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Asking prices these days.

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  • #61
    Because I'm not on the business, I think I'd feel guilty if I ever sold a car at a profit, not there is any danger of that.
    The President is dusted off and ready for the Tri-Spokes tour in May.
    So + several to posts 59 and 60.

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    • #62
      Originally posted by JimKB1MCV View Post
      Because I'm not on the business, I think I'd feel guilty if I ever sold a car at a profit, not there is any danger of that.
      The President is dusted off and ready for the Tri-Spokes tour in May.
      So + several to posts 59 and 60.
      The secret to making money on a car is to never spend any real money on it. Spending any more than $500 to $700 on a paint job is sure to help you lose. Don't worry about the paint prep, over spray on all the seals and gaskets, and adhesion. That can all be the next owners problem. A wrinkle here and there in the wrong interior material is no big deal. And chrome? Fa-git-aboud-it~! $100 spent here and $500 spent there may make a very nice car but you will never get it and a profit back.

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      • #63
        Kenny and I speak the same language, he just moves a great deal faster then I do. I just find what I like, or learn to like what I have, and stick with it. Trading quickly is a dynamic that I understand, but my nature has never allowed me to master. Trading up, or selling quickly for profit, has always been hard for me. Many years ago I determined that I was better suited for the long run. If something special became available, I would add it to the collection. Being satisfied has it's own rewards. Money can't begin to replace the fifty five years of memories, and the fact that the memories can all be relived, with a short walk to the shop building, priceless!

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        • #64
          To elaborate further on Colt45sa's original post, in my experience at least, Studebakers were always expensive cars to buy.

          When the cars were new, they were often price-uncompetitive with Ford, Chevy, etc. The dealers knew that only so many people were going to buy Studebakers anyway, so they saw no need to discount the cars as much as the competition was doing.

          Their high dollar depreciation as used cars (at least while Studebaker was still building cars...more about that in a minute) did make them good buys as used cars.

          Then, I got my drivers license in 1970 but couldn't save up enough to buy a Studebaker as a hobby car until 1974. By then, here in PA, rust had taken most of the good ones and the ones left were relatively high-priced (for the time). And by that time, the people who still had one to sell took the tack of "well, they don't make these anymore, so they have to be worth a lot." I recall looking at a '63 GT Hawk for sale in 1975 that had rusted out front fenders and floors, and the car dealer telling me "Yup son, them thar Stooo-deee-bakers are collectors items now", etc. I think he was asking $900 for what was then a $200 car. The numbers sound low now, but they weren't back then. Of course, as I mentioned, I was in the rust belt. Looking at ads in Turning Wheels at the time, I was amazed at the better condition cars available elsewhere in the country.

          And as time went on, we all know how the prices gradually rose.

          So, it still comes down to: How badly do you want a certain old car and is it worth it to you to pay the price? To me it's worth it. I love old cars and have always owned one. Sometimes more than one at the same time. And there are still some good deals out there, but you have to search hard and be patient.

          The only ones who really made out like a fat rat on Studebakers were the people who had property, barns, or some place to keep them, and they bought a bunch of them in the 1964 to 1970 time period when the sellers were just driving them out until they were used up. You could take such cars, sit on them a few years and then make a nice profit re-selling them.

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