Art & Inspiration What's the Market Doing to Your Car?

Around the mid 1980's i remember reading about classic car auctions breaking record after record.
1987 the stock market crashed.

In the mid 2000's, auction results for Australian Muscle Cars went stratospheric. Although there was also a bit of market manipulation going on, still cars that were previously worth $30k now sold for $300k.
2007 gave us the GFC

Now cars prices are again going crazy.
Will the finance markets tank?
Who knows, but i've sold my house and moved the family into a buried water tank on 50,000 acres. We all wear hats made of tin foil and hunt kangaroos for food with a sharpened length of 8 gauge fencing wire.

 

I’ve always wondered how all those dinosaurs ended up thousands of feet under ground.
Did cavemen bury them there?
Same guys probably placed the dead fish on mountain tops.
Fred Flintstone sure was a sneaky fella

 

I was told I paid to much for my car. That was 34 years ago.

 

I still get that feeling I got as a kid building model cars working on my avatar, you can’t put a money value on that. Now my second grandson (my first passed away a month ago) wants to step in and help.

 

Who taught the dinosaurs buried under water how to swim?
Or did they drown because no one taught them?

 

Same here, Jeff. That on top of an income reduction this year for us. Retired but thinking about asking NAPA for a part-time job just so I can sneak some 'employee rate discounts' under Mama's nose

Joe

 

As for fuel and EV hot rods.

https://www.drive.com.au/news/norway-to-hit-100-per-cent-electric-vehicle-sales-by-next-year/

This is one small country, the rest of Europe is on the same path.
I doubt there is a single automobile manufacturer that isn't planning to go all electric.

What has this got to do with us?
Well we won't be getting cheap fuel just because no one else wants it, because there will be no companies refining oil to produce the fuel to sell.
Why?
The more EV cars on the road, the less demand.
That equates to less sales of fuel, lower profits until it's un-economical to sell fuel.
No one is going to sit in their service station all week to sell 100 litres of fuel.
No more service stations.
Therefore no demand so no more refining.
Full stop.

The future is here.
Sure you can grow corn, or make diesel out of old cooking oil, but in 20 years that will be as socially acceptable as smoking on a plane or marrying your 13 year old cousin.

 

You can still buy horse shoes and oats

 

Anthony, have you been drinking tonight?

 

This is twisting nicely. I admire Ryan and the mods letting us members talk about it because it does ripple into our world.

I noticed the "not selling" references, I see prognostications both ways, and like a brokerage house has to say, "...past performance is not..." blah, blah, blah. Since I'm a lifer, a 1957 model at that, I've heard and seen every scary climb and even scarier descent on the rollercoaster of investing in the car market since the early 70s when my dear departed Dad taught me how to hustle. My 1st flip was a 36 Buick Tudor sedan. I put in $200 and $600 back. Couldn't wait for the next one. Every "toy" I have is long ago paid for in hustle money. Truth be told 1/2 the shop's tools and equipment too. Crash? Hey every bubble bursts, that's the juice! The sky fell a dozen years ago didn't it? What fell with it? Everyone who panicked and dumped their midrange cars. By the end of 2009 the "good stuff" (again) took off like a fuckin comet. Why? Like it or not this shit is tangible assets. Even banks and other financial institutions recognize that now where not long ago they were simply taboo. I personally don't think oil is as finite a resource as some would have us believe but that's not my field. I'll respectfully listen to those who's it is and blend it with generic science. I said in my 1st reply we're in a Twilight Zone moment because even in our world "they" (whomever they are) are trying to mold and shape the direction. Sorry. Even the generations following us into this are pretty dedicated to the gospel of traditional hot rods. I don't recall at the moment who 1st said "This too shall pass..." (Lincoln?) but it will. And if this is such a waste of time and money, even adjusted for inflation I'd gladly give back the $3,850 I sold a zero rust 36 3W hot rod to in the mid 70s. Stance, SBC with a 39 trans and Zephyr gears, copper and white tuck n roll, SW gauges in a copper dash with a copper 59 Impala wheel. Slick, shiney black. What's it worth today? I'd get $60K + in a week or less today, maybe more. It was that nice. Gotta run, the sky is falling. Too many pigs flying...!!

 

I don’t drink. that’s the scary part

 

They say you never really own a classic car...you are just the current caretaker.
It amazes me how much some folks will pay to hold that temporary position.

 

I don’t understand disguising an electric motor as an ICE.
Like the builder is ashamed or sumthin
Like flathead valve covers on a 350.

 

Sorry to read that Tubman......

 

The big gainers I see in the market are the classic 4X4s. They have doubled in price since the pandemic. I told my son to hang on to his. Funny thing, my DIL accidently broke out the back glass in the new truck and it's been sitting @ the dealership for weeks for glass replacement while he drives the classic daily.

Joe

 

The future of hot rodding?!?!?!

 

Yeaaah, bit of a difference there.
Anyway, horse people are weirdos, unlike car people who are completely sane and rational...

 

Never really cared about the market - hell I sold off my R/T's, GTX's and Hemi cars in the early 90's as the money was good then - yes I have regrets but I was already collecting RPU's, 1932 stuff along with flatheads before the great surge in traditional builds got popular - beginning in the late 70's.

 

So , after reading a bunch of this my question is ... who are they going to find to work on these vintage vehicles they are buying at stupid prices? Most likely these buyers don't have a clue ,they just see what they want and hit the buy it now button. Maybe this will help local shops with new customers? But sadly that skill set is fading fast .

 

Or Rocket covers on a sbc

 

The term "Proven reserves" indicates they are retrievable now with the technology in existence now. There are more reserves that are not "Proven". In years past we didn't have to the technology to access reserves we are accessing now. Technology increases at an exponential rate, or at least it does when it isn't restricted due to policies and agendas. BP puts out an annual state of the industry report, I think past reports have claimed something like a couple of hundred years worth of petroleum and natural gas deposits at the current rate of consumption. The problem is, the rate of consumption continues to increase, reducing the total length of time. But, we keep finding more of the stuff.

And that's without bringing up the subject of abiotic oil. That's a whole nuther rabbit hole to go down.

 

For the record, my 5 year prediction was directed at no one in particular.

This is part of the reason I see nice cars bringing really premium money, the work is done, and the cost of having work done, or even finding anyone who can do that work, is very high. 20 years ago I knew several guys who would paint a car in their garage, or rebuild/swap an engine on the side, now I don't know anyone who does that kind of stuff "on the cheap".

And I do believe a big part of what's driving the price of old parts up so high is that every year we lose more big old junkyards. Old guys die, or want to retire, and no one with more money than the scrap man is there to buy them out, so the fields get wiped clean. Hoarders/collectors die and the loose parts sell for small change because no one knows what parts came off of what cars, (seems like nothing I buy is ever marked) so the loose stuff is really hard to sell, and small time builders love to throw away stuff they're not going to use, to save space, or maybe put it on Facebook for a couple weeks and then junk it if there are no takers.

Those prices on eBay reflect that. It might seem crazy what prices some of the stuff sells for, but where else are you going to find it?

 

My condolances @nochop to you and your family. That must be tough beyond imagination.

 

Thank you

 

[/ATTACH]

I'm already planning mine. Do you think it needs the top chopped..........???

 

Yes the future is probably electric, but I am 68, I figure gas will be around as long as I can drive. Bigger question will be can I afford gas.

 

Wow. I thought Jay just asked for experience with today’s classic car market. Not sure why so many talented car guys feel the need to boldly predict the future, or pontificate about oil reserves. Damn.
And it is hard to believe you weren’t drinking yesterday @anthony myrick

 

I sold my 51 mild Kustom Mercury this Spring after having it on the Market for a few years. It was priced very fair, pretty nice car, and offers received were from car flipper types which I refused, waited for the right guy to come along. A HAMB member purchased it, he's very happy with it, took it to the James Dean Run and received a top 20 award, made his day. I'm happy for him as he appreciates the car as I tend to have a personal attachment to my hobby cars. I believe the hobby car market is as strong as ever, IMO whats hot changes with the times, I see great deals on 32 Fords, older hot rods in general, muscle cars are whats real hot now. I'm 74 now and as always ups/downs, market values run in cycles, I use the buy high and sell low to keep the volume going, My hindsite has always been perfect, foresite not so much, my free advice/BS for the day, Don't Panic ride it out, it all balances out with time.