Quote:
Originally Posted by hardflex
on the one hand, I think Auction house prices are artificially inflated to drive up interest and profits, and are not a good indicator of the economy.
On the other hand, my Brother sold his 61 MB 300sl Roadster for 350K this year to a Dutchman.
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That's a good price only if the car was pretty ratty. If the car was a 2 or 2+ it would have sold for more than 400K
Euro in Europe.
The good exchange rate is driving foreign buyers to the US. I just came back from New York - where the entire city is packed to the rafters with Italian and Brits doing their Christmas shopping.
So if you are looking at last years collector car prices in the US and thinking of selling today, you need to increase the price by at least what the dollar has depreciated against the Euro and Sterling; then you have to increase by normal inflation figures, AND THEN you should increase by another factor that reflects the increased demand from abroad because of the weak currency.
These factors combined explain the dramatic increase in the value of seriously collectible cars in the US in the past little while.