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Correlation Between Classic Car Prices and Financial Markets

281 messages,  Last post on Oct 09, 2009 at 9:01 AM

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What is this discussion about? Classic Cars


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#272 of 281
Re: The Weak Dollar and Classic Car Prices. [hpmctorque] by Mr_Shiftright HOST
Oct 07, 2009 (6:12 pm)
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Replying to: hpmctorque (Oct 07, 2009 4:52 pm)

Japan went bust in the 1990s and (scary thought) even now has not fully recovered from its recession. Their banking practices made OURS look good, if one could even wrap one's mind around such a concept.
 
RE: American spec cars in Europe -- they "haf their vays" of converting things to their liking, quickly and efficiently. Most well to do Europeans seem to me to be pretty facile with metric conversion to American standards and vice-versa anyway. Many speak more than one language, too. --so they are knowledgeable about the cars they buy and can communicate with American buyers easily.
 
Of course the Brits have a whole other problem with RHD/LHD, so they like to shop our RHD cars---all the quirky British stuff like Alvis, Humber, old Bentley saloons, Triumph Heralds, Stags, Vitesses, etc.---all that seems to be finding a market more in the UK than here. But they know how to swap LHD to RHD for many popular makes like Jaguar, Rolls, etc. and they can deal with rust as easily as we deal with a brake job. The same British cars we wouldn't sniff at over here are often restored in the UK, much to our (my?) amazement. But then, when you live on an island where most old cars are converted readily into iron oxide, one's concept of what is worth saving, changes.
 
Scandanavians are into American Muscle of all things. They go nuts for them, if they are nice and if they are "iconic" and easily recognizable. Everybody knows what a Mustang and a Corvette is. A Buick GS, not so sure that such a car goes over big in Norway.
 
#273 of 281
Re: The Weak Dollar and Classic Car Prices. [Mr_Shiftright] by fintail
Oct 07, 2009 (7:04 pm)
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Replying to: Mr_Shiftright (Oct 07, 2009 6:12 pm)

And a funny thing...the Dutch and Belgians - the former especially - seem to have a thing for 60s and 70s American luxobarges. Lots of that material has been shipped there. A fair bit of tailfinned 50s stuff has made it to the continent too.
#274 of 281
Re: The Weak Dollar and Classic Car Prices. [fintail] by Mr_Shiftright HOST
Oct 07, 2009 (7:08 pm)
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Replying to: fintail (Oct 07, 2009 7:04 pm)

Yes the gaudier and showier the better. I guess in a country where flamboyance has been somewhat suppressed, a '59 Caddy makes quite a splash. It would be like the reverse effect of being modest and shy in Las Vegas.
#275 of 281
Re: The Weak Dollar and Classic Car Prices. [Mr_Shiftright] by fintail
Oct 07, 2009 (7:14 pm)
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Replying to: Mr_Shiftright (Oct 07, 2009 7:08 pm)

Yeah, if you drove around a major European city in a 59 Caddy convertible, you'd get more attention than in a Lamborghini.
 
The last Dutch used car periodical I had was full of surprising things - big old 70s GM sedans, Chrysler Cordobas, whale Thunderbirds, 70s wagons.
#276 of 281
Re: We got back all the Ferraris that went to Japan though by omarman
Oct 08, 2009 (12:38 am)
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Replying to: hpmctorque (Oct 07, 2009 4:52 pm)

I can think of possible reasons for this, but why did this happen?
 
There's an old but still interesting article online about the Ferrari market roller coaster ride back in the 80's. "When Japan Ruled the World"
 
Here's a GTO that sold to Japan for $13.3 million plus commission in 1989. Five years later it sold to an American for $3.5 million:
#277 of 281
Re: We got back all the Ferraris that went to Japan though [omarman] by Mr_Shiftright HOST
Oct 08, 2009 (8:07 am)
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Replying to: omarman (Oct 08, 2009 12:38 am)

ouch! And now it's back up over $10 million again (presuming it's a correct car). Sky's the limit on those babies. There are only so many to go around, even if you HAVE more money than God---you can't have one unless you raise your bid....up and up to ????
 
Even at those rarified heights---it's still the supply and demand formula setting the price.
#278 of 281
Re: Carlisle observations.. [parm] by andre1969
Oct 08, 2009 (8:24 am)
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Replying to: parm (Oct 07, 2009 5:30 pm)

A '64 Olds 98 convertible? A nice one? Hey, now you're talking my speed. Anyone snap any photos of it?
 
Yeah, it was in very nice condition. It was dark metallic green. Hard to tell the exact color as it was under the pavilion in the shade, but I'd say it was a bit more "forest", as opposed to "olive". I think I took a picture of it. I'll let you know when I get the pics off the camera and post them. I've been really lazy about that this year.
 
I think all this improved technology helps breed laziness. I remember not that long ago, the camera I used could only hold something like 150-200 pictures on one memory card, so I had to clear it off occasionally to make room for more. Well, the camera I use now holds over 1000, depending on the resolution. So, there's not as much hurry to clear 'em off.
#279 of 281
Re: Carlisle observations.. [andre1969] by lemko
Oct 08, 2009 (10:45 am)
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Replying to: andre1969 (Oct 08, 2009 8:24 am)

Heck, that car pales to the drop-dead gorgeous 1970 Cadillac Sedan DeVille that was there earlier! If that car had been a 1969 model, I'd have gone for it!!!
#280 of 281
Re: Carlisle observations.. [andre1969] by parm
Oct 09, 2009 (8:59 am)
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Replying to: andre1969 (Oct 08, 2009 8:24 am)

Would love to see the photos for that '64 Olds 98 convertible, but don't sweat it if it doesnt' work out. Holy cow, for $35K it better be the best one on the planet. Does anyone know if it sold, or did the owner take it back home with him?
#281 of 281
Re: Carlisle observations.. [parm] by andre1969
Oct 09, 2009 (9:01 am)
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Replying to: parm (Oct 09, 2009 8:59 am)

Does anyone know if it sold, or did the owner take it back home with him?
 
Well we were only there for the day on Saturday, but it was still there that evening when we left. I have a feeling that it didn't sell. I'm going back up there for Hershey tomorrow, so who knows...maybe it'll be there?

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