Re: 1970 Ls6 Convertible
Morris,
I think it is more of an issue because the current boom in musclecars followed the largest boom in traditional investments. The same guys paying 150k for a Yenko Camaro are the same guys 5 years ago dumping tons of money in the market..That tanked and hasn't fully recovered so they are looking for a windfall elsewhere..If the accounting scandals of 2 years ago and other events that surpressed the market wouldn't have happened, we probably would have already seen the turn down already IMO..At what point is it too much,...keep in mind that the people willing to pay 275k for a Chevelle are the same people here..Put these cars onto the open market via auction or outside of a website devoted to it and see what it does..That in my opinion is a truer sense of "market value" If these cars (or really any car) were great investments they would be easily specualted all the time..look historically and what do you see..The market crashes in 1987..musclecar and other "commodites" go up..the market recovers and prices fall..the market tanks and prices on muslcecars go up...when the market rallies and people realize the only ones paying 275k for certain cars are their buddies then they will bail out as well..the musclecar hobby benefited from baby boomers that grew up with them and the prices reflect disposable income..If you want to see if they are true investments wait til the guys in my generation (30's..) are willing to pay 250k for one..I highly doubt we will as a whole..The true test of a solid investment in my mind is one that stands the test of time and market...real estate, art, gold, etc.. It becomes a domino effect when one gets out they all will..the Ferrari F40 was way over specualted as most modern "high speed low drag" cars are..The market prices now reflect the over specualtion..Keep in mind at that time it was still a brand new car...that was governed by all new car laws..they depreciate..
|