Ok whats happening here, some have been finding a few good deals but not many, Everyone is saying the market is down but the prices are still up. With the sell prices still being high I dont see anything selling, I mean nothing, unless its liquidated.
I predict the worst is too come. The sellers are going to have to decide to lower their prices or keep their cars. I myself will keep mine but for the ones that have no choice but to sell, they better be ready to loose alot.

I predict the worst is too come. depends if your a seller or a buyer. lots of good deals to be found on items that people have over extended themselves on. Cars, homes boats. Cars are like everything else: homes, stocks, etc. the market has its highs and lows, If people bank on the market staying high, there living in a dream world.

Ok whats happening here, some have been finding a few good deals but not many, Everyone is saying the market is down but the prices are still up. With the sell prices still being high I dont see anything selling, I mean nothing, unless its liquidated.
I predict the worst is too come. The sellers are going to have to decide to lower their prices or keep their cars. I myself will keep mine but for the ones that have no choice but to sell, they better be ready to loose alot.

I think you have a lot of valid points Jim and there are a lot of reasons why things have changed, bad economy, job losses, housing depreciation etc. I also think a lot of guys who bought cars/projects in 04, 05 and the early part of 06 at the height of the boom days are going to be hit the hardest, if they need to sell. This being very similar to the housing market. Project cars especially will take the biggest hit. If someone paid for example 20K in 05, for what was at the time a good deal on a 70 matching numbers project and proceeded to dump another 8/10K in it and it's no where near finished, he's in trouble. What hasn't gone down but has gone up, is the cost of a full restoration and this is being reflected/deducted from what buyers are willing to pay for another project. When prices were skyrocketing on TV, a lot of people got caught up in it and some still are with their asking prices. I still think the correctly done cars are holding their own, a smart buyer can recognize quality and quality doesn't come cheap. It's very easy to dump 40-50K plus in a good restoration so the price of the starting point becomes very significant. I'm also sure in todays' economy a lot of sellers are upside down on their cars and they only have 2 choices, sell it and take the loss now or hold on to it, in hopes of better days.

. I still think the correctly done cars are holding their own,
Very True.
, sell it and take the loss now or hold on to it, in hopes of better days.
100% correct.
:yes:

...what Mike said..100%

for the right cars the market is still strong. a 64 pro-touring vette my buddy sold last year at Kruse for 81K just sold friday at carlisle for 90K. The money is still out there.

The longer it stays this way, the harder the final bang.

Be patient, this recession could easily last another 5 years.

Be patient, this recession could easily last another 5 years.
I thought bush had reached his term limit? NO more, I can't handle it anymore!!!

Quality still sells.

I had a guy approach me last week and inquire on my car, after I told him what I had into it his eyes got wide and he choked.

He said that there's another 70 Chevelle at the show he could buy for $40K.

I told him to go back to that car and take a good strong look at it, above and beneath. Scrutinize every nut and bolt and then come back and look at mine with the same scrutiny.

I told him if he can't see the difference then I would recommend buying the $40K car because all of the detail would be wasted on him.

I didn't think he would but he came back an hour later and I saw him crawling all over my car.

He said I was right and asked for my contact info.

Your simply not going to find highly correct, detailed, "Specialty Award" cars going for dirt cheap.

it's the "lot fillers" and the "builders" taking the real beatings.

I don't want to sell my car, but I'm thinking of putting it on E-bay just to test the theory.

nothing wrong with "lot fillers" :rolleyes: ;)
..its how the majority of people that don't have alot of money enjoy the hobby...you know, a #3 car...a good 10- 15 footer so to speak..or a car with real nice body/paint,but nothing is really correct under the hood compared to a car restored all stock.

Heck,I was recently at a large Chevelle/El Camino regional show and there was less than 10 cars that where totally stock/correct under the hood...and one of them was beautiful,all original one owner 68 L78 car :thumbsup:
The majority of the cars had aftermarket intakes,carbs,headers,MSD or an HEI,wrong master cylinder for the year,etc.

Are those lot fillers? Someones pride and joy? :)

I have seen many sellers stuck somewhere between "I could really use the cash right now", and "maybe I will just keep it a couple more years and hope the market rebounds" This leaves the buyer looking at many cars that do not reflect the current market, but rather the market of two years ago. I am also looking to pick up another project, but not until these sellers prices stop looking like the Barrett Jackson 2006 comp sheet. I am convinced we have not seen the worst as of yet,give it time, better prices are a comin.;)

It appears to me that the price of paint, primer, sand paper, body panels, trim and what have you hasn't dropped in price.

I'm not real sure on labor at body shops but I don't think that has went down, so as far as seeing a lot more drop in the price of a car, it might not happen. But I'm also guessing.

Rob

And I'll just keep drivin' my "lot filler" to shows.............what numbers match?

Can we compare muscle cars to the housing market???? New home prices here are record high. They say its the building cost. If you want a cheaper home by an older home built when the building prices were lower. It doesnt make since to me but its true in my area.
I always thought it was supply and demand. Maybe not.

Can we compare muscle cars to the housing market???? New home prices here are record high. They say its the building cost. If you want a cheaper home by an older home built when the building prices were lower. It doesnt make since to me but its true in my area.
I always thought it was supply and demand. Maybe not.

It looks like it depends on where you live, and it appears that where your at things are doing pretty good, but in the Detroit area they aren't doing to good.

I look at this guys cars every once in a while, and I know he's a little high on his prices, but he's never had this many Camaros and Chevelles for sale before. http://www.showdownmusclecars.com/inventory/3

Rob

There's still some Auction Flu (BJ - Mecum strain) still in the area. It's good if you're selling but not if you're buying. I'm waiting for cold weather to see if it persists...........

nothing wrong with "lot fillers" :rolleyes: ;)
..its how the majority of people that don't have alot of money enjoy the hobby... :) Somebodies pride and joy.


Now Chris, :D

I didn't mean "lot fillers" in a negative, demeaning context.

I didn't mean it in context of a "Correct restoration" by any means.

More specifically I meant it as a "matter of fact" referance to poor cosmetic quality as to relate to trends in value for these "Catagory X" cars.

Obvious evidance of poor body work, or pitted chrome, Surface rusted frames, greasy chassis components, worn interiors, etc.

The market is flooded with these "Driver quality" , "20 footer" , "builder project" "Catagory X" cars, and the large fluxuation in the downward trend in pricing seems more apperant in those types of cars.

Maybe it's simply supply and demand as the majority of cars for sale do fall into various levels of the "catagory X" cars.

I don't look down my nose at "drivers" by any means.

But to define it I guess you have to label it.

I guess nobody like it when you differentiate who they are or why they own and place them into "labeled catagories".

Drivers dosen't really fit as I consider any non trailered, non concourse restored car a driver, including my own.

So, we have:

20 footers
Lot fillers
Builders
Beaters
Cosmetically challenged

Whats the politically correct termonology? :(

Maybe I just need a sensitivity seminar. :D


Bottom line is I think the high quality restored cars, are seeing less of an impact of the downward trend as are the lesser quality cars, (whatever you call them) ;)

Can we compare muscle cars to the housing market???? New home prices here are record high. They say its the building cost. If you want a cheaper home by an older home built when the building prices were lower. It doesnt make since to me but its true in my area.
I always thought it was supply and demand. Maybe not.

I think a lot of buyers a couple of years back Jim, were hitting their HELOC's pretty hard to finance these projects. Now that most of those lines have been closed by the banks it's limiting the pool of potential buyers. Hence, a lot of supply and not as much demand. Buyers can choose to be very picky and look for just the right deal.

..wrong post

I agree 100%

When I say cosmetic quality, I don't mean correct details, or even numbers, I mean build quality.

Quality, regardless of correctness, retains value in this economy, to a certain degree.

However, while a "Custom restored car" (other than stock appearing) may not loose value significantly if the quality is there, it will loose the amount of potential buyers due to the varied personal taste of the buyers.

With a lesser amount of interested buyers it raises difficulty in the sale.

Aside from that though, I think we're debating on something we both agree on :D

High Quality always demands a premium.

for the right cars the market is still strong. a 64 pro-touring vette my buddy sold last year at Kruse for 81K just sold friday at carlisle for 90K. The money is still out there.
Going to Auburn this weekend??
I'll be there checking out the market. :D



Heck,I was recently at a large Chevelle/El Camino regional show and there was less than 10 cars that where totally stock/correct under the hood... :)

Which show was that, Chris?? I noticed about the same thing at the show I went to...Doesn't mean they weren't nice cars, just not super big $$ cars. :thumbsup:

John,I agree 100%

Dave,that was the NE Chevelle regional show...the two most correct 70 SS cars there was mine and a drop dead beautiful triple black LS5 car..

I look at this guys cars every once in a while, and I know he's a little high on his prices, but he's never had this many Camaros and Chevelles for sale before. http://www.showdownmusclecars.com/inventory/3

Rob

wow..talk about some seriously way over priced cars..he's not a little high..he's off his rocker...they are looking for suckers...there is a 71 SS on there for 44K that is the most incorrect and poorly detailed car I have ever seen for that kinda money :noway:

I'll be at Auburn this weekend with a Numbers matching 63 Impala convert 409 white black int. black top If you see it stop & say HI! car goes Sat afternoon

It looks like it depends on where you live, and it appears that where your at things are doing pretty good, but in the Detroit area they aren't doing to good.

I look at this guys cars every once in a while, and I know he's a little high on his prices, but he's never had this many Camaros and Chevelles for sale before. http://www.showdownmusclecars.com/inventory/3

Rob

wow..talk about some seriously way over priced cars..he's not a little high..he's off his rocker...they are looking for suckers...there is a 71 SS on there for 44K that is the most incorrect and poorly detailed car I have ever seen for that kinda money :noway:


Rob I here ya,,,,:sad:

Chris, You are right on the money. If you saw those cars in person you would really be stunned at the lack of quality. I have had the misfortune of looking at cars there for friends and it always ends the same way.:noway: