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OTOH, some big money collectors are not really effected by what most of us (me anyway) would consider a major financial hit. Most of the people that are active on these old car enthusiest sites think that what WE believe and post is the general thoughts of the entire hobby, but I don't believe it. When you look at the HUGH number of cars that are sold at these auctions anually it can't be ignored. However, time and time again I see people commenting on these sites that "that is not the real market" and things like "those people are crazy to pay that."
My feeling has always been that in most cases those buyers did not make all the money they are spending making bad business decisions.
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Possibly, but I think there's been a bit of... naivete in the collector car world in the last few years. Look at the drop in prices in 70 HemiCuda's, or 69 1/2 A12 cars for example. I think that there were a bunch of guys with money jumping into a world they didn't understand clearly, and paid anywhere from a quarter to a half mil for cars that struggle at $150,000 now.
Being wealthy didn't stop them from making a bad decision, it just meant they could recover from that bad decision much more easily than the rest of us. That's my story, anyway.
