Quote:
Originally Posted by creaturecat
how low they gonna go?
reasonably decent drivers. not the garage queens.
my guess? down 25% presently. gonna descend another 25% within one
year. a general cooling of the market, in association with surreal
prices for parts, etc.
|
This will be a slow bleed. Sellers are still convinced it's 2017. Look at all the "I can't believe this didn't make reserve, it's worth at least $10K more" BAT comments.
There's an SC coupe with 200K miles for sale about an hour from me. It's been for sale since March or April (it's been so long I don't remember exactly when). He's dropped the price by $1000 3 times. Still asking about $5K too much and still says "PRICE IS FIRM" in his ad.
For a lot of old timers, they don't have to sell. They bought these for $9K, 20 years ago, so a lot of them will keep it rather than "give them away". But at some point, $20K in hand will start looking more and more inviting vs a car that's never driven sitting in the garage.