Future for collectible p cars, and collectible cars in general?

[fastfredracing]

It seems to have been trending downward as of the last year or so, but some recent auctions have seen big numbers for certain cars.
Im at a place where I would like to change my life. I am ready to sell off some toys, but will kick myself , if in 2 years find I have left a bunch of money on the table .
I myself, feel that special cars will continue to appreciate at a somewhat slow, but steady uphill pace. ( I hope )
Curious to see what you opinions are . I watch the market place forum a little bit, and kind of keep an eye on the cars I am interested in by the normal channels , but have not been watching it like I used to

[Evans, Marv]

If I sell my car some time, I won't think about collectable cars afterwards. I'll buy a replica and not think about appreciation & just have fun driving it. Not that mine is some supremely collectible item mind you

[ckelly78z]

As with most of my specialized cars when I sold them, I did it for other reasons rather than sentimental. I needed money at the time, had too many cars on insurance, no good place for storage, or just wanted something different.

If you truly love the car(s) keep them, and never sell. To "change you life" you actually have to change, and let some things go in the process. Sometimes it's a good thing to purge everything not needed in your life, and start with a clean slate.

[scottmandue]

I'm no expert but I think there has to be a bubble a comin sometime... of course we have been saying that for many years and it still hasn't happened.

I would love to have this car, but $32K? I could find a much more fun (and modern) car for that kind of money.

https://www.hemmings.com/classifieds/dealer/chevrolet/impala/2032743.html

[fastfredracing]

Exactly where I am at. Too much stuff, huge burden to keep it all running, insured, and stored. Not enjoying a lot of it anymore, and who could not use some extra $
That being said, a few things I have are somewhat special, and I do not need to fire sale them right now. I would be pissed to find out I left 100k on the table a few years down the road.
I am trying to be smart about it, but I really would like to move on to other things in my life .
Ill still have a couple of p cars to play with.

[fastfredracing]

Originally Posted by scottmandue

I'm no expert but I think there has to be a bubble a comin sometime... of course we have been saying that for many years and it still hasn't happened.

I would love to have this car, but $32K? I could find a much more fun (and modern) car for that kind of money.

https://www.hemmings.com/classifieds/dealer/chevrolet/impala/2032743.html

Are you saying a bubble burst, or a huge increase in value. ?

[Seahawk]

I am getting back into the SC Targa market because I want to drive one again - the price seems right and I have no illusions of making any money off of a weekender. I just want another one, it is that simple...and I want a driver, not anything I am going to worry about.

Interestingly, the 560SL I have owned for almost four years has held it's value - which is all you can really ask for from that level of car.

Ask yourself a question: If someone offered you the fair market value for your Turbo today, would you be happy and would that money go to work for you?

If the answer is yes and you having been thinking of selling, sell.

[Deschodt]

Originally Posted by fastfredracing

Exactly where I am at. Too much stuff, huge burden to keep it all running, insured, and stored. Not enjoying a lot of it anymore, and who could not use some extra $.

+1000

The rise in price has made a lot of desirable cars jump my fun/price curve... I try to keep only the ones I still enjoy and could not re-purchase...

The burden of keeping everything running tip top (because they *have* to be in perfect shape), exercising the lot, charging batteries, insuring, storing, shuffling around my garage/driveway has become too much of a pain in the butt. The increase in values makes me think twice about actually beating up on them or parking them anywhere...

So I'm keeping the ones I know I would miss, i.e the 72 911 (iconic) and 73 2002 (hoot to drive), a lesson learned after selling my 356s, but I sold /am selling everything else that was redundant. Truth be told I enjoy the 2002 10x more than the 911 because it's cheaper and just as fun... I ditched both 912s (for a nice profit) and I will sell my Alfa GTV in the coming weeks (it's getting a pre-sale paint touch up) because it's essentially a sexier 2002, and I already got one of those. Time to simplify !

[wayner]

If you have a high school car, they may be tapering off.

If you have a got a rembrandt, there will always be a market, especially if it is the type that you put on a pedestal like art rather than drive

[scottmandue]

Originally Posted by fastfredracing

Are you saying a bubble burst, or a huge increase in value. ?

A bubble burst, but then they said the same thing about real estate that did happened for a few years and now it has bounced back (apples and oranges I know).

One theory is the classic car craze is being supported by us ***cough*** old guys who are buying the dream cars of our youth.

However the youth of today are not "car crazy" like our generation is and as our generation start having to surrender our drivers licences the market for these cool old cars will drop off.

That is all theory of course.... my crystal ball is in the shop for repair.

[pwd72s]

Can't predict the future. Collector cars. Kinda boring when you think about it. All depends on how many car show type events you want to go to. How many car conversations you wish to indulge in. After some time, I simply got bored with the scene...

As far as value gains are concerned? Put your money into a good no load mutual fund..

In other words, if you love it, do it. If you'd don't...don't.

[ckelly78z]

The baby boomers who grew up seeing cool cars, and finally had the money to own them a few years back, are now retiring, and trying to scale back/buy a vacation home/lead a simpler life/help grandchildren. I can't imagine the high prices will continue for years to come without end.

[Jim Richards]

^^^that's a good possibility

[fastfredracing]

And how can Hagerty be so far off the mark? It is crazy how high their prices are as opposed to real world sales .

[petrolhead611]

If more government harden their attitudes towards fossil fuel burning cars then the values of such cars could significantly reduce, particularly if fossil fuels become hard to get or mega expensive( taxed towards oblivion). Even if the USA doesnt follow that trend, many western countries are so doing, and the market for many of the collector cars is worldwide, so then the only ones to retain their value will be the few of museum quality as they will be exhibited as works of art and/or historic artefacts..

[Tervuren]

Right now, investors are turning towards major markets instead of alternatives.

Once a lot start getting spooked that the major market is over valued, that is when the collector car market will take off again as "alternative" investments are sought out.

You will see this cycle in a spike of collector car prices followed by a downturn in major markets repeated across the last several decades.

We were approaching that spike, and collector cars were on an upswing, but election results have changed the picture. I'm not sure any of us know at this point.

I just bought something primarily for my own enjoyment, if it goes down in value I won't be crying. If it goes up a lot, I might sell and pick up whatever fun car didn't go up.

[Deschodt]

Originally Posted by Tervuren

If it goes up a lot, I might sell and pick up whatever fun car didn't go up.

that's my problem. I don't know of a fun car that I like that has not tripled in value.

[legion]

There are a lot of factors at play here, but I don't think collectors cars (other than the very high-end stuff) have a bright future.

Some of the factors:

1) Baby boomers loved cars. Millennials see them as appliances and just want them to driver themselves. (This one has been mentioned already.) If I were to invest in something now, I'd buy video games that will be "vintage" when the millennials age.

2) Pretty much all cars are made to be disposable. When Lexus entered the market, they brought luxury features to downmarket prices. 25 years on, and Mercedes, Porsche, Audi, Volkswagen, Bentley, Rolls Royce, Land Rover, Aston Martin and Jaguar largely all use the same suppliers as the Japanese and American manufacturers. Parts that were once bespoke among manufacturers are now shared with other makes.

3) The electronics make them impossible to maintain long term. Example: Because of a wiring error from a previous owner installing an aftermarket radio, the headlights and left turn signal stayed permanently illuminated when I plugged a subwoofer cable into the radio. The HVAC system, lighting system, and radio were all controlled by a computer in the radio on that car.

[Yorkie]

As you mentioned, special (really special) cars will continue to appreciate but pedestrian collector cars are going to struggle in my opinion. I just sold my '70S and it was not easy as the buyers for such cars can afford the absolute best examples and will pay accordingly. Mediocre cars struggle. On the other hand, project cars do well as people are often buying a vision or a dream. A numbers matching, no stories, complete Long Hood project will outsell a non-matching number driver any day of the week. Wish I had sold in 2015.

[Tervuren]

Originally Posted by legion

1) Baby boomers loved cars. Millennials see them as appliances and just want them to driver themselves. (This one has been mentioned already.) If I were to invest in something now, I'd buy video games that will be "vintage" when the millennials age.

Unlike cars, where regulation changes mean that a manufacturer can't come out with their older model(in most cases); when it comes to games, if there is demand, they get made.

I can easily buy the computer games I was playing in the 90's.