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Antique cars, this year and beyond, what will happen ?


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I do not worry about the value of antique cars, as a matter of fact, I have been wanting to add a '20's - 30's roadster for the past few years though I found them too expensive.  I believe we are going to get a hefty round of inflation and that will cure current low values, not this year but next year.  Governments around the world are running the printing presses as fast as they will go and dropping money from helicopters.  Buy something, anything cash has no value.

 

Stay well, Gary

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Larry, you stated that very well. Everyone owns the older vehicles for their own reasons. For me it is a combination of reasons ( excuses?) not in any special order: Driving or riding in one - you are indeed in a time warp and get a very different perspective about what you see , you also are in a piece of history that has survived scrap drives, all kinds of abuse, wear etc so have to admire how well it was built and still continues to function for what it was made for, the joy you get is shared by the people that view you driving past them - old cars are best viewed when in motion. If it weren't for our love of old cars most of us would never know each other! it is our common bond . After over 50 years in this "hobby" I am now meeting and making more friendships because of the forums - people I have never known before nor would have if it weren't for the contact that AACA has provided here. All those factors is what it is all about. If you have no car, or dozens , we are all benefiting from the common bond of our love and appreciation for older vehicles. They make us happy even if it is only to look at a period photograph, it puts us there in that picture . Stay well all .

Walt

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15 hours ago, padgett said:

1912: Please remember I came though the 80's when inflation in the US approached 20%. Retired in 2015 after paying into social security since 1966, exceeding the max in most years. Worked for elements of the same corporation in increasing higher positions for over 35 years. And contributed the max to my 401 k for all of that time. My "fixed income" is different from some, the IRS forces me to take money from my 401k but Medicare limits how much. I carry a certain amount of debt only as a hedge. Strange times.

 

Keep in mind that my only dependents are my cats and I keep a month's worth of Fancy Feast on hand. They probably eat better than I do. My personal expenditure are quite low.

 

That said it seems unlikely that inflation will be significant for the near future. For right now I can afford my hobby since expenses are quire low (part of living in the same house since 1984 and have all needed space at home) and pay cash for any additions. May buy one more car (have an open slot) but am very selective.

 

That said have worked for everything I have over a very long period of time. Other than free hearing aids nothing is tax free.

 

I suspect at least some here are in the same position. Is really a matter of priorities.

 

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Padgett, We have a lot in common. I live in Florida(Brevard county),lived in the same house since 84,retired in 2016,have one cat on fancy feast although she's pretty old and probably won't be around much longer. However I do have two kids(grown and on their own) a wife and a dog. My son has the old car bug but my wife and daughter not so much.He has a 66 Mustang,a 69 Ghia and bought his wife a 63 bug.I have a 35 Buick and a 74 MGB. Just trying to keep them maintained.Wouldn't mind trading the MG for a different old car. As you know it gets too hot to drive it in the summer. Greg. Stay healthy and what old cars do you have?

Edited by Buick35
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13 hours ago, gossp said:


My dad didn’t let us eat ice cream in any of the old cars. He has much nicer old cars now and he lets my kids eat ice cream in them all the time. @gossjh

I taught you to respect old cars, and you learned the joy of eating on a running board. I taught them that Grampa could be as much of a pushover as Gramma.

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2 hours ago, Buick35 said:

Padgett, We have a lot in common. I live in Florida(Brevard county),lived in the same house since 84,retired in 2016,have one cat on fancy feast although she's pretty old and probably won't be around much longer. However I do have two kids(grown and on their own) a wife and a dog. My son has the old car bug but my wife and daughter not so much.He has a 66 Mustang,a 69 Ghia and bought his wife a 63 bug.I have a 35 Buick and a 74 MGB. Just trying to keep them maintained.Wouldn't mind trading the MG for a different old car. As you know it gets too hot to drive it in the summer. Greg. Stay healthy and what old cars do you have?

 

Mostly a bunch of projects. A series of bad decisions. They were to be sold to help out with the trio of keepers but that is looking increasingly unrealistic.

 

The keepers are , 1912 Staver Chicago. Total basket case , I hoped to see it running in my life time but these days who knows ?

1960 MGA 1600. I have owned it since the late 1970's . Eight month a year driver for nearly 20 years { hides from salt the other 4 }. Runs and drives but it needs work to be back on the road. The last 60 years are catching up with it, never restored just kept driving.

1977 Lola T492. I like Sports Cars and Vintage Racing. Bought it last year for a very attractive price { as these things go }. My last attempt at getting back into racing before I am too old. But a bigger strain on the budget than I can handle without some added 

$ from a sell off. Which looks increasingly over optimistic these days. A simple to maintain race car that is fast enough to be interesting on a limited budget. 

I wanted one all my life and took a chance last year when one came up at a once in a lifetime price. Still it drained my hobby $ reserve for the foreseeable future.

 

Greg

 

Edited by 1912Staver (see edit history)
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1 hour ago, JAK said:

Zephyr, I have must confess a Pierce is the one car I've wanted to own since I was teenager. I haven't totally given up yet but the candle is dimming.

 

Pierce Arrows really are the bargain marque if you're looking to get into the 'true classic' arena.

For some reason they are priced much , much lower than the other big classics.

Heck, I've seen completely restored Ford Model As sell for as much as a decent Pierce Arrow.

But that isn't to say that Pierce Arrows aren't an amazingly engineered and manufactured car.

They truly are one of America's finest, if not the finest.

 

Join the Pierce Arrow Society and attend a PAS gathering.

The members would be more than happy to take you for a ride in their cars and even keep you apprised of any great cars that come up for sale.

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12 hours ago, keithb7 said:

I have way more time wrenching on one of my old junkers than I do driving it. It's early in the relationship. We are still getting to know each other...My understanding is my old sedans can't catch covid. When I do go drive them I am in isolation. We have fun. The money I spend brings me happiness. Especially when I am rewarded by being able to drive the old cars. I am rewarded when people wave, or give me a thumbs-up. Or how about the folks that yell at you to get your attention so they can show their appreciation for the old car? When I drive and hit the aoogah horn, kids and adults alike lite-up with grins. At times like these, I really don't care what happens to the value of my cars. I am happy to get back under them, make them a little better, and go out cruising again. 

 

Must be the type cars that I choose to own, that make me feel this way. They aren't anything special. They aren't real valuable or collectable. Must be why I guess I don't ponder their future value. My cars sure bring the smiles from both my face and others, when I pass by. I try to be smart about the money I put into them.  We'll go for ice cream in the Plymouth! My future is seen below here. How utterly boring for some, I know. But I'm having fun!

 

 

IMG_5915.jpg

 

 

Humphrey Bogart drives a Plymouth coupe in a few of his movies.  

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19 hours ago, zepher said:

 

You've obviously never owned a Pierce Arrow.  🤣🤣

 

But some things are better in a Pierce Arrow. 


Everything is better in a Pierce Arrow, and they are XXXXing fantastic in a Duesenberg! ✌️
 

I guess I have made and spent a fortune on antique cars. Way over seven figures. I have traveled the world, have friends in twenty different countries, lived to see and do things my parents and grandparents couldn’t have even imagined. My retirement will suffer dramatically for it. I will probably die working in a garage with a wrench in my hand...........working on a world class machine that still brings me pleasure five decades into my hobby.......which is now also my advocation. Never wasted a dime or misspent an afternoon. My friends I have made over the years we’re ten times more valuable to me than my college degrees. Just before I cash out of this great adventure, I will look back and honestly say it was a life well lived............full of everything I value.........family, friends, and cars. What more is there? Reality is life is very, very short. We are burying my brother-in-law‘s uncle tomorrow, from the virus. A good man gone too soon. Enjoy life while you can..........it’s running away from you at a frighteningly fast pace, and you will be gone before you know it. I’ll worry about all the small BS that life throws at me after I’m dead.........if your going to procrastinate, you might as well put it all off until it doesn’t matter anymore! Stay safe. Enjoy your family and friends, do good work and do it well. Best to all, Ed

Edited by edinmass (see edit history)
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I only have one old car. I have a sentimental attachment to it, and since I intend to keep it forever, the dollar value truly does not matter. Whatever it brings after I'm gone is just found money to my family.  As long as I manage to preserve even just the one old car for posterity, I will feel that I have done my part. And if I ever get to the point that I cannot continue doing that, I will sell it before I go, so that my family does not have to deal with it. A little more or a little less will make no difference at that point, either.

 

If I can ever afford a second hobby car, I have always wanted something much older. But it would have to be relatively modest, and it does not seem likely in the near future anyway. Maybe when the bottom completely drops out of the market, I'll be able to give a good home to one more car. But I'm not counting on it. 

 

 I have never done a full restoration, have never driven anything pre-war, and have never bought any car with the intention of making a profit on it, so my position may not be typical here. But I have done all that with my other hobby, vintage guitars. And I believe a parallel can be drawn. Just like with cars, there was a lot of speculation in this field, and price corrections have left many speculators holding the bag. But the "good stuff" tends to retain its value much better. Back in 1995, I bought an old Japanese guitar for $30, restored it, took it to a guitar show and sold it for $150. At the same show, I bought an older Gibson guitar for $250 (I was quite the wheeler-dealer as I tried to trade up to better gear than I could afford outright). The same Japanese guitar would be worth perhaps $300 today, but the Gibson, at least $1000. Both have gone up in value, both were selling for even more before the 2008 crash, but the price gap between the two has grown much wider. Once upon a time,  a higher-end collectible guitar was not that much more expensive than a low-end one. But today, the better stuff is worth multiples of the cheaper stuff, and would sell faster, too. The $1000 Gibson would sell within a week or two. There's always somebody who wants one if the price is right. The $300 Japanese guitar might take many months to sell until the right buyer comes along. If I wanted to sell it within two weeks like the Gibson, I would have to blow it out at the 1995 price - $150. There's always going to be somebody to take a Pierce-Arrow off your hands for a decent price. A four-door Pontiac, not so much, unless you turn your price back a few decades. 

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16 hours ago, Big Beat said:

I only have one old car. I have a sentimental attachment to it, and since I intend to keep it forever, the dollar value truly does not matter. Whatever it brings after I'm gone is just found money to my family.  As long as I manage to preserve even just the one old car for posterity, I will feel that I have done my part. And if I ever get to the point that I cannot continue doing that, I will sell it before I go, so that my family does not have to deal with it. A little more or a little less will make no difference at that point, either.

 

If I can ever afford a second hobby car, I have always wanted something much older. But it would have to be relatively modest, and it does not seem likely in the near future anyway. Maybe when the bottom completely drops out of the market, I'll be able to give a good home to one more car. But I'm not counting on it. 

 

 I have never done a full restoration, have never driven anything pre-war, and have never bought any car with the intention of making a profit on it, so my position may not be typical here. But I have done all that with my other hobby, vintage guitars. And I believe a parallel can be drawn. Just like with cars, there was a lot of speculation in this field, and price corrections have left many speculators holding the bag. But the "good stuff" tends to retain its value much better. Back in 1995, I bought an old Japanese guitar for $30, restored it, took it to a guitar show and sold it for $150. At the same show, I bought an older Gibson guitar for $250 (I was quite the wheeler-dealer as I tried to trade up to better gear than I could afford outright). The same Japanese guitar would be worth perhaps $300 today, but the Gibson, at least $1000. Both have gone up in value, both were selling for even more before the 2008 crash, but the price gap between the two has grown much wider. Once upon a time,  a higher-end collectible guitar was not that much more expensive than a low-end one. But today, the better stuff is worth multiples of the cheaper stuff, and would sell faster, too. The $1000 Gibson would sell within a week or two. There's always somebody who wants one if the price is right. The $300 Japanese guitar might take many months to sell until the right buyer comes along. If I wanted to sell it within two weeks like the Gibson, I would have to blow it out at the 1995 price - $150. There's always going to be somebody to take a Pierce-Arrow off your hands for a decent price. A four-door Pontiac, not so much, unless you turn your price back a few decades. 

 

 

I was very happy when I finally found a Gibson LP Studio for an affordable price. Not vintage , but a 1989 which is a decent year for the post vintage Gibson's. It took many months of watching ebad. I finally found a auction that had a seller with only 2 or 3 feedbacks and poor description / photo's . Took a chance, put in a low ball bid and I am very happy. I probably paid 1/2 or less of what was the going rate at the time {2015}. Even with the current market it is worth at least a couple hundred more than I paid, and I thoroughly enjoy it. Mostly play my 

" partscaster ";  91 Fender USA neck , aftermarket ash body , " noiseless " single coil PU's,  these days , but the LP comes out at least 3 or 4 times each month.

 

Greg

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The problem with the classic car market is that it undervalues the cars I have and overvalues the cars I want to buy.  Weird how it always works that way. 

 

Seriously, though, I hope everyone is safe and healthy during these crazy times.  Thanks for keeping the hobby alive.

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Moved enough crap to find the back wall of the garage a little while ago. On top of the counter were two boxes of Beanie Babies. New, got them when a lady moved to Florida years ago, market crashed on them the year before I got them. If you are having a bad day or need a good laugh Google Beanie Babies and look at the asking prices being asked by the clueless. 🙂Stay safe. Bob 

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On 4/17/2020 at 9:27 PM, Big Beat said:

.But I have done all that with my other hobby, vintage guitars.. 

 

I hear ya big beat! I bought a Roger McGuiin autographed Rickenbacker 12 string and i feel honored just to be able to touch the same instrument he touched. If someone gave me a choice between one of my cars or that guitar, I think the guitar will win. I still get a strange chill when I take it out of the case

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Spent a lot of time on another hobby: Hickok tube testers and Zenith Transoceanic Radios. Then I realized radios was a strange hobby for someone who is "hearing impaired" (deef as a post) so returned to computers and cars.

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Well, it's apparent there are a lot of real car guys here who simply enjoy their cars for what they are and the pleasure they provide us in life.  That's far better reading than the too-often seen "doom and gloom" conversations we sometimes see.  Hey-the sun is shining so I think we'll get the Model T out and have a one-car parade up and down our street today to provide a little fun and relief for our friends and neighbors.  Social and Distance are two words that really don't seem to go together naturally!

Terry

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Great day for a Sunday drive! Nice sunny day and lots of "collector" cars were out and about. Started with a Chattingham? Lotus 7 clone, then a real nice red MGB right hand Coupe. Next was a gutted NOVA on a rollback, somebody bought or sold or was working on. Nicely built '53 Ford pickup, more MGB's, another NOVA. A sea of bicyclists, and some real bikers. Passed on the parts I went to see, not a time to test the waters on parts I don't think I could flip. Off to do yard work then some more sheetrock removal. Bob 

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Was cleaning the garage, real mess, Had to move the Mg to get the corvette out . Dan and Annette took it out for a ride also had a picnic in the local park .May get one of mine out this week . Need to finish up the new trunk for the 32 chevy. get some pictures when its done . Didn't get any work done on the LaSalle this week ,to nice out side .Grass cutting planting the garden Spring is a coming  King32

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"Everything is still priced at pre pandemic levels, very few "no reserve" auctions listed. " but is anything selling ? That is the real questions.

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Today all the cars got some exercise!  Started with the GTO.  It was a big attraction at the gas station, and turned a lot of heads as I drove through the parking lot in our nearby shopping center to get to the gas pumps.  Two guys in a mini-cooper gave me the thumbs up and said "lay some rubber."  I did.

The MGTC got lots of waves through the neighborhood and I took rain-checks for some rides later, but star attraction was the Model T.  Drove it furthest, through a couple of neighborhoods.  Lots of people out working in the yard, kids playing, even some people tinkering with their cars in the drive-way.  Nearly all the garages were open and some of the stuff that caught my eye was simply amazing.  Saw a lot of older cars tucked away in corners, under blankets, or up on jack-stands with hoods, up, etc. 

 

A real interesting thing happened over at the gas station as I pulled in.  There were a couple of guys there with their street-rods, hoods open, just kicking tires.  Another guy pulled in to show them some parts he had just rescued from an early Ford pickup, probably late 40s.  I pulled up to the group after gassing up, and we literally had an impromptu car-show, with the mini-swap meet included.  We didn't talk about anything except the cars-where we got them, where we've had them, how much work we did on them, etc. etc. etc.  It was a load of fun-complete strangers, drawn together by things with wheels.  From 1914 to 1965.  People at the gas station or driving by stopped to look out their car windows, honk horns, cheer and give us a thumbs up.   It was a great day and made me feel pretty good about this hobby. 

There's a bright light shining!

Terry

Two Ts.jpg

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It has become clear to me that when you drive a fun old vintage car, with a smile on, the world really is full of happy people. Even during these unprecedented times that we are dealing with. Every were you turn, people are waving and smiling. Absolute complete strangers approach you to talk and ask questions about the old car that you're in. Your old car brightens their day. Their mind immediately seems to jump back to a simpler time. Most everyone looks at the old days as a better time than today. The old car takes them there instantly. After covid, I will still be found out cruising. Meeting new people. Talking about my old cars. Enlightening the masses that old vintage cars are great hobby, like no other. Spreading good, happy feelings.

Edited by keithb7 (see edit history)
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No, it was imported from England by one of our club members locally.  He had it restored and first showed it here in the late 70s.  We fell in love with it and eventually Susan had the chance to purchase it.  It's had some upgrades including the chrome wires, finned aluminum brake drums, and some performance improvements that are not readily visible.  It goes!   She's the "MG-Girl" around here and she'll quickly let everyone know they are hers!  I just get to keep them clean.  I usually am the navigator and sometimes I pretend like I'm driving, then suddenly throw my hands up in the air or pretend like I'm sleeping.  Freaks out others who don't notice where the steering wheel is.  Fun car.

Terry

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  • 3 months later...

Only thing fer sure is that every year more cars will become antiques. (1990 in Florida now).

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