Guest btk Posted August 5, 2009 Share Posted August 5, 2009 to car collecting? Has the economy had any effect recently or over the years? Are prices down? Were prices higher when the economy was booming? I am trying to figure on a good time to buy. I'm sure people here will say there is no time like the present. But, circumstances now make it difficult. I don't know if finances will be better later. Not that I'm unemployed now or anything, I just bought a house fixin' to get married, have two daily drivers financed. Currently have storage issues as well. I was wondering if the economy comesback are prices going to jump significantly. I am looking at vehicles upto $15,000. Link to comment Share on other sites More sharing options...
Guest Robin Coleman Posted August 5, 2009 Share Posted August 5, 2009 BTK....IMHO there two factors you need to consider..#1, The dollar will very soon begin to devalue. The government (like the rest of us) simply can not continue to spend money it does not have without inflation setting in at some point. #2..This inflation will hurt all of us and some will be forced to sell their treasures and toys to survive. So my answer is simply that I have no answer. I do not think the economy has bottomed out just yet though...We simply can't continue to export our jobs overseas and have a vibrant economy. That said, if you find an antique auto you want and have the funds...buy it! The storage issues you have would concern me the most...There is little point in buying a restored auto and keeping it outside. The sun and weather will deteriorate it quickly. Link to comment Share on other sites More sharing options...
Dandy Dave Posted August 5, 2009 Share Posted August 5, 2009 Good and desirable stuff still brings good money. Not such good stuff is not as high because there is not as much "Dumb money around" as my ol man use to say. Over priced stuff goes hand in hand with "Dumb Money." Dandy Dave! Link to comment Share on other sites More sharing options...
keiser31 Posted August 5, 2009 Share Posted August 5, 2009 Yes, the economy has affected car prices. They are mostly down. The "lack of storage" issue is the BIGGEST deterrent to getting an old car. I have made that mistake and have actually lost a car or two due to no place to safely keep it indoors. I would say "wait" until you are set up to at least store the vehicle. If it is a "done" car, you may not need a place to work on it, but storing inside is imperative. Too many natural elements and thieves. Link to comment Share on other sites More sharing options...
LINC400 Posted August 5, 2009 Share Posted August 5, 2009 I would say that now is not any better than last year as far as looking for a collectible car. Sales prices for million dollar muscle cars have dropped. But for good cars in the $5000-$25,000 range, I don't think prices have dropped any. People have lost their jobs, can't afford storage, etc. So they are looking to sell their cars. So if they need money, they want the absolute maximum they can get for their car. Buyers on the other hand, are only looking to buy if they get a great deal. So what I am seeing is the same cars on Ebay or Craigslist over and over again, not coming down in price, and not selling. If you find a good deal on a car you really want, then buy it. But I would not be looking to buy something just because now is supposed to be the time to get deals. Link to comment Share on other sites More sharing options...
1937hd45 Posted August 6, 2009 Share Posted August 6, 2009 Hobby is over, buy parts and automobila, easy to store and sell as you need food and mortage money. Big plus is that they are nice to look at. Link to comment Share on other sites More sharing options...
Rusty_OToole Posted August 6, 2009 Share Posted August 6, 2009 The economy will get worse before it gets better. There will be no recovery or inflation until the bad debt gets liquidated and the slate wiped clean.This is not happening and will not happen as long as the government keeps propping up the big banks and papering over the crumbling economy.If you want the facts and figures read this web site. The Market Ticker Link to comment Share on other sites More sharing options...
old car fan Posted August 6, 2009 Share Posted August 6, 2009 There,s not a muscle car out there(worth a mil)in my book,thats stupid money,mt dad said that to. Link to comment Share on other sites More sharing options...
MarkV Posted August 6, 2009 Share Posted August 6, 2009 True, I would say that if you have a desireable and good classic, it has either increased or stayed the same. I was in shock when I looked up Mustangs, because I will be selling mine, and to my surprise their prices for ones in less good condition have gone up. Last year avg. price was 10 and now it is 12 or 13 for good 6cyls and decent 8's Link to comment Share on other sites More sharing options...
Guest btk Posted August 6, 2009 Share Posted August 6, 2009 Well, I will wait a few years. Take care of my storage problems. If everything holds I will be more financially ready for the undertaking, perhaps I can pay cash for all or most. Maybe prices will be down a bit. Until then if you hear of a good deal make sure you let me know first. Link to comment Share on other sites More sharing options...
poci1957 Posted August 6, 2009 Share Posted August 6, 2009 BTK, I would also say wait until you have good inside storage. Be it a restored car or a nice original it has to be garage-kept to preserve it from sun, heat, moisture, and pests. BTW the garage storage must be under control too, kids on bicycles and garden tools piled on the car are no good either. Good luck! Link to comment Share on other sites More sharing options...
Guest d_voitel Posted August 6, 2009 Share Posted August 6, 2009 ditto on the storage! I lost two '76 Vega's and an '86 Fiero GT because they were outside. It broke my hear to see the Vega's go to the crusher, (they rusted through the floor pan). I still have the Fiero and it's now inside, but needs a complete restoration. The only problem I curently have is with mice. Otherwise the garage is dry and under control. Good luck on your search.Duane Link to comment Share on other sites More sharing options...
boblichty Posted August 16, 2009 Share Posted August 16, 2009 Lots of good information here. I agree, looks like a devalued dollar this fall could get people to 1. invest in tangilble investments more like antique cars, and 2. could cause an upswing in out of country sales. Last spring was really hot for out of country sales but cooled off during the summer, but in the last 4 weeks I sold a 86 Cad Eldo to Italy and a 56 Eldo to Brazil. Also agreeing with some of the folks here. good cars are always good cars no matter the economy. i.e. a rare antique like say a Mercer Raceabout or a fine Classic like a Duesenberg will always be a limited number and maybe fluctuated a little but not near like the hyper-promoted cars like the winter auctions produce in huge numbers. Link to comment Share on other sites More sharing options...
Barry Wolk Posted August 16, 2009 Share Posted August 16, 2009 Inside locked storage is a must if you want low-cost collector's car insurance. I believe they all have that qualifier. Link to comment Share on other sites More sharing options...
Reatta Man Posted August 18, 2009 Share Posted August 18, 2009 Hopefully the flat or deflationary cycle will get some or most of the speculators out of the game. You know who they are; the ones who buy a car this month, only to push it to the next auction in 30-60 days, trying to pump up the price, but have done NOTHING to the car or for the hobby. Sort of like the people who speculated us into $4 gas and $5 diesel last year...The true lovers of the cars and the hobby, along with the serious investors, will always be in the game, even if they have to do it for a year or two with less zeros on the end of their checks. But, as long as the baby boomer generation is around listening to the Beach Boys, the Temptations or the Beatles in a mid-60s convertible with the top down on a warm Friday night, there will be a market for these cars. Granted, that baby boomer may have to be using industrial-strength glue to keep his toupe on now, but he will still be buying and selling cars!Joe Link to comment Share on other sites More sharing options...
Barry Wolk Posted August 18, 2009 Share Posted August 18, 2009 Granted, that baby boomer may have to be using industrial-strength glue to keep his toupe on nowJoeGreat visual. Link to comment Share on other sites More sharing options...
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