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History The market value of cars of our hobby and the future going forward?

Discussion in 'The Hokey Ass Message Board' started by Russco, Apr 26, 2020.

  1. Russco
    Joined: Nov 27, 2005
    Posts: 4,131

    Russco
    Member
    from Central IL

    I hope this doesn’t violate Ryan’s post about the Covid19 Stuff Because it seems it had started to me anyways well before. But it seems to me that the market on most old cars is really soft and going softer. I’m in the market for a new car or nice project but honestly what I’m seeing is cars that simply are not going to sell for what a lot of people are asking. The good deals do come up and sell immediately but but they are far and few between. I see many of the same cars for sell for a long ,long time. Is it me that only thinks it’s only going to get worst from now going forward. I had a decent chunk of cash set a side to buy a new project and had my hopes on a 60-62 Vette project or a decent driver condition car I could build to suit me, But I can’t seem to get one bought. I made a couple moves with my finances and kind of did ok over the last couple months but I am a bit worried now too with the economic state right now. I thought the market in old cars wound kind of reflect that same concern but so far I’m not seeing it. I’d like to hear your opinions as to what you think the future market will bring for our kind of cars going forward? If this violates the policy I’m sorry and you can remove ASAP thanks Mike.
     
  2. jetnow1
    Joined: Jan 30, 2008
    Posts: 1,533

    jetnow1
    ALLIANCE MEMBER
    from CT
    1. A-D Truckers

    It is like the price of gas- Price jumps at any opportunity, but is very slow to come down. Many have no immediate need to sell, so they figure they will wait till someone pays their price, might never happen.
    Some just need to come to grips with current realities, that sometimes takes a while of trying to sell
    without getting any action. Keep in mind the asking price is not always the selling price. Auctions on tv
    are not an indicator of value either, unless you are talking high end specialty cars.
     
    Cosmo50 likes this.
  3. As others have stated in other threads.. It is going to a buyers market soon, So just sit and hang tight something will come along that you are looking for.
    With that said I look at the ads everyday if there is something I just CANT live without or a part for one of my projects. The local crackheads list ads are starting to get more different ads in it and not just the same ol crap! Yes some people are asking good times deep pockets prices, But that will end soon.
    Good luck in your search..

    BTW 60 was my fav year Vette hope you find one, I know I wont in my budget but than again you never know..
     
  4. oldiron 440
    Joined: Dec 12, 2018
    Posts: 1,507

    oldiron 440
    Member

    There might be a few deals on finished cars as well if this goes long enough.
     
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  5. pitman
    Joined: May 14, 2006
    Posts: 4,918

    pitman

    The white '31 coupe that Midwest did, for Orange Cty's Paul Sr. as an example.
    (Updated, thx)
     
    Last edited: Apr 26, 2020
  6. Greg Rogers
    Joined: Oct 11, 2016
    Posts: 195

    Greg Rogers
    Member

    --It seems to me the only deals are when someone dies.... Sounds harsh but that's how it goes. Dad has a neat old car in the garage and a bunch of old junk that only he knows what it is. (I'm looking at this thru daughter in law, or 22 year old grandsons eyes.) He wants to sell car for $25,000, but he's getting no action on it. He finally gets a looker who offers him $15,000... Well that just pisses him off, after all he has $35,000 invested and his labor was free. So ad gets dropped and car and parts gets forgotten as Ma and Pa's health deteriorates. Soon whole extended family is dealing with nursing homes/hospitals for folks. Then Pa passes and Ma either decides to get rid of car and stuff or she still ignores it all and it still sits. Then when Ma is gone, 50-60 year old kids decide to sell family farm. They have no idea what this car and parts are worth. Whole package may sell for $5000. or so. Folks house and barn are sold and stuff inside needs to go.
    -- I think we all need to think about this as we get older. Anyway I believe the Covid 19 thing isn't going to cause prices to drop immediately unless someone is forced into bankruptcy or looses their home.
     
    weps, joel, abe lugo and 2 others like this.
  7. ......Are you talking about the Model A done for Paul Sr. of Orange County Choppers, 'cause your post is a little ambiguous?
     
  8. oldolds
    Joined: Oct 18, 2010
    Posts: 2,968

    oldolds
    Member

    If all your worried about is what you hot rod will be worth, you are in the wrong hobby! Collect gold bars if you want an investment. Collect hot rods for enjoyment!
     
  9. Rickybop
    Joined: May 23, 2008
    Posts: 6,438

    Rickybop
    Member
    from Michigan

    There's apparently only one thing we can count on... change. Nothing seems to stay the same. Changes are good for some people and their circumstances, not so good for others.

    In this circumstance, and due to fewer and fewer people over the years being interested in old cars, it might benefit some of us. If we can live long enough!

    I heard the other day that drive-in theaters might be making a bit of a comeback... for obvious reasons. Interesting.

    But it's hard to say what's going to happen.

    I honestly hope this virus goes completely away and things get back to the way we were. EXCEPT that everybody has a newfound appreciation for each other and all the good in our lives. I don't even care if the prices of cars never come down and I never have a 32 Ford... as long as everyone will be alright. And I'll be more than happy with my '53 Chrysler.

    BUT... I'm telling you guys... if it looks like the world's gonna end, I've already got a plan. I'm gonna go and snag some poor soul's badass hot rod and go on one hell of a bonsai run!!! LOL!

    Hey guys. Try this while you're stuck at home wondering what else to eat. Super easy, super good. Hot cook-style chocolate pudding poured over vanilla ice cream. You're welcome. LOL
     
    alanp561, bobss396, raven and 4 others like this.
  10. low down A
    Joined: Feb 6, 2009
    Posts: 257

    low down A
    Member

    where are the animal activist? this poor ole horse has been beat so many times it should be considered a crime
     
  11. The good stuff will always command good money! Lots of junk out there.
     
  12. LOU WELLS
    Joined: Jan 24, 2010
    Posts: 1,569

    LOU WELLS
    ALLIANCE MEMBER
    from IDAHO

  13. Russco
    Joined: Nov 27, 2005
    Posts: 4,131

    Russco
    Member
    from Central IL

    I’m sorry I don’t always convey what I’m trying to get across very well on these forums. That’s not what I’m saying. I’ve been doing this a long time. I’ve built and drove the shit out of, then sold several cars. You’ve probably seen some of the cars I’ve built and later sold (for very reasonable prices too). I’m not doing any of this for the money. I have never had a problem selling any of my cars, When I decide to sell, I price them to sell and they sell Immediately. I figure being able to drive a nice old hot rod or custom for a couple years is well worth the loss I take usually when I sell one. I built, drove and enjoyed then sold both this Vert and the A coupe. Mostly just to fund the ‘40 I have now. I get my value out of the enjoyment of building and driving the shit out of them, But I used to be able to find cars to buy rather easily and it seems like with all that’s going on now, the market should be flooded with decent cars at a reasonable price but I’m not seeing it. I’m just wondering if others are thinking and seeing the same or am I missing something here? I donno? I guess I’m just rambling.
     

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  14. squirrel
    Joined: Sep 23, 2004
    Posts: 46,101

    squirrel
    Member

    The old retired guys with the overpriced old cars aren't being thrown out of work, so they don't have to sell right now.
     
  15. H380
    Joined: Sep 20, 2015
    Posts: 433

    H380
    Member
    from Louisiana

    If you are worrying about market value of your hobby. You are doing it wrong.
     
    bobss396 and treb11 like this.
  16. dan31
    Joined: Jul 3, 2011
    Posts: 1,045

    dan31
    Member

    Yes, i think the car prices will go down mostly due to age of current owners and lack of buyers / new folks coming into the hobby. So far i've only seen a slow down of sales but the bottom hasn't fell out . I have been wondering also if this virus mess causing lots of shows to be cancelled will accelerate the amount of cars listed for sale or not. With the shut down of local weekly/ monthly shows it will be interesting to see how many folks come back when it all reopens and how many will have found that they have or are starting to lose interest . I think when the local stuff really slows due to any of these factors that when the selling will increase and drive the prices down farther. Not something that I wish to happen, my cars are a source of enjoyment not a investment, but still, i don't want to get crushed either.
     
    Texas57 and scrap metal 48 like this.
  17. ramblin dan
    Joined: Apr 16, 2018
    Posts: 2,035

    ramblin dan

    I'm already noticing even in the last few weeks while stuck in the house there is more projects and cars coming up for grabs on local sites. And I believe it will be a lot like the recession of ten years ago in time.
     
  18. oldolds
    Joined: Oct 18, 2010
    Posts: 2,968

    oldolds
    Member

    The funny thing to me is that every one says there is no interest in old cars, they bottom is falling out ect. 25 years ago most cruise night around me would have maybe 30-50 cars. Now the same cruise night have over 100 some are 100's. 25 years ago most had never heard of Barret-Jackson, Mecum. or any of the other major car auction companies. Those companies are trading 1000's of cars each month.
     
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  19. ...........I wish we had never heard of them.
     
  20. Hnstray
    Joined: Aug 23, 2009
    Posts: 11,443

    Hnstray
    ALLIANCE MEMBER
    from Quincy, IL

    Major crises like the current situation not only drive new changes, they accelerate those that have begun. Many current news articles speak of the changes in business and methods, etc., that are likely to become the ‘new normal’ when the crisis has passed.

    That consequence is not new, it always accompanies upheavals of various types. I am not saying that is a bad or good thing, it probably contains a bit of both, it is just what happens.

    Ray
     
    Last edited: Apr 28, 2020
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  21. Model A Gomez
    Joined: Aug 26, 2006
    Posts: 1,235

    Model A Gomez
    Member

    I live near a lot of aircraft industry and every time they have layoffs there a lot of cars, boats and motorcycles for sale, I expect there will be more cars on the market due to the job market. I'm old and remember when the old cars were reasonably priced and think they are over priced now. Will probably come down in price for a while, I think there will be a lot of project cars on the market, Squirrel is right on the old guys with finished cars !
     
  22. dan31
    Joined: Jul 3, 2011
    Posts: 1,045

    dan31
    Member

    Your right about the cruise nights, i don't ever remember them around here until 10-15 tears ago and I hope it continues. The problem is how many of those cars at the local cruise night are owned by guys under 65-70?, i'm sure some are but what's the percentage?, not much around here. It's not really something most of us should even worry about. Unfortunately, i do know some local guys that have bought into the logic that these old cars are an investment. Usually this type of thinking comes from someone talking themselves or their spouse into making the initial purchase but we all learned in 1st grade all we need to know about investments-" Have a chair for your ass when the music stops".
     
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  23. continentaljohn
    Joined: Jul 24, 2002
    Posts: 4,478

    continentaljohn
    Member

    I see more overpriced cars then bargains now and unfortunately some folks have too much of someone else’s time into them. This craziness is temporary and no doubt that some things will change from all this ...
    Early corvettes have always been hard to find because of production numbers and tons of deep pocket collectors.. Plus they are like 1932 fords guys hold on to them for ever:D.
     
    Squablow likes this.
  24. 40FORDPU
    Joined: Mar 15, 2009
    Posts: 2,800

    40FORDPU
    Member
    from Yelm, Wa
    1. Northwest HAMBers

    In any market there is and always will be people who have unrealistic expectations of the value of their car/s.
    I'm not sure if they pull a number out of the sky they like, and go with it, or maybe add up every cent and hour they spent on it with the idea of recouping all of it, and possibly even a bit more for profit.
    If they are stubborn and stick to their guns, they will be keeping their cars.
    Research is the key, for the seller as well as the buyer, to come up with a realistic price in any current market.
     
    Russco, Hnstray and lothiandon1940 like this.
  25. Everything is cyclical. Unfortunately, us old guys are in the downward cycle.:(
     
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  26. Gman0046
    Joined: Jul 24, 2005
    Posts: 6,218

    Gman0046
    Member

    Lets face it guys this COVID-19 crisis is for real. Lots of people have already lost their jobs and many will not have jobs to return to even when this is over. Before now, the streetrod market has been in the toilet for the last couple of years. As previously posted in a HAMB similar post, the www.carsonline.com web site has hundreds of 32 Fords alone listed for sale (look it up and see for yourself). If that doesn't tell you something nothing will. The fact that you can buy cheaper then build has always been the case. I have to believe there's going to be a lot of smoking deals out there and I'm not just talking about collector cars. There is going to be lots of people without jobs who are not going to be able to make payments on daily drivers. I seriously doubt things will ever be "the same" any time soon. Crowded restaurants and sporting events? Guess we'll just have to wait and see.
     
    Last edited: Apr 26, 2020
    hemihotrod66, 49ratfink and Russco like this.
  27. lucas doolin
    Joined: Feb 7, 2013
    Posts: 401

    lucas doolin
    Member

     
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  28. lippy
    Joined: Sep 27, 2006
    Posts: 4,583

    lippy
    Member
    from Ks

    Damn I love this car!!!! :D 50744F49-048F-4A25-8B30-4D24609E6C05.jpeg
     
  29. BamaMav
    Joined: Jun 19, 2011
    Posts: 4,156

    BamaMav
    Member
    from Berry, AL

    Right on both counts. I'm seeing a lot more daily drivers sitting in yards and driveways with for sale signs on them. Payments are getting behind and people are are trying to offload then. Also have noticed a slight uptick in project cars and partially finished cars being listed on Marketplace and other places, prices are still high, but seem to be falling some. Finished cars are still high, and probably will continue to be. They don't cost much to let sit, so most aren't in any hurry to part with them yet.

    I've been in the situation of being without a job or the prospect of one and having to sell out my stuff, it's not a good feeling. Right now I owe a year on my semi truck, it makes my living, and I'm concerned about making that last year of payments the way the freight market is dying down right now. Fortunately it is all I owe on besides a couple of credit cards.
     
  30. Rickybop
    Joined: May 23, 2008
    Posts: 6,438

    Rickybop
    Member
    from Michigan

    I wish THEY had never heard of them.


    Hey guys. Try this while you're stuck at home wondering what else to eat. Super easy, super good. Hot cook-style chocolate pudding poured over vanilla ice cream. You're welcome. LOL
     
    Tri-power37 likes this.

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