Who are these "enthusiasts"? No matter price dip, the numbers will still be high and be treated as investment. Unless you are a billionaire, it's still expensive to own and use these.
😂Nothing better than listening to two Salesmen mumble through why the crap their selling is not worth what it never should have been worth in the first place.Priceless........lovin it.
I tell people a the time that all cars are junk. Every single one, lol. I'm sure that's an exaggeration and there are a couple good cars out there, but the rest are pure heaps of trash.
@@cruisinspecialtiesllc6104 I disagree to an extent. If you think of a car only as a tool to get you (plus X) from A to B, to do what you need to do. Then you end up looking at everything so different. And undesirable cars become very interesting. But the cars these guys are talking about are often for pure peacocking or fun.
@@cruisinspecialtiesllc6104 It's not an exaggeration. It's just a very stupid and uneducated comment. If you can't see the beauty and value in certain cars, then you have a real problem friend. It doesn't even matter how well they are put together. It's how they sound and look and how cool you feel driving them that matters. Pretty much everyone understands that except you.
All collecting follows a bell curve. Buyers age and a new generation has different tastes, less space to store things, less people to work on cars, less competition for desirable machines, less buyers as they age and sell.
The prices of cars will fluctuate as each generation gets more buying power and the coolest cars they idolized will begin to rise in price and the old cars that have way less nostalgia start to go by the wayside.
All collecting does not "follow a bell curve" otherwise Da Vinci's would be worth bugger all and nobody would remember who Giotto was. Your claim is so wrong its laughable.
The 80's and 90's are a sweet spot as the electronics are fairly simple. Exotic cars 2000 and up we are now dealing with ECM modules and software issues that are turning these cars into bricks. Aston Martin and Jaguar owners are having a big problem with this and to a lesser extent Lamborghini and Ferrari . Also getting the electric sorted with minor problems can put a car out of commission for 6-8 months as friends that have 430 Ferrari's and Lamborghini Murciolagos have been dealing with. Cars from the 80-'s and back have now lost their functional utility in modern traffic due to safety issues. Driving an 73 Alfa GTV 2000 is not as much fun these days in a sea of new Ford F150 pickup trucks .
The elephant in the room is the fact that the rally in car prices happened when interest rates were close to zero, and/or when other assets dropped (in 2009, buyers were even saying “my money is safer than in a bank and at least I can see it”). Now the car owes you 5% a year at least, plus storage, maintenance and insurance. So for $1m, this is at least 60k per year. So will a $1m 300 SL will be worth $1.12m in 2 years from now to only break even? There is an alternative now…
Very true. We mapped the rise in classic car prices in conjunction with the Fed pumping money into the economy (Quantitative Easing) and the rise in cheap money matched the rise in classic car prices almost exactly. The two must be related.
Honestly, the bigger issue here is the auction houses forcing sellers to go no reserve. You can still command a fair price if you have patience and are willing to manage the process yourself, or between you and a broker. Values were absolutely inflated but the results seen here are a combination of a market reset AND the fact that sellers are being forced to jump without a parachute.
Let’s all cry a big fat tear for the multimillion/billionaires who are losing a tiny bit of their massive wealth. Jesus fucking Christ ridiculous. Couldn’t happen to a better class of people.
Thanks gents! Seems to me that people want cars they can actually drive. Probably tires are the main problem for older models. And reliability, therefore mechanics too. What do you think?
@@trevorlees1241very true. I am 50 and I inherited a 1960 Alfa but never really drove it as I never felt safe in it. Sold it at the top of the market as people my age and younger do not have much interest in these cars. Notably the 80s and 90s cars are making a big push now.
Most actual hobbyists work on their own cars, investors have others do the work. Tires are not a problem Coker Classic Tires has nearly anything. A/C can be retrofitted to nearly any classic. My 70 Chevelle SS454 convertible, and 1957 Studebaker Golden Hawk included.
A simpler explanation is that prices have peaked and are now correcting. Prices will dip and plateau before they move again. It’s just the nature of the beast. I’m 65 and have been collecting for a while but with some vigour in the last 10 years. My tastes are also evolving and I’m assessing my collection. But I’m still in the market and I’m keeping an eye out for a Porsche 993 S. prices are weird. But since I want the car, I’ll buy when I find the right car and at a price I can afford. It won’t matter which way the market moves after I get the car I want.
Many - many moons ago I was aware of an Investment Fund which exclusively invested in Classic Cars. On close analysis it became evident that the total spread between the buying and selling price was around 12%. I have never viewed Classic Cars as an Investment regardless of the BS which has been put out by various Auction houses. I cannot help but think that many like me in our 60s / 70s have just got fed up with buying items we just don’t really need AND want to unload items we already do have.
I'm 66 and I'm looking to de-clutter not own more assets. I think many Reach a stage in life where they want to downsize and simplify things, presumably this affects Car collectors too.
Good point about boomers (I’m one), downsizing and not using cars that are hard to get in and out of. I now just have two - one from 1956 and one from 2006, and I use them. Used to have seven classics but no longer see the point if I’m not using them.
You're spot on with dream cars from our teenage years. I'm 67 and love the old B body Mopars and other muscle cars right along with MGs and Triumphs as I drove sports cars from the start. My 28 year old son could care less about any of those and has way too much money in a modified S2000 and is ready to pay $50k for an FD Mazda RX7. You mentioned Japanese cars and just watch the Fast and Furious movies and those coming into money saw the first one as a pre-teen and now can buy one. A 300 SL? Old guy car. Who's gonna drift one of those. So yes, look at who the market is going to be in the coming years. It ain't pre-war stuff or 50's anymore. It's certainly original Skylines and Silvias.
Great data and analysis. It would be awesome to have a column in that chart for previous year or years. For example, Gullwings are sold at Pebble every year, Daytonas, etc. And red or green if they sold for the estimate of that year (without having to put all the same data for every year).
I also think the Pandemic taught people that going out, going on vacation, weekends away, visiting family etc are far more important than owning "things". That may also be a factor.
This video isn't about cars - it's only concerned about money, and being only concerned about money among this crowd is commonly known as "greed". They won't talk about it because they're embarrassed at having been duped.
Very, very true, same as the watch market, most of the more expensive stuff is completely dead, and then the greed of the secondary Grey market flippers. They screwed up the whole market. Try to buy a Rolex stainless sports watch from a Rolex dealer. More than a year on a waiting list. But u can buy one from a flipper for about 40% more than a brand new one. Crazy maybe they all get burned properly this time.
Great message here. I'm 78 & just sold my 58 Rolls- Royce Silver Cloud to another Collector who is 80 next month & had a Rolls-Royce on his bucket list. I've owned RR's for 48 years & I'm getting out but might be tempted by a 99-02 Seraph. Changing horses or Rolls @ this point made sense to me. I@ this point in my life I want all the modern comfort instead of Classic styling. If I don't end up getting as Seraph my 89 Turbo RL will be just fine as a fun car.
I was always taught that the market reflected the true value of everything. Apply that thinking to what is happening, The collectors who own the cars are appealing to a smaller market, and the psychology of car collecting is less pervasive with younger people. Beyond that, the new technology of electrification is more exciting to many than a 125 year old solution that has heavy implications for environmental problems. Add to that, many young people see cars as nothing more than a tool with no other value to them.
What is something worth? Only what someone is willing to pay for it. The sellers are merely relearning that prices have limits, and that there isn't perpetual growth without limit. Asset bubbles have occurred throughout history, nothing is new, think about Dutch Tulip Market speculative bubble of the 1630's, beginning in 1634 and culminating in the spectacular collapse in February 1637. Markets always correct, as history repeatedly shows us.
Most of us have seen our stock portfolios rise in the neighborhood of 50% in the last four years. We are not hurting. A loss on one of our cars is a blip in the road.
It is the same for all collectibles, not just cars. Typically people with money in their 40s and 50s will buy the cars that were premium in their teens. In their 60s they are thinking of retiring and simplifying their lived
After the pandemic there was excess money available to spend on classic cars. This market correction is just an expected result once demand was satisfied (in addition to other factors). Combined with the generational gap, this is not a surprise. Since I don’t buy autos for flipping, I can pick my timing. And I’m not about profit and loss.
Older cars is a smaller and more expensive market. And for the most part you don't drive these cars because that devalues them. Which makes an even smaller market. These cars are mostly investments that go up and down with the economy. Therefore lots of red at the moment. Newer cars are also cheaper cars. And because they are cheaper, newer and probably more plentiful as well as easier to maintain, some people will buy buy them to drive as well. So a much bigger market. Still dependent on the economy, but probably makes them even more popular when times are tough. Therefore lots of green. It's not rocket surgery.
These are still unbelievable high values for cars that are virtually useless however pretty they might look on a poster on a bedroom wall. Praise the Lord.
So pricing actually coming back in touch with reality is a "bad" thing? Horse feathers, the prices have gotten so much out of touch with reality that those of us that would like to buy an older car have been solidly priced out oft he market! Looking at what is going on for eBay and sales such as this, is rusting pieces of garbage being listed at obscene prices, it's about time that prices came back to reality!
I am no expert here, but if something meets my criteria and I can afford it I will buy it at the best deal possible and to keep. Many valid points here but simply put its just not a sellers market. Depending on the election result it may not be a buyers market either.
Anybody from the Art World will tell these guys these seemingly dramatic ups and downs in the free market are part 'n parcel of the overall economic landscape regarding antique trading. Like many other discretionary purchases & possessions; automobiles have their "seasons" just like on Antiques Road Show items seen on PBS.
Hard assets go up in value as inflation increases and drop in value as inflation decreases. Aging boomers are certainly another factor. Having been in the car business for a number of years, I now don't even own a car. It still anazes me I can essily live without it. ]
I would think if it coincides with the economy it has more to do with interest rates and a poor economy. Boomers didn't die within one or two years in that high of a number for it to change that quick. I would say its a good time if you have cash.
Other collectables are also crashing from vinyl records, watches and comic books to antique furniture. The generation that collects a particular thing fades away. Collector cars are just rich guy cabbage patch dolls
Times have changed. The younger the man, the less likely they will be interested in building a car collection. Going forward there are fewer new collectors. Demographics at work.
Good call, but I believe your time estimate is short by about 50 years, barring some completely unforseen technological wonder. It will certainly happen.....but when?
High interest rates affects incomes of the top 1% who are the ones who buy these cars. This is not an inflation issue but a reduction in the glut of the millionaires.
The same is happening here in the USA. JDM cars have become quite collectible very quickly and I think I have a long way to go. It’s about time isn’t it?
Collecting norms are VERY different among the current 18-25 year old cohort. Emissions, carbon reduction and the ICE age are just not acceptable to many. I know that’s not all, but the potential market across generations is shrinking in a way we have not seen before. Also, Chinese market has closed, HK too. Leverage is unlikely to be a hunk the outlook big driver of prices. Is soft. Very.
Decided on a 912 over a 356 because the boomers are dying and the younger folks coming in to buy when I’m done with this car will want the 911 style body over the bathtub Porsches imo , if I had a 356 I would sell it now as prices will soften as folks age out just look at the latest 356 registry. Folks in their 70-80 not many youngsters. They will be selling it’s a matter of time. May be a glut of them
Forced to pocked only 1,1 mil. Boo hoo. What a tough life. Classic cars are like any other ponzi scheme. The prices over the last decade have simply gone nuts. Were not talking about cars really, just 1 percent's investment portfolios.
Always boggled my mind that people wanted these old piles of junk, er 'classic cars' at 1/100th the prices they paid. It's like collecting 'classic' horse and buggies from a century ago.
Is this a short term (say 5 years) or long term (decades) long trend? Demographics means fewer buyers (weathy boomers ageing out)... and the younger generations are more interested in experiences and less about owning things". And the younger generations increasingly look down on ICE vehicles. Sure these behavior changes are "on the margin"... but 5%-10% and growing of the potential buyers going away (possibly forever) drives down prices.
This discussion is obviously to rich for my blood. But for me, dabbling in the sub-$100K market is -- because of my age -- where I focus my attention. Fortunately the generation following the Baby-Boomers have taken up the mantle of 1960s-2010s drivable classics and will adapt them to their own wants and desires. Still, original and restored classics of this era will rise in value until they become too expensive. I've a 50+ year passion for the BMW marque, and own three. Despite my modest investment, are all capable drivers and-or concours winners.Their values rise annually which justifies the expense of ownership. Pebble Beach has its place, however Information age technology has intervened, helping connect sellers with buyers and collectors -- who are far more savvy than their predecessors. The current market is now virtual as well as global. You can analyze the Pebble Beach statistics and cite "The Market," but that's not the only problem with softer sales.
Why do you keep asking the same questions 3 times? If your buying cars for an investment, just don't do it if your not familiar with the landscape. 550s were 60k not too long ago. If you know what your doing you would have bought it then. These guys are missing the point as well. Neither were talking about japanese cars. Skyline GTRs are pulling Porsche money. There is a whole Japanese culture that is still cheap and climbing faster than any Porsche or Ferrari. Everyone is in Porsche fatigue. I've had them since the 90s and I've been sick of this bandwagen for the last 7 years. Don't get caught with you pants down. buy Japanese, if you know, you know.
Agreed, there are so many videos out there of 'man caves' full of 20 odd expensive classics .... just suggestive of the lack of imagination of rich men once they have screwed their clientele for 30 years straight.
@@MrVorpalsword Bunch of communist talk here! So they "screwed" their clientele by what? Building more roofs with higher quality than anyone else would provide? Why don't you simp's grow up and strive for something, ANYTHING but best video gamer.
Investors types taking a bath is actually a good thing for the real enthusiast.
I don't like seeing people take a bath, but you're right, lower prices allow the enthusiast to own cars they might not be able to otherwise.
@@RapleyClassicCars Given the types of people taking the bath and what they've done to car enthusiasts, I don't care. Quite happey actually.
Who are these "enthusiasts"? No matter price dip, the numbers will still be high and be treated as investment. Unless you are a billionaire, it's still expensive to own and use these.
I really don't think you understand what this means ! World Wide Great Depression#2 incoming ! This will be AT LEAST 4 times WORSE than 1929 to 1939 !
@@pfrohwein Nonsense. These people are no longer relevant to the real world.
😂Nothing better than listening to two Salesmen mumble through why the crap their selling is not worth what it never should have been worth in the first place.Priceless........lovin it.
Well said sir
I tell people a the time that all cars are junk. Every single one, lol. I'm sure that's an exaggeration and there are a couple good cars out there, but the rest are pure heaps of trash.
@@cruisinspecialtiesllc6104 I disagree to an extent.
If you think of a car only as a tool to get you (plus X) from A to B, to do what you need to do. Then you end up looking at everything so different. And undesirable cars become very interesting.
But the cars these guys are talking about are often for pure peacocking or fun.
I’m lovin it too.
@@cruisinspecialtiesllc6104 It's not an exaggeration. It's just a very stupid and uneducated comment.
If you can't see the beauty and value in certain cars, then you have a real problem friend. It doesn't even matter how well they are put together. It's how they sound and look and how cool you feel driving them that matters.
Pretty much everyone understands that except you.
All collecting follows a bell curve. Buyers age and a new generation has different tastes, less space to store things, less people to work on cars, less competition for desirable machines, less buyers as they age and sell.
I agree.
Or don't have the money
The prices of cars will fluctuate as each generation gets more buying power and the coolest cars they idolized will begin to rise in price and the old cars that have way less nostalgia start to go by the wayside.
All collecting does not "follow a bell curve" otherwise Da Vinci's would be worth bugger all and nobody would remember who Giotto was. Your claim is so wrong its laughable.
Why is car prices going down a catastrophe? It is a blessing for anyone who wants to buy!
The 80's and 90's are a sweet spot as the electronics are fairly simple. Exotic cars 2000 and up we are now dealing with ECM modules and software issues that are turning these cars into bricks. Aston Martin and Jaguar owners are having a big problem with this and to a lesser extent Lamborghini and Ferrari . Also getting the electric sorted with minor problems can put a car out of commission for 6-8 months as friends that have 430 Ferrari's and Lamborghini Murciolagos have been dealing with. Cars from the 80-'s and back have now lost their functional utility in modern traffic due to safety issues. Driving an 73 Alfa GTV 2000 is not as much fun these days in a sea of new Ford F150 pickup trucks .
Exactly, full sized pickups and SUVs make driving a lot less fun unless you find a really empty road
Glad l sold my 81 RX7 a few months ago
try driving a lotus elan on the long island expressway , takes a lot of courage :)
Seems to me those stupid trucks are ruining it for everyone.
There will be no “modern classics”
The elephant in the room is the fact that the rally in car prices happened when interest rates were close to zero, and/or when other assets dropped (in 2009, buyers were even saying “my money is safer than in a bank and at least I can see it”). Now the car owes you 5% a year at least, plus storage, maintenance and insurance. So for $1m, this is at least 60k per year. So will a $1m 300 SL will be worth $1.12m in 2 years from now to only break even? There is an alternative now…
Very true. We mapped the rise in classic car prices in conjunction with the Fed pumping money into the economy (Quantitative Easing) and the rise in cheap money matched the rise in classic car prices almost exactly. The two must be related.
I think "nobody is talking about the bloodbath" because nobody gives a poop about bankers' tears. Buy what you love.
Honestly, the bigger issue here is the auction houses forcing sellers to go no reserve. You can still command a fair price if you have patience and are willing to manage the process yourself, or between you and a broker. Values were absolutely inflated but the results seen here are a combination of a market reset AND the fact that sellers are being forced to jump without a parachute.
I agree 100%. The majority of the cars went up at no reserve. It's a double edged sword. Sometimes they sell well, typically they sell poorly.
@@RapleyClassicCars So more realistic prices then. No reserve is better for normal people then.
The same rain rains on everyone. I think this correction is long overdue. The stock market is going to correct about 40% as well, This is great news.
Let’s all cry a big fat tear for the multimillion/billionaires who are losing a tiny bit of their massive wealth. Jesus fucking Christ ridiculous. Couldn’t happen to a better class of people.
thanks for your contribution Wayne Kerr
crocodile tears
Thanks gents! Seems to me that people want cars they can actually drive. Probably tires are the main problem for older models. And reliability, therefore mechanics too. What do you think?
I agree. I sense drivability is a key aspect. A/C especially.
Boomers are selling and there’s nobody buying their toys
@@RapleyClassicCars Yes. Very good point. Probably safety also.
@@trevorlees1241very true. I am 50 and I inherited a 1960 Alfa but never really drove it as I never felt safe in it. Sold it at the top of the market as people my age and younger do not have much interest in these cars. Notably the 80s and 90s cars are making a big push now.
Most actual hobbyists work on their own cars, investors have others do the work. Tires are not a problem Coker Classic Tires has nearly anything. A/C can be retrofitted to nearly any classic. My 70 Chevelle SS454 convertible, and 1957 Studebaker Golden Hawk included.
A simpler explanation is that prices have peaked and are now correcting. Prices will dip and plateau before they move again. It’s just the nature of the beast. I’m 65 and have been collecting for a while but with some vigour in the last 10 years. My tastes are also evolving and I’m assessing my collection. But I’m still in the market and I’m keeping an eye out for a Porsche 993 S. prices are weird. But since I want the car, I’ll buy when I find the right car and at a price I can afford. It won’t matter which way the market moves after I get the car I want.
Many - many moons ago I was aware of an Investment Fund which exclusively invested in Classic Cars. On close analysis it became evident that the total spread between the buying and selling price was around 12%. I have never viewed Classic Cars as an Investment regardless of the BS which has been put out by various Auction houses. I cannot help but think that many like me in our 60s / 70s have just got fed up with buying items we just don’t really need AND want to unload items we already do have.
I'm 66 and I'm looking to de-clutter not own more assets. I think many
Reach a stage in life where they want to downsize and simplify things, presumably this affects
Car collectors too.
To have a million tied up in a vehicle when interest rates are 1% is one thing but when interest rates are 7 or 8% it’s a whole new deal.
That's 100% true
Good point about boomers (I’m one), downsizing and not using cars that are hard to get in and out of. I now just have two - one from 1956 and one from 2006, and I use them. Used to have seven classics but no longer see the point if I’m not using them.
Is it a 56 Thunderbird by chance? Or 56 Chevy?
You're spot on with dream cars from our teenage years. I'm 67 and love the old B body Mopars and other muscle cars right along with MGs and Triumphs as I drove sports cars from the start. My 28 year old son could care less about any of those and has way too much money in a modified S2000 and is ready to pay $50k for an FD Mazda RX7. You mentioned Japanese cars and just watch the Fast and Furious movies and those coming into money saw the first one as a pre-teen and now can buy one. A 300 SL? Old guy car. Who's gonna drift one of those. So yes, look at who the market is going to be in the coming years. It ain't pre-war stuff or 50's anymore. It's certainly original Skylines and Silvias.
Great data and analysis. It would be awesome to have a column in that chart for previous year or years. For example, Gullwings are sold at Pebble every year, Daytonas, etc. And red or green if they sold for the estimate of that year (without having to put all the same data for every year).
Great suggestion!
The tide turned. We ain’t seen nothing yet.
The most ridiculous part of it all is the buyer's premium being so high
Not just the classic car market.
All collectibles are dumping !
Go check the high-end watch market ,Numismatics are also down a lot.
Very interesting. I'll have to have a look. I am sure collectibles swing in the same direction.
I think the combo of low-low interest rates and boredom during the pandemic drove a surge in buying. Now the less committed are unloading.
I also think the Pandemic taught people that going out, going on vacation, weekends away, visiting family etc are far more important than owning "things". That may also be a factor.
Is this an infomercial?
This video isn't about cars - it's only concerned about money, and being only concerned about money among this crowd is commonly known as "greed".
They won't talk about it because they're embarrassed at having been duped.
It doesn't appear to be a bloodbath, but the sales prices are down a bit. That's not a Bloodbath.
What hurt them? Their expectations🎉. Nothing else. Greed met Investors, not car Lovers.
Very, very true, same as the watch market, most of the more expensive stuff is completely dead, and then the greed of the secondary Grey market flippers. They screwed up the whole market. Try to buy a Rolex stainless sports watch from a Rolex dealer. More than a year on a waiting list. But u can buy one from a flipper for about 40% more than a brand new one. Crazy maybe they all get burned properly this time.
So, when can we get Series II Etypes for 35k?
It. Would be more informative to know the previous purchase price.
Great message here. I'm 78 & just sold my 58 Rolls- Royce Silver Cloud to another Collector who is 80 next month & had a Rolls-Royce on his bucket list. I've owned RR's for 48 years & I'm getting out but might be tempted by a 99-02 Seraph. Changing horses or Rolls @ this point made sense to me. I@ this point in my life I want all the modern comfort instead of Classic styling. If I don't end up getting as Seraph my 89 Turbo RL will be just fine as a fun car.
You thinking about a Bentley turbo RT
No a Seraph or possibly an Arnage Green Label
Wraith is the way to go. Check it out
@@terrymurphy2637 going to take them out try and get it sorted for Christmas thanks for your advice
I was always taught that the market reflected the true value of everything. Apply that thinking to what is happening, The collectors who own the cars are appealing to a smaller market, and the psychology of car collecting is less pervasive with younger people. Beyond that, the new technology of electrification is more exciting to many than a 125 year old solution that has heavy implications for environmental problems. Add to that, many young people see cars as nothing more than a tool with no other value to them.
What is something worth? Only what someone is willing to pay for it. The sellers are merely relearning that prices have limits, and that there isn't perpetual growth without limit. Asset bubbles have occurred throughout history, nothing is new, think about Dutch Tulip Market speculative bubble of the 1630's, beginning in 1634 and culminating in the spectacular collapse in February 1637.
Markets always correct, as history repeatedly shows us.
Absolutely correct......anybody who has had a lemonade stand could probably explain markets.
It's really hot today....get more lemons!
Very interesting chaps
Glad you enjoyed it
Get on with it quit dancing around in your attempt to make a point
Most of us have seen our stock portfolios rise in the neighborhood of 50% in the last four years. We are not hurting. A loss on one of our cars is a blip in the road.
2000s era Sports Car is the most fun and fascinating cars of All Time
Ferrari 430
Aston DBS
Lambo Aventador
Etc
auction house's simply charge to much for their services
It is the same for all collectibles, not just cars. Typically people with money in their 40s and 50s will buy the cars that were premium in their teens. In their 60s they are thinking of retiring and simplifying their lived
After the pandemic there was excess money available to spend on classic cars. This market correction is just an expected result once demand was satisfied (in addition to other factors). Combined with the generational gap, this is not a surprise. Since I don’t buy autos for flipping, I can pick my timing. And I’m not about profit and loss.
The real elephant in the room that no one wants to talk about is the money laundering aspect of these options
Older cars is a smaller and more expensive market. And for the most part you don't drive these cars because that devalues them. Which makes an even smaller market. These cars are mostly investments that go up and down with the economy. Therefore lots of red at the moment.
Newer cars are also cheaper cars. And because they are cheaper, newer and probably more plentiful as well as easier to maintain, some people will buy buy them to drive as well. So a much bigger market. Still dependent on the economy, but probably makes them even more popular when times are tough. Therefore lots of green.
It's not rocket surgery.
As soon as a car might be worth less in the future than what you pay for it today, it creates a vicious circle.
These are still unbelievable high values for cars that are virtually useless however pretty they might look on a poster on a bedroom wall. Praise the Lord.
Rarity, performance, looks the 3 criteria for car collection value, why have lotus been so soft? I dont get that
Because they're gay
For whatever reason they just haven't caught on. Perhaps they will later.
So pricing actually coming back in touch with reality is a "bad" thing? Horse feathers, the prices have gotten so much out of touch with reality that those of us that would like to buy an older car have been solidly priced out oft he market! Looking at what is going on for eBay and sales such as this, is rusting pieces of garbage being listed at obscene prices, it's about time that prices came back to reality!
I am no expert here, but if something meets my criteria and I can afford it I will buy it at the best deal possible and to keep. Many valid points here but simply put its just not a sellers market. Depending on the election result it may not be a buyers market either.
Anybody from the Art World will tell these guys these seemingly dramatic ups and downs in the free market are part 'n parcel of the overall economic landscape regarding antique trading. Like many other discretionary purchases & possessions; automobiles have their "seasons" just like on Antiques Road Show items seen on PBS.
Makes an interesting point regarding demographics, as Europeans see the value in these cars more than any other ethnic group.
Aww,rich people crying about not getting obscene prices for their investment toys. Too bad for them.😪
Hard assets go up in value as inflation increases and drop in value as inflation decreases. Aging boomers are certainly another factor.
Having been in the car business for a number of years, I now don't even own a car. It still anazes me I can essily live without it.
]
I would think if it coincides with the economy it has more to do with interest rates and a poor economy. Boomers didn't die within one or two years in that high of a number for it to change that quick. I would say its a good time if you have cash.
Other collectables are also crashing from vinyl records, watches and comic books to antique furniture. The generation that collects a particular thing fades away. Collector cars are just rich guy cabbage patch dolls
After 1995 the cars are more afforable, they arent multimillion cars
I need to get rich fast so I can buy some of these cars . Chesp that's when you buy .
Times have changed. The younger the man, the less likely they will be interested in building a car collection. Going forward there are fewer new collectors. Demographics at work.
I like to look at classic cars, but do not want one. It’s new, for me‼️
i am getting Used 2013 Porsche Cayenne for under 16K is it a collectible SUV ?
I don't think there are any collectible SUVs from this century. But that sounds like it might be a nice driver.
That’s so gross 🤮
Even the rich car collectors are broke.
Not very classy to neglect to provide a link to your guest's channel.
They totally discount the fact that IC engines are becoming completely obsolete. Fuel will become more expensive then the car in 1 generation.
Dream’n
Good call, but I believe your time estimate is short by about 50 years, barring some completely unforseen technological wonder.
It will certainly happen.....but when?
High interest rates affects incomes of the top 1% who are the ones who buy these cars. This is not an inflation issue but a reduction in the glut of the millionaires.
There is a lot of repetition in the early part of this..
The banks are about to collapse? Buy silver and gold 😉
Buy baked beans and peas
Bitcoin
The only reason any of this stuff has any perceived value is someone markets it to the fish
Those collectors are dying!
For goodness sake. Ask a good question and let the person answer
JDM cars from the mid nineties are strong here in Aus.
Supras, GTR, RX7 etc command good prices.
The same is happening here in the USA. JDM cars have become quite collectible very quickly and I think I have a long way to go. It’s about time isn’t it?
People are asking a lot, but most aren't selling.
@@NewVanillaBear Source?
Collecting norms are VERY different among the current 18-25 year old cohort. Emissions, carbon reduction and the ICE age are just not acceptable to many. I know that’s not all, but the potential market across generations is shrinking in a way we have not seen before. Also, Chinese market has closed, HK too. Leverage is unlikely to be a hunk the outlook big driver of prices. Is soft. Very.
Decided on a 912 over a 356 because the boomers are dying and the younger folks coming in to buy when I’m done with this car will want the 911 style body over the bathtub Porsches imo , if I had a 356 I would sell it now as prices will soften as folks age out just look at the latest 356 registry. Folks in their 70-80 not many youngsters. They will be selling it’s a matter of time. May be a glut of them
Forced to pocked only 1,1 mil. Boo hoo. What a tough life. Classic cars are like any other ponzi scheme. The prices over the last decade have simply gone nuts. Were not talking about cars really, just 1 percent's investment portfolios.
Always boggled my mind that people wanted these old piles of junk, er 'classic cars' at 1/100th the prices they paid. It's like collecting 'classic' horse and buggies from a century ago.
...of course a catastrophy for you, dealer. Maybe buyers finaly Figured out, that the Figures have been too high, the benefits too low for that.
No reserve means no work for auction houses
Mere speculation....
Is this a short term (say 5 years) or long term (decades) long trend? Demographics means fewer buyers (weathy boomers ageing out)... and the younger generations are more interested in experiences and less about owning things".
And the younger generations increasingly look down on ICE vehicles.
Sure these behavior changes are "on the margin"... but 5%-10% and growing of the potential buyers going away (possibly forever) drives down prices.
Generational shift.
So a bloodbath equals people selling cars, seeking $6 million, only get $5.7 million? Wow.
That will really help normal people.
Bloodbath???
That in sales is an over exaggeration.
This discussion is obviously to rich for my blood. But for me, dabbling in the sub-$100K market is -- because of my age -- where I focus my attention. Fortunately the generation following the Baby-Boomers have taken up the mantle of 1960s-2010s drivable classics and will adapt them to their own wants and desires.
Still, original and restored classics of this era will rise in value until they become too expensive. I've a 50+ year passion for the BMW marque, and own three. Despite my modest investment, are all capable drivers and-or concours winners.Their values rise annually which justifies the expense of ownership.
Pebble Beach has its place, however Information age technology has intervened, helping connect sellers with buyers and collectors -- who are far more savvy than their predecessors. The current market is now virtual as well as global. You can analyze the Pebble Beach statistics and cite "The Market," but that's not the only problem with softer sales.
Car jockeys,trying to sell themselves
Why do you keep asking the same questions 3 times? If your buying cars for an investment, just don't do it if your not familiar with the landscape. 550s were 60k not too long ago. If you know what your doing you would have bought it then. These guys are missing the point as well. Neither were talking about japanese cars. Skyline GTRs are pulling Porsche money. There is a whole Japanese culture that is still cheap and climbing faster than any Porsche or Ferrari. Everyone is in Porsche fatigue. I've had them since the 90s and I've been sick of this bandwagen for the last 7 years. Don't get caught with you pants down. buy Japanese, if you know, you know.
More money than brains
Generational shift. And economic expectations. Very real
These cars have been overpriced for years
Stay away from California...
Boriing rambling repetitive first five minutes. No substance. Just guessing with no subsstance. gave up on video.
Bidenomics.
trump
Us young adults don’t care about cars. The idea you have multiple cars just to have them is stupid.
Agreed, there are so many videos out there of 'man caves' full of 20 odd expensive classics .... just suggestive of the lack of imagination of rich men once they have screwed their clientele for 30 years straight.
@@MrVorpalsword Bunch of communist talk here! So they "screwed" their clientele by what? Building more roofs with higher quality than anyone else would provide? Why don't you simp's grow up and strive for something, ANYTHING but best video gamer.
You sound nonbinary
@@MrVorpalswordYou sound vaccinated
@@RootBeerGMT you've never heard what i sound like ?
Where is the real car data? Who wants old euro trash?
Compared to the new trash with unrepairable electronics?