I see a lot of cars for sale, has always been a hobby to check Craigslist, Ebay, the HAMB, and other classifieds to see what's for sale, sometimes if I run across a deal I know I can make money on I will buy the car just to flip it, may need some work, haven't done it a whole lot. Heck, some cars I bought I sold with no profit, I'm a sucker for projects, years earlier I had no garage to work on them. As I get older I'd rather swim in my pool than wrench on my ride, or take my Harley Road King for a ride. So lately my ad perusing runs across the same vehicles for sale, over time the seller drops the price, but not much, seems like a lot in the $15k to $20k range, and they're not selling, nice cars by the pictures. This may have been discussed, but what do you think of the hot rod/collector car market? Barrett Jackson made a bunch of people think they had a gold mine in their car sitting out back, it's funny when you see a rusty piece of junk for $2500. There is even a shorty 2 door 57 Chevy made from a 57 Chevy 4dr ht on my local Craigslist that some moron thinks is worth $4,000, just say no to meth! Some may be due to the newer generation that has no love for older cars, they were raised on rice burners and newer muscle machines, kind of like back in my day when muscle cars were king, and we didn't want anything older than a 55 Chevy. What's your thoughts?
Maybe I'm getting older and remember what cars used to go for? My last trip to Pomona swap meet I walked around and looked at at least 100 cars for sale. Did not see a deal or even a buy to be had... I check Completed Listings on the big online auction to see what stuff really goes for.
Too many of them looked like 'nice cars'. Customers of mine bought some to 'flip'...Non car guys, 'newbies'. Hung out at '50s Nite. Most of the 'nice cars' had some kind of sh!t bolted in for steering that interfered with the headers. (should have seen some of the headers!) And the rear trans mounts...and the brake pedal and lines...clutch linkage, sometimes even a cast iron powerglide. Never saw a 'high dollar' car that was worth it when you examined everything. Made me wonder who these 'builders' were.
From what I have observed the prices haven't really dropped much but nobody is buying. Craigslist is full of cars for sale but the ones I know aren't moving or even getting offers. I haven't sold at a swap meet in almost a year. There are always lots of people there but nobody really buying. I dropped prices to try and move parts and it really made no difference. When I have a new part that retails for $30, and I price it at $10 and have to beg for $5. it isn't worth my time anymore.
While there's always a deal to be found, Pomona isn't high on the list for making a "steal". Even 20 years ago, Pomona was what I called a bottom fishing hole. Even back then, there were guys asking 35k for cars that were barely worth 20. I used to wonder if I should consider it an insult or just laughable.
The guy i traded with had this listed for $3000 WTF!! i now have $125.00 tied up in it Yeah the market is in the toilet!
I see some turds go for coin on Egay. People will still pay too much for stuff it's just not as frequent
I did okay at the swaps I've done this year; I've had a few cheap bastards not buy after asking me about stuff, but for the most part the people with money weren't afraid to spend it. What kills me are the people who offer pennies and act like they're doing me a favor offering it; one of them I told them I'd throw away the item so no one got it before I'd sell it at the price they were offering.
Still a lot of BJDS (Barrett-Jackson Derangement Syndrome) going on with the local Craigslist. The $10K roller '55 Chevy 210 BODY is probably the worst one I've seen yet. Looks like the guy just dragged it out of the newly-dried-up creek bed. No glass, trim, interior, nothing! Oh, yeah, no title, either. Doesn't keep the whackos from trying, I guess.
LOTS of special interest cars on the auction site that don't get bid to half what their price was 10 years ago. But most don't sell.
In this world of barret Jackson and dumb tv build shows guys think pouring money into cars is an investment game. They pour tens of thousands into having shops building average cars and then when times get tight they list them holding out for a recoup on their wasted money......guess what dude, the money's gone and your car is just one of thousands out there.....spend money for the love of what your doing or build it yourself but don't think your making an investment.
Most of the buyers today are looking for low prices and expect a turn-key high quality built car. Even at Barrett-Jackson descent cars are bringing low prices. Even at good swapmeets projects are not bringing anything. A lot of it is the economy and alot has to due with the 80s,generation forward just don't know how to work on cars and are part of the new throw it away and buy a new one mentality. Don't get me wrong there is still alot of younger car guys out there but 75% are too lazy to work on something when they can have someone else do the hard part.
The cars we don't mention here are selling fairly quickly and the more crap you put on them the better the price
I have seen complete rusted out cars on trailers and when I asked what they paid it was around $8,000 dollars which I must admit I though was crazy. I did not attend the last Turkey Run show but the guy's did tell me there were people buying cars and in some cases reselling them the very next day for a profit. I think you can still find basket case cars out there where someone started a build and just ran out of money or steam that might still be a buy. Jimbo
Out here in California the swap meets are dead too. Like Rustynewyorker says, it's to the point if you have to give it away, forget it, it's a waste of time. I have made a couple of good purchases on some rusty cars in the past couple of years, of course they are the worst cars I ever started with, but like Patrick66 is saying, the BJDS (I love this by the way!) has got the entire world disillusioned on what their stuff is worth, and us actual car builder types are almost unable to afford to do what it is that we do! Typical of anything that involves money, the little guy does his thing, then big money, or corporate money thinks it's cool, gets involved, and the next thing you know the back bone of it is gone...... or out of reach of the people that started it.
I buy and sell at the Arizona auctions including B-J. Prices are down a minimum of 20% and I truly think they'll sink lower this year. Swap meets in my area are off closer to 30%. Good time to buy something though if the seller is willing to get waxed on his expectations.
I agree with the majority on this thread. BJDS and the economy have sure put a stop to alot of sales. Still looking for a fair market value deal, but I know that BJDS is the reason the prices are ridiculous.
Buyers set the values, not the sellers. Sellers can ask whatever they want. If it's priced too high, it won't sell. With the market down (like now) it is tough to accept losses but that's life.
I agree the market is down but for the people with the money they jump on the right car if it is what they want, forget about them re-selling it anytime soon they can afford it and will buy it. I also see cars that you cannot build/buy the parts for what they are asking and it still does not sell. It is a buyers market for sure and not just in the car market.
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