5 August 2014

2014 Q2 collector car market recap: Is the classic car market slowing?

Although spring and summer’s warm weather typically inspires more drives and events for collector car enthusiasts, it doesn’t necessarily translate into more activity at auction. Despite a handful of massive sales held from April through June (Auctions America’s Spring Auburn and Mecum Indy, for example), the second quarter is often a deep breath taken between Scottsdale’s January mayhem and Monterey’s August charge. In essence, at this point in the year everyone is simply more concerned with driving what they’ve purchased than purchasing something to be driven.

That said, Q2 auction totals have increased each year since 2009, ranging from 9% to 23%. Not so for 2014, however. While the first quarter’s Scottsdale auctions saw healthy growth and the Monterey auctions are shaping up to be earth-shattering, year-over-year growth during the second quarter of 2014 was essentially unchanged in terms of gross dollar volume ($172M in preliminary totals vs. $176M in 2013).

Part of this is due to fewer auctions being held this year versus last (notably Auctions America’s Spring Carlisle sale), with the net effect being that slightly fewer cars were offered and sold than in 2013 during Q2, though the average sale price rose by 2% to offset those changes.

Comparing the first six months of 2014 with the same timeframe in 2013, dollar totals are only slightly ahead, but that still equates to a doubling compared to 2009. Compared to the same point in 2009 the average price paid per car is up by nearly 20%, though the median value is down a similar amount, indicating that most of the growth is being driven by the top of the market. Nowhere will this be more evident than in Monterey this year, where the top 5 cars sold during the week have the potential to eclipse the amount paid for all 882 cars sold in Monterey in 2011 ($200M).

So the question remains: is the market slowing, or is it continuing to thrive? Activity through June suggests the former, as the 2.5% year-over-year growth would be the lowest since 2009 if it held for the year. A slew of impending record-breaking sales, however, will be a powerful counterpoint. As is often the case, the truth is likely somewhere in between and will vary depending on your perspective. For every observer who will see strong Monterey totals as a sign of health in the market, another may see it as owners cashing in at the market’s height. Looking back at year-to-date performance, at least, there are signs that enthusiasm is waning. In August, though, that may be a difficult thought to remember.

Top 5 Q2 North American Auction Sales

  1. 1964 Ford GT40 Prototype Coupe sold for $7,560,000 (Mecum, Houston, April 14)
  2. 1971 Plymouth Cuda 426/425 Convertible sold for $3,780,000 (Mecum, Seattle, June 14)
  3. 1975 Lamborghini Countach LP400 Coupe sold for $1,210,000 (Bonhams, Greenwich, June 1)
  4. 2015 Chevrolet Corvette Z06 Coupe sold for $1,000,000* (Barrett-Jackson, West Palm Beach, April 11)
  5. 1963 Shelby Cobra 289 R&P Roadster sold for $955,800 (Mecum, Indianapolis, May 13)
    *proceeds benefit charity

Top 5 Q2 North American Auctions

  1. Mecum, Indianapolis (May 13): $35.9M (-25%)
  2. Mecum, Houston (April 14): $32.0M (+29%)
  3. Barrett-Jackson, West Palm Beach (April 11): $24.9 (+40%)
  4. Auctions America, Auburn (May 8): $18.9M (+239%)
  5. Mecum, Seattle (June 14): $14.8M (new)

54 Reader Comments

  • 1
    Fran Endwell August 13, 2014 at 14:09
    I hope they go really down, I remember the 3500$ Shelbys and Boss 302's....The "Hobby" has been destroyed. Would love to see the real car lover's come back and not jut look at it as a investment, but a "driving investment" where you can buy something and fix it up and drive it a while then sell it and upgrade, or just be happy and keep it.....Would not mind that at all!
  • 2
    John Hamilton Waxahachie, Texas August 13, 2014 at 15:01
    What's happening with the Full Classics like my 1930 Packard convertible? Don't see any comparables in the article. Thanks.
  • 3
    James Larson waterford Mi August 13, 2014 at 15:08
    Hope this study isn't just based on the BIG name auctions?? What I see/hear around my area, classic cars that are for sale and are being sold at asking prices!! A local classic car dealer is having a harder time in keeping a plentiful inventory. The number of quality used classic cars for sale are diminishing from the retail/wholesale market! Why, as most classic cars sold are going over seas. Meaning, our USA inventory is now at a lower number! What I can see about this is, that my '63 may/should bring a higher selling price, when/if this time comes for me to sell.
  • 4
    Ronald Wheeler Oregon August 13, 2014 at 15:12
    It appears that only the people with the big bucks are buying. Others prefer living and food over a classic. Lets not forget the shrinking dollar.
  • 5
    Alex ford Simi Valley, Ca. August 13, 2014 at 15:16
    This is a very timely and important topic. The common man supports the entire hobby while the rich man helps to set the records in the hobby and the exceptionally rich buy most of the significant cars in terms of provenance and rarity. Excellent looks; classic looks; sportiness are the main component in the hobby that everyone really keeps an eye on. These motivate the hobby, the collector, the driver, the competitor in driving and in concours. The rest follow on their coat tails no matter what category they are in. alexford
  • 6
    john Ficklin Richmond Va August 13, 2014 at 15:33
    I have had my 3 owner 63 Corvette Conv numbers matching car with frame-on restoration for sale for 6 weeks in Auto Trader Classics and have had only 2 calls. Really surprised It is priced to sell.
  • 7
    Mark Ohio August 13, 2014 at 16:16
    Seems like the market is thriving at the top end - at least enough to encourage thrifty investors to put inventory on the market, while at the mid/low end price corrections are still underway. Curious what the numbers show when removing the "top end" out across the board.
  • 8
    Jeff Zurschmeide Portland, Oregon August 13, 2014 at 16:21
    I'm optimistic because so many general economic signs are positive this year. When more money is flowing through the economy generally, people tend to go ahead and make purchases they have been considering. The housing market is up, incomes are up, so my guess is the collector car market will follow.
  • 9
    Jim PA August 13, 2014 at 16:34
    Only 'legit' responses for my collectibles have been big dollar collectors who expect to buy cheap. Is this how they acquired their collections?
  • 10
    Mike Marsh Brandon, MS August 13, 2014 at 16:46
    There is no doubt that the prices at Pebble will be through the roof on every thing but the bigger question is will the tide continue to rise to and beyond Scottsdale?
  • 11
    Steve Maine August 13, 2014 at 16:47
    I believe we are very close to the top of the market as one of the worlds most serious automobile collectors (Ron Pratt from Phoenix AZ.) announced that he will be liquidating his ENTIRE car collection via the Barrett-Jackson Auction in January 2015. There also have been some other high dollar car collections that have been liquidated this year. There is an abundance of driver quality cars out there that have not been drawing the dollars like they have in the past. Like all bubbles they all deflate though some faster than others. I believe we are seeing a slow leak presently.
  • 12
    Gerry Peterborough, Canada August 13, 2014 at 17:10
    Over 20,000 views on KIJIJI, Auto Trader and only 2 people came to see my 86 Mustang GT convertible. I dropped the price 3 times and finally sold it to someone who was admiring it at the grocery store. Results were disappointing.
  • 13
    Dianne Nampa, ID August 13, 2014 at 17:18
    You still can get a great value. I am doing several cars, each of which aren't killers. 78 Mustang King Cobra, 70 Galaxie 500 (only one finished), 73 Pinto Wagon, 71 Triumph Spitfire. Reasonable to do, some are hard for parts, but worth something when completed.
  • 14
    John Carapiet United States August 13, 2014 at 17:18
    Hello? This market is just like mid 1989. The little people are still buying, the big players are cashing out, and by the end of the year Daytona's, 330 GTC's, 67 911S, Speedster's will start declining to 30 to 50% of todays prices. Still high, but like any speculative market it can't keep going up.
  • 15
    Fred panama city,fl August 13, 2014 at 17:33
    There are still good deals out there. You just have to travel to see them. Bought a one owner 68 mustang conv at Mecum in Kansas city for $15,000 less than Haggerty values it at. Also saw a 71 ford with a 429 engine and mint condition sell for $10,000
  • 16
    Pete zendler Hubert nc August 13, 2014 at 17:35
    The common man is left to only drivers and can't really afford anything better due to economic short falls. If he finds a deal does the give up his driver and gets a garage/trailer queen? Not on your life! Cars are meant to be enjoyed not put in a glass box and worshiped. Give that gt-40 and watch the taillights disappear! !!
  • 17
    Jeff Goldman Southern Florida August 13, 2014 at 17:36
    I know it's difficult to research, but sales on the private market are more indictive of what us "regular" guys are paying
  • 18
    Randy White Albuquerque, New Mexico August 13, 2014 at 17:37
    I see the prices of the nice drivers a little soft at this time. This includes numbers matching restored cars in my area. Some are getting asking prices, but quite a few more are not selling as well. I hope that this is a temporary thing. I have a lot of money invested in all of my cars and the prices are just not there now. I can only speak for the cars in my area.
  • 19
    Frank Wichita, Ks August 13, 2014 at 18:00
    Your story sounds like so much political mumbo jumbo we are hearing on the elections; one fact is out weighed by 2 other facts. You can make any set of figures conform to what you want it to say. The bad thing about this whole 'collector car' upswing in pricing due to all these auctions is that when Grandpa's beat up '54 Chevy is listed in the paper his grand kids want $50,000.00 for it.
  • 20
    Robert Groman Naperville, Illinois August 13, 2014 at 18:10
    All things are relative, and cyclical. There will always be ups and downs in the collector car market just as there is in gold, silver and everything else people collect. Neither has the hobby been destroyed. I cannot afford a Boss 302 today, that is true...but I couldn't afford it at the time it was $3500 dollars either. what is important is that the idea of "classics" change, and with that so does the hobby. When the "kids" driving the Nissan and Toyots "Tuners" of today become our age, they will preserve and restore what in their minds were the classics. There aren't enough Boss 302 and Shelbys to go around...but Detroit has come out with retro Chargers, Challengers and Mustangs. Others are taking those vehicles that may have been cast-offs 10 years after they were built and restoring them. There are still plenty of restorable classics out there for under $10K. The hobby hasn't been destroyed, it has changed direction, and that is a good thing. There will be plenty of people who will keep, restore and cherish the Packards, DeSotos, and Studebakers; Jaguars, Mercedes and Rolls Royces. But the cool thing will be when the young men and women of today put their sweat equity, knowledge and skill into the complete Frame-Up restoration of Accords, Celicas and Foresters; Focuses, Saturns and Neons, just as I have done for my Triumphs.
  • 21
    TheRodFather Maine August 13, 2014 at 18:20
    I am a baby boomer. I say when the baby boomers are all gone so is the old classic car market. Dont think it will ever be what it was a few years ago. I am a classic car collector with well over 50 rods and customs etc etc.
  • 22
    Jim Gebhardt Roswell, Georgia August 13, 2014 at 18:49
    As a collector car dealer and restorer, our sales have been stronger this year than any of the past 3. We focus on #2 cars in the $35k and under range so auction prices on the high end are really not relevant to us. Anyone can prop up total auction sales volume numbers with one off nearly priceless cars. We find the volume in the hobby is closer to our price range; affordable, driveable and still fun. Less risk with a much broader audience, and able to better handle economic shifts. The market is still healthy, but I suggest you study the grass roots more and the 6 or 7 big auctions a little less to get a more realistic idea of where things really are.
  • 23
    Gregg Colorado August 13, 2014 at 19:13
    I'm glad I invested what would have gone into my 401k into my '67 Mustang Fastback. It's nothing particularly special. It's not a GT or a Shelby. It's just the prettiest Candy Apple Red over red 289 4-speed imaginable. When I get behind the wheel, I'm that 21 year old just-back-from-Vietnam vet who was anxious to get on with life. And I still am.
  • 24
    Matthew Kansas August 13, 2014 at 19:24
    I think that there are a lot of issues putting pressure on the car hobby. The very high fuel prices, the bad modern gas that destroys the fuel systems of older cars, the higher pressure of regulations on emissions in some states. The shrinking dollar along with Most of Middle America has much less money to play with now than any time in modern history. Many of the boomers have adult kids at home to support and many of the next generation of the hobby do not have the interest or money to get into the hobby. The demographics of most car clubs is changing and many are shrinking. As people use social media rather than clubs to hang with friends.
  • 25
    Kerry D maryland August 13, 2014 at 19:28
    I see the biggest detriment to the classic car hobby the HUGE auction houses and their equally Huge commissions. Maybe people are wising up and realizing that they could pay significantly less for a similar car having equally good condition and provenance, but purchased from a private seller. While I appreciate the auctions being televised and bringing the hobby to the masses, it also makes me cringe hearing that a "flip artist" just made 200% on his investment. This truly inflates the value of the classic car market, and I fear that it is going to create another bubble that will leave the hobbyist reeling while the investor rakes in the dough. The high cost of the auction houses also discourages younger hobbyists due to the huge entry cost to get into the hobby. Auction house record sales tend to encourage an increasing number of "fakes".
  • 26
    Kerry D maryland August 13, 2014 at 19:31
    I see the biggest detriment to the classic car hobby the HUGE auction houses and their equally Huge commissions. Maybe people are wising up and realizing that they could pay significantly less for a similar car having equally good condition and provenance, but purchased from a private seller. While I appreciate the auctions being televised and bringing the hobby to the masses, it also makes me cringe hearing that a "flip artist" just made 200% on his investment. This truly inflates the value of the classic car market, and I fear that it is going to create another bubble that will leave the hobbyist reeling while the investor rakes in the dough. The high cost of the auction houses also discourages younger hobbyists due to the huge entry cost to get into the hobby. Auction house record sales tend to encourage an increasing number of "fakes".
  • 27
    Kerry D maryland August 13, 2014 at 19:32
    I see the biggest detriment to the classic car hobby the HUGE auction houses and their equally Huge commissions. Maybe people are wising up and realizing that they could pay significantly less for a similar car having equally good condition and provenance, but purchased from a private seller. While I appreciate the auctions being televised and bringing the hobby to the masses, it also makes me cringe hearing that a "flip artist" just made 200% on his investment. This truly inflates the value of the classic car market, and I fear that it is going to create another bubble that will leave the hobbyist reeling while the investor rakes in the dough. The high cost of the auction houses also discourages younger hobbyists due to the huge entry cost to get into the hobby. Auction house record sales tend to encourage an increasing number of "fakes".
  • 28
    Kerry D maryland August 13, 2014 at 19:33
    I see the biggest detriment to the classic car hobby the HUGE auction houses and their equally Huge commissions. Maybe people are wising up and realizing that they could pay significantly less for a similar car having equally good condition and provenance, but purchased from a private seller. While I appreciate the auctions being televised and bringing the hobby to the masses, it also makes me cringe hearing that a "flip artist" just made 200% on his investment. This truly inflates the value of the classic car market, and I fear that it is going to create another bubble that will leave the hobbyist reeling while the investor rakes in the dough. The high cost of the auction houses also discourages younger hobbyists due to the huge entry cost to get into the hobby. Auction house record sales tend to encourage an increasing number of "fakes".
  • 29
    Dave Abel Reno,NV August 13, 2014 at 19:33
    Well I can tell you that at the recent Hot August Nights/Barrett-Jackson Auction in Reno; there were some cars selling for well below market prices.
  • 30
    Kerry D maryland August 13, 2014 at 19:34
    I see the biggest detriment to the classic car hobby the HUGE auction houses and their equally Huge commissions. Maybe people are wising up and realizing that they could pay significantly less for a similar car having equally good condition and provenance, but purchased from a private seller. While I appreciate the auctions being televised and bringing the hobby to the masses, it also makes me cringe hearing that a "flip artist" just made 200% on his investment. This truly inflates the value of the classic car market, and I fear that it is going to create another bubble that will leave the hobbyist reeling while the investor rakes in the dough. The high cost of the auction houses also discourages younger hobbyists due to the huge entry cost to get into the hobby. Auction house record sales tend to encourage an increasing number of "fakes".
  • 31
    jeff NorCal August 13, 2014 at 19:47
    The rich get richer, and us working folks are being squeezed out of the classic car market. I've been forced to sell two classic VWs and my Mercedes wagon just to survive over the past couple of years. My VW convertible I had restored over the course of 10-plus years. I don't think I am alone either.
  • 32
    V. Bogdanow Canada August 13, 2014 at 21:27
    With Your economy in the HOLE & no jobs, how can anyone afford an expensive collector car?
  • 33
    Fishman NY August 13, 2014 at 23:07
    I think it's a top-heavy pyramid. There will always be people with (excessive amounts of) money that will buy homes in the Hamptons and put $1m+ cars in their garages. It only takes a few at the high end of the price range to skew the resulting numbers. For the rest of us, we are staring at an economy that has been propped up by constant federal quantitative easing (creating inflation, we haven't seen anything yet), lower labor participation rates than we've had since the '70's, and more people under-employed than can be accurately counted/reported. Lack of home equity (typically the #1 way a family "saves money, or acquires wealth) is still haunting a fragile housing market (e.g. drive around your town and look at the abandon properties. The area around me has them on every street...) All of this haunts "normal" buyers and I believe will continue to put downward pressure on prices for the foreseeable future... We've created a financial house of cards in the US with the monetary policies we embrace, I think the chickens are coming home to roost. I'll continue to enjoy this sport because it (restoration, and driving) is a labor of love. I hope we don't get stung by all of the above, but if we do? I'll still enjoy driving the old truck around...
  • 34
    Steve L Harrisburg, PA August 13, 2014 at 23:25
    There's some misinformation in this article. While Auctions America didn't conduct the Spring Carlisle there was an auction at the event. The auction was run in house by Carlisle Events and by all accounts it went as well as any Auctions America event. One of the advantages of living in Harrisburg, PA for a car guy is the wide variety of car shows and events. A dozen or so Carlisle Shows, Fall Hershey, the NHRA Eastern regional in York, and now Mecum Harrisburg. The Mecum auction not only surpassed all expectations for attendance and sold a whopping 74% of the cars on the first day. The best first day for a new event Mecum has ever had. Slow down? I don't think so.
  • 35
    1975 CHEVY MONZA Santa Clarita, CA August 14, 2014 at 01:40
    The big auctions don't really have much effect on the eBay and Craigslist prices. Oh yeah, there's the old lady who thinks her 4 door Chevelle is worth 500K because she saw something on TV - but outside the millionaires and dealers at the big auctions - there are the regular car guys and gals who have limited purchasing power and no one is going to buy a rusty 76 Camaro with an engine bay full of leaves for 50K. There are still good bargains out there for those who have the patience to search and some good cars that aren't "classics" that are cheap to buy and get parts for.
  • 36
    Mark Georgia August 14, 2014 at 14:27
    Ha..ahhh.. as a baby boomer, I started collecting my cars over 30 years ago. I still have the 57 Nomad Wagon my Dad brought home when I was 5. Just sold a 65 Porsche 911 at a 450% profit - now I did hold it for 30 years... I am wondering now, what are the cars to collect and put away for my grandchildren ? Nothing really excites me.
  • 37
    Chris West Palm Beach, FL August 14, 2014 at 02:36
    I have been noticing a correction that is good in my opinion. True, rare, or important cars continue to increase in value driving the records and the excitement and making "car as investment" legitimate. The cars in the category described above have lagged behind art and rare collects less too long. These are cars like the Ferrari GTO, the L88 Corvette and the Porsche Speedster. On the other hand the more common but storied models which were priced out of the hands of normal car lovers are back in reach once again. These are cars like the Jaguar XKE the Non-hemi Cuda and the Pontiac GTO. Furthermore the good car of today is much better and faster than the great car of yesterday, and, if bought slightly used is bargain priced. I, personally like the place where the market is.
  • 38
    Chris West Palm Beach, FL August 14, 2014 at 02:41
    I have been noticing a correction that is good in my opinion. True, rare, or important cars continue to increase in value driving the records and the excitement and making "car as investment" legitimate. The cars in the category described above have lagged behind art and rare collects less too long. These are cars like the Ferrari GTO, the L88 Corvette and the Porsche Speedster. On the other hand the more common but storied models which were priced out of the hands of normal car lovers are back in reach once again. These are cars like the Jaguar XKE the Non-hemi Cuda and the Pontiac GTO. Furthermore the good car of today is much better and faster than the great car of yesterday, and, if bought slightly used is bargain priced. I, personally like the place where the market is.
  • 39
    robert walton chelmsford,Ma August 14, 2014 at 03:23
    There will always be a market for the #1. I have found the younger (under thirty) group are just not interested. The baby boomer set in their spare time always made it car time. The youth of today no longer have "shop" classes in High Schools hence basic learning of sockets,phillips heads etc. is no longer common knowledge. If you can't fix it becomes a very expensive hobby. The new generation does not want to buy a house,never mind work in a garage.
  • 40
    Luke Colorado August 14, 2014 at 15:33
    It's hard not to be pessimistic these days. Lots of factors threaten the hobby, but they aren't all econonomic. Certainly the high prices at auction dissuade people from collecting or even restoring because those prices make it look like a "rich man's game." But few kids these days have even a rudimentary knowledge of tools, much less knowing how an automobile works. What's more, even if one has that knowledge, making power from newer cars (that are more available) usually violates emissions standards that are getting tighter every day. As a kid, we could "drag main street", but that's been restricted or eliminated even in small towns. American society tells kids that without a college degree, one is labeled a failure and will never succeed, so doing anything with one's hands is discouraged. Drag strips and race tracks are disappearing, so legal racing is tough to do, and cops give crippling tickets for it that could cost one their license. Park your project on the street for even a day and the Homeowner's Association calls the cops! Going to the drive through in your classic puts a target on your back if anyone can even hear your exhaust. Crusher programs and the high price of scrap iron are sending more cars to their demise daily. It is becoming a rich man's game, I suppose. And the auctions might drive up prices a bit for that junker in someone's back forty. But to have anyone still interested in preserving cars is important. To have a televised auction that makes a few more people support the hobby is good. The auction is only one facet of the hobby, and it only represents the highest level of collecting. Thank goodness it still goes on, because we need everyone possible to support the hobby--even the rich guys.
  • 41
    Jerry Iagulli Ohio August 14, 2014 at 07:47
    The market will vary up and down with the economy but the top end starts waves that lift all of our boats, i.e., Mercedes gull-wings hit astronomical prices so the 300SL roadsters start to top $1M. The guy who can no longer afford the 300SL buys a 190SL 'cause it looks close to the same, they start to hit mid six figures. That gets people looking at the w113 230/250/280 SL's which start to hit high five figures and that brings up the R107 SL's. The guy who no longer can afford an Alfa Romeo Giulietta spyder buys a Duetto, and so on.
  • 42
    Jerry Iagulli Ohio August 14, 2014 at 07:48
    The market will vary up and down with the economy but the top end starts waves that lift all of our boats, i.e., Mercedes gull-wings hit astronomical prices so the 300SL roadsters start to top $1M. The guy who can no longer afford the 300SL buys a 190SL 'cause it looks close to the same, they start to hit mid six figures. That gets people looking at the w113 230/250/280 SL's which start to hit high five figures and that brings up the R107 SL's. The guy who no longer can afford an Alfa Romeo Giulietta spyder buys a Duetto, and so on.
  • 43
    Rich RI USA August 14, 2014 at 11:14
    Yep, the big investors are the ones driving up the prices, that, TV, the never ending car restoration TV shows etc. As a nearing retirement boomer my plans used to include collecting and possibly restoring a couple of old English cars. Now I am leaning to just getting into some sort of different older car and keeping it running well and as a fun travel driver, think old Volvo 240 wagon, maybe an old Peugeot 403 or an old Chevy truck. No more thoughts for an E-Type or even an old TR-3. As the prices rise, my interest wanes. These megabucks collectors just don't for the most part even care what they own, just how much it'll make for them during the next auction circuit. The fun is nearly gone.
  • 44
    Marvin New Jersey August 14, 2014 at 23:23
    I agree with many who have said that the car auctions has increased the price of many desirable cars. But also it is hard to sell cars to many people who like to buy them "well bought" or considerably less than they are worth. But, people outside America are snapping them up a la "Wheeler Dealers". A not so funny thing happened to me and a friend within the last year. The owner of a 1968 non-numbers matching dis- assembled Mustang fastback with a rebuilt engine and a 4 speed wanted to sell it. Within a week the price went from $7-13K to $25k. the first price range wasn't bad but when we returned with the money he jacked the price. Needless to say we didn't buy it. Recently he sent word to us that the car could be had for $7-8 k with all the parts. As desirable as that model is we both said "Thanks but No Thanks"
  • 45
    Charlie DeMauro. N.Y.C. August 14, 2014 at 11:31
    everyone likes to buy cheap & sell high, the trick is to buy what you can afford and drive the wheels off it. Most of all have fun in your car.
  • 46
    charlie New York August 14, 2014 at 12:16
    buyers will pay if they realty want the car, I have a 67 shelby GT350 all matching #s since 1982, I'm not going to sell it for what I Paid. I can have fun driving my copy shelby, and not worry about scratches. If you work hard you can get anything you really want. Even my shelby for the right price. when cars were less money so was our salarys.
  • 47
    Andy Sacramento, CA August 14, 2014 at 00:51
    I agree with Fran. The old car hobby is being destroyed by the big investors mainly because what they are paying is severely inflating the prices of cars to unrealistic proportions. I used to pick up 66-67 Nova's for $500.00 all the time. Now they've passed to asking prices of many Vettes. It's a NOVA, not a HOUSE! These televised auctions don't help because people watching see a 62 Impala SS 409 convertible sell at auction for a hundred grand and so they think "Wow, that must mean that 62 Biscayne 4 door sedan we've had sitting in the back field since 1979 must be worth at least ten grand. Maybe more if we put the motor back in it that's sitting on the ground next to it." Give me the old days when a teenager could still buy a Camaro or a Mustang without having to get a law degree first.
  • 48
    Andy Sacramento, CA August 14, 2014 at 00:52
    I agree with Fran. The old car hobby is being destroyed by the big investors mainly because what they are paying is severely inflating the prices of cars to unrealistic proportions. I used to pick up 66-67 Nova's for $500.00 all the time. Now they've passed to asking prices of many Vettes. It's a NOVA, not a HOUSE! These televised auctions don't help because people watching see a 62 Impala SS 409 convertible sell at auction for a hundred grand and so they think "Wow, that must mean that 62 Biscayne 4 door sedan we've had sitting in the back field since 1979 must be worth at least ten grand. Maybe more if we put the motor back in it that's sitting on the ground next to it." Give me the old days when a teenager could still buy a Camaro or a Mustang without having to get a law degree first.
  • 49
    Diane Bakersfield, CA August 14, 2014 at 12:56
    Good cars are still available at reasonable prices. I just bought a (running) '69 Chevelle and a '74 Nova as a package for $4000. I am slowly (I'm a widow on SS) fixing up the Chevelle, but am still able to go to shows and show in "Under construction" and "Stock" classes. The Chevelle gets attention from the young and old alike. I enjoy my car. I didn't buy it as a investment, although every penny I put into it would be much easier to recoup, than money put into the newer cars. AND, I can do a lot of the work myself. People with the newer cars now adays, have no choice, but to have a shop work on them.
  • 50
    Erik J. Capistrano Beach Ca. August 16, 2014 at 22:40
    Looks to me that what is on the rise in the market is the small percentage of American Classic unmodified pick up trucks. I see more of them in the auctions , and more are definately showing up in my area. Seems like people want em box stock now, and they will continue to become more popular. I am hanging on to my 1949 five window 1 Ton GMC. farm truck it's doubled in value since I bought it exactly 10 years ago.!
  • 51
    Dave Huntington, NY August 19, 2014 at 07:29
    I agree with a few of the folks above who feel the hobby is negatively impacted by the pure "speculators." Affordable cars is what will keep the next generation, the American youth involved. How is a teenager now ever going to afford a big block Chevy or Hemi Mopar? That being noted, I haven't seen an uptick in the lower end or entry-level cars like notch back Mustangs and base model Camaros over the past few years.
  • 52
    scott w oslo, norway August 22, 2014 at 09:26
    one of the more interesting points to note off the back of this tear away market, is that the industry has spawned numerous new businesses in the shape of specialist suppliers,bodyshops trim shops etc for our obsesive "hobby" . I have recently visited the Essen Motor Show in germany and was amazed at what was possible to do now as far as restoration was concerned, that only a few short years ago you would have to look far and wide for the same. In addition, the support market must be very competitive. For the average man with a reasonable budget of say up to 35K it does not really matter now too much what condition the vehicle is in. If you cannot afford to overhaul a vehicle immediately, just sit on your pride and joy until this market continues its move north when the vehicle value justifies the spend. From a european ,it feels as though this market is far from flattened out
  • 53
    Paul Englishtown NJ August 27, 2014 at 22:15
    Andy after that law degree the are in to much debt already
  • 54
    Tim Mich. January 14, 2015 at 17:48
    After watching the first night of BJ Scottsdale, bidders are way out of line. Many were 40% or so too much. They must equate the TV/Stage time with value. Good luck on any resale.

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