World Record Price for Yenko Camaro?

[sYc]

WOW!!

On a side note, this past weekend I was visiting with some one who is not into cars, but is into making $$$. He told me that according to several investment experts, musclecars is the #1 investment right now.

[whitetop]

Quote: On a side note, this past weekend I was visiting with some one who is not into cars, but is into making $$$. He told me that according to several investment experts, musclecars is the #1 investment right now


Same exact comments I heard in 1989 before the collapse of prices. Notice how many collections are now coming up for sale all of a sudden just in the last month??.. Barris, BoB McDorman collection out of Columbus (supposedly the largest Chevrolet collection in the world) come right off the top of my head.
These guys are not dumb. They are getting out while the getting out is good.

Article came out today about the pending "Housing Bubble" collpase.
Areas like Miami that were growing 20-30% per year in value have just suddenly very rapidly leveled off. The article said people who were waiting in line for 6 weeks at one Condo place that was under construction to get a unit last year now have a buyers market. Now there are vacanncies everywhere and "Vulture Capitalist" groups are the hottest investment trend being formed today. Groups of people are forming these "vulture capitalist" groups with $$ to buy properties at upcoming foreclosures for cheap.

My prediction is the drop in housing prices is going to really affect the car prices. I think they will coincide with one another.

[Late BrakeU2]

I think collapse is a dramatic forecast,but certainly a 10-15% cooling trend is both probable and healthy.Pedigree cars with paper will always be a good investment,even after the boomers pass through.The only thing that will trigger a "collapse" in the So Cal market will be a literal one-EaRtHQuAAKE-

[whitetop]

In certain hot areas of the country a collapse will the appropriate term. The areas known for flippers. People buying a house and selling it a month later for a $50K profit.

Anyway getting back to the cars I also notice all the mags pushing the high prices and how everyone know thinks their car is worth 100K

[12bolt]

Congratulations to the Buyer and Seller! What a Beautiful example of not only a Yenko Camaro, But an Excellent Restoration Job!! as for the talk of Housing Bubbles Bursting, That has been discussed for the last two years. it Has not happened yet. as long as interest Rates are under 10%, the market will remain the way it is. For Cars and Houses. in Philadelphia for example, the Real Estate Market has caught on FIRE! entire slums are being Bought paying $100K for Rowhome Shells! the Reason things may be cooling off in Florida is for the simple fact that it has been a Bonanza down there for so long that it had to crest at some point. watch for areas like, Texas, Oklahoma, and New Mexico to be the next "Florida" as the Baby Boomer's who continue to buy the Muscle cars of their youth also want warm Climates to retire to. Florida is now considered Crowded and Overpriced.

[camaromb]

If we only had a crystal ball... As far as Florida real estate, some areas are still strong. Sarasota county saw a 41% appreciation from Feb. '04 to Feb. '05. In march we toured some of the model homes in some golf course communities. A row of $3,000,000+ plus homes had remained unsold for months with the local papers referring to a 36 month supply of $3,000,000+ homes. In the last month half of these homes had sold. I guess like parts, all it takes is one to pay the "new" price and the perceived "value" goes up also. Another Condo project on the water near Englewood Florida was just listed with units starting at $900,000. The project is already 50% sold out within the first few weeks of announcement. Real estate is certainly strong in some Florida communities.
Mark

[Pantera]

Homes here in the Tulsa area are a real bargan if you compare them to some parts of the country.

They have been creeping upwards nowadays. In 1989 I picked up a one acre lot with a 5,000 sf house on it for just under $200,000. It has 45 large trees on the property and is about a 1/2mi from where the Shelby and Mustang guys have their big show here in Tulsa. The Power tour stoped just a mile to the south when it was here.

There are still a lot of good buys to had in this area and it is not a bad place to live. we get all four seasons and not too much of any one except perhaps the hot summer lasts a little longer than I would like it to.

Cost of living makes it a great place to retire to. Florida is just too hot in the summer. I agree with you that more people will be looking at places like OKla and surrounding areas in the future. Snow only is on the ground for a week or sometimes two here.

Pantera

[Stuart Adams]

I have felt for a while the economy in general (some areas are great and some suck)is average at best. It would be much better if we paid less out on welfare, criminals and prisons, etc.
As far as this car goes, what a beauty. I find it interesting that WW Muscle had the car listed for 12-18mo. with price around 150 or so and couldn't sell it and now it goes for 275K, go figure. I think cars are like the economy - if you find the right person wanting the right car chances are good you will see top dollar paid, just like a house of the same square footage is 100K in one place and 500K in another. Maybe the guy that bought it just sold a house and made 500K from an area where the economy is good!

[hvychev]

[ QUOTE ]
Anyway getting back to the cars I also notice all the mags pushing the high prices and how everyone know thinks their car is worth 100K


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Highly doubt you will see prices of Real Estate drop.....level off maybe but drop???

[Belair62]

[ QUOTE ]
Anyway getting back to the cars I also notice all the mags pushing the high prices and how everyone know thinks their car is worth 100K

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I just don't get this statement...translate please