1970 Yenko Deuce

[redeuce]

As a Classic Car appraiser, my advice to you would be to thoroughly clean the vehicle and consign it to a high line auction within the next 6-9 months. The rare investment, numbers matching classic market operates on somewhat of a pyramid method. It begins at a broad base, with vehicles priced low and everyone buying, and (like a pyramid) as the prices rise, the buying pool shrinks. There have been two other “equalizations” in classic car history, and I believe the third one is inevitable. The first were the pre and post war cars, that were skyrocketing in the late seventies and early eighties. With the introduction of the muscle cars, that market dropped and never did recover.

The second was in the late eighties, when muscle car prices went through the roof. The equalization that occurred decimated the market, and it took several years to recover. I still remember the gentleman that bought the Fathom Blue LS6 convertible from a classic dealer for $150,000 in the late eighties. A few years later, he had no takers at $90,000. It took several years for him to finally recoup his money. A rule of thumb- when the investment vehicle market prices the product out of the hands of Joe Public and into the hands of only a small group of collectors, the equalization occurs. This is due to the fact that after the small group is done swapping and acquiring vehicles, there is no one left with the financial means to buy them. I believe we are approaching another equalization. The problem is, you have no advance warning- it just happens. The collectors that purchased at the lower end of the pyramid and sold at the high end are winners. Those who purchased at the top of the pyramid are going to suffer some, the degree of suffering being unknown. Those financially secure enough to sit on their cars can always weather the market fluctuation.

When you hear comments that some cars sold for “stupid money”, that is a clue. The two partners that formed B/J were honorable and reputable men- you could always view these auction results as an indicator of the market-no more. The circus atmosphere and grandstanding has nullified B/J as an indicator of anything. If you want top dollar for your vehicle, I’d sell it in the near future.

[Belair62]

People paying high prices for these cars are buying them because they want them...B/J is only an outlet for that. Circus and all. Prices don't equate to what happens there. Very low production and rare muscle is always going to be expensive until guys my age retire and move to Florida. That won't be for a while ! Middle of the road cars is where people are paying too much...by people trying to tap in on the B/J hype.

[budnate]

[ QUOTE ]
People paying high prices for these cars are buying them because they want them...B/J is only an outlet for that. Circus and all. Prices don't equate to what happens there. Very low production and rare muscle is always going to be expensive until guys my age retire and move to Florida. That won't be for a while ! Middle of the road cars is where people are paying too much...by people trying to tap in on the B/J hype.

[/ QUOTE ]

I see more people around here interested in muscle or be it a early car with mags and some other touches of any sort..due to ?? who knows...but they are grabbing up middle of the road drivers fast and playing with them...then the old supply and demand thing kicks in..if its fairly clean with minimal rust they sell fast...and it looks like that trend online as well...

I have non car people that know I love cars mention BJ more and more in conversations at kid functions etc...the money has gotten a lot of people excited one way or another..or at least asking whats going on...and maybe that old heap there husband has buried in the garage since they were married may be something after all...

[Mr70]

My 91 year old grandmother,who doesn't even know what day it is says:
"That Barrett Jackson boy is doing alright for himself."

[Late BrakeU2]

[ QUOTE ]
People paying high prices for these cars are buying them because they want them...B/J is only an outlet for that. Circus and all. Prices don't equate to what happens there. Very low production and rare muscle is always going to be expensive until guys my age retire and move to Florida. That won't be for a while ! Middle of the road cars is where people are paying too much...by people trying to tap in on the B/J hype.

[/ QUOTE ]

Exactamundo!

[Stuart Adams]

I agree with ya Bob. The expensive rare cars are dragging up the prices of the average stuff, those cars will take the hit first, if ever IMO.

Prices of EVERYTHING is wild. A patient just bought a second house on the beach in Southern California for 2 mill, bulldozed the old house, and is rebuilding a new house on the lot!!! Just like the nice rare cars, they aint making beaches anymore!! People will pay top dollar for the GOOD stuff, IMO.

[redeuce]

That's exactly my point- the middle of the road drivers are coming back strong. They have been dead for a few years. The reason the middle of the road drivers are picking up is the average buyer is once again priced out of the collector car market. Back in the mid nineties we were selling first gen Camaros and all Chevelles for $20,000, no matter what was under the hood. This time around, Joe Public has leaned more toward affordable day 2 cars, old race cars, etc. That demand will obviously drive the price of those cars up accordingly, just as it did before. Then at some point, everything is going to equalize, beause all old cars become overpriced. Bob, you are a younger Baby Boomer- there is a good percentage of Boomers that have already packed up for warmer climates. I hope you are right and prices keep climbing. But as an appraiser and seller of muscle cars for 11 years, I see something brewing down the road.

[TDW]

If I read you right, are you saying a guy with a couple of pretty nice muscle cars should start thinking about selling them, before they have a big drop in value?

[Belair62]

[ QUOTE ]
But as an appraiser and seller of muscle cars for 11 years, I see something brewing down the road.


[/ QUOTE ]
There is always something to look at down the road..but trying to figure out how long the road is would be a hopeless excersize.I know I am at the younder end of the baby boom...but there are a zillion of us all wanting the same cool stuff.


T...with all due respect ...I wouldn't exactly go running out selling everything based on his opinion.

[Stuart Adams]

So are you telling all your customers that your cars are overpriced and they should not buy them.

The reason the average Z28 is 50K and up is because the rare stuff has pulled them up. If the markets take a stumble the average high production cars will fall the most and the rare stuff will be ok, IMO. Also people that can only afford the high production cars are not stupid all of the sudden, they probably realize that its stupid money to spend big bucks for a high production car just because of the market being pulled up by the rare stuff. In the end they still view it as average everybody has one car but at a high price.