Why is the car market down?

["Turbo-T"]

Seems some classic and muscle cars are selling a few thousand less today than they were just a few years ago. Why? Is it due to high gas prices? Or something else?

 

[gmpower]

High gas prices,high foreclosure rates,bad economy in general.Less people have money to buy toys. Of course I love these cars that are really just a toy for grown ups so I will continue buying, but if I was one of those "bandwagon collectors", I would back off from buying as well as many others have lately.

 

[chopped39]

High gas prices,high foreclosure rates,bad economy in general.Less people have money to buy toys. Of course I love these cars that are really just a toy for grown ups so I will continue buying, but if I was one of those "bandwagon collectors", I would back off from buying as well as many others have lately.

x2 Then you can add Barrett Jackson to the problem.A lot of people got hurt buying through them.

 

["Turbo-T"]

Yeah well as I've learned Barrett-Jackson is for rich people without a conscience. They'll pay high dollar for anything.

I at first thought high gas prices would play a role but then some claimed since these are "weekend cars" gas prices probably won't hurt the typical collector car.

Unlike the SUV market which is taking a hit because it seems those things are daily drivers to most.

 

[Grumpy]

newer cars feel it more with $$$ being tight. Old rare cars usually don't go down in these hard times.

 

[mjdwyer23]

My $$ is sitting in my portfolio waiting for the price of that 70 chevelle I want to come down. I feel like it is going to get worse before it gets better, but if you're a serious buyer right now it's heaven! I just bought a house as well, I'm sure we all know what's going on in that market!

 

[MikeL.]

Wait to see what happens after the new Fast and the Fursious movie comes out. Maybe the TR's debut on the big screen will drive up demand/prices

 

[mjdwyer23]

I doubt it. There are still too many around. It will just drive up theft.

 

[turbofish38]

Value of the dollar. It doesn't buy as much as it used too. I'm waiting for the surge of rich peeps from Europe and Asia to start scooping up the collector cars again causing the bubble to pop and putting B-J out of business. Anybody remember the 80's? It's going to repeat and when it does it aint going to be pretty. But than we don't have to worry. Aint nobody posting here is going to ever get rid of their car(s), right?

 

["Turbo-T"]

I don't remember the 80's in terms of the market. Care to enlighten me? :smile:

I don't plan on getting rid of my car unless I have to. Because I know I will not get back anywhere close to what I have in it now. I learned that lesson when I had to sell my 396 big block 12 bolt bucket seat Chevelle last Jan for $8k when I had $12k in it and couldn't even pull $9k for it. Unfrickenbelivable.

 

[turbofish38]

Bubble numero uno busted in the 80's. Muscle cars tanked overnight because wealthy investors(JapanInc) bought up cars in hoards jacking the prices up. Japan went into a recession(just like us today) and they stopped buying cars over here. Remember when you could buy a Hemi for used car prices than suddenly they were $50K than $100K and than they were back down below $30K. Everybody was crying because all of the cars were going overseas.

 

["Turbo-T"]

Remember when you could buy a Hemi for used car prices than suddenly they were $50K than $100K and than they were back down below $30K. Everybody was crying because all of the cars were going overseas.

I do remember seeing an old ad for a 1970 Hemi Cuda for $4800 in a 1983 Auto Trader magazine. I then read that two years later the price shot up to over $10k for the same car. It wasn't until the mid 90's when I started analyzing car prices but even them I wasn't window shopping for an exotic I couldn't afford.