smithbrother

Auction sales DOWN, don't buy 911 yet

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The average of  the top auction houses ,sales are DOWN 15% compared to last year.  

 

AutoWeek has a full story on such TODAY.

 

Hinting that top buyers may have the pieces they want, at least for now.

 

Dale

 

P.S.  Over the past few days I have noticed, LOTS OF CARS NOT SELLING,  seems to me MORE than in the past. 

Edited by smithbrother (see edit history)

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OTOH there will probably never be a better time to buy something you want.

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A cynical person might say that that just proves that Vettes, Camaros, tribute cars and resto-mods are not selling. Says very little about the market for antique cars in general.

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A cynical person might say that that just proves that Vettes, Camaros, tribute cars and resto-mods are not selling. Says very little about the market for antique cars in general.

 

Agreed.

 

I do this for a living, I study this stuff like a stockbroker, and I think I'm pretty good at it. The only conclusion I've ever drawn from watching "the market" is that there are no conclusions to be drawn. Good cars always sell. Trash doesn't. Rich people are always going to be rich. The rest of us have to enjoy what we can, when we can.

 

My expert advice? Buy what you love and forget values. Don't wait for "the market" to tell you something about how to enjoy your life. Money is easy to get. Time is impossible. Make the most of what you have and let the future take care of itself.

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All you need is a Good Idea, Some Talent, and a Market Place. :D  I usually fall down trying to find a Market Place for where the Easy Money comes from.  ;) Dandy Dave! 

 

Matt, where can I get some of that easy money?  I have plenty of time but not enough money.

Edited by Dandy Dave (see edit history)

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"Good cars always sell. Trash doesn't."

 

That's the truth.  The issue is the definition of "trash" I guess.  It is wider than most people would expect.

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'Make the most of what you have and let the future take care if itself.'

 

Words to live by - old cars and otherwise!

 

Thanks Matt!

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Perhaps more people are bypassing the auction route to buy cars. There are certainly more places to find cars today than just auctions and those sales are not tracked by anyone that I know of. For sure many fine autos have been listed here on this site instead of going to an auction for disposal.

The stock market is going though another adjustment phase, maybe the auto auction market is doing the same.

Terry

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Could it be that we are just getting smarter and figuring out the auction companies are "laughing all the way to the bank". How many times have we all questioned why someone has paid well over what some cars are worth, just because they are on TV. When I was at Barrett Jackson, I witnessed  the "ring man" pumping bidders and before they realized it, they had spent several thousand more than they wanted.

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Anyone that will allow the auction house to PUMP them up so that they spent more than they wanted, can ONLY blame themselves.

 

How hard is it to set a limit that YOU will spend, (including fees), and don't go over such?

 

Dale in Indy

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In some states, what the "ring men" do would be considered assault.

 

Interest rates are at ridiculously low levels, fixed rate home mortgages can be had for 3% or less and anything under 5% is considered stagnation.

 

So this would be a time to borrow as much low rate money as you can & buy your dream car with it (in comparison in 1984 home mortgage rates exceeded 12.5%). Just do not get an "adjustable".

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I wouldn't say that auction sales are down. I think the quality of cars available has been lower and of less quaility. Speaking to several buyers of all types of cars, every one of them mentioned true first class iron with no stories and good provenance we're bringing all the money. That goes for brass, CCCA Classics, post war Itaillian GT cars, and American muscle. If anyone has any world class prewar cars available below market just give me a call, I will be happy to find a buyer for you. As mentioned above, investment grade cars are very few and far between. They are much less than one percent of the market. Certain sections of the market are hard to figure out......Porsche is one of them. While I never have and never will be in that market, it's been interesting to watch. Is it overheated by fifty percent? Or were they undervalued for the last twenty five years? Since they are beyond my frame of intrest, I enjoy sitting back and watching the market on them. I have my own opinion on them, but am curious as to what others who trade in them think. Ed.

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I like hearing those people who say "my hard earned money" when they talk. I'll bet you I have worked hard more days of my life than most young  people are years old!

Bernie

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AutoWeek reported this week that total auction sales for most houses are down.

The quality special cars seem to be doing well, I did notice what appears to me, more cars where the BIDDING GOES ON.

Seldom does a high end restored, or modified piece bring back the investment, we all have seen that.

I did note this past weekend more cars in the 20-30 range.

Dale in Indy

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For me it has been fun but started paying into Social Security fifty years ago. Agree 911s, particularly ones that were the equivalent of a Hellcat like the 930*, have people willing to pay silly money for them. For me the only one I'd be interested in would be the Boxster (better 914-6) but haven't run out of American (or at least American badged) cars yet..

 

 

 

*- most likely to encounter a solid object in the first half hour

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"Good cars always sell. Trash doesn't."

 

That's the truth.  The issue is the definition of "trash" I guess.  It is wider than most people would expect.

Trash can not be defined and is a useless word - Every persons definition differs. Might as well say your favorite color is plaidM wayne

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Hardly can be called a trend. Basically a bump in the road. Only a fool would invest or. not invest on this short term movement! panic buying and selling is for the faint at heart. Wayne

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How's about "Collectors pay silly money for concours cars they have not a clue how to drive while an enthusiast doesn't buy more cars than garage doors."

 

To a real enthusiast, no car is trash (well maybe a '60 F*rd), just a question of whether desirable or not.

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