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Bingo. All these old classics, once their owners start dying off, will be inherited by their children... And a lot of them will turn around and sell them immediately, and depress the market.
My uncle, for example, has a 60's Jag E-type. He has no children, and no longer married. It's his baby. He's talked about giving the car to me, and even though I like the car, have driven it several times... I would look at selling it soon after I got it. I have no emotional ties to the car, and they are extremely expensive to maintain. I'd give someone a good deal on it, probably sell it for a bit under market value, and just try to make sure it went to someone who would appreciate the car and care for it like my uncle did.
May he live a very good, long life. God forbid if and when the time comes, please contact me.
agreed. I'm 51 and love the cobra replicars and while I can appreciate an old camaro/mustang, I don't see the point in owning and driving one for the very same reasons others covet them.
Where has the market gone for model T cars? I'd say that most of the interest has died for them and only the collectors would buy one these days and not an enthusiast trying to relive their youth.
Demand will drop like a rock followed very quickly by the prices at auction.
My son has a 14 year old friend who is restoring a mid 60s el camino very very slowly and he remains a muscle car fan.
I much prefer resto-mods for the updated technology.
Most of the Model Ts I've seen out there are restored and driven to shows. They are more difficult to learn how to operate, which turns some people off. Anyone trying to relive their youth buying a Model T is most likely in their late 70's - 80's - 90's. Last one off rolled off the assembly line in May 1927.
It's interesting. I just listened to a podcast panel discussion that included a senior exec from GM. GM believes that private car ownership is going to decline significantly over time in urban areas, which is where almost all of their customers live. Instead, they believe, car sharing and taxi services, combined with autonomous vehicles, will become the new norm. The guy threw out time spans of 5-20 years. GM research believes that most people in urban areas want a car for its utility, not for ownership. Companies like Uber and Lyft, as well as the many car sharing services, will be the way of the future. In fact, they designed the new Bolt exactly for these kind of services and expect they will be the primary buyers. More and more of their cars will be designed with the specific features required for services as time goes on.
This trend is beginning to play out in teenagers getting their license. 10 years ago, 87% of 16 year olds got their license. Last year it was 67%. Even fewer actually want a license but seem to be pressured by their parents to pull taxi duty. I would bet if gas prices go up this will decline further.
Car sharing and driver services also allow for much higher spec, more expensive cars to be purchased which increases the profit margin per car. For instance, electric and plug-in electric cars.
Times, they are a changing, which will impact things like the classic car market as fewer young people become enamored by the thrill of owning a car.
That's all well and good for urban areas, but what about the suburbs or rural areas? Growing up, we lived in NYC. My folks had 1 car. We moved to the suburbs. They bought a 2nd car because unlike NYC, the services we needed were not walkable. Then there was a 3rd car (mine) and my license at 17 (can't get one at 16 here) followed by my sister's car.
35 years later and I have two children. The oldest has a Jeep and he isn't trikking it out and is involved with car groups. My youngest has her learners permit and also wants a Jeep. Most of the kids from their HS all have cars -- SUVs, trucks, and Jeeps are most popular.
While people moving to urban areas might shed a car or two, I don't see them divesting themselves of their cars. I can see people who were raised in urban areas not feeling the need for car ownership as they've been raised in a walkable environment with different needs.
You need space to have a classic car collection. And since homes are getting smaller and more expensive it won't be a practical hobby except for a select, well off few.
And you only need 1 garage bay for a classic car. What's your point? We started out with 1 bay and no classic car. And unless someone is shrinking existing home stock, most homes are the same size they started out as. If anything, new homes in my area are getting larger and have excellent garage space.
I've seen similar expressions before and I just have to ask. What is this even supposed to mean?
For someone who needs to transport more than two children and the stuff that goes along with them, or pretty much any combination of people and a lot of cargo, a minivan is the most practical vehicle.
Soul crushing: boring, demeaning, disheartening. Not meant as an insult to minivan owners, it's how I would feel if I had no choice but to drive one.
I have two children, 4 dogs (had 5, but my old man dog passed away in January). When the kids were younger the the Tahoe was new, I fit everything I needed in the back, and up in the 2100 cu ft car top carrier. The 4WD is necessary in winter for both my homes.
When I need to move more stuff than that can handle I have a quad cab long bed F350 dually.
I previously asked why a millennial like me with the budget would get a 1971 Dodge Charger instead of a 2016 Dodge Challenger SRT and I will concede the points about "real metal", and that newer Dodge/Chrysler vehicles come with too many communist baby sitting features and a locked ECU/PCM (electronic control unit/powertrain control module) that needs to be unlocked or replaced by a third party to remove them or make a custom tune.
I'm talking about things mandated by the feds to reduce stock performance in favor of fuel economy, such as deactivating 4 cylinders in an automatic when the computer doesn't think it is required. These things can be overridden with a custom tune, but it is a hassle.
The newer muscle and pony cars come criminally quiet stock!
Heck, I would love to buy the '71 Charger. Only problem is the one I like is out of my price range. I'd have to suck it up and buy a 2016 Challenger as a hobby car.
Car collecting is all about nostalgia, of course Millenials arent into the 50's/60's models, we werent alive! Are you all excited about getting a Model T? Nope. Now in about 30 years or so those 80s and 90s models will be collectible and sought out with fondness just like gen x has towards these.
Anybody with some forsight would be wise to get a bunch of these beater 90s cars for 500 bucks and lock them away until 2030.
Most people that buy a classic, antique, car from their youth or even older, are not looking for a daily driver. I want one or two to stick in the garage and have fun with. I want a car that I can use on the weekends and have some fun tinkering with. I want a car that I can work on everything on and listen to how it is running to get the exact sound I want.
You will always have a high price for the cars because of supply and demand. The real fun is in finding something and restoring it. Have some fun putting it together, learn about that car, bring it back to life. Drive it for a while and then when the car is done with you, send it on down the line to someone else that will love it. To me that is the true meaning of what the hobby is all about.
As a 20-something, I just see them as big, bloated cars that have poor fuel efficiency. I can appreciate looking at one but have zero interest in ever owning or driving one.
And the heart and soul of a nation is lost, without a single shot being fired.
I never liked big cars, especially older big American cars.
If anything from that time, I'd look at an MG sprite, Austin Healy, Triumph, etc...
It's hard to say what will become classic cars in the future, but I'd put my money on the popular enthusiast cars of the eras, like WRXs, EVOs and the S2000, which will no doubt be worth a lot of money in the future.
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