I'm with you Rob, Jeff and Joe.
Deusenbergs, Cords, Auburns, Bugattis, pre-war Bentleys, etc. all go up and down in price but you can look through the volatility and see them generally trending up. But how is that possible if the vast majority of the cars are owned now by people that can't possibly have been alive when the cars could be bought new? Why do you think they hold their value? I think they hold their value because they're beautiful, built by master craftsmen, are rare, represented the pinnacle of their day from an engineering and performance standpoint and remind people of a perceived "Golden Age".
Think about it...if you were in your mid-20s in 1955 you'd be pushing 75-80 today, you may not go out and buy a T-Bird, early Vette, Jag XK120 or Mercedes 300SL Gullwing, but there are plenty of people that were either wearing short pants or not even alive that would love to own one of them, me included.
Consider this, I was 2 1/2 years old when my ZL-1 was sent back to Norwood and my COPO left the same factory. It's not like I was there with Dennis Hartweg when the first two ZL-1s were delivered to LaHarpe. I don't even remember when I saw my first Camaro. So why do I like them so much and am I willing to pay "the big bucks" for them? It just so happens that my uncle, who some board members happen to know, is an Oldsmobile guy who had 3 or 4 Cutlass W-31 or 4-4-2 W-30s around in the late 70s/early 80s (still does). His cars were far cooler, faster, more visceral than any whistling, popping 930 Turbo or Ferrari Boxer that was new in that era (not to mention would leave them behind over a 1-2 block street race). I still clearly remember finding for the first time a place to hang on under the passenger seat by the frame rail when he stomped it -- I found that same place when Carl Stuber gave me my first panic ride in a Yenko at SCR5. I'm sure many of us have similar stories to tell as will other future, younger buyers of these cars.
Not only do my cars give me an emotional boost because of that, but I like what they represent: they're beautiful, built by master craftsmen (well, maybe not that part first time around), are rare, represented the pinnacle of their day from an engineering and performance standpoint and remind me of a perceived "Golden Age" (and I don't mean Flower Power).
I'm confident that these cars will continue to go up in value due to these factors. Maybe, like the stock market, many of us will hit a trough in the Supercar market when it comes time to sell, but over the long haul if you've bought the right car the trend should be up. Are there better investments? Without doubt. Are there more satisfying investments? Maybe. Have I found one that gives me the same mix of potential upside, emotional kick and entree into a fantastic community of friendly, interesting, knowledgeable, devoted and, in many cases, just down right good folk. Not even close.
