Why are these desirable collector cars cooling down?
- Thread starter sauterd
- Start date
Carmine
Old Man with a Hat
Summary:
The lesson is that younger car buyers aren’t “taking up the mantle” on the older cars as Newton put it, but instead are going after more affordable cars, and especially trucks and SUVs, which once again filled the rankings in the top spots. Also, there are simply more buyers for a $15,000 collector car than there are for a $30,000 collector car, causing prices to rise more where there’s more demand.
Agreed.
The lesson is that younger car buyers aren’t “taking up the mantle” on the older cars as Newton put it, but instead are going after more affordable cars, and especially trucks and SUVs, which once again filled the rankings in the top spots. Also, there are simply more buyers for a $15,000 collector car than there are for a $30,000 collector car, causing prices to rise more where there’s more demand.
Agreed.
mr. fix it
Old Man with a Hat
I’ve noticed that Hagerty is not always a good indicator of values up or down
The writers tend to miss the mark most times
The writers tend to miss the mark most times
polara71
Old Man with a Hat
Out the window with price guides
Beep Beep Dave
Senior Member
Since the guy specifically calls out the Challenger I will have one of those cheap T/As or maybe a 440 Six Pack or a Hemi....heck sign me up for a original Hemi Convertible Challenger nobody wants those anymore.
Dave
Dave
The Goose
Senior Member
LOL !!! I’ve been trying to buy a conv ebody since 81 or 2 when Bob Blake told me his 71 hemicuda was worth -gasp !!! Twenty Grand !!! High school me figured shoot I’ll never be able to afford one on those....
LeBaron1973
Old Man with a Hat
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Now the Blake cars are worth a million or more each, lovely cars for the very financially successful.
The Blake's were fortunate to have the cash to collect these cars when relatively cheap, well done to them.
The Blake's were fortunate to have the cash to collect these cars when relatively cheap, well done to them.
The Goose
Senior Member
They had a machine shop in the ghetto and people brought him stuff like a pawn shop. The smart thing he did was to buy but never sell. I think he has (had) 30 - 50% of all the conv hemi ebodies.
People don’t realize he collected everything Studes Buick stage cars anything cool and fast. He had this crazy car he called the Fuesenberg. It was a 32 Ford with a Deusy 12 or 16 in it. That thing was longer than a 72 Imp.
People don’t realize he collected everything Studes Buick stage cars anything cool and fast. He had this crazy car he called the Fuesenberg. It was a 32 Ford with a Deusy 12 or 16 in it. That thing was longer than a 72 Imp.
I looked at that the linked article but couldn't tell much from it. But, here's something I heard back when the musclecar craze first started in the '80s. Back when "garage finds" regularly happened with the first or second owners.
The people with money are looking for place to put it to make them more money, with little effort. When banks aren't paying much on CDs, then there's real estate. When real estate is bust, there's something else. "Money" moves around to the best place. In cycles!
In the earlier '80s, when the economy was slower, the new "vehicle of choice" as investments came to include factory muscle cars. When they were newer, still in decent shape, didn't need much to restore/clean up, and such. There were people who'd drive around looking for these cars or wait for them to be in the newspapers for sale. Usually the original owner! High octane gas was becoming a thing of the past. As were good new parts, if needed. Everything usually would have to be sourced from salvage yards should body damage occur. Too many things to deal with! So sell the car. The "knowledgeable" buyer would get the car for a decent price. Clean it up. Take it to the next car auction (in a time well before B-J or Mecum were well-known). Sell it for a profit and go on to another car.
But the key thing is the investment angle. You KNOW they should appreciate, so any money invested in getting them "better" can be re-couped and increased. CD rates go down, car values go up, car values plateau as CD rates increased, cycle repeat.
In the current era market, many of us who grew up with those cars are now having some other considerations of ever owning one. We knew what they were when new and what they should be now. Younger generations didn't have that honor, so what they like can vary from what we liked.
And those who bought B-body HEMI parts when they were being "given away to get rid of them", who could afford to archive them for several decades, they did well when they decided to sell them. But they had a focus on what cars they had and the parts they managed to acquire to support them. Again, this was in an era when we NEVER ever suspected that Chrysler would ever build a Crate HEMI motor, much less a 4bbl intake that could make as much power as the 2x4 factory intake might! 200horsepower fwd cars were "the future", it seemed. And it was for a while.
The thing that has happened is that the baby-boomers have/are retired and have disposable income to invest in the cars they had in high school. Or wanted in high school. Which can be a good investment to have some fun with, now. Only thing is finding somebody that knows how to fix/tune it for them!
Just some thoughts,
CBODY67
The people with money are looking for place to put it to make them more money, with little effort. When banks aren't paying much on CDs, then there's real estate. When real estate is bust, there's something else. "Money" moves around to the best place. In cycles!
In the earlier '80s, when the economy was slower, the new "vehicle of choice" as investments came to include factory muscle cars. When they were newer, still in decent shape, didn't need much to restore/clean up, and such. There were people who'd drive around looking for these cars or wait for them to be in the newspapers for sale. Usually the original owner! High octane gas was becoming a thing of the past. As were good new parts, if needed. Everything usually would have to be sourced from salvage yards should body damage occur. Too many things to deal with! So sell the car. The "knowledgeable" buyer would get the car for a decent price. Clean it up. Take it to the next car auction (in a time well before B-J or Mecum were well-known). Sell it for a profit and go on to another car.
But the key thing is the investment angle. You KNOW they should appreciate, so any money invested in getting them "better" can be re-couped and increased. CD rates go down, car values go up, car values plateau as CD rates increased, cycle repeat.
In the current era market, many of us who grew up with those cars are now having some other considerations of ever owning one. We knew what they were when new and what they should be now. Younger generations didn't have that honor, so what they like can vary from what we liked.
And those who bought B-body HEMI parts when they were being "given away to get rid of them", who could afford to archive them for several decades, they did well when they decided to sell them. But they had a focus on what cars they had and the parts they managed to acquire to support them. Again, this was in an era when we NEVER ever suspected that Chrysler would ever build a Crate HEMI motor, much less a 4bbl intake that could make as much power as the 2x4 factory intake might! 200horsepower fwd cars were "the future", it seemed. And it was for a while.
The thing that has happened is that the baby-boomers have/are retired and have disposable income to invest in the cars they had in high school. Or wanted in high school. Which can be a good investment to have some fun with, now. Only thing is finding somebody that knows how to fix/tune it for them!
Just some thoughts,
CBODY67
The Goose
Senior Member
You are sooooo right about hemi parts. Most of the road warriors were sporting 440 or 383s back then because drag racers needed the hemi heads. Boy Ma screwed everyone on hemi cyl heads back then. I remember we’d take junk to northwest motor welding, drop off a set and just say call me when The money’s used up. They’d chase cracks as far as you could afford. Usually to no avail. That Hemi crate motor sure changed the world.
One thing I got to say is the kids won’t care if we keep saying don’t touch. Man you’ve never seen a 12 year old smile until they turn over a motor that sounds like a coffee can full of rocks. Let em sit in your car at a show or give em a ride around the grass field. It’s up to us to get em involved and interested.
Mike66Chryslers
Senior Member
Note that the article doesn't say that these cars are actually declining in value, just that they are not appreciating at the same rate as other collector cars that Hagerty tracks on their index.
I'm hoping for the market for 50's cars to die-off right about the time when I get the itch to buy another old car. Sure some will always retain their value to collectors, such as Chrysler 300's, but I'd be happy with a 1956 DeSoto Fireflite or 1961 Newport 4-door hardtop.
I'm hoping for the market for 50's cars to die-off right about the time when I get the itch to buy another old car. Sure some will always retain their value to collectors, such as Chrysler 300's, but I'd be happy with a 1956 DeSoto Fireflite or 1961 Newport 4-door hardtop.
Mike66Chryslers
Senior Member
My son who just turned 11 has mostly lost interest in going to car shows with me and helping with anything.
He just wants to sit and read books (which is good at least) and interact with things that have screens. If I need a helper to work on something, it's very frustrating trying to get him off his butt, and he'll disappear again when I'm not looking.One thing that worries me concerns collector car insurance. You're supposed to only let people with 5 years experience drive your cars, which means 21 years old at minimum. I think I read that in the US Hagerty changed that to allow less experienced drivers as long as you're in the car with them? In Canada they haven't made that exception. Assuming my kids are interested in my old cars and are good drivers, they're not going to remain interested if they can work on them but I can't let them drive one under any circumstances until they're 21.
The Goose
Senior Member
Forget collector car insurance. Buy a stated value policy from a giant like State Farm. No restrictions and you set the value. The way they look at it is kinda funny. Your precious 20 30 or 40k collector car isn’t even close to the cost of a run of the mill new full size truck. Try to drive a day hour minutes and not see one. They also know you baby it and usually don’t drive it. No real risk to them and a stated value policy isn’t any more expensive than a standard full coverage. My 69 is $12k in coverage for $140 every 6 mos in SoCal car killing capital of the world. And it’s my daily driver and they know that. Look into it guys one of the best kept secrets in owning a classic.My son who just turned 11 has mostly lost interest in going to car shows with me and helping with anything.
One thing that worries me concerns collector car insurance. You're supposed to only let people with 5 years experience drive your cars, which means 21 years old at minimum. I think I read that in the US Hagerty changed that to allow less experienced drivers as long as you're in the car with them? In Canada they haven't made that exception. Assuming my kids are interested in my old cars and are good drivers, they're not going to remain interested if they can work on them but I can't let them drive one under any circumstances until they're 21.
Mike66Chryslers
Senior Member
My wife and I each have our own daily driver vehicles. If there is a third licensed driver in the house and a third insured vehicle, a regular insurance company will make him/her be listed as the primary driver on that vehicle's policy. They look at how many of the household vehicles could potentially be on the road simultaneously. As a new driver that would be very expensive. My dad had regular insurance on his project car and had this problem when I turned 16. Parents were dealing with Co-operators Insurance and I presume other regular insurers in Ontario would look at it the same.
DAAAAVE. You been sampling the now legal Left handed cigarettes up there already? Challenger drop top 426, SHISH
Jon O.
Well-Known Member
Slightly different, but I always found it funny that a car dealership owns Kelly Blue Book. That should tell you something.
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