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Where the other end of the car market is taking the asking price...

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  • #31
    'Just thought of another "instant collectible" of which there are likely many more squirreled away with no miles as an "investment" than the market will ever bear for making a profit: 1990 Chevrolet 454SS pickups. They will benefit slightly from the growing interest in light-duty trucks in general, but they probably weren't a good buy at sticker plus a premium and then never used. BP
    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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    • #32
      And 1989 ZR-1 Corvettes.

      Craig

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      • #33
        Originally posted by Dick Steinkamp View Post
        Bob,
        You certainly know the market and have confidence in your picks. I guess I don't understand why then you are recommending that others purchase that 57 Chevy that left 18k on the table, and that 60 Dodge that can be flipped in a month or two for a 20k profit, and that 65 Chevelle that can make a quick $110k, and the LS6 that was worth 40k more than it sold for. Why are you not buying then reselling these cars? Why settle for just a finder's fee or commission when you can have 100% of the difference between the buy and the sale?
        The answer should be obvious- money. I only have so much. It might be hard to understand limited funds on you world, but it’s a reality in mine. Otherwise I would have bought all the cars I mentioned, and several others. But, I have to settle for the next best thing- find these deals for others. I already have all the money I can muster in some nice stuff.

        It’s surprising to me that I would have to explain that. I’m sure it was a real question, not just being snarky just for the sake of snarkiness.
        Proud NON-CASO

        I do not prize the word "cheap." It is not a badge of honor...it is a symbol of despair. ~ William McKinley

        If it is decreed that I should go down, then let me go down linked with the truth - let me die in the advocacy of what is just and right.- Lincoln

        GOD BLESS AMERICA

        Ephesians 6:10-17
        Romans 15:13
        Deuteronomy 31:6
        Proverbs 28:1

        Illegitimi non carborundum

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        • #34
          Originally posted by BobPalma View Post
          'Just thought of another "instant collectible" of which there are likely many more squirreled away with no miles as an "investment" than the market will ever bear for making a profit: 1990 Chevrolet 454SS pickups. They will benefit slightly from the growing interest in light-duty trucks in general, but they probably weren't a good buy at sticker plus a premium and then never used. BP
          That is another one. I see them come along fairly frequently.

          Here’s a few of the worst I’ve seen as bought new and stored:

          2005 Thunderbird
          98-02 Monte Carlo
          Plymouth Prowler

          Good news is, all can be fun to own for low cost if you’re into them. Just not great as investments.
          Proud NON-CASO

          I do not prize the word "cheap." It is not a badge of honor...it is a symbol of despair. ~ William McKinley

          If it is decreed that I should go down, then let me go down linked with the truth - let me die in the advocacy of what is just and right.- Lincoln

          GOD BLESS AMERICA

          Ephesians 6:10-17
          Romans 15:13
          Deuteronomy 31:6
          Proverbs 28:1

          Illegitimi non carborundum

          Comment


          • #35
            Originally posted by Bob Andrews View Post

            The answer should be obvious- money. I only have so much. It might be hard to understand limited funds on you world, but it’s a reality in mine. Otherwise I would have bought all the cars I mentioned, and several others. But, I have to settle for the next best thing- find these deals for others. I already have all the money I can muster in some nice stuff.

            It’s surprising to me that I would have to explain that. I’m sure it was a real question, not just being snarky just for the sake of snarkiness.
            You don't have to buy all of those you mention at once. Maybe an inexpensive one to start with. The return on that one gets you a more expensive one next time, etc. If I had the knowledge and confidence that you have, I'd figure out a way to find the money to fund the first one.
            Dick Steinkamp
            Bellingham, WA

            Comment


            • #36
              Originally posted by Dick Steinkamp View Post

              You don't have to buy all of those you mention at once. Maybe an inexpensive one to start with. The return on that one gets you a more expensive one next time, etc. If I had the knowledge and confidence that you have, I'd figure out a way to find the money to fund the first one.
              Ok, so it is just snarkiness. Why are you assuming I’m not doing exactly that?

              Another thing you may not understand is someone doing what God has called them to do. I get to do what I’m called to, and love doing it. I love having a talent that does good for others.

              There’s enough to go around for everybody. That’s the business I’m in.
              Proud NON-CASO

              I do not prize the word "cheap." It is not a badge of honor...it is a symbol of despair. ~ William McKinley

              If it is decreed that I should go down, then let me go down linked with the truth - let me die in the advocacy of what is just and right.- Lincoln

              GOD BLESS AMERICA

              Ephesians 6:10-17
              Romans 15:13
              Deuteronomy 31:6
              Proverbs 28:1

              Illegitimi non carborundum

              Comment


              • #37
                Originally posted by Bob Andrews View Post
                There’s enough to go around for everybody. That’s the business I’m in.
                You do have a car you can start with according to some of your more recent posts. Let's see how well you can do at an auction with that Speedster this spring. If you double your money, then you can do as Dick Steinkamp suggests in his post, and buy another car to invest in.

                Craig

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                • #38
                  Have you noticed what nice VW Beetles sell for? Not much supply but high demand.

                  Comment


                  • #39
                    Thanks Dave,

                    I think Jerry Lewis drove on in "The Nutty Professor" filmed at ASU in 1963. One of the few movies my dad went to see at a drive in.

                    This has been an interesting thread.

                    I am reminded of the words of Thomas Tusser in a poem in 1557: “A foole and his money be soone at debate: which after with sorow repents him too late.”

                    Bob Miles

                    Comment


                    • #40
                      Long gone are the days when a car could be considered a long term investment. During the 80's and 90's almost everything was appreciating in value. Restoration costs in relation to appreciation were low. Today that relationship has completely flipped. IMHO there are two ways to make money selling cars. The first is to buy a desirable model, needing work, at a cheap enough price, and do the work yourself, with a budget in mind. I find this method so chancy, on so many levels, that I just could not do justice to what could go wrong. The second is to buy right, do as little work as possible and sell quickly. I can see holding on to some cars, in an inventory, for a limited period of time, but eventually a seller just has to cut bait and move on.

                      Today I view restoring a car as a financial dead end. I love the fact that people are still restoring, but the reasons for doing so include a whole different dynamic then making money. I'm a fine one to talk about making money on the old car market. I have restored, collected and enjoyed without regard to profit. I seldom sell a car, and my cars are no doubt worth less then what I have invested in them. At my age I couldn't care less. As an old friend likes to say "it's better then a shrink."
                      Last edited by Hallabutt; 02-24-2021, 08:38 PM.

                      Comment


                      • #41
                        Originally posted by Hallabutt View Post
                        Long gone are the days when a car could be considered cars a long term investment. During the 80's and 90's almost everything was appreciating in value. Restoration costs in relation to appreciation were low. Today that relationship has completely flipped. IMHO there are two ways to make money selling cars. The first is to buy a desirable model, needing work, at a cheap enough price, and do the work yourself, with a budget in mind. I find this method so chancy, on so many levels, that I just could not do justice to what could go wrong. The second is to buy right, do as little work as possible and sell quickly. I can see holding on to some cars, in an inventory, for a limited period of time, but eventually a seller just has to cut bait and move on.

                        Today I view restoring a car as a financial dead end.
                        Cost of materials for restoring a car has risen dramatically from 10-15 years ago, especially paint.

                        Some have asked about buying a car to restore and sell before:
                        https://forum.studebakerdriversclub....or-restoration

                        Craig

                        Comment


                        • #42
                          You don't have to buy all of those you mention at once. Maybe an inexpensive one to start with. The return on that one gets you a more expensive one next time, etc. If I had the knowledge and confidence that you have, I'd figure out a way to find the money to fund the first one.

                          Dick,

                          You have obviously chosen your projects well, seemed to have enjoyed the upgrade process, and when you chose to move on you did a great job of marketing. You were able to do enjoy the process as a hobbyist, which gives you the luxury of time and the resources necessary to carry the process to an outstanding conclusion. There is a good deal of luck involved in any choice made in today's market. IMHO the answer to making that critical mistake, regarding timing, is diversification. That way a guy like Bob can sustain that occasional mistake and keep his head above water.

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