ligurian

'31 Chrysler Imperial for $55K

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1 hour ago, John_S_in_Penna said:

 

Does anyone have some sales examples to verify

that custom-bodied Packards are still doing well?

 Obviously not custom bodied but certainly a fine example of a ridiculously gorgeous Packard doing pretty well.  Fairly recent and expensive enough to give any ordinary man a nose bleed.

https://www.goodingco.com/vehicle/1930-packard-734-speedster-runabout-2/

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10 minutes ago, md murray said:

 Obviously not custom bodied but certainly a fine example of a ridiculously gorgeous Packard doing pretty well.  Fairly recent and expensive enough to give any ordinary man a nose bleed.

https://www.goodingco.com/vehicle/1930-packard-734-speedster-runabout-2/

 

I would have bought something more exotic for that money. Still happy I sold my 1928 Packard 443 Roadster and spent the money buying my 1912 Ford. Bob 

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6 hours ago, Matt Harwood said:

Not to go off on this tangent yet again, but there's a big correction happening right now, in front of our eyes. Current owners or their relatives, or, if you're lucky the next guy to own your car, they're all going to have to take considerably less than they think the car is worth to get it sold. The days of old cars gaining value every year are over and the mass-produced common cars that were popular with a huge swath of the Baby Boomers are going to get hit hardest (think 55-57 Chevys and T-Birds). Supply far outstrips demand in almost every category so prices are necessarily going to have to fall and they are falling, right in front of our eyes. In 2008, a really nice 1957 Bel Air convertible, black with a red interior and a Power Pack would be a $100,000 car. I just sold an extremely nice one for $62,000. -40% in about 10 years, and the bleeding has only just begun.

 

Whatever you do, DO NOT tell your kids that they'll be able to retire on what your old cars are worth. You're only dooming them to maintaining these anchors for life while they wait for a buyer who will never come. And stop saying, "Well, I paid $40,000 for it, but I spent another $15,000 on it, so I need to get $70,000 out of it." That's a pipe dream, too. You WILL lose money, so go ahead and start planning for it.

 

There's no money left in the hobby except at the very top, as AJ says. The rest of us are going to have to get back to simply enjoying it because we enjoy it and let the money we lose be the cost of the fun we're having.

With 2020 a few months away it looks like "Boom, Bust, Echo Theory" is coming true. Up here in the frozen tundra of South Western Ontario old cars are very soft.

Edited by Ed Luddy (see edit history)

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21 hours ago, alsancle said:

“Choice stuff” does not include production bodied Packards.  It is the 1/10 of 1 percent stuff that you see zero of at most shows.

 

Things are slow across the board for 99.9 percent of the cars.

I think the 36 Super Packard Phaeton that sold at Hershey went too low and I am guessing this was due to it being an original car with upgrades verses fully restored - which is a shame is I would rather have a car in this condition 100 times over a restored car - and basically have always been willing to pay more too.

 

The Standard 8 Phaeton that did not sell was sort of an anomaly like the non-supercharged Auburn Speedster that recently sold (when you hit certain price ranges you tend to want the best of the best example in the Marque verses ...). 

 

I disagree with the Millennial argument of Matt's - what I believe is that lots of cars soared up in value and it is difficult to find buyers for so many over 100K priced cars - regardless of peoples age or ...  Running a Concours d'Elegance, I will tell you that people love the early stuff, though the problem is they just plain cannot afford it or they can afford one "it" and get something more drive-able/usable.  I also I see noticeable numbers of younger people at Horseless Carriage Club events matched to younger people at Auburn Cord Duesenberg Events. And, in Europe younger people are commonplace with older cars. 

Edited by John_Mereness (see edit history)
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