Reality Check: The Collector-Car Market Has Reached Correction Territory

[Sam69sat]

until the DOW is 18,000

Which would still be overvalued and lacking any fundamentals. Hopium keeps it up there though.

 

[Ron H]

I’ve never approached 70 before, nor have the guys I know and chatted with been approaching 80 before. Have my doubts I’ll be wrenching on and driving my ride 10 years from now. All fine - now. I qualified, hope I’m wrong not posting any guarantees, but the overall demographics makes me wonder.

 

[gdrill]

Lots of cars are for sale over the last couple years. More all the time. It could be the owners are getting old and selling off or maybe they are seeing the fall that is inevitable.

 

[VANDAN]

until the DOW is 18,000

Which would still be overvalued and lacking any fundamentals. Hopium keeps it up there though.

It will stay Afloat, as niether Party wants the Blame for the "Correction" that's coming.................

 

[440 PHIXX]

I think I said it on here already but… I don’t think anything has really gone up in the last almost 3 years. The value of of the dollar has gone down.

 

[GetX'd]

TSX at 20,500 and the Dow at 35,000... I doubt it.

Yeah but recall the Dow was about to break 40k not to long ago. So much depends on which set of clowns have the cattle prod post election….

 

[Ron H]

Yeah but recall the Dow was about to break 40k not to long ago. So much depends on which set of clowns have the cattle prod post election….

What's the saying I heard not long ago? Elect a clown - expect a circus..

 

[dadsbee]

Yeah but recall the Dow was about to break 40k not to long ago. So much depends on which set of clowns have the cattle prod post election….

Approaching, and never making 40K was a long long while ago... The one time that I cashed out part of my RSP was timed correctly!

 

[dadsbee]

The highest closing price for the Dow Jones Industrial Average (DJI) all-time was $36,799.65, on January 4, 2022.

 

[DeltaV]

 

[dadsbee]

View attachment 1562930

Thanks Wayne! Just hoping it holds into January so that I can cash out 2024's RSP amount (and find another car!) LOL

 

[68BabyBlue]

I wonder about the age range of guys having all the old muscle or classics from the late 50’s through early 70’s, the era of the cars I relish the most. I’m a mid-age boomer approaching 70 and the high side are going toward 80. Most guys I know and meet having cars of this era are not much younger than I am, more my age or older. More often at shows I’m chatting with geezers selling their cars some having had them for 30-40+ years. Younger gen’s seem not so much interested – suppose it is the cars they remember growing up being the main attraction, like it is for me.

Next 10-years could be rather imploding IMO for the era rides I covet. Hope I’m wrong, but…more supply and less demand?

My last two acquisitions were the products of guys aging out. Both cars spent three decades with prior owners.

 

[68BabyBlue]

Approaching, and never making 40K was a long long while ago... The one time that I cashed out part of my RSP was timed correctly!

Same thing happened when I bought my Hemi GTX. Looked like a shrewd move in hindsight, but driving force was not wanting the car to get away.

 

[WileE]

Back to the subject... my cars have their "enjoyment value" and their "market value". The former is the only one I care about.

 

[WileE]

Oh the humanity! The value of my original owner 1979 Chrysler 300 is heading back to $1,000 territory!!!

Which means my Cordoba is just scrap $$$...... oh, well.... I think I'll just continue to drive it, and my other cars, for the pleasure.

 

[Spare Parts]

JMO ,the glass half empty!
The lack of interest in old cars from today’s youth is what
will determine the car market.

 

[VANDAN]

JMO ,the glass half empty!
The lack of interest in old cars from today’s youth is what
will determine the car market.

It may be lack of interest, due to various reasons, but many youth are residing in their parent's basements, due to Our struggling economy...

 

[Ron H]

My last two acquisitions were the products of guys aging out. Both cars spent three decades with prior owners.

Over the past couple years at shows I’ve chatted with older guys having a for sale sign on their cherry vehicles. The typical question pops up “Why are you selling this beauty?” Sometimes just the look on their face is all it takes to get the hint. Some heartbreaking expressions alone before some will tell you their reasons…seriously ill, crippled up, etc. More than one mentioned wanting to part ways with their ride on their own terms, before their wife or kids have to.

This is my future. No one in the family wants my car, despite their watching me here or there over years taking it apart and putting it back together. Lol, not even some sentimental value! If it ends up with my preference is finding a guy I get the impression loves it like I do. I’ve posted about the mistake I made once selling a cherry car I had to a slob who killed it less than a year after I sold it to him.

Yeah I know once I’m dead it won’t matter – but it does while I’m still taking in air.

 

[eldubb440]

JMO ,the glass half empty!
The lack of interest in old cars from today’s youth is what
will determine the car market.

it would appear to me that all they are interested in is which phone takes the best selfie........ so glad I had an actual hobby

 

[68BabyBlue]

Over the past couple years at shows I’ve chatted with older guys having a for sale sign on their cherry vehicles. The typical question pops up “Why are you selling this beauty?” Sometimes just the look on their face is all it takes to get the hint. Some heartbreaking expressions alone before some will tell you their reasons…seriously ill, crippled up, etc. More than one mentioned wanting to part ways with their ride on their own terms, before their wife or kids have to.

This is my future. No one in the family wants my car, despite their watching me here or there over years taking it apart and putting it back together. Lol, not even some sentimental value! If it ends up with my preference is finding a guy I get the impression loves it like I do. I’ve posted about the mistake I made once selling a cherry car I had to a slob who killed it less than a year after I sold it to him.

Yeah I know once I’m dead it won’t matter – but it does while I’m still taking in air.

This was my sentiment when I sold Baby Blue and the Hemi GTX, and they both went to FBBO members. I had read your story about your GTO, and didn't want to see the same happen to my GTXs. I wasn't as particular with the A33 car, less attachment to it, but I still refused a serious cash offer from a local guy I didn't care for. The current GTX is an enigma for me, no other living person has the connection to it that I do, but I want it to pass to someone who can appreciate the story, and keep it going.