Watching Mecum tonight,and it;s official,collectors are cashing out!
- Thread starter chargervert
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Demand is only there because of available credit, not real money, with today's kids, borrow till you can't find a way out is the way. Prices coming down may not draw more younger people that just don't like us or the things we do. Most kids are taught green is the way, the only green I believe in is a buck. I hope you're right though
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4406bbl
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I think you guys do not realize how much money the next generation makes vs what we made at the same age. My kids purchased hellcats and redeyes with cash. All own homes free and clear, just saying it is a different world for those with skills, work ethic, and raised to always pay cash, never borrow.
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I know that this thread is about Mecum, but t's not just cars that are going for ridiculous prices. Real estate, especially waterfront property. This one is down the street from me.
www.nhlakesrealty.com
653 Canal Road, Wakefield NH Real Estate Listing | MLS# 4964996
653 Canal Road, Wakefield NH Real Estate Listing | MLS# 4964996
www.nhlakesrealty.com
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I realized, I raised one, She's a CRNA making just under 300 a year now. She or her boyfriend, could care less about a car, she drives a 3 year old jeep Cherokee and I don't mean Grand Cherokee. Other than a car, she lives like a queen. I have asked her why she doesn't trade up, she just rolls her eyes up at me. Not everyone is interested in cars, which takes us back to the beginning of this story.
My last year working was 2009 and I made 138,000 that year, from work, nothing else, that's about 190,000 today. With inflation a car that cost 40,000 in 2009 should be around 52,000. I believe they're going for more than that. Everything has gone up and they're doing whatever the market will bear till they stall it. It cost by far more to live today than when we were coming up. I went to Costco, Walgreens and to the grocery store yesterday and spent around 600 dollars. My first house cost 24,000 in 1979, that would be around 100,000 today. I sold one like it two years ago for 245,000 and today it's 275,000. Money is not money anymore. The system is taking turns massaging our prostate. I usually play with the banks money and save mine. Good for you and your kids!!!! That doesn't happen everyday!!
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Runcharger
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I know a couple of collectors with several high end cars. To be honest they have so much cash they don't know what to spend it on. They like that the value of their Mopars goes up but I think if the values were to drop in half (not very likely) they would keep what they have and just buy some more. They have beautiful homes, nice daily driver vehicles and can spend $500k on another collector car without blinking an eye. The guys that work for these people can't afford $100k and up Mopars but that doesn't change the market at all.
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Everyones been saying that "Collectors are cashing out"
for near 20 + or - a few years now
since the Mecum & Barrett Jackson Auction 'trends'
of muscle cars sales started...
far more parts out there to damn near rebody/resheetmetal
the whole cars now
that wasn't out there 20+ years ago
restoration shops & hobbyists doing more quality restos
Resto-Mods no in many cases bring as much if not more
than 100% OE stuff, the Quality cases have taken over,
4x4 trucks/SUV's that were clapped out rusted hulls rotting in some filed
'yesterday'/'yesteryear', were collecting mouse houses, like in the past
now 'NOT' or a $2500 rigs 'at best'
now "restored" way better than new, are selling for $25,000+++
$250,000 in some cases
if anything it has grown, made jobs for shops, or hobbyists builds
too damn many auctions (**Mecum especially)
**flooding the market or diluting the very same market
seems like, the same 250 - 500 or so cars/in rotations of collections
get pieced out, on to the next
(Bob Johnson, Ron Pratt & Rick Hendricks did it too)
I sware all the 'same ****' getting sold over & over again, every few years now'
just goes to other collectors
**cuts off their nose despite their faces
they are only original once
most are so far from what came off the assembly line was, it's nuts
but the purists matching #s crowds 'eats it up'
It's not new, it's not going away, it's evolving, ever-changing
that's my $0.02 cents, take it or leave it
for near 20 + or - a few years now
since the Mecum & Barrett Jackson Auction 'trends'
of muscle cars sales started...
far more parts out there to damn near rebody/resheetmetal
the whole cars now
that wasn't out there 20+ years ago
restoration shops & hobbyists doing more quality restos
Resto-Mods no in many cases bring as much if not more
than 100% OE stuff, the Quality cases have taken over,
4x4 trucks/SUV's that were clapped out rusted hulls rotting in some filed
'yesterday'/'yesteryear', were collecting mouse houses, like in the past
now 'NOT' or a $2500 rigs 'at best'
now "restored" way better than new, are selling for $25,000+++
$250,000 in some cases
if anything it has grown, made jobs for shops, or hobbyists builds
too damn many auctions (**Mecum especially)
**flooding the market or diluting the very same market
seems like, the same 250 - 500 or so cars/in rotations of collections
get pieced out, on to the next
(Bob Johnson, Ron Pratt & Rick Hendricks did it too)
I sware all the 'same ****' getting sold over & over again, every few years now'
just goes to other collectors
**cuts off their nose despite their faces
they are only original once
most are so far from what came off the assembly line was, it's nuts
but the purists matching #s crowds 'eats it up'
It's not new, it's not going away, it's evolving, ever-changing
that's my $0.02 cents, take it or leave it
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hdwrench
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not much for foreign cars weather there toyotas or lamborghini, don’t do nothing for me . gimme a good old american car any day ….
In our house we feel it’s crucial to make memories with our cars that our kids can see. It’s memories that led us to buy each one of ours and we believe it’s memories that will give our cars the greatest potential to stay in the family.
Dad made me a great tire kicker so I feel we stole each one of our cars when we bought them.
I’m 49 and mama’s 50. We’re hoping we have enough time to build lots of memories for our kids with our cars to feel they want hang on to them when we leave this planet. But if they do decide to liquidate them after we’re gone, I don’t feel we wasted too much of their inheritance on them lol.
Only time will tell I guess.
Dad made me a great tire kicker so I feel we stole each one of our cars when we bought them.
I’m 49 and mama’s 50. We’re hoping we have enough time to build lots of memories for our kids with our cars to feel they want hang on to them when we leave this planet. But if they do decide to liquidate them after we’re gone, I don’t feel we wasted too much of their inheritance on them lol.
Only time will tell I guess.
Wow!! You did good!! Life's what you make it and you have the go pedal of it pushed through the sheet metal...... Ulli
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Those are just some of the highlights. I don’t dare post the obstacles we’ve faced to get here lol. Wasn’t easy and sometimes we still smash into life but it’s worth it. I know I’m preaching to the choir on that one.
Life is what you make of it, You have to get through the rain if you're ever going to see a rainbow. You're a good man, don't change, it fits you well!!
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Cop car wagon
Well-Known Member
I've been playing with imports while I've been waiting for time to restore my mopars. You know, german imports, cars that are newer, don't need paint and interior, still have 400 hp and get over 20mpg.
So i hang with alot of 35-40yo "kid's".
They love my old mopars, but can't afford them. If prices came down, they would buy one. But they are busy trying to find a way to buy a house and get ahead at work.
The home example shown before of a waterfront retirement type house is cheaper than most starter homes out west.
Anything in a good area is 1 mil and up.
Now the masses out in the crime infested hinterlands can get a new construction box with 4 lane traffic for $800k. And no garage and covenants to restrict old cars.
So i hang with alot of 35-40yo "kid's".
They love my old mopars, but can't afford them. If prices came down, they would buy one. But they are busy trying to find a way to buy a house and get ahead at work.
The home example shown before of a waterfront retirement type house is cheaper than most starter homes out west.
Anything in a good area is 1 mil and up.
Now the masses out in the crime infested hinterlands can get a new construction box with 4 lane traffic for $800k. And no garage and covenants to restrict old cars.
terrywalker
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Interesting topic. Two days ago, I was talking to my 17-year-old grandson about cars. He likes the old Mopars and I gave him my 74 Charger Rallye. I offered him a Challenger I'm rebuilding in exchange for the Charger. He turned me down. I asked him which cars he really likes. His responses were:1. 1970s AMC Gremlin - really. 2. 1990s Dodge Stealth. 3. 1970s AMC Hornet. He just thinks they look interesting, and he likes the hatchback on the Gremlin. My sister bought a brand new Gremlin out of high school and couldn't get rid of it fast enough. I showed my grandson different photos of 1968-1970s AMC Javelin/AMX and he liked those. He liked the photos of most of the muscle cars I showed him from the late 1960/70s time period of all makes ( Camaros, Mustangs, Cougars, Cyclones, Roadrunners, Cudas, etc.). A surprise - he liked the Ford Falcon from the 1960s.There is hope. What he didn't like- AMC Pacer.
Terry W.
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There are exceptions, but stuff we liked in our formative years tends to drive what we think is cool as adults. My daughter grew up with GTXs, learned to drive on my third one. Any interest she had in acquiring any of mine down the road vanished after she drove a 1991 twin turbo Dodge Stealth R/T in high school. I took it away and sold it after some behavior problems emerged. Ironically, treatment of the car was never one of them. Now, 25 years later, she wants another one, no interest in the GTX.
Her husband came from modest circumstances, his high school ride was a junk Pontiac Sunbird he bought for $250. He has always coveted high performance VWs from the 1990s, owned one until the first kid arrived. They have neither the means nor the motivation for owning my stuff, and I'm sure they are not unique.
Her husband came from modest circumstances, his high school ride was a junk Pontiac Sunbird he bought for $250. He has always coveted high performance VWs from the 1990s, owned one until the first kid arrived. They have neither the means nor the motivation for owning my stuff, and I'm sure they are not unique.
If the 'collectors' that own all these cars are 'cashing out', who is 'cashing in'? Someone's buying them at the current over-inflated prices right?
Is it other collectors/foreign muscle car lovers/etc? IMO the guys that have been holding these cars might be selling because the profit margin right now is too good to ignore...Just food fer' thought...
Is it other collectors/foreign muscle car lovers/etc? IMO the guys that have been holding these cars might be selling because the profit margin right now is too good to ignore...Just food fer' thought...
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Speaking as one small drop of water in that ocean, I sold three nice GTXs in the last two years, and am now down to one. I will be turning 70 in a few weeks, and am trying to downsize, in anticipation of being out of my current home within the next decade. The fact that I didn't lose money in the process made it easier, but putting the cash in my pocket wasn't my primary motivation. All three cars were purchased by guys who were my age.
My daughter got to drive the Charger this week and the Porsche. She is bring into cars and racing
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