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I have been wondering about this for some time. The last bad recession, it seems to me that hobby car prices {I dislike the word 'collector car'} dipped quite badly. As gas goes to 4 bucks and then to 5 and 6, what will happen to the value of our rolling art?
 

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I have been wondering about this for some time. The last bad recession, it seems to me that hobby car prices {I dislike the word 'collector car'} dipped quite badly. As gas goes to 4 bucks and then to 5 and 6, what will happen to the value of our rolling art?
It will sit in the driveway...
 

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did it dip badly, or did it go through a correction? A lot of folks just got so carried away, buying a car and flipping it for double digit profit in a year or less, the bubble had to burst eventually. A lot of us are into cars because its a hobby, not for profit. I do pick up stuff when its cheap enough and will flip parts to fund my hobby. I have noticed some stuff just doesn't sell as quick as they use to. jim
 

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People seemed to be reasonably happy with the latest Mecum auction results. I think that people were expecting a big drop in prices but it didn't happen. For us every day folks, we're not in it to make money, so we aren't out there flipping our cars all the time. We'll just keep them and drive a little less. Double the gas price, drive half as much. Pretty simple formula that works for us.
 

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I think it is, I have seen cars in my area getting cheaper.
 

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i was at an auction last week, out of aprx 75 cars, i think about 5 sold, some would not get off their res., which was prob to high to begin with
 

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did it dip badly, or did it go through a correction?
I can see a political career in your future. A " correction"? Lets call it what it is, were are not in the media.
 

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Selling my 68 and not getting many hits-dang economy :(
 

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I've got cash in my hand, waiting for the right car(s) to come long.
 

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Yeah, if I get my Elky squared away I'll still be able to afford to drive it to the car show this summer. The one just across the highway at the park.:sad:
 

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Problem is..The cost to restore a car is going up up up! So people are expecting to get more out of there investment. When you start adding up 6-10K paint and body, 3-10K drive train, plus everything else, The "value" put into your car, not including your labor starts pushing upper 20's to 30K +.
Not saying that most are in it for profit...but you can see why people are still wanting $$$ for there cars.
 

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I think people think these cars as a "investment" is where they get themselves into trouble. basically nobody pays new prices for used parts. Once you order the part from Summit/Jegs/Ground up etc. basically you have a used part on your hand. Same with labor, Figure 50% return or less on labor, Paint? only guy making money on your $10000 paint job, is the painter. If you can't do most of the work yourself, your probably going to be disappointed when it comes time to sell.
Only reason im into my cars so cheaply, is I wheel and deal for parts. Do most all my labor, Not painting them saves a bunch of money and worries too. jim
 

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I sold my 69 chevelle for a very small profit 2 weeks ago. My 66 will stay parked in the garage if I can't afford to drive it.
 

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I don't know where prices will go. It will affect us all though whether a collector or just an "enthusiast". One thing's for sure though, times will have to get very bad for me to give up the hobby altogether like I did for a while back in the 70s!!!:sad:

I'm thinking this might be a good time to take Ol Paint apart and do a proper frame off restification. I've put 30,000 miles on the "frame on" restification and I have totally enjoyed every mile I've put on it. My paint and body knowledge/skills have improved so I think I could right some wrongs by putting some new paint on it. That would keep me off the streets burning gas for a while.;)
 

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I have a feeling that prices may come down a little bit- and you will see a lot of $20k-$30k cars get snapped up by rich folks who aren't hurting for money, but didn't want to spend $30-40k for them the last couple years- then when the economy turns around again the prices will be even higher than before.

Downturn in the economy is always the best time to buy stuff, and the wealthy are usually the only ones in a position to invest in a downturn.

My car is pretty much parked for the season now, except for race days if i can get the go-ahead from the wife
 

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For us every day folks, we're not in it to make money, so we aren't out there flipping our cars all the time. We'll just keep them and drive a little less. Double the gas price, drive half as much. Pretty simple formula that works for us.
Everyday car nuts, sure... I'll keep my car and drive less, although it has honestly made me think more about mileage then outright power... I always tell my friends that I would still have my cars, even if it was the uncool thing to have...

But I think, IMO, there are alot of people in this hobby that aren't real hard core car guys... There are the guys that like cars, and right now (or maybe last year) think its a cool hobby to have... Guys that jumped on the craze, and maybe now realize they can't afford it, or can't justify the expense, or just tired of it...

IMO, true hobby car prices seemed to have dropped noticibly in the past few months...

Not talking show winners, or ultra-rare, high dollar auction queens, to me those aren't "hobby" cars. What I'd call "hobby" cars, are anywhere from fairly nice cars to complete projects... Typical cars you'd see at a cruise night or local show...

I don't see a drop in available cars for sale, just lower prices and longer selling times...

I think gas prices are only a small part of the reason. I think even with cheap gas, the prices would still drop because of the general economy. Alot of these "hobbiests" are now having trouble justifying such an expense.

My biggest problem is trying to avoid buying something else for a good price, when I don't have the time for another project...
 
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