Re: 69 Z28 RS JL8 Crossram car listed at BJ auction
I'm well aware of the website I'm posting to...I am only pointing out what a lot of people already know..When a group hypes a certain marque and the cars are sold amongst themselves, thereby creating a "ghost" market sooner or later the bubble burst, and the cars come back to what the actual value is. There are a lot of very knowledgable people here, but conversely there are a lot of the same people that for the last 3 years have been hyping the Yenkos, COPO's, and the like and artifically inflating the market. If the market wasn't inflated then there wouldn't be discussion of collectors having to buy their car back at auction. Case in point the blue/RS Z..I have not personally seen the car, but have no doubt it is a superb car..Is it worth more than what the seller had to pay to buy it back. IMHO no..if it was then there wouldn't have been a need to buy it back in the first place. The mainstream would have recognized the value and the car would have sold. Especially given that the auction draws people from all over the world, and is well regard (rightly or wrongly) as the premier auction for classic cars. If we agree that the rarer, higher horepower cars are always going to be collectible at what point do we take into account the people that most likely will substain their prices not buying anymore. Do you guys really feel that the musclecar as we define it will be collectible in 20 years and more importantly will the rate of appreciation be on par with the time factor? This is not only a problem here but a problem elsewhere in the hobby as well.
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