https://www.hagerty.com/media/market-trends/with-inflation-the-collector-market-has-retraced-itself-to-december-2019/
good read, thanks for sharing
Quote from: stephen_becker on January 30, 2024, 02:47:11 PM
https://www.hagerty.com/media/market-trends/with-inflation-the-collector-market-has-retraced-itself-to-december-2019/
As with anything else, the market is subjective to the specific car, and not the market as a whole, at least when it comes to vintage Shelbys. Sure there are still outliers that make people think the whole market is on a downward trend, but some of that has to do with some of the larger pocketed buyers having already found what they want for their collections, taking them out of the equation. Of course, and I've said this for 35 or so years, all it takes is two people who want the same vehicle to cause the market to skyrocket. The same applies when one of those people is no longer in the market, thus causing a perceived free fall downwards. I see a lot of folks in the stock market and residential and commercial realty like that as well.......Now is not the time to panic and sell, sell, sell, now is the time, while we are still able, to enjoy what we have. If you want to sell, sell, but if you feel that you need to sell, afraid of missing out on the higher market that was here this time last year, then perhaps viewing the antique car in your garage as an investment, instead of a toy, was not the best idea. In other words, if you are in that last mindset, lets face it, you already missed the high of the post Covid market madness, so sit back, and just enjoy the car, even if it means going out to the garage once in a while, pulling the car off, and just staring at the beautiful lines of whatever is in front of you.
Just my two cents worth.
Bill
Quote from: Bill on January 30, 2024, 04:47:05 PM
As with anything else, the market is subjective to the specific car, and not the market as a whole, at least when it comes to vintage Shelbys.
+1
10 mediocre cars coming up for auction and selling for a lower price (that they should sell for) is not a market correction/decline.
Here's another take on the Collector Car market, per Hemmings.
https://www.hemmings.com/stories/auction-market-reset-2023/#:~:text=Collector%20cars%20are%20square%20in,%2C%20according%20to%20Classic.com.
That's a good article as well - Reset is on for just about anything collectable at this point
Not sweating it,I'm in it for the "long term"...Hell,I've had the thing since 82.... ;)
Me too ..had mine since 72,,,, 8)
Does the "down slope" make it easier for new or younger enthusiast to get in?
It seams at the last two major auctions, the custom modified cars were selling very well. The selling prices felt more than the bone stock cars. Did I miss read that?
Last, here is an example of down slope with a 1968 GT-E Cougar. Both cars appears to be well restored and the same color cardinal red. The one that sold in 2024 was an XR7 with leather interior and the other in 2011 was standard. They both sold exactly the same, $181,500 with fees. Correction, the 2024 sale GTE with fees was actually $165K. The 2011 GTE sale was the $181,500. Who got the better buy? Thirteen years difference. The 2024 sale in 2011 dollars is $135,708 $123,370. The 2024 GT-E Cougar was a better buy and with more options. (Yes, only one example, but does illustrate the trend.)
Cory
P.S Thanks Brian Silvertonford for the correction.
Wish it was down on G50 911s or Ducati super sports
Quote from: 6s1640 on January 30, 2024, 11:36:30 PM
Does the "down slope" make it easier for new or younger enthusiast to get in?
It seams at the last two major auctions, the custom modified cars were selling very well. The selling prices felt more than the bone stock cars. Did I miss read that?
Last, here is an example of down slope with a 1968 GT-E Cougar. Both cars appears to be well restored and the same color cardinal red. The one that sold in 2024 was an XR7 with leather interior and the other in 2011 was standard. They both sold exactly the same, $181,500 with fees. Who got the better buy? Thirteen years difference. The 2024 sale in 2011 dollars is $135,708. The 2024 GT-E Cougar was a better buy and with more options. (Yes, only one example, but does illustrate the trend.)
Cory
https://www.barrett-jackson.com/Events/Event/Details/1970-MERCURY-COUGAR-ELIMINATOR-428-SCJ-272290 $220,000 with fees!!! :o
I will believe it when all the dealers start lowering their prices!
😂
Just to be clear........
I'm falling on the knife for you all and offering BIG money currently on great cars. I'm calling it the "END OF TIMES BUY BACK BLOWOUT EVENT"!!
Hagerty is totally correct..... THE SKY IS FALLING.
Get out NOW.... I'll take the LOSS for you!
This offer even applies to original Cobras, 65 GT350s, GT40s etc etc...... the bigger the value the bigger the potential loss now that the world is coming to an end! Get rid of em while someone (me) wants to buy them!
Wish there was a little emoji I could insert here of a guy laughing himself out of his chair.
Nonsense articles written about the general market which is made up mostly of mediocre/subpar cars. Mediocrity has been selling for too much for the last 10 years...everyone in the business knows it. And many dealers exclusively deal in mediocrity and are benefited by the wild swings. Sell it for too much today to an enthusiast who doesnt know his head from a hole in the ground...buy it back a few years later for much less...rinse, repeat.
The great stuff hasn't seen much if any change from the last few years and I highly doubt it will outside of a sizable macro economic event. Even in that case, just as it always has been in the past, that event would be temporary.
In closing.... always best to throw in the mix that classic cars are not great investments. You should buy them simply because you love the cars. At BEST, they are a good place to "Park" cash....but they aren't "investments" contrary to the information which sources like Hagerty are constantly cramming down the hobby's throat.
Kind regards,
Vern
I shared an article. I put no comment up about it personally. Someone else on this thread believes that I think the sky is falling. I never said that. I never said anything. I simply shared an article.
Quote from: stephen_becker on January 31, 2024, 09:04:48 AM
I shared an article. I put no comment up about it personally. Someone else on this thread believes that I think the sky is falling. I never said that. I never said anything. I simply shared an article.
Post corrected ;)
Got to love Vern....What it is worth, nothing for me, my first Shelby was 2500.00....I sold it, thats OK, years later I bought another one, let them come down, let them go up, I do not care....I still would not want to pay too much, but if I want it?
I am waiting for the FGT to fall in value....I like the car! Still looking for a Mustang II Cobra or King, why? Because I like the car....How many times do I got to say it.....I like Torino Sports also, I like mid 70's LTD Landaus.....BRING THEM ON!
Well, since I retired in 2021, the annual miles I've put on my 66 have more than doubled. That's the only slope that concerns me at the moment. And that slope is going UP.
Quote from: s2ms on January 31, 2024, 01:43:41 PM
Well, since I retired in 2021, the annual miles I've put on my 66 have more than doubled. That's the only slope that concerns me at the moment. And that slope is going UP.
Good for you. Keep working that slope. :D
Quote from: 67 GT350 on January 31, 2024, 10:29:13 AM
Got to love Vern....What it is worth, nothing for me, my first Shelby was 2500.00....I sold it, thats OK, years later I bought another one, let them come down, let them go up, I do not care....I still would not want to pay too much, but if I want it?
I am waiting for the FGT to fall in value....I like the car! Still looking for a Mustang II Cobra or King, why? Because I like the car....How many times do I got to say it.....I like Torino Sports also, I like mid 70's LTD Landaus.....BRING THEM ON!
and that my friends is the true meaning of life....that's it, not an investment it is all about "I like the car" pure satisfaction and happiness....profound words "I like the car" !
Quote from: 6s1640 on January 30, 2024, 11:36:30 PM
Last, here is an example of down slope with a 1968 GT-E Cougar. Both cars appears to be well restored and the same color cardinal red. The one that sold in 2024 was an XR7 with leather interior and the other in 2011 was standard. They both sold exactly the same, $181,500 with fees. Who got the better buy? Thirteen years difference. The 2024 sale in 2011 dollars is $135,708. The 2024 GT-E Cougar was a better buy and with more options. (Yes, only one example, but does illustrate the trend.)
Cory
I agree with your conclusion that the recent one was a better deal but for different reasons. The first example (and I know both cars well) was a home run for the seller. The market had peaked, he was able to save the original numbers matching side oiler through a minor miracle and some very good contractors. The buyer had Bob Perkins at his side and was well heeled, and he had competition from an equally well heeled individual. The car was the first restoration by a pretty good amateur.
The latest one was far better both in the car that they started with, the options, and the restorer. The finished product was far better. We know more today than we did in 2012. There were fewer bidders in the room, no one hired Bob, and the results are what they are. It's hard to say if there was a trend involved when so few cars change hands.
No two cars are alike so there is no "market". Over time different makes and models do move up and down but even in the most general sense it is still ends up car specific as to what brings more. I have been to auctions many times, most of the cars are awful.
Quote from: Royce Peterson on February 01, 2024, 10:11:09 AM
Quote from: 6s1640 on January 30, 2024, 11:36:30 PM
Last, here is an example of down slope with a 1968 GT-E Cougar. Both cars appears to be well restored and the same color cardinal red. The one that sold in 2024 was an XR7 with leather interior and the other in 2011 was standard. They both sold exactly the same, $181,500 with fees. Who got the better buy? Thirteen years difference. The 2024 sale in 2011 dollars is $135,708. The 2024 GT-E Cougar was a better buy and with more options. (Yes, only one example, but does illustrate the trend.)
Cory
I agree with your conclusion that the recent one was a better deal but for different reasons. The first example (and I know both cars well) was a home run for the seller. The market had peaked, he was able to save the original numbers matching side oiler through a minor miracle and some very good contractors. The buyer had Bob Perkins at his side and was well heeled, and he had competition from an equally well heeled individual. The car was the first restoration by a pretty good amateur.
The latest one was far better both in the car that they started with, the options, and the restorer. The finished product was far better. We know more today than we did in 2012. There were fewer bidders in the room, no one hired Bob, and the results are what they are. It's hard to say if there was a trend involved when so few cars change hands.
Hi Royce,
I made a correction to my GT-E Cougar reply No. 8. Brian Littlefield had a correction for me that makes the 2024 sale even a better deal. I agree, one example does not make a trend, but does support the observation.
Take care
Cory