[Healeys] Ugh

[Jean Caron]

Well, this will take the speculators out of the market for one. Another thing to remember is that a lot of the cars that go to these auctions are not that great when you actually go there and take a serious look at some of them. Many have been done in a superficial way just to get them to shine through the auction and then the problems start.

The really good cars with provenance will always sell and the demand and prices will remain high. But so often, at a place like Barrett-Jackson, you will see a car with dubious past with supposedly really low mileage, and the announcer will claim that this Camaro is one of only 20 painted that colour, that year and with a 4 speed. Pure BS, GM made 58000 Camaro that year period, nothing rare about it. When people realizes that these are only sale tactics, they also realize that they don't have a rare car, but it had an inflated price.

This correction in the market is long overdue and we will be left with those who really appreciate the cars for what they are, a fun thing to drive and enjoy while building memories.


Jean


________________________________
From: Healeys <healeys-bounces at autox.team.net> on behalf of Bob Spidell <bspidell at comcast.net>
Sent: January 17, 2018 1:34 AM
To: Healeys
Subject: [Healeys] Ugh

Happened to be watching the B-J auction on TV and came across this,
which confirmed what I thought I was seeing:

https://wolfstreet.com/2018/01/16/classic-collectors-cars-drops-more-than-during-financial-crisis/
[https://wolfstreet.com/wp-content/uploads/2018/01/US-classic-cars-hagerty-2018-01.png]<https://wolfstreet.com/2018/01/16/classic-collectors-cars-drops-more-than-during-financial-crisis/>

Asset Class of Vintage Cars Drops More than during 2008/2009<https://wolfstreet.com/2018/01/16/classic-collectors-cars-drops-more-than-during-financial-crisis/>
wolfstreet.com
But this time, there’s no Financial Crisis, and no QE in sight.



I realize we're all enthusiasts, but it was always a bit easier the pull
the trigger on a big order to Moss or DWR when I could tell myself "At
least it's an appreciating asset."

Bob

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