Packard stock prices

[1935Packard]

With the stock market being so badly battered, and the stock prices of car companies plummeting -- General Motors fell 20% today -- I thought I would point out the bright side for Packard:

PACKARD STOCK DIDN'T GO DOWN AT ALL!

There are benefits to being out of business for 50 years, I guess.

[Matt Harwood]

I think as tangible assets, Packards are only going to get more valuable in the coming months as investors pull out of "vaporware" and paper money and move to things like gold and steady assets like art, high-end cars, etc. Not that we look at our cars as investments, but the boom of the late '80s was fueled by something just like this. So for a while, at least, in my opinion prices will probably go up. But as we've seen, the market always corrects itself, so if you're going to cash out, you'd better know when the moment is right.

Or, if you're like me, you'll never cash out.

[Guest imported_Speedster]

I'll be Holdin' on to my Packard Stock, just as Long as it Takes. LOL

They're not really 'Gone for Ever', just 'Layin'-low until the time is right'.

[tbirdman]

I think the prices for the cars may reced. At Hershey yesterday, my conversation with vendors were that business was down this year at Hershey...though no shortages of $350K cars

[Guest imported_Speedster]

Was that really $350K cars, or people with an 'Impossibe Dream' of getting $350K for their cars ?

[tbirdman]

One was a 1917 Packard twin six which I thought was high and another was for a 1941 Packard 120 woody. I'm not up on these particular car pricing so you never no. I saw a 1930 Cadillac Coupe roadster for $60ish which I though was a good deal.

But you are right it's hard to tell if these are realistic prices though a guy in ou club with a 41 120 woody would be very happy if that one sold for $350K.

[West Peterson]

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: tbirdman</div><div class="ubbcode-body">I think the prices for the cars may reced. At Hershey yesterday, my conversation with vendors were that business was down this year at Hershey...though no shortages of $350K cars </div></div>

Are you referring to "cars for sale" vendors, or parts vendors. Almost every parts vendor I talked to said business was either the same as last year (a record year) or better. My conclusion was that the attendance was down from last year, but only by those who couldn't afford to be there in the first place, <span style="font-style: italic">ergo</span> they weren't the money spenders.

[tbirdman]

Well I didn't do a big survey but I talked to one Packard part vendor and one generic part vendor.

I did like the sign one vendor had "Pre-Obama prices"

[Guest imported_Speedster]

LOL

I Love It!