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Article about Classic Cars dropping in Value
#1
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1825TulaneAve
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Posted on: 6/5 12:32
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Re: Article about Classic Cars dropping in Value
#2
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58L8134
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Hi

Yes, it is occurring dependent upon segment of years and makes of the collector cars. Pre-war general production cars including some CCCA Full Claasics with factory bodies are flat and/or receding. Custom-bodied cars and the highest-end makes are still reasonably strong.

Its simply the affects of demographic change as those of us most interested in the specific makes and decade of cars ages out.

Project cars are nearly impossible to sell now unless they are extremely cheap. Changing focus of interest and increasing restoration cost make many simply uneconomic when the same make and model may be sourced for a reasonable price ready to enjoy.

The upside is its a buying opportunity to procure a car of your choice for a favorable price to enjoy. Forget the investment malarkey, old cars are an entertainment, treat them as such and take your value accrual in enjoyment.

Steve

Posted on: 6/7 12:55
.....epigram time.....
Proud 1953 Clipper Deluxe owner.
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Re: Article about Classic Cars dropping in Value
#3
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1929PackardGuy
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Steve has it right, but it's not just collector cars, it's antiques across the board. The "under 30" crowd, by and large, cares little or nothing for anything old, regardless of what it is.

Prewar car prices, for cars that are actually selling, are very similar to what they were back in the late 1970's and early 1980's. Antique furniture has completely tanked, art glass lamps (Tiffany and such) have imploded, and I collect prewar electric trains as well, and once again, the prices today are about what they were in 1975.

And, it's not going to come back. There will always be those who appreciate large classics and antiques, but the vast majority of the Gen X and Gen Z folks have no interest in the stuff and never will. Buy it, drive it, enjoy it. As Steve said, buying opportunities are only going to get better with each passing year.

Posted on: 6/7 15:01
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Re: Article about Classic Cars dropping in Value
#4
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Tim Cole
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Yep, those Duesenbergs are becoming affordable again. Years ago I went to the national coin show in NYC because it was an easy stroll from my apartment. I saw a rare bellweather MS 65 coin selling for five figures. I didn't want to pay the fat NYC sales tax (I would have handed over my American Express card otherwise) so I asked to go to their store instead. As usual they figured I was some bum and didn't think I was capable. Turns out they did me a favor as the thing hasn't gone up one lick in decades.

For the old cars, we have passed peak oil and the desirability of gas guzzling old cars has no where to go but down. I might consider an old Austin with the 948cc engine only because it has gear whine like an old Packard. There are so many negatives on the technical side such as what do you do when the distributor tests good and the dwell still floats around and the car is overheating? In a Duesy that is a huge problem.

But who knows?, when a stupid football card that can be reproduced in China by the billions sells for $4 million dollars there are some serious loose screws in the human brain.

Posted on: 6/7 15:21
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Re: Article about Classic Cars dropping in Value
#5
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R H
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Kids in my neighborhood. I would say 10 to 1 .. They like older cars. I get more cool car than wouldn't drive that. Kids are being brainwashed.

Until. The EPA and here in California. Carb. Are abolished. And environmentalists are jailed for destroying a countries economy . only then will things revert.

The agenda group. No facts. Do as I say...

The kids I do talk to. I say its up to their generation to keep these cars around..

Posted on: 6/7 15:54
Riki
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Re: Article about Classic Cars dropping in Value
#6
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HH56
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In the same vein as old cars dropping in value and being gas guzzlers I read that London had proposed a law designed to keep old cars out of the city and surrounding area mostly I think due to their emissions. A new tax of almost draconian standards that in some cases exceeded the value of the car was proposed. Talk about having a loss in value.

Was curious if there is news on that as to if it passed or is likely to pass or was it so much hot air. If it is real what are alternatives because in that same article it was mentioned that a few US cities are considering the same approach if it works out.

EDIT: I did find a followup article saying an extra fee of 💷10 was in effect and is called a toxicity charge. Fee is added on top of the regular fee they charge other cars to go into the restricted parts of the city. Went on to say that was the first step and "other measures are being considered" to widen the impact.

Posted on: 6/7 16:16
Howard
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Re: Article about Classic Cars dropping in Value
#7
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R H
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There is a committee forget what its called. But they want to do it here.

Agenda to fund housing... These people are idiots ... And where's your taxpayers paid justice system.

Posted on: 6/7 23:06
Riki
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Re: Article about Classic Cars dropping in Value
#8
Not too shy to talk
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1929PackardGuy
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Quote:

HH56 wrote:
In the same vein as old cars dropping in value and being gas guzzlers I read that London had proposed a law designed to keep old cars out of the city and surrounding area mostly I think due to their emissions. A new tax of almost draconian standards that in some cases exceeded the value of the car was proposed. Talk about having a loss in value.

Was curious if there is news on that as to if it passed or is likely to pass or was it so much hot air. If it is real what are alternatives because in that same article it was mentioned that a few US cities are considering the same approach if it works out.

EDIT: I did find a followup article saying an extra fee of 💷10 was in effect and is called a toxicity charge. Fee is added on top of the regular fee they charge other cars to go into the restricted parts of the city. Went on to say that was the first step and "other measures are being considered" to widen the impact.


They are and this is already the policy in Paris and Berlin. It soon will be in most major U.S. cities. If the car is older than 25 years, you must have a special permit from the city (read that tax) to drive it within city limits. They also limit the number of miles it can be driven in a year as I understand it but I have no idea how they'd verify that. But, in Paris and Berlin, the police will already stop you if you're in an older car and see if you have your papers in order and have paid your pollution fee to drive that old clunker.

Posted on: 6/14 16:30
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Re: Article about Classic Cars dropping in Value
#9
Just can't stay away
Just can't stay away

MJG
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I feel bad for those of you that have to drive your cars in these cities however, I hate driving my modern day car in the city and planning on more work from home post COVID (three plus days a week). One of the reasons I picked my rural home was an endless supply of backroads. Sorry but, let the echo chamber be the echo chamber. A few years ago there was a special on PBS highlighting Paris, I told my wife to take it in.

Posted on: 6/14 22:06
1948 Custom Eight Victoria Convertible
Others:
1941 Cadillac Series 62 Deluxe Convertible Coupe
1956 Oldsmobile 88 Sedan
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Re: Article about Classic Cars dropping in Value
#10
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R H
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In California it's under metros office of extraordinary innovation.. If you can believe that..

They created gridlock. With uncontrolled building.. Then they want to tax you restrict you from driving.

From their -uck ups..

From AAA westways ..sumner 2021. Mag.

Posted on: 6/14 22:47
Riki
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