Quote:
Originally Posted by Lee Stewart
With the Dow Meltdown, many average investors have probably seen their "Toy Money" disappear. Less buyers in the market. Sellers may pull back cars and wait to sell unless they absolutely need the money.
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The interesting thing for those of us that went through the 1987 crash and were into these cars back then, is that the prices for quality cars went up in the period after the market crash. This was due to the "investors" who decided to exit the stock market and buy up tangible collector assets (cars)- something they could actually enjoy, versus the intangible stock market investments. While the market was still floundering, these cars were being bought and flipped rapidly. For example, the price of a Hemicuda (or Challenger) Convertible doubled with every transaction.
A couple months after the November '87 crash, in early 1988, I bought an unrestored 19,000 mile red, 1971 440+6 Cuda ragtop for $25K. I sold it a couple months later to Steve Juliano for $38K. (the same one that sold for $1,155,000 at Mecum Indy '19).
https://www.mecum.com/lots/SC0519-37...a-convertible/
Now would be the prime time to be shopping for the quality cars.