TAKerry Posted August 2 Share Posted August 2 Im not sure if demand is low or prices are too high. Most people (myself included) have an inflated sense of value towards their own posessions. 1. They know how much was spent on a restoration, 2. They see overly high bidding on tv auctions, some justified most not. 3. Not as much disposable income? All this adds to exactly what Hagerty is saying, values are dropping. Take any car that has been for sale for 6 months and lower the price by 25%-40% and I would be willing to bet it will sell reasonably quick. Asking prices are just too high for what the market will bear. I can just about guarantee if old car prices were to drop 60% or more there would be a whole lot of a new generation of old car owners. Link to comment Share on other sites More sharing options...
Brass is Best Posted August 2 Share Posted August 2 Cars are art, not stocks. No matter how hard people try to make them into stocks. 3 Link to comment Share on other sites More sharing options...
60FlatTop Posted August 2 Share Posted August 2 Old cars have been my hobby throughout my life. Since I was 22 years old I have always had at least one hobby car licensed in addition to my driver, many times insanely more. If I took the actual hours worked for cash to buy the cars plus the dollar value of the "swear equity" I added the total value as a ratio to my income has pretty much stayed the same. If I valued my sweat equity at shop rates Hagerty and I would probably agree. Link to comment Share on other sites More sharing options...
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