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Thread: 2017: 35,000 collector cars exported from U.S.

  1. #1
    Golden Hawk Member BobPalma's Avatar
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    We've got to quit saying, "How stupid can you be?" Too many people are taking it as a challenge.

    Ayn Rand:
    "You can avoid reality, but you cannot avoid the consequences of avoiding reality."

    G. K. Chesterton: This triangle of truisms, of father, mother, and child, cannot be destroyed; it can only destroy those civilizations which disregard it.

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    President Member ndynis's Avatar
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    Interesting. Thanks for the post.
    Nick

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    President Member Colgate Studebaker's Avatar
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    It's unusual timing for this post Bob. My brother passed away this February and his prized '63 Avanti R2 was just picked up this past Friday, headed to Germany. I did a complete restoration on this car, taking 5 1/2 years of my spare time, and it is a beauty if I say so myself. My brother wanted it kept in the family if possible and I had first dibs on it, but it was just unlucky (for me) timing that a fellow from Germany saw it at the last show of the season last fall and he wanted it much more than I did/could. My daughter in law took videos of it leaving so now it's onto my other projects. Bill

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    Speedster Member
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    35000? And three of them are now with me

    With the salvage cars there is probably a lot of fraud here in Europe.
    I read a report about it. Cars written off by insurance are bought in the US, then cheaply repaired in Europe and sold as good used cars. The buyer do not get the information that the car counted in the US as a total loss

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    Golden Hawk Member 8E45E's Avatar
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    That has been happening for several years with British vehicles, especially the sports cars. It is evidently cheaper to locate a nice rust-free car from California and ship it back to England and convert it to RHD than it is to restore a local rusted out example.

    Craig

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    President Member t walgamuth's Avatar
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    This trend will probably reverse when the dollar gets strong again.
    Diesel loving, autocrossing, Coupe express loving, Grandpa Architect.

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    On a related note, (and no offense to our Aussie Stude Brothers) some years ago there were some Australians who made several trips to the US buying up European motorcycles.
    I sold them my 250 Ducati, which had languished in the "Thrifty Nickle" for months..
    Apparently they'd hit Calif, reserve a shipping container, buy a used full sized van and flatbed, and start driving & buying.
    According to some those Aussies are THE reason for the derth of old European cycles in the Mid-West.

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    That's a reflection of the new weaker dollar. The process is bound to continue as the dollar continues to weaken, in the face of anticipated inflation. The sad part, as far as the collector car market is concerned, is that it is not reversible. The glut of collector cars in this country, is more then matched by the pent up demand overseas. The weak dollar is just the extra incentive needed to speed up the process.

    Overseas the overriding factor is only partly economic. These cars are considered to be a national treasures, in these countries. Buyers are more then willing to buy at a premium, and pay the additional shipping costs, and sometimes import duties. Especially on the W Coast, we find that we a bidding against an overseas buyer for the best cars.

    I watched with interest to see if the strong dollar, over the major part of the previous decade, would reverse the trend, or even reduce the overseas flow. I was somewhat surprised to see that neither happened. In the first place the overseas owners were reluctant to let their treasures go, and second the American buyers seemed unwilling to inter into the bidding on anything, but the best, and most special cars.

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    This shouldn't be a shock to anyone. While Americans have done everything possible to make the collector car hobby out of "chic" the past 20 to 30 years, the "elite" in these overseas areas have licked their chops at taking their piece of the action. Country of Origin for the vehicle doesn't matter. They became "cool" because of their success in the U.S. And, that's where the Mother Lode of supply ended up.

    I think overseas collectors have been taking their best shots at getting what they want, taking advantage of a decade long American economic slump. As Americans recover and are willing to bid up these units, it will equalize. Where most of these units transact, the strength of the dollar has almost nothing to do with their transaction price. These are the best of the best, going to the highest bidder. Overseas buyers have legitimately had more confidence the last decade.

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    Golden Hawk Member 8E45E's Avatar
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    We should just be thankful there are buyers for them, regardless where they happen to live.

    Craig

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    Speedster Member Stude Shoo-wop!'s Avatar
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    Hmmm...I wonder where this will leave the Independent marques of Studebaker, Packard, Nash, Hudson, AMC, Kaiser, Willys, and International? Knowing the foreign market, I'd imagine the large portion of overseas demand of American classics will largely consist of Big Three stuff but I could be wrong.
    Jake Kaywell: Shoo-wops and doo-wops galore to the background of some fine Studes. I'm eager and ready to go!

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    President Member (S)'s Avatar
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    Weak dollar? That's not what I saw on the last 5 year average chart....

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    The dollar has been strong over the last decade. My point exactly, that in spite of the strong dollar and our strong economy, the outflow of collector cars continued. it has only been the last year that the, especially the first quarter of this year, when it began to go into free fall.

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    Of course, the dollar was weak the last few years.
    You can see it within the linked statistic. From 2014 to 2017 the dollar was extremely weak, 2018 it gets a little bit stronger.
    https://www.dollarkonto.com/wp-conte...Dollarkurs.jpg

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    Quote Originally Posted by Stude Shoo-wop! View Post
    Hmmm...I wonder where this will leave the Independent marques of Studebaker, Packard, Nash, Hudson, AMC, Kaiser, Willys, and International? Knowing the foreign market, I'd imagine the large portion of overseas demand of American classics will largely consist of Big Three stuff but I could be wrong.
    Back in 2007, I sold two Renault (Alliance) GTA coupes to a Gentleman living on the Cote d'Azure in France! They were very rough, but, complete project cars and they each went for about $100 on ebay. Evidently it was a model not sold in France. American Hot Rods!

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    President Member Gunslinger's Avatar
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    In 2016 I sold my '69 Corvette L71 convertible to a Jaguar designer who had it shipped to the UK. He planned on driving it to Classic Le Mans.
    Poet...Mystic...Soldier of Fortune. As always...self-absorbed, adversarial, cocky and in general a malcontent.

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    Speedster Member avanti-hawk's Avatar
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    The Canadian dollar is at least 20% cheaper for Euro's than the US $. So quite few cars are being exported to Europe from here. I have friends from Sweden who love the big 50's and 60's 4 door sedans. They will pay fair market value, as the cars just languish around here waiting for a local buyer who will usually offer about 25% of value. Mostly GM, Chrysler and Ford.
    The independants don't have as much of the market.

  18. #18
    President Member packardHawk58's Avatar
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    The US dollar is not weak, it has been trading up and down from 71 to 75A ( that's Aust dollar) depending on what Mr Trump happens to say on the day.
    So if I buy a car for 10,000 US it cost me another 2500 on top. This adds up when you are buying more costly cars like Corvettes , plus the cars coming into OZ at the moment has slowed up cause of the Asbestos checking fines being implemented.
    I have freighted 60 Studes over the years and a heap of Corvettes but now I am only buying in project cars that are stripped down to avoid the asbestos B.S !
    It will be a long time before we see dollar for dollar again!
    Brian Greenall
    Melbourne, OZ

  19. #19
    Speedster Member Santosh's Avatar
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    I think buying a car in USA is not a matter of a strong or weak dollar. I purchased several classics and friends are doing the same because of the better offers of cars. Studebaker is very rare in Europe , hard to buy and hard to sell. The last 30 years it had been the "California Rust Free cars" - with many fairytails - which returnd to Europe (now they come from Japan). But if you look for a Mustang, Corvette, Buik etc. there are much more offers in the States than in Europe (and still cheaper - with 2500 on top for transportation). The change rate is only important in the minute of money transfer.
    Walter

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    I know there are two sides to the issue, and I certainly dont want to offend anyone, but I personally think that our
    classic cars should not leave the country. Hundreds of thousands have left already. Few will return. All this does is destroy our cultural heritage, and make cars harder to buy here as well as more expensive. Our kids and grandkids wont be able to
    enjoy the hobby in the same way that we do.

    I remember reading a quote somewhere that goes something like this:
    "They came with guns to take our posessions and we fought them to the death.
    They returned with money, and we gave them everything".

    I dont think truer words were ever spoken.

  21. #21
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    "2017: 35,000 collector cars exported from U.S."

    Don't worry. Soon will will be importing all those "wonderful" cars from Cuba.
    '64 Lark Type, powered by '85 Corvette L-98 (carburetor), 700R4, - CASO to the Max.

  22. #22
    President Member t walgamuth's Avatar
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    On reflection I should more accurately called the dollar soft rather than weak.
    Diesel loving, autocrossing, Coupe express loving, Grandpa Architect.

  23. #23
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    Your soft dollars are no match for my Brexit battered pounds! As a result one of your under priced (hopefully not to rusty) Studebakers are headed to England where it will be subjected to the indignity of being driven on the left side of the road... Mohahaha (evil Norwegian/British laugh)

    It must be a good sign that people enjoy classic cars both in and outside the US. If anything I have put a few grand into the US economy over the last years buying Corvair parts.. I expect I'l be doing the same with the GT

  24. #24
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    Quote Originally Posted by packardHawk58 View Post
    The US dollar is not weak, it has been trading up and down from 71 to 75A ( that's Aust dollar) depending on what Mr Trump happens to say on the day.
    So if I buy a car for 10,000 US it cost me another 2500 on top. This adds up when you are buying more costly cars like Corvettes , plus the cars coming into OZ at the moment has slowed up cause of the Asbestos checking fines being implemented.
    I have freighted 60 Studes over the years and a heap of Corvettes but now I am only buying in project cars that are stripped down to avoid the asbestos B.S !
    It will be a long time before we see dollar for dollar again!
    I understand they might look for black widow spiders or a family of Racoons in the trunk, but Asbestos... Thats madness

  25. #25
    Speedster Member avanti-hawk's Avatar
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    I sent another car to Sweden today. Being loaded into a container this week. A very nice 1962 Oldsmobile Starfire coupe. Drove it in heavy traffic, on one of the hottest, high humidty days in a few years and it performed very well in spite of the heat. The 394 Ultra High Compression engine wasn't too happy with the pump gas 10 % ethanol regular unleaded soup that is served up at the local Ontario stations but I kept my foot out of the ping zone.
    If you are asking why did it go to Sweden???
    They are willing to pay what these cars are worth. No one around here was even close on their offers, after it had been advertised several times.
    I'm going to send my 1963 GT Hawk over later this month after it gets a good tune up and sorted out for the trip.

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