Musclecar prices and the possible recession

[Lee Stewart]

I believe it's going to be much harder to establish market value for any cars in the $50,000 to $100,000 price range especially as many auctions are either cancelled, postponed or online only. Using just the Mecum Glendale auction as a barometer isn't enough. Will Mecum have it's Houston auction (April 2-4)? B-J's next auction is Northeast Auction - June 24-27, 2020.

With the Dow Meltdown, many average investors have probably seen their "Toy Money" disappear. Less buyers in the market. Sellers may pull back cars and wait to sell unless they absolutely need the money.

[tom406]

The '67 GT500 isn't really a good barometer of that market. Its a good starting point for a COMPLETE restoration-as it will be an early inboard light, 4sp, dark blue/black GT500 when its restored correctly. But there's lots wrong including current engine (trans?), paint color, wheels (should have Magstars), and who knows how much hardware given the
choices made back when it was redone in the late 80s.

[Lee Stewart]

March 12th trucks lined up outside of Proctor and Gamble off of Route 6 in Tunkhannock PA - all trucks waiting for toilet paper and paper towels loads.

[njsteve]

Originally Posted by Lee Stewart

With the Dow Meltdown, many average investors have probably seen their "Toy Money" disappear. Less buyers in the market. Sellers may pull back cars and wait to sell unless they absolutely need the money.

The interesting thing for those of us that went through the 1987 crash and were into these cars back then, is that the prices for quality cars went up in the period after the market crash. This was due to the "investors" who decided to exit the stock market and buy up tangible collector assets (cars)- something they could actually enjoy, versus the intangible stock market investments. While the market was still floundering, these cars were being bought and flipped rapidly. For example, the price of a Hemicuda (or Challenger) Convertible doubled with every transaction.

A couple months after the November '87 crash, in early 1988, I bought an unrestored 19,000 mile red, 1971 440+6 Cuda ragtop for $25K. I sold it a couple months later to Steve Juliano for $38K. (the same one that sold for $1,155,000 at Mecum Indy '19). https://www.mecum.com/lots/SC0519-37...a-convertible/

Now would be the prime time to be shopping for the quality cars.

[Lee Stewart]

https://journal.classiccars.com/2020...y-coronavirus/

[Lee Stewart]

Dr. Anthony Fauci, the head of the National Institute of Allergy and Infectious Diseases, made the morning show rounds on Sunday, answering questions from news anchors about the ongoing outbreak of the novel coronavirus in the United States.

Fauci, who is considered the top expert on infectious diseases in the United States and is a member of President Donald Trump's coronavirus task team, spoke at length during appearances on Fox News Sunday, ABC's This Week, NBC's Meet The Press, and CNN's State Of The Union. In each appearance, he stressed the importance of containing and slowing the number of COVID-19 cases, the official name of the disease caused by the new coronavirus strain.

However, while speaking to Fox News Sunday host Chris Wallace, Fauci also listed three reasons why COVID-19 is different from the flu or another virus when asked by Wallace to explain it to those who might not understand.

"One thing, it's brand new, so we don't have any prior experience about what it's gonna do, what its dynamics are gonna be," Fauci said. "Number two, it spreads very easily, there's no doubt about that. It isn't like some of the outbreaks that we had that just didn't adapt itself to spread among humans. And number three, it's very serious in the sense of morbidity/mortality, particularly among, and very heavily weighted towards, individuals who are more susceptible — the elderly and those with underlying conditions."

https://www.msn.com/en-us/news/us/fa...cid=spartandhp

[Lee Stewart]

[Crush]

https://www.google.com/amp/s/www.bus...s-2020-3%3famp

[Crush]

There is a light!!!

https://www.google.com/amp/s/www.bus...s-2020-3%3famp

[Lee Stewart]

Well that's really great news.

Does anyone see the US taking the same draconian measures that China took? Personally I don't see it . . . yet.

IMO any of the actions states and the Fed are taking today are nowhere near enough to contain the pandemic.

China knew that it's economy absolutely depended on quick containment. Here in the US it seems any containment rules are half assed and won't really do enough to stop the spread of the virus. They are trying to stop panic by offering quasi containment rules.

We are not doing enough and it's going to show when the deaths in the US begin to approach those that Italy is currently experiencing and the entire country of Italy is on lockdown.

Look at that POP by Age chart I posted. 29% of our pop is highly susceptible. That's almost one out of every three people.

And keep this in mind . . . go to any hospital. They aren't sitting around playing gin rummy. They all have sick people who are sick by other issues, not by the virus.

Where is the response like we saw after 9/11?