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Old 05-22-2008, 05:12 AM
 
Location: Earth
4,214 posts, read 11,600,892 times
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Default Are the prices of classic/muscle cars coming down?

Since the price of gas keeps going up, do you think the price of classic and muscle cars will be coming down?

I still think many of them are overpriced, but my dad was watching Barrett-Jackson and said here recently, he's seen some sell for less on there than they have been selling for in the past.

Of course IMO anyone buying a B-J car is buying a piece of history, but what good is that piece of history when it's nothing but a garage ornament?
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Old 05-22-2008, 06:26 AM
 
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Depends upon where you are, I suppose. In the beginning of May, I attended a specialty car auction in hopes of selling my 1976 Thunderbird. The Collector Car Price Guide puts its value around $3,300 or so. The highest bid? THREE HUNDRED LOUSY BUCKS! (That is, I THINK that was the highest bid. I can't understand those auctioneers when they go "bladababababladbbabababathreegrandblablababababla blabawhodapaythreegrandbladablablabldblablablabla" or whatever the hell they're saying. Naturally, I didn't sell.

My car was the 39th car to go across the auction block and by that point, only four had sold... those that did sell went for at least 15-20% less than what the owners hoped to get. Not one owner walked off the auction block happy, whether his car sold or not. That could be because people in NW PA are generally cheap and they want to get something for nothing (probably because they don't have much more than nothing to offer in exchange for something)... or it could be that old cars aren't fetching the money they used to fetch. Who knows.
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Old 05-22-2008, 06:26 AM
 
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Yeah, noticed that too on B-J. But the markets been flooded and baby boomers aren't buying them anymore. And the only people who can afford those B-J cars are richy riches.
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Old 05-22-2008, 02:22 PM
 
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Good, the jerks have messed this hobby up. I had a 66 SS Chevelle that i sold, and now these folks are asking the same price for a POS! that I sold mine for. My was a 138 not a clone car.
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Old 05-22-2008, 02:31 PM
 
Location: AZ
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This whole second coming of the muscle car has officially killed the muscle car scene, IMO. They used to be kind of unique until hacks like Chip Foose and Boyd Coddington (God rest his soul) started transforming them into mainstream pieces of crap. Seriously, 20" chrome rims, boomin 15" subwoofers, sitting on airbags? Since when did this turn into a Lowrider show?

I hope the prices come down, so those who actually, you know, enjoy the cars and drive them rather than use them as stupid status symbols, can once again attain them at decent prices. The price some of these cars go for on auction blocks is LAUGHABLE. Ive seen stock 70 Camaros sell for over 100K. WTH is wrong with the tards that are buying them?!?!?!
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Old 05-22-2008, 02:34 PM
 
Location: Chicago
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People who have a couple hundred grand to drop on a restored muscle car don't give a whit about gas prices. And it's not like they're buying these things to commute back and forth to work every day.
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Old 05-22-2008, 02:50 PM
 
Location: The Big D
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Yes the prices are "soft" but not dropping drastically. We collect them as well and have been watching the market. Hubby is ready to buy anything he wants if the price is reasonable. He attended B-J in Scottsdale this year and there were some GREAT BUYS!!! They even tried to bid on some but lost out. He has been to several other closer to home auctions and more coming. Recently a local collector sold a HUGE part of his collection (over 100 cars) and they all sold. Some for some VERY good prices and some higher than expected. The Kruse auctions have reserves so some items there might not sell if reserve is not met.

As for those of us that do collect these and keep them as "garage queens". We are REQUIRED by our insurance AND the state by registering them as "antique" or "classic" to NOT drive them as "daily drivers". Beside, be glad some of these guys still do that otherwise you would never have the chance to get your hands on some as there would be more in junkyards due to just "too much wear and tear" and accidents. We DO enjoy these cars and LOVE to drive them and KNOW more about them than MOST people - many of these people do the work themselves. We get them out anytime we can and LOVE IT!!! Those cars that go for those "insane" amounts are LIMITED production models depending on their stock items and how many came w/ different features. The more ORIGINAL the car is (stock) the higher the price. A true matching numbers car w/ a limited production run can bring in the big bucks. Add in the original build sheet and other documentation and you got yourself a high priced automobile.

Nope, those that collect these cars don't really car about the price of gas when it comes to driving THESE CARS. On their "daily drivers" we ARE watching what we do.
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Old 05-22-2008, 03:55 PM
 
Location: The Big D
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Quote:
Originally Posted by Steve-o View Post
The price some of these cars go for on auction blocks is LAUGHABLE. Ive seen stock 70 Camaros sell for over 100K. WTH is wrong with the tards that are buying them?!?!?!

Those are NOT your average "stock" cars going across the stage fetching over $100K. There is WAY MORE to it than that. They are "stock" and probably pretty original and well taken care of. But their value that demands those higher prices comes from them being a limited number of THAT vehicle.
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Old 05-23-2008, 07:04 AM
 
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Yeah I agree - the price of gas is the last thing a muscle car owner thinks about. For one thing the people can afford the outragious prices of a classic muscle car don't need to worry about the price of gas, for another thing when they buy it they stick it in a garage and bring it out on a trailer only.

The few of us who do own street driven muscle cars, the hobbiest who tinker on the engines and rebuild the few affordable muscle cars left, and really drive them, also don't worry too much because, hey, it's a hobby. It's a release. We drive our cars not to get from point A to B, but for the pleasure of driving. Most of these type of cars aren't daily drivers, but weekend toys.
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Old 05-23-2008, 02:22 PM
 
Location: The Big D
14,874 posts, read 23,002,378 times
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Quote:
Originally Posted by Dd714 View Post
Yeah I agree - the price of gas is the last thing a muscle car owner thinks about. For one thing the people can afford the outragious prices of a classic muscle car don't need to worry about the price of gas, for another thing when they buy it they stick it in a garage and bring it out on a trailer only.

The few of us who do own street driven muscle cars, the hobbiest who tinker on the engines and rebuild the few affordable muscle cars left, and really drive them, also don't worry too much because, hey, it's a hobby. It's a release. We drive our cars not to get from point A to B, but for the pleasure of driving. Most of these type of cars aren't daily drivers, but weekend toys.

Yep, I'll get one of ours out (mostly the convertible) on pretty days to go pick up the kids at school. I'm not about to take it to the movies for it to get stolen. When I can drive it and STAY w/it or where I can see it is not a problem. You can do these kinds of "drives" when they are registered and insured as "classics" or "antique". If I did not have to go p/u some big stuff at the store I'd take it today to p/u the kids. My oldest daughter loves me getting her in that. Her is mom and lil sis and then her all riding along in this car so we get LOTS of looks. At her school the boys go nuts when they see it. She always gets hit up in the halls the next day by them wanting to know if that WAS her in THAT car. hehehehe. LOVE IT!
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