Musclecar prices and the possible recession
 

Just curious what everyone's take is on the Coronavirus effect possibly pushing the US and China into a recession as the markets are reacting negatively. The oil markets this morning dropping nearly 25% as OPEC increases production. All this reduces comsumers disposable income and could impact the musclecar hobby, pushing prices lower. In know here in Houston the economy is tied to the oil industry and when oil drops into the $30 a barrel range, the big companies stop drilling and spending in the short term. This trend could continue for the rest of the year.

That's interesting. I wonder how that negative to the oil industry affects the general population since they now have more disposable income because they're not spending it on gas. My bank relies a lot on the oil industry (heavily focused in Louisiana and some in Texas) so it may affect our bottom line to some degree as well.

If you look at the numbers though, CV isn't nearly as detrimental to the world as several prior viruses such as SARS and Ebola. Will be interesting to see how this all plays out.

Agree it’s going to be interesting how it all plays out. Wall Street has been taking it on the chin. Let’s see when it truly starts to hit Main Street. My 401k and retirement accounts have taken a hit. However I’m still currently working, so I don’t feel it in the my wallet yet. I had considered retiring this pass December and decided to plug along awhile longer. I am fortunate that I have paid sick time at work if it’s needed. Hopefully it won’t. There are plenty of people out there without paid sick time. That’s where it will become tricky. How many people can afford to stay home weeks at a time without a pay check. Scary stuff for sure. This is when it’s human nature to prioritize. Cars are a hobby. We will see. Let’s hope for the best, always need to plan for the worst. We will weather the storm. We always do. Rob

Saudi Arabia has gotten into a pissing match with Russia who refused to cut back on production. So SA has dropped the price of oil in an effort to gain back market share.

Saudis Instigate Oil-Price Clash With Russia

https://www.msn.com/en-us/news/world...cid=spartandhp

The Dow opened almost 1900 points down. This reflects the above and Italy putting tens of millions of people under lockdown in an effort to contain the virus

As far as muscle car prices . . . if things remain the same . . . what if they held an auction and no one showed up?

Today fear is running rampart. People are afraid to put themselves in large crowds. And that is exactly what an auction is.

Mecum's Glendale AZ auction starts two days from now. Let's see what happens.

Warmer climates have not seen a spike in the virus, however...

The general public is reacting to the virus in panic mode. Sales of Corona beer are down sharply yet it has nothing to do with the virus. It is simply because of the name of the beer. They are hearing that the % of deaths is higher than those from the yearly flu. If you look up the virus in AZ you see there are cases. 2 new ones in fact over the last two days.

All kinds of conferences, shows and gatherings are being canceled. There may actually be zero chance of anyone getting the virus at Mecum. But the public doesn't know this or is not willing to accept it.

That's because COVID-19 is killed by UV exposure in 2 seconds flat.

All Media driven at this point. When you are in a fight and you think you have hurt the other guy you keep hitting the guy in the same spot. The media delights these days in pushing the panic button and I have to give it to them they are pretty effective in stampeding people and pushing a narrative when they want to.

Is that accurate?