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

[BobPalma]

Hmmmm....and note the item about late-model salvage leaving the U.S!

https://journal.classiccars.com/2018/04/21/estimated-35000-classic-cars-shipped-overseas-u-s-last-year/?utm_campaign=04232018&utm_content=04232018_advertorial_newsletter_template_inve ntory&utm_medium=email&utm_source=zaius&zm64_id=Ym9iY2FyaXBhbG1hQGhvdG1haWwuY29t

[ndynis]

Interesting. Thanks for the post.
Nick

[Colgate Studebaker]

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

[gsx_martin]

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

[8E45E]

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

[t walgamuth]

This trend will probably reverse when the dollar gets strong again.

[skyway]

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.

[Hallabutt]

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.

[556063]

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.

[8E45E]

We should just be thankful there are buyers for them, regardless where they happen to live.

Craig

[Stude Shoo-wop!]

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.

[(S)]

Weak dollar? That's not what I saw on the last 5 year average chart....

[Hallabutt]

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.

[gsx_martin]

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-content/uploads/Dollarkurs.jpg

[qsanford]

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!