Interesting Discussion - AACA General on Trouble Selling Cars

I rarely have time to check whats going on in the AACA general forum but happened to see this thread at the top and it held my attention all the way through. There are some excellent comments mixed in among average responses. The hobby car environment changes with time and this kind of indicates where we are today.

http://forums.aaca.org/f169/how-anyone-else-doing-who-trying-376804.html

OK Jason: It's usually price. Supply and demand = market price. pretty simple. We can't tell the market what our items are worth and get away with it for more than a New York second. The market tells us.

Way too many amateur flippers though and they are like a fly buzzing in my ear in the middle of the night. Mitch

I was last spring or late winter, but I sold my '60 Buick Electra 4-dr sedan in less than three hours by just advertising it on the BCA forum. I also had several other buyers waiting in the wings if the deal didn't go through, so seasonality may indeed be a factor. I also priced it fairly and provided an honest description and plenty of pix. The way I view it, I was simply just another caretaker and although I put $$ into it, I considered that investment to be the price for my fun ride with it, and I wanted it to go to another enthusiast, not a possible flipper. I probably broke even, but have no regrets for having enjoyed it for 4 years. And as a '63 Riviera owner, I never looked back with any regrets!

Too many guys watching car flipping shows. Everyone wants to buy for 300 bucks and sell for 6 figures.

I'd take advice from the guy that bought 3 cars for "good deals" and lower the price so some guy with too much money & time can get a deal because he really needs another car. (smirk).

The Ebay market has folks picking their cars apart, even the best of show car owner can pick apart his own car. And all these "I got a such a great deal" go blow your horn.

Too many guys watching car flipping shows. Everyone wants to buy for 300 bucks and sell for 6 figures.

Little do they know they have to put 7 figures into the $ 300 car to do this.

IMO, not as much money out there now for discretionary spending as there was say 10 years ago, which translates to lower demand. Supply going up as my generation continues to unload their toys.

Discretionary money has always been the key to the car hobby. Most of today's major clubs have a connection to founding members being a couple of Army buddies pooling together 50 bucks to share an old car in the prosperous postwar 1950's.

Today's ligitimus state would have a tough time handing that. And the monthly though the average discretionary dollars are about $50 per month today. Most people dole the $50 in three increments on smaller items than car stuff.

When one wants a collector car where thousands are spent the deal is going to be made with hobby earned money in the under $10,000 range. Moving up in cost you'll find the buyers to be us old guys still living on the wealth of the past. And we are getting better deals because of the lack of competition.

Now throw in the concept of sales and service from a legitimate business. Costs nearly double due to fees and taxes levied on the business owner.

I'm not complaining because it gives me more power in my personal area of the hobby, although in general it draws an end to the hobby as we knew it from 1940 to 1990. Being a hobby of transition, it will adapt, maybe to more of a spectator sport in the media. If it sells enough boxes of soap.

In 1899 automobiles were a plaything of the rich. Collector cars still are. A broad brush is out there painting people with money as evil. They buy old cars. Business is evil. They sell and fix old cars. If it is not a Prius it is evil. No one is collecting Prii. Prices are good for the evil rich. Contact me if you want to sell that old project car.

Bernie

In response to the original post on the referenced thread, it was mentioned that someone had seen the writer's Plymouth. Unless it's some Hemi powered 60' muscle car, I don't really know what kind of market there is for Plymouths. Could it be that this particular car was something that held a sentimental value to the would be seller and really wasn't a collectible in the truest sense?

From what I've seen on the Buick forums, there doesn't seem to be a lack of interested buyers IF the car being sold is really something that is desirable. Perhaps it has more to do with the car than the market.

Ed

I built a collection of Lionel trains over the past 25 years; the values are down about 40% from the early 90's, when it was common to see guys walking the aisles of the shows with $2-5k in their pocket. Those days are gone, which is why I started to dump my high end stuff 3-4 years ago. I tell other collectors, when they ask why I'm selling cheap, " you better carry some ketchup or mustard with you cause you'll be eating that stuff in a few years". No new blood, plus spectacular re-makes at 1/3 of the price of an original, = bad news. Luckily I bought a lot of it right, and if I have to eat what's left, then so be it. I need a hobby whan retirement comes anyway, which is where this story is going.

I do see a differnce in a cool car, though, in that laying down $5-15k for something that runs, can be used on a regular basis, and brings back memories, is feasible for many people reading this. And as long as you look at it as a labor of love vs a profit-making endeavor, you'll be fine.

One bit of good news- I've spoken to several people who collect what I do ( M-1 Garands, trains) and I notice that more than one guy has said- "I'm retired now, and I have the extra time and money to buy.."

I guess you can collect hundreds of, say, trains, but most of us only have one "collector"car. Cars should be an easier sell- you only do it once every, what, 5 or 10 years?

Mabe too many of us watch "Mecum/Russo/Barrett- Jackson" and think that's what the world is but I think those cars are the execption, not the rule.

Most of us only have one "collector"car

I will argue that most of us have more then 1 collector car. They seem to multiply like hangers in a closet.

I am not a flipper, I hang on to my cars for a while, sometimes too long, and I am down from 6 to only 3 now.

Most of us only have one "collector"car

I will argue that most of us have more then 1 collector car. They seem to multiply like hangers in a closet.

I am not a flipper, I hang on to my cars for a while, sometimes too long, and I am down from 6 to only 3 now.

I agree. I have 4 right now and most people I know have more that 1 as well. 2 of the 4 I have had for 20+ years so I am not a flipper either.

As far as trouble selling cars, I believe it mostly depends on what it is. If its not some highly desirable 60's-70's muscle or pony car, the market is much smaller, interest level is small and the prices reflect it. I can show up at some local cruise in with one of my Rivieras and they do not get anywhere near the attention a muscle car gets. (I'm not complaining, just my observation.)

I can show up at some local cruise in with one of my Rivieras and they do not get anywhere near the attention a muscle car gets.

I think those guys get brain washed by staring at so much billet aluminum. It must be hypnotic and not allow them to look at anything else. They just can't stand to be thought of as someone who might be able to think on their own.

Ed

I bet a turbocharged nailhead Riviera running 10s in full trim would get some attention, just saying.

I agree. I have 4 right now and most people I know have more that 1 as well. 2 of the 4 I have had for 20+ years so I am not a flipper either.

As far as trouble selling cars, I believe it mostly depends on what it is. If its not some highly desirable 60's-70's muscle or pony car, the market is much smaller, interest level is small and the prices reflect it. I can show up at some local cruise in with one of my Rivieras and they do not get anywhere near the attention a muscle car gets. (I'm not complaining, just my observation.)

My experience with my Riviera has been just the opposite so far. It seems to get a lot more attention at cruise nights and shows than my 69 GTO convertible

or 70 Chevelle SS396 hardtop that are 100 point restos. The Riviera has a crowd around it everywhere it goes, and more thumbs up out on the road than my musclecars.

I attribute this to the fact that you just don't see them anymore.