Quote:
Originally Posted by JRN1967
Same as you, I often wonder how much longer this will continue? One of my older brothers is a Baby Boomer and he refers to his muscle cars as 401K's. I disagree, because I think there will be a void when Baby Boomers get a few more years older. Younger generations grew up driving foreign cars in their teen age years. They don't look at older cars the same way we do.
That's why I like my Model A driver. For under 10K I'm out there having fun, and if the bottom drops out of the market. I won't really care, because I own it cause I love it. Not because of some profit I might get out of it.
John
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Truer words never spoken. Only the people hawking high dollar cars to increase the sold price for their own commission speak as though these things are 'investments' for the future. If that was true why aren't they buying them up? No, 401K and collector cars can't be used in the same sentence I don't see it.
I think the market for cars is already going soft. The prices on some of this stuff is un-sustainable. Buy what you want, have fun, don't fret about resale value. You're going to die someday anyway after that they will shove your car out in the driveway and some auctioneer will send it on it's way. Somebody else is going to get it. The cars will always have SOME value and once that is turned into cash, that money will be long gone on something else.
I don't know the value of Vettes, but I was just at a friends house one day this week and he has a '64 convertible that is a show car. He is the second owner has the whole history of the car. Anyway he said to me 'See that Vette over there?' (He has a huge Morton building he keeps his cars in). I told him yes. He said 'Do you know what that car is worth today?' I told him I had no idea. He said $35K on a good day but I don't think I could even get that today. The value has dropped a LOT in the last several years.'
He knows that market a lot better than I do, I don't follow that part of the old car segment.