Antique & Classic Cars Blog

Jerome says:

January 29th, 2009 at 5:12 pm

I read something recently that HIGH end cars like Rolls and Bentleys are still selling at the same pace as they have always been. The reasoning is that this blip in the economy isn’t affecting the top income groups. This sounds like it follows that same trend.

I do have a friend that saw prices come down on mid 60s corvettes. He picked up a very nice vette that he wouldn’t consider a year ago. So there is some downward trends in the collector car markets it isn’t as volatile as the rest of the economy. So my advice to other readers - If you’ve been watching for a particular type of car for a while, you might notice the price fluctuation in your favor.

Kris Palmer says:

February 2nd, 2009 at 8:41 am

If I had the money, I’d be looking for bargains, thinking that some people who overextended themselves might have to liquidate a few things to meet bills.

Thing is, everyone with liquidity is looking for those bargains so until lots of people dump cars, the prices may not drop much. And I haven’t seen signs that anybody is dumping cars–where else would they put their money? Not real estate….

I’d be cautious about investing in vehicles that have already had huge runs in recent years, questioning whether there was any more upward margin in a slow economy. Yet the people who buy at the very top are motivated by wanting a particular vehicle, not by its market value. They pay as high as their conscience allows for a unique thing they want. And I don’t have the money for that market segment so what point is there to saying I’d be cautious buying in it?

Market timing is a very tough game. As my brother, who is a management consultant, notes, most financial planners don’t beat the market. And if pros who study it everyday for a living can’t make sure bets, I won’t pretend that I can.

It’s a fun time to watch prices, though.