17, 2017 11:47AM

This is a hobby.
As an investment, though some few may appreciate, over time that will top out and then depreciate.
If you don't enjoy the car for its own sake, don't even bother with it. If you don't drive it, you don't own a car -- you own a full-scale model.

1966 Corvair Corsa convertible
Same car I bought in 1/68 the night before I went to Viet Nam he second time. Got it back in 8/15. Plan its first public runout come July.


[corvaircenter.com]

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Re: The slow crash of classic car prices
Posted by: 67 airvair ()
Date: May 17, 2017 12:08PM

Look at what happened just last year when I took my '84 Sub and trailer to the auction. When I was looking to list them with the company, the auction people said I should be able to get $15-20,000 out of the Sub and $10-15,000 out of the trailer. It's the main reason I listed them and took the time and expense to go there. But what I got was half of their estimate.

As I was waiting for my rig to go thru, I watched the other vehicles and noted their prices. Most sold, but for what I felt were wholesale or bargain basement prices. When I realized that, I knew I was in trouble. But what do you do? A bird in the hand, two in the bush. Yea, right. So I sadly took the single bird. sad smiley

Maybe what I had isn't on very many people's "collector" list, but what I experienced pretty much verifies what the article is saying.

I just don't want to test out the "more affordable cars" part of it.

-Mark

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Re: The slow crash of classic car prices
Posted by: FLAVert ()
Date: May 17, 2017 12:57PM

jcorvair Wrote:
-------------------------------------------------------
> Notwithstanding the strength of Barret Jackson
> like auctions, I think the number of people that
> like the cars we like is on the decline. I
> imagine that sometime in the future, and possibly
> my lifetime, prices of even numbers matching C2
> and C3 Corvettes, Hemi powered Mopars, and maybe
> all mustangs smiling bouncing smiley will start to drop due to lack of
> interest from younger people who grew up hot
> rodding Honda Civics.

I could not agree more!

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Re: The slow crash of classic car prices
Posted by: MattNall ()
Date: May 17, 2017 01:29PM

dhomuth Wrote:
-------------------------------------------------------
> If you don't enjoy the car for its own sake, don't even bother with it.

=========================================================

So true! Why I have just two LM Coupes....could care less about another model.... or any other old cars...regardless of worth or uniqueness.

I've had many of the popular Collectables over the years...and they were all fun in their own ways...but don't need one now...

I've got a'97 T-bird..... just because I never owned one in the 90's and after driving a few Friends cars I could see if I didn't have an '87 Supra Turbo that the Bird would be the ticket...so a few years ago, I saw one I liked, and bought it..





MODERATOR
Sea Mountain, between Charleston Harbor and Coos Bay! SW Oregon Coast
Click HERE for My Website...Click HERE for My TechPages!
..............................110-PG.................................................Webered-Turbo

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Re: The slow crash of classic car prices
Posted by: phill66 ()
Date: May 17, 2017 04:27PM

MattNall wrote:
-----------------------------
> ....I have just two LM Coupes....could care less about another model.... or any
> other old cars...regardless of worth or uniqueness.

===================================================================================

I have just one LM Coupe, and could care less about owning another model
or any other classic car, regardless of worth or uniqueness. However, I do enjoy
looking at, reading about and discussing other's Corvairs and classic cars. Since I
tend to gold plate and repair what ain't broke, I only need one to throw $$$ at.
If I ever sell it, I'll be lucky to get 50 cents on the dollar invested and don't
care. As stated by others, it's hobby and I enjoy the car for its own sake.

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Re: The slow crash of classic car prices
Posted by: Mel ()
Date: May 17, 2017 05:12PM

Going to lose huge on all my cars...........don't care smiling smiley

Orangeville, Ontario. CANADA

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Re: The slow crash of classic car prices
Posted by: Lane66m ()
Date: May 17, 2017 05:24PM

I don't care what price my heir gets on my cars. It isn't going to matter one bit.

Al Lane
Ellabell GA

1966 Monza Coupe, 110 hp, 4 Spd
1966 Corsa Turbo Coupe, 180 hp 4 Spd
1964 Greenbrier Deluxe, 6 dr, 80 hp car engine, PG
2015 Chevrolet Malibu 2LT
2015 GMC Sierra SLT Crew Cab
1968 Camaro SS Coupe 350 CI 295+ HP PG
1947 Farmall A tractor 15 hp


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Re: The slow crash of classic car prices
Posted by: vwbusman66 ()
Date: May 17, 2017 05:34PM

Lane66m Wrote:
-------------------------------------------------------
> I don't care what price my heir gets on my cars.
> It isn't going to matter one bit.
Can I be one of your heirs?
(specifically to the turbo coupe) grinning smileygrinning smileygrinning smiley

-------------
James Keller
Kingsville, MD (21087)
Currently Corvair-less but on the hunt

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Re: The slow crash of classic car prices
Posted by: Lane66m ()
Date: May 17, 2017 05:41PM

Jqmes:

It would a high price to pay to be one of my heirs. I would not begin to estimate the time you would have invest much less any funds.

Al Lane
Ellabell GA

1966 Monza Coupe, 110 hp, 4 Spd
1966 Corsa Turbo Coupe, 180 hp 4 Spd
1964 Greenbrier Deluxe, 6 dr, 80 hp car engine, PG
2015 Chevrolet Malibu 2LT
2015 GMC Sierra SLT Crew Cab
1968 Camaro SS Coupe 350 CI 295+ HP PG
1947 Farmall A tractor 15 hp


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Re: The slow crash of classic car prices
Posted by: Melb-Mike ()
Date: May 18, 2017 06:18PM

It all boils down to why did you buy the car ?

I've always said that investing in cars is a poor retirement plan. I buy cars that give me pleasure and fit my needs or interests. I go into it knowing I will not likely come close to getting out of it what I put in it. That's Ok, I'm having a blast doing this and I will continue until I can't turn a wrench or pop the clutch.

55 to 57 T-birds were hot 5 years ago, now they're down by at least 20%. Big block C2 and C3 Corvettes are down too. However, they had reached OMG levels and were really overpriced. I call it a market adjustment. Like real estate, everything has its ups and downs.

64 Greenbrier
64 Spyder (needs restoration)
65 Corsa 140, restored
66 Corsa turbo, restoring now
66 Corsa 140 "RR" code coupe fully restored
67 Pontiac GTO restored
69 Corvette 427 convertible restored
2004 Caterham R400 (Lotus super7)my race car
2015 Porsche Panamera S
2015 Corvette Z06
1965 AC Cobra (Factory Five)

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Re: The slow crash of classic car prices
Posted by: hardcase ()
Date: May 19, 2017 10:52AM

I think that unless you're a player in the business, classic cars as an investment is a losing proposition. As a hobby, they're a blast, but if you're trying to make money, it's the wrong game.

Just as an FYI, if a guy invested $3000 in a Dow Jones index fund in 1969 (if such a thing existed) and let it ride, it would be worth around $350,000 today.

Drew D.
Meridian, Idaho
------------------------
1964 PG Monza
1961 Dodge D100
2013 Camaro SS
2013 Honda Civic Hybrid (it offsets the Camaro, right?)

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Re: The slow crash of classic car prices
Posted by: rowin4 ()
Date: May 19, 2017 12:40PM

A guy that used to work for me asked me one day years ago if I had $1000. to invest. He told me that gold was going to be sold the next day starting at $35. per ounce. I told him , why the hell would I want to buy gold. There's market for everything , you just have to be smart enough to invest at the right time.

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Re: The slow crash of classic car prices
Posted by: Nickshu ()
Date: May 19, 2017 12:59PM

Mel Wrote:
-------------------------------------------------------
> Going to lose huge on all my cars...........don't
> care smiling smiley


Me too. Don't care. It's a hobby. I use other avenues for investments.

Nick
_______________________________________________________________________
1964 Monza Spyder Convertible #435 - Rotisserie restored - Check out my restoration thread here: [corvaircenter.com]
Recreational Mechanic/CORSA Member/COG Supporting Member/US Navy Veteran
Northern Colorado, USA

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Re: The slow crash of classic car prices
Posted by: phill66 ()
Date: May 19, 2017 02:09PM

According to Donald Osborne, Automotive Valuation Services, investing in classic
cars doesn't begin until $50K and up per vehicle value. You might recognize him from the
"Assess & Caress with Donald Osborne" segment on "Jay Leno's Garage" and "What's
My Car Worth" TV shows.

With the exception of a Yenko Stinger, I don't think any Corvair makes it past that
threshold, even though you might have spent that on it!

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