Old car values soft??? I'm not seeing it!

[keiser31]

Well, at least the market for Chrysler products from the '30s isn't soft. This all original (ok...except for the seat material) 1934 Chrysler 6 cylinder coupe just sold for $35,101.00!

[auburnseeker]

Hey for 35,000 I would have expected to get the front bumper as well. Although when you figure a Ford the same year gets that much or more and this car cost twice what a Ford cost new and I'll guarantee is a bit rarer. Still more than I would have ponied up for it. Oh well the quest continues. Still seeing mostly overinflated prices on cars that don't live up to the condition they should be in.

There is a 47 pontiac Convertible on Craigslist. The guy is asking 24,000 for it, I see rust holes in the trunk corners from the outside. What appears to be mostly original but far from resurrecting paint and very tired chrome everywhere. Pitted faded, you get the picture. It does have a top and he states much mechanical work has been done. No particulars on that other than I didn"t notice any kind of fresh paintwork on the engine but possibly a new or rebuilt carb and tuneup. Possibly radiator work as well. The Steering wheel and most plastic looks like it spent years in the Arizona Desert. He said make him an offer. I'm thinking 16,000 may even be high. I still haven't heard of the condition of the floors. There is enough Corrosion on the dash chrome to make me believe it's had a damp interior more than once. Do you really think the guy is going to drop his price 8000? It's a Number 4 at best right now. It's no longer in what I would call survivor condition. It survived just enough to be restored someday. Don't go to the price guides that puts it at about 7,000. I could go on and On. This is just todays latest find.

[poci1957]

Well, as you well know a price is not reality until money changes hands, and owners overpricing a rough car is hardly a new development. I looked at the ad and even the dubious claim that the car has been "totally redone mechanically" does not make it worth that much.

I have found over the years that most reasonable deals I see seem to be in club publications such as our own AACA magazine. Dealers will always overcharge to have some negotiating room and private owners either set a fantasy price like this or just throw out a high number in hopes of finding a sucker or just not accidentally pricing too low. Club members may not be giving a car away but they often seem reasonable, maybe because they think they can be more fair with a knowledgeable club member. Just a thought, others can chime in.

But on this Pontiac your calculation of 2/3 of the fantasy price seems still not necessarily a good deal IMO. Todd

[scott12180]

>>The cars are not selling, but no one is lowering prices. They just keep getting relisted with no takers. I don't see any point in asking if they would lake lower offers. If they are expecting $25,000 for a $12,000 car, they are not going to suddenly wise up when a reasonable offer is presented.

I've noticed that a lot of cars aren't selling, too. Yes, I would think that in this market people would me more amendable to lower prices but they don't seem to be.

I think a great many cars you see advertised in almost any venue "aren't really for sale". Or rather, are for sale if their price can be met and if it's not, the owner really doesn't

care. If someone wants my Packard for $90,000, YES it's for sale. But if I can't get that much, I'm perfectly content to keep it.

There are a great number of dealers out there these days. It's almost like mutual funds --- there seem to be more mutual funds than individual stocks ! And if you are a dealer, you aren't going to sell at a loss (if you bought when the market was high) and you probably have storage and aren't in a hurry. So you keep advertising and wait for the right Arab Oil Sheik to come along with a suitcase full of cash. I see some cars at the big dealers for years. They just refuse to sell at a loss, or even at cost. And if storage isn't a problem, and money isn't a problem they see no need to let it go. They figure the value will probably come back eventually. . . . . Maybe.

And as mentioned, I think a lot of people are still of the mindset when prices were skyrocketing a few years ago. Even if you paid $5,000 for your car in 1990 and think it's value five years ago was $30,000, it's hard to let it go for even $20,000 today. Especially if you don't need to money.

And, too, it depends on what you want. Cars from the 1920's are pretty much dead. Open cars are reasonably desirable, but a 1923 Sedan? I don't think so. Etc. Etc.

Anyway, you buy because you want the car. If you buy for investment you might as well buy stocks. Stocks are a lot easier to sell when the time comes, but you don't have as much fun with them.

[MarkV]

newer classics, those being from the 1970's and later are slowing down and becoming more and more difficult to sell as time goes on. The 1920's cars are dead because those who desired them are as well, my grandfather loved the 1920's -1940's but, now, people are less inclined to buy those because of the lack of memory, those who were in their 50-60's in the 1970's were buying those cars like mad, now, those in their 50's and 60's were born during the baby boom and grew up with the 50's and 60's, and those are the cars selling