Projects What the heck happened to asking prices??????!!!!!

The price to build a driving starter project will make you sick.

Good Machine shops are dropping by the dozen.... many won't work on iron heads... Every one man operation is a just a blink away from gone. I'm now driving 100mi to a decent machine shop.

Body work is $$$ , price a paint job at body shop, 80% won't touch a vintage car, those that do... good luck.

Aftermarket parts up 40%, 6mo back orders...

.... add it up cheaper to buy car that was restored 10yr back. Yeah built is better... but time is $$ and its running out.

 

^^^Agree with this. No parts etc etc. Paint around here is very expensive and most places only do insurance work.
All mine were painted by my friend but he is over 80 with some health issues and slowing down He has a couple of 40's in progress with all the parts and bodies painted etc-new glass, trim etc. and can't get any interest-2 coupes and a sedan-nice cars. His asking price is less than what it would cost to get one painted! At 79 I don't have the time to wait for a year if I were lucky to get one painted locally much less finding all the parts. I have lots of parts stashed(grilles,dashes,trim,gauges etc) and have considered getting rid of them but can't pull the trigger.

 

Last time I checked, hotrods were still a hobby and hobbies by nature are created for enjoyment. If prices (either way) are causing you to not enjoy a hobby maybe it's time for a change. Cost should never be a topic of conversation when dealing with a hobby. If you paid too much, it's because you wanted it. If you sold it too cheap it's because you didn't.

 

The best deal is when both parties are happy....

 

I saw this at a swap yesterday. Maybe not a bad price all things considered, but out of my range for sure. 32 steel on a mocked up chassis, repop frame. 22K.
I’ll be in the shop working on my beater A-bone

 

A friend just picked up this '32 with the frame for under a grand...deals can still be found

 

^^^^ now that’s a far more reasonable/ realistic approach, that other one is ludicrous in my opinion. While it has suspension, steering, ? Motor,while it seems a good grill can be stupid money I cannot get around the price asked no way , nohow.

 

1. Value of 1980 dollars today | Inflation Calculator
   www.in2013dollars.com/us/inflation/1980
   The U.S. dollar has lost 71% its value since 1980 Updated: April 12, 2022 $100 in 1980 is equivalent in purchasing power to about $348.91 today, an increase of $248.91 over 42 years. The dollar had an average inflation rate of 3.02% per year between 1980 and today, producing a cumulative price increase of 248.91% .

 

I've seen that show. Used to have a smaller local yard that had a lot of '50s iron in it, I got lots of stuff out of it. I'm in there one Saturday and a guy comes in and asks if he has any '57 Chevy side trim. The owners says, yeah, probably, you'll have to go look. How much the guy asks. Bring in what you find and we'll talk. So the guy goes into the yard and comes back with a full set, both sides of 2-dr stainless side trim, maybe a few other small parts. The owner looks it over (this stuff is very good, looks like just very minor repairs and a good buffing is all it needs) and says $250 for all of it. The buyer gets belligerent of all things, says it's not worth more $100, that's highway robbery, do I look stupid, etc. The owner says $250 again, the guy starts up again. The owner bundled the trim in both hands and bent it all in half over his knee, whoops, it's no good now and no longer for sale and by the way get the hell out. Same buyer comment as he's heading out the door... Do you know what that is worth?

The really unfortunate thing is that wasn't the first time, but did prove to be the last. Next time I went, all that stuff was gone to the crusher, the owner said he was tired of a-holes thinking he was stupid.

 

That’s more than a deal for a 32 coupe, it’s essentially free. Your friend should be playing the lottery.

 

That black 32 seems like a pretty reasonable deal to me compared to the absolute garbage being advertised on craigslist, etc. Today people are listing 1960's 4-door sedans for 10 and 12k. "They know what they got". It will be interesting to observe where pricing for the many undesirable cars and projects falls as the economy continues to contract over the next several months.

 

In my opinion which may be totally of the mark it is not the asking price that is the problem. the asking price is a symptom of a much larger problem. A big chunk of society has become so wrapped up in the "I am entitled" and "I worship money" bullshit. They have reduced everything in their life to a dollar value. If they walk into a shed they don't see car parts, they see x thousand of dollars worth of stuff. If someone is driving around in a cobbled together car they is judged by a lot of people for not spending the money to put a good paint job on it or nice interior. The don't notice the smile on their face as they enjoy life. FFS this is meant to be something in our lives that makes us happy. Why work 80 hours a week to get the money to keep up with the in crowd. Mix with a circle of friends that value helping a mate more than how can I get more money. Get back to basics. I have often seen the comment, he who dies with the most amount of toys wins. I can probably guess my opinion on that statement. I would say end of rant but there is so more I could say but it is probably best to leave this here.

 

i agree and understand why sellers with close to perfect original unrestored cars or perfect cars want big money...
i cant complain. that's a rich mans game and i aint in that club.

what really drives me nuts is people who want 2 door price for a 4 door?!

and yes i understand inflation and supply & demand but the last 3 years ive been seeing people asking the price of a driveable or maybe tow home and fix the brakes for a car that is really a parts car.

rusted, wrecked, missing parts. from the 50s or 60s no title....thats not a project. that's a parts car.

 

The chance of finding another 32 five window and frame for a grand seem unrealistic to me. You will be outside looking in to this hobby if you wait for that deal to roll around.

 

I agree. I'm pretty cheap myself and I love a bargain, but life is short. The years you might have to wait for some market crash that might not come around are the years you could have been spending building your dream.

The guy who is ONLY interested in buying something that's way cheaper than what everyone else is paying, is just as fixated on money as the guy trying to get way too much.

 

Mike, The perfect example locally is when Nick Alexander sold most of his Woodie collection. Prices tanked after that and I think are still down. It was then I could afford one, still not "cheap" but doable....

 

I love capitalism
Even the bad.
Could be worse. We’re enjoying a hobby on a message board, not hoping we find scraps in a garbage can.
Anything is worth what folks are willing to pay.
Looks like folks are willing to pay more these days

 

When I sell at swap meets.. the cast iron doesn’t come home. You can move it down to your sales spot for all I care and load it. Aluminum might come home. I wouldn’t have loaded it if I didn’t want to sell it..

 

Prices are going to drop .

Money has been cheap for a long , long time .

interest rates where 1.9 %when I did my last mortgage.

2.5-3.5 %right now .


Interest rates at work to lease new equipment is almost 7%

I posted about a year ago how I see a bunch of high end big dollar restored cars popping up ( six figure high end restorations or hot rods)


People are way over extended, looking for an out and hoping to cash in .


Old cars are toys , you need to be one dumb sob to leverage your house , saving etc . On a hobby .


Inflation and interest rates are going to have pricing come crashing down .


The housing market is leveling out right now up here ( prices are still nuts but not on a rocket trajectory the last little bit )


Lots of cars for stupid money starting to show up , along with boats , jet skis , campers , Harley’s and sport bikes .

easy to let go of toys when you need money to put food on the table .



prices are nuts , but what I see with inflation snd interest rates just in the last month , the bottom is getting loose before the crash .

 

After reading seven pages of this, all I can say is...blah blah blah blah blah.

Seriously, though.....

I'm 62 years old, and have been screwing with cars since I was 14, and buying and selling parts for almost as long. The $10 profit I made from a N.O.S. pair of '56 Chevy fender skirts when I was 16 represented 20 gallons of gas. I've always financed my hobby by selling what I don't need and keeping what I do. Yes, I'm an evil "parts flipper", and should probably be sent to Siberia. Guess what? If you'd rather drag YOUR ass out of bed at 3:00 a.m., drive 200+ miles to a swap meet to be there when the gates open at 7:00, walk around in the sun all day (if you're lucky) or rain and mud (if you're not) looking for deals for both yourself and saleable inventory with results varying from success beyond your expectations to bitter disappointment rather than pay me for something you need for your project, then go right ahead. I hit around twenty swap meets a year, and have yet to see one that makes you fill out an application to be approved before allowing you in. Anyone with the admittance fee can enter the playing field. Yes, there are lots of people who are asking what appear to be outrageous prices for things; there are also still plenty of good deals to be had. This past Sunday, I went to a local car show and bought a pair of complete and free moving secondary carburetors from a 348 tripower for $20.00. No negotiations involved; that's what he asked and that's what I paid. A lot of people who wax nostalgic about what car parts cost forty years ago tend to forget that they were also making a 1982 wage at the time. It sounds good to talk about the Pontiac tripower setup I bought for $50.00, but I was making $100 a week at the time.

All I can say about finding "deals" in these trying times is that KNOWLEDGE IS POWER. Know what you're looking at, and know what it's worth. Any large swap meet is going to have a large price range on any given item. Yes, if you're looking for a Nicson valve cover for your 235, you're most likely going to have to just pay up or give up; however, for most items, if you keep looking , you'll find something for considerably less than Barret Jackson prices. Like others have already said on this thread, if you don't want to put in your own time and effort to find the best deal, then don't bitch about having to pay the price to someone who has. Don't want to raise and butcher your own cattle? Then pay the grocery store's price for steak.

I've paid $20 for nice, clean Edelbrock carburetors, $20 for a '55 Chevy 265 4 barrel intake manifold, $25 for Hurst four speed shifters, $50 for Saginaw four speeds, $60 for a Cad/Lasalle sideshift three speed, and $125 for a Weiand 3X2 intake for and Oldsmobile 303 that looks like it's never been installed at swap meets THIS YEAR, not 30 years ago. A lot of the shit's still out there, if you just take the time to look, and know what you're looking at....and, again, that means being one of the first through the gate, not moseying in at noon after I and everyone else already snapped up everything affordable.

 

Well said!

 

if you want a deal seller & buyer just have to be in the right place at the right time & the right price - happens every day somewhere

 

That's correct. For all of the bargains I've scored over the years, I've been five seconds too late on just as many.

 

You want some real deals... check with Body Shops putting in LS swaps .. bargain eng prices all day.... take out $700 402 bbc CST 1970 eng. Put 240 miles on it Sunday... runs like a sewing machine.

 

And...then there's the rest of the story...SELLING. Those are only good deals once they are SOLD. How long is your $ tied up until the "right guy" comes along so you can make a profit? Flipping parts on a large scale is harder than you would think. Hats off to you.

 

If you're a young person (say, under 30), then this is just a waiting game. Prices on all HAMB-friendly hot rods and customs will drop heavily in the future when interests wanes. Yes I know that there are new young people coming into the hobby all the time, but not in large enough numbers to buy up vast number of collectors cars out there. Prices for stock, restored pre-War cars have peaked and are coming down now. Even Duesenbergs don't sell for what they used to. Same will happen to hot rods and customs eventually.

If you're older, then you have to decide how bad you want it and are you willing to spend what they're asking, versus how much time you have left to wait.

Every month I read about a new private collection and/or museum collection being auctioned off. The original collector had the means and desire. His children/descendants are missing one or both of those things.

Enjoy the hobby with what you can afford.

 

Yes, demand for some of this stuff fluctuates like the stock market. On the upside, it tends to appreciate much more than the nearly nonexistent bank interest.

 

I agree with this 100% and would only add that the prices are already coming down on hot rods and customs. As for the private collections and museums being sold off, I'm noticing a lot of that as well.

I have a friend with a sizable collection of great 32-40 Fords, some stock, some traditional hot rod and customs. He has been thinking about donating his collection to a museum when he passes away for some time. He got quite a shock when he started talking to these places... In short, they don't want them! Museums are of course largely donation and admission funded. They have to "play to their audience" too.. and the audience for these bitchin cars seems to be getting smaller all the time. It's sad.

All of this means that the prices have been coming down for quite a while. I don't think the rug is going to necessarily be pulled out from under us (hopefully) but I do see a slow-burn of declining prices coming this way, at least to the point where it eventually plateaus somewhere along the line. We can do our part by trying to get younger people involved as often as we can. (I write about this and a lot of similar topics on my website and talk about it on my podcast often if anyone ever gets bored)

So, is it bad news for the hobby? Or "Good" news for those of us that are in it, since the declining prices mean more affordable cars? It depends on what angle you look at it from I guess, but I know a lot of guys just sort of "coming up" in this hobby are about to be able to afford some really great cars.

ironandsteele.com​

 

This spring a Model J sold for $3,525,000 at auction, and Hagerty's graph shows them appreciating a pretty good amount over the last 5 years, so not sure where you're getting that data from.

 

My old partner is a general contractor, does mostly baths and kitchens. He did a 5 by 7 bath for a client that
was over 20K, and told me he made less on it than he did on a similar 14k one he did the previous year. Plumber
gets 150 hour, and is overbooked. Electrician gets 125hr and is overbooked. My old partner is booked thru the
winter and is begging me to work with him on a couple of projects as he cannot get help. There are a lot of people
who have a lot of money and are willing to pay way more than I can.