Hot Rods What is going on with old car prices!!!!!

Wow I never realized how many people would voice their opinion on the prices that old cars, and street rods are selling for.

My wife tells me each day that I am no longer in touch with prices but when I watch the car auction shows I find myself thinking some one must really need the money to sell their dream car for the prices I see them selling for.

I know it's been true for years that you can buy a car cheaper then you can build a car but watching what's going on today is really crazy.

Just my opinion. Jimbo

 

I don’t think the big car auctions like Mecum and Barret Jackson are a very good indicator of true car pricing. Too many deep pockets with big egos that see those auctions as a place too be seen, show off and try and prove to others they can buy anything they want rather it makes sense or not. Unfortunately the small auctions probably are are more representative of true car pricing but rarely have selling prices publicized.

I do think cars from the 30’s 40’s and 50’s are seeing prices go down as a result of less interest. Go to any large car event and the cars from that era are dwindling. Sure there are probably exceptions. The guys who own those cars are the gray hair/gray beard like myself who grew up loving those cars and still do. Unfortunately the owners like the cars are dwindling.

I think the most active group is probably the cars of the 60’s and muscle cars from that era. But now it’s also cars from the seventies and eighties. As someone else said people want to own cars from there youth. That group probably are in their fifties and after raising a family have some extra money coming in now to play with. That group will go the same way as cars from the 30’s, 40’s and 50’s as the owners age.

While guys my age were impressed by the drag cars and cars that accelerate quickly the younger guys of today expect more. They want cars that are fast but also handle well that possibly they can drag but also use on road courses. Track days are very popular. That’s why they like the new muscle cars like Camaros, Mustangs, Dodges and Corvettes. Probably not HAMB friendly but you also have to include the Europian and Japanese performance cars.

Kids today are just not impressed by cars as my generation was. Cars today for the majority are just appliances to get from one place to another. A lot believe no one should own cars but just rent or pay a fee when needed. The car hobby is in for a big change as we get further and further away from the hands on hobby we care about. I try to encourage my grand kids and they have some interest but not like I did. I’m sure there will always be a small percentage that care about modifying or building cars but it will be different from what we all know.

 

"...As someone else said people want to own cars from there youth."
Or, as an old friend and car guy explained it "we all want the kind of car we first got screwed in."

 

That is probably a lot more true then most of us would like to admit!

 

I've never had a burning desire to restore an old oak slatted park bench.

 

That's not really their belief, that's a reflection of reality. New cars are expensive, not only to purchase, but to operate, register, insure, maintain, and repair. In large cities parking costs alone can exceed an apartment rental in much of the country. Little wonder they aren't impressed nor interested in even getting a driver license.

 

Wow, just read this entire thread. I am 66. I'm already registered for the 50th. Street Rod Nationals. I am not a pessimist. I am a realist. I will spend considerable time not just noticing prices but also paying attention to what is really selling. I participate at the low end of the food chain in this hobby. I believe "opportunities" are coming.

 

Prices are crazy. Most of the cars I see advertised are Rusty junkers found in the woods and have no engines, no wheels, no glass or upholstery or paint and they are priced from $1500 to $5000. Stupid

 

That's funny as hell right there!

 

If the price on old cars is falling when will the price of parts follow?
Parts are crazy priced!

 

You forgot to add "no title" either.

 

My grandson just turned 18. He is a motorhead, we trained him well!

He comes by my shop often with the guys and gals he hangs around with. I can tell you for sure, most of these kids (boys & girls) think the old cars are pretty cool. Some really would like to own one, but they think they are too expensive, to complicated (younger guys think carbs and point ignitions are complicated), and are too difficult to drive (If you think your carbed ride is as easy to drive as a modern efi car, you need to drive some of the newer stuff). They also know finding someone that can work on them, or teach them how to work on them, is a difficult prospect.

None of them, including my grandson, have the ability, knowledge, or the tools, equipment, or the room to build one, if they could ever afford the up front buy in. There are very few people that would or could actually teach them how to build a car. The days of the corner gas station that works on cars is long gone, and most of the guys that know how to repair them, think they should be paid big bucks to teach them, As far as most young people are concerned, they think us old car guys are a bunch of grumpy old men, harassing them every time they do or say something we think is wrong.. What we have are a bunch of perspective want to be owners that know they are not in a position to do anything right now, so they show little excitement, and we still criticize them!.

If, and when, reasonably priced driver quality cars start showing up, many of these kids would jump at a chance to get one, provided they can find someone that will, or would be willing to help them fix it when it breaks.

Most of us have been around old cars all of our lives, we forget how much the times have changed, and we have little idea how much of a challenge owning an old car is to the younger people in this day and age. The car prices have to drop, the parts prices have to drop, and us old car guys need to be more kind to the young guys. Gene

 

I have to agree very few of the teens are interested in old relics. I offered to spend time with a grandson that had some interest and all he needed was to show up and we would build him a car. This was a no cost to him. I have a few projects and 30's/40's/50's and told him I would work with him and explain everything and what I didn't know would get someone to show him. The boys never took me up on it (5 grand sons) I now have 2 great grand sons 5 & 8 and hopefully one of them would have some interest.
As far as prices parts are high and I rarely need anything but buying a project would be cheaper with a complete car than a shell.

 

Really? I'm in!! I'm axiously awaiting the Duesenberg sedan for $100,000.

 

You make very good points here, but inflation of both $$$$ and the population are driving forces (no pun intended). When I was dreaming of "that car" it was more like a big block something or other, but I had an itch for a 36 3W too. The dream of all dreams was a 67 or 69 L-88 Vette. Just as un-affordable for me today as it was back then (especially the 67!). In my early days I couldn't imagine the independence and financial smarts to EVER have kool stuff. I've flipped hundreds since then and have a small stash of stuff that both makes me smile and may get sold as time marches on. Now some jobs are approaching 6 figures a year for youthful types when in my day $50K/yr was almost considered rich. And frankly, all this angst about prices is like a weather vane. One topic decries how expensive everything is and how folks get "priced out of the hobby" because of it. The next topic (like this one) laments how we're all dinosaurs and nobody wants it and prices ain't shit and, well, you get it. If one can really say screw the price and get what they want, buy or sell, then what's wrong? Most good honest shops have more work than they can do and very few candidates to put in place to do said work. Yeah, times are bad. NOT...

 

As far as the younger kids looking to get into the hobby goes, having space and tools is the biggest thing. I could afford a $1500 project in high school/college, but if it weren't for being able to work in my dad's shop or the car club shop i wouldn't have been able to afford all the tools and space.

A friend of mine asked how i could afford multiple old cars. I asked him what kind of car he drove. A 2017 Ford Taurus. How much is the down payment? $3k. With a monthly payment of $300 and $200/month insurance, you could buy a 2000 daily driver for $1500 and have a car that's paid for, plus have $1500 for a project AND $400/ month old car budget to put into said project.
When you're done in 5 years (approximately 20k spent) you'll have a car worth 20k instead of a car that has depreciated 20k that you're still paying for.

I think a lot of younger folks don't understand the math behind a new car. I will NEVER buy a car/truck newer than 10 years old/ 120,000-150,000 miles on it. Cars these days are good for 250k miles, so use them!

 

...um, if you change your mind, I have 9 different styles of park benches here "needing wood". I'm serious...lol
.

 

Thanks, Frank, I'll keep you in mind. I appreciate you thinking of me.

 

F&J said: ↑
...um, if you change your mind, I have 9 different styles of park benches here "needing wood". I'm serious...lol

Thanks back...Um, Er...for your old avatar...the one with the pink dress.. Talk about "needing wood?" LMAO

.

 

I just read this 3 times and i'm still quiet sure how you meant it but I'm still laughing my ass off.

 

Several things come to mind:
A bit controversial, but when you ostracize people from "our group" who think differently than you do it makes your circle a bit smaller.
Way back in 1986 I started the Tidewater Mopar Club after the old Chrysler Muscle Car Owners club went belly up. The old club only allowed owners of V-8 powered 2 door rear wheel drive muscle cars to be members. Period. No trucks (Lil Red Express? Nope!) or Slant 6 versions of the identical car (69 Dart, mint condition, garage kept little grandma car with a Slant 6? sorry pal!) No C-bodies ('70 Fury with the 440-4bbl... Go home!). When I started the TMC I allowed the owners of ANYTHING that was ever sold at a Chrysler/Plymouth/Dodge dealership to join. Yes, we got a lot of Slant 6 cars and some pickups, and a handful of 4 door cars and even a few Shelby FWDs in there. Of course we also had the snobby Hemi car owners and the "ultra low mileage original" snobby car owners, but the one thing that MOST of us had in common was FUN and helping each other out. My point is - Granted, this is YOUR website/forum and you can keep "in" or "out" whomever you want, but when you tell the r*t r*d guys that they aren't welcome, and the gals who can't afford the $75K "absolutely 100% period correct" Kustoms, then you likely will see a decline in participation and prices in your area of the hobby.
Sorry if I seem to be criticizing, but how do you think that a newcomer sees the HAMB? If he doesn't know all 967 rules for his/her car to be called "traditional" do you think that he's / she's going to stick around long enough to buy one of your cars or trucks or after he/she is flamed a few too many times for not being "traditional" enough?
The older that I get, the more that I just want to have a little FUN with my cars and trucks. So what if the carburetor floats aren't the correct date code for an "all original" car, and if Milner's hot rod had chrome wingnuts on his air cleaners vs. my brand new cadmium plated acorn nuts...
The younger generation is interested in cars, for sure. BUT they are also interested in technology, handling, creature comforts, and yes even "fuel economy". My "car-guy" nephew used to love riding in my 71 440 powered Road Runner, but he also loved his tricked out FRS because he can drive it to work with the AC on and get 20+ mpg AND it'll go around the 90* corner at the end of his block as if he were on rails. He doesn't care what other people think is "correct" on his car (but he will try to "fit in" of course and won't do anything too outrageous or out of character).
.
Bottom line: expand your horizons and while you wouldn't necessarily BUY or BUILD a r*t r*d, if you got to know the OWNER, you might find that you have a lot more in common than you might think. One man's opinion, but loosen up and ENJOY the hobby a little more!

 

I have been a Deuce guy for a long time and I'm still waiting on the prices of to drop, I'm sure it will happen eventually but I won't be alive 50 years from now. HRP

 

FWIW-----Went to a family Thanksgiving in Georgia, 700 miles from home. My son in law (who lives in Indiana, not far from us) flew his brood down and rented a Cadillac at the Atlanta airport, Beautiful black car, 4 door (I think it looks like a new Chev. Impala). He says Dad, you gotta take this car for a ride---A HARD RIDE. So I did. Of course it was gorgeous---It's a new Caddie. But DAMN, this sucker could turn in the 12s or 13s, its that fast, and handles like GO KART!!!! But incredably SMOOTH!!--- Yea, I know, don't even go there. ---But I can see how a young guy with a well balanced, good running tuner, thats FAST and HANDLES very well----just doesn't get it. They just can't warm up to nice clean, well done, 32 Ford or a (pick one) 60's muscle car. It's just a very nice old car, maybe with upgraded old technology, but it just doesn't ring the bell. It doesn't change MY mind and I'm not about to turn TUNER----But I can see their point. Bill Rinaldi

 

My old cars are one thing but I've been waiting for one of my children (not going to happen) or now grandchildren (almost had one) take up the guitar so I could give them my dads 1939 Drobro... Still hoping and still have a chance....

 

The McMullen roadster is going on the block next week at Mecum. In 2012 it sold for $700K. Will be interesting to see what it goes for next week -- and this may give us a hint as to where the market is at.

 

So far things are right on track for what I think will happen. Notice our financial sector making it's own "adjustment"? As that becomes less attractive the tangibles wake up. Once again, don't take my word for it. Track both and note the trends. I've noticed this since the early 80s and it's a constant. And as always, the safest bet is BUY WHAT YOU LIKE. When things get soft again (and they will) my poor ass will be "stuck" with a 39 Ford Std Tudor hot rod that's not for sale any time in the near future. Probably stuck with a 65 GTO too. Yeah, poor me, stuck with em...

 

Out of my 3 collector cars the only one that hasn't flat lined is my early Bronco. For some reason people are loving these little utilities. Early Jeeps, Land rovers, Land Cruisers but especially the Broncos are gaining about 15-20% per year.

 

Well spoken. I built my '31 for me. I built it with money that was outside the family budget-home, health kids education,etc all came/come first.It took 15+ years. I don't expect I'll ever recoup my investment. I don't care.