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This seems cheap for a full classic Packard convertible in this condition, even for a six.

https://www.hemmings.com/classifieds/cars-for-sale/packard/526/1887348.html

Am I missing something, or is this Packard hobby re-defining my sense of cheap?

The supply/demand ratio continues to shift as time passes and younger folks replace the old timers in our hobby. Except for those really exceptional cars of that era, demand should continue to slowly drop while the supply remains more or less constant. Maybe by the time I'm 125 years old I'll be able to buy a 100-point '34 Twelve convertible coupe for $15,000.

Well, that's good news for me. I want to buy a full classic in 6-10 years, based on when I can retire from the navy. Looking at the late '20s convertibles.

Shucks, I was counting on that price dip!
If we all live to 125, just to buy one, the prices won't go down!
I'm still stuck in the non orange crate mentality but prices have caught my eye and made me rethink. I still drool at the car shows when they have a resto-rod '30s Packard. Sumptin about those grills. If the trend continues and there's no plague of car eating termites, I might pull the trigger some day. Drop tops are in my wheel house also but they are still up in the stratosphere mostly. Too many cars, too little time and $$ to own all I'd like too.