Packard Forum Index » Post-War (1946-54)

https://classiccars.com/listings/view/930777/1948-packard-4-dr-for-sale-in-mesa-arizona

No love for 4 doors here, but these cars are well below fair value as not much market for them and it's shrinking. The trend continues. Coming soon, can't even give them away.
And anyone that's brought one back from the grave knows it don't get done for a few grand.
Collector car market is generally soft except for the big tickets, I think. The prolonged slow global economy has taken its toll. Some would say, good time to buy, but selectivity is prudent as the younger generations enter the market. They didn't have posters of post war Packards in the their bedroom. Otherwise, you end up with just a bad investment. The old saying what goes around comes around may no longer apply.
Any comments on the off shore market?

It isn't always about the investment, it is also the pleasure and enjoyment of a car.

John

Agree. On that Eight Deluxe, going non-original on both exterior and interior is a risk at resale time. The price is about at market, I'd say.

Old cars or even new not recommended by many money managers.
In my view they are hobby, which provides enjoyment,pleasure way to meet like minded people and something to keep your free time occupied. Mine has provided all of the above and hope to continue doing it for long time. You can't take your money with you spend it on what makes you happy

I agree with acolds. The pleasure you get from a hobby and the friends you make cannot be measured in money. I have several hobbies I enjoy, but the friends I've made are even more enjoyable.

Instead of a nice Packard you can join a country club. At the end of the year you have enjoyed the club like you would a Packard. But at the end of the year the $$ value of the money you spent at the club is $0 and you have nothing to show for it. If the Packard loses $1000 in value you still have a car worth $7500 and you still can enjoy driving it.

This also holds true if you have a Hudson

The old car hobby reflects the decades long decline in real earned incomes. Back in the 40's old Packards were used as transportation by people like Ted Kavenagh, Charlie Clancy, Joe Sulley (Cadillac V-12), Harry Fanelli, and few a others whose names escape me at the moment and these guys were the first members of one of the present well known clubs which started in New York City where lots of low mileage Packards were being dumped onto used car lots.

Those people are all dead now and more and more Packards are being dumped onto the market for the same reason. I remember when you had to have connections to buy a Caddy 16. Today there are tons for sale.

Most young people don't have the money to play around with old cars. However there are some crazy things going on like VW microbuses getting ridiculous prices so if I was betting on sleepers I would be buying and storing old Chevy Suburbans and Ford Econoline vans.

I wouldn't expect to make any money on Packards and that includes stupid $2 million dollar Packard Speedsters which is crazy. I've driven those things and the only way they are worth $2 million dollars is if the trunk is stuffed full of thousand dollar traveler's checks.

I think the comments reflect what I see as the problem. We justify our actions out of emotion. It's also a bit of historical preservation.
Is it not possible to have both, enjoyment and value?
Some high end vehicles do possess that. The low end is suffering. They sell for "used car" prices while "parts" cars aka full restoration needed, ask an unrealistic amount. Supply is shrinking that shouldn't happen. The market is distorted. I can show a similar "bad" parts car that is half this price. Maybe there's still too many? Market is not well quantified. Markets are always streaky. If one has a freshly restored car and the comparables are selling for nothing that pulls down the values overall. Just like houses, if the neighborhood runs down... After a long period of time, it will kill this trademark.
If you just think of it as a hobby to throw money at, then the trend will continue.
I doubt any modern $30K lookalike car is as good as that sedan was and will never have collector value.
ps; when I can buy a V-16 Cad for $8750, I'll buy two, but that's not likely. I know the Cad collectors too well.

Part of the problem is younger people are not that interested. If at all. People in their 50's, 60's and above couldn't wait to get a car, now the young ones just don't care much. When they get interested in a car, it'll be something much newer. I find very few younger guys have any interest at all. As we die off, there is no new market coming through the ranks, and the cars are still around. Face it, as the guys we know who love these cars die off, the cars are still here. They go to the ad sheets, auctions, ebay and so on, but there are fewer and fewer buywers, so, same supply and less demand = lower prices.

One strange thing I've noticed - younger women seem to be quite attracted to them. I have many younger women - teens, 20's and 30's - come up all excited to look them over, ask about them, sit in them. The guys want to play a video game. Too bad the girls weren't that interested 40-50 years ago!