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State of the car collecting hobby

Started by Bill Hedge CLC 14424, November 12, 2009, 07:55:21 PM

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Bill Hedge CLC 14424

The recent issue of "Old Cars Weekly" has an interesting article concerning the state of the hobby.  Please see the article that appears in the below web address (copy and paste in your web browser window).

www.oldcarsweekly.com/article/state_of_the_hobby/

Richard Sills - CLC #936

Thanks, Bill, that is an interesting article.  I have attended several auctions recently, and my observation is that top-quality cars are still bringing strong prices.  Unlike other material goods, the supply of excellent vintage cars is very limited. 

In 1987, a sharp decline in stock prices was followed by an increase in the value of antique cars.  It is possible that the recent experience of declining stock prices and real estate values will cause a strengthening of the collector car market.   Even if you look at this as a hobby rather than an investment, you still want to know that your capital is invested in something that will retain its value if and when you decide to sell.

The Tassie Devil(le)

People will always buy collector cars, whether it be for Investment, Personal Use, or even Money Laundering.   Just look at all the Police Auctions involving Money Laundering and Drug Seizures.   Collector Cars.

When the Banks are going bad, investing in cars, and other such commodities, there is no way the Taxation Department can get you for it, and until there is a way of taxing the buying and selling of cars, it will keep on going.

Bruce. >:D
'72 Eldorado Convertible (LHD)
'70 Ranchero Squire (RHD)
'74 Chris Craft Gull Wing (SH)
'02 VX Series II Holden Commodore SS Sedan
(Past President Modified Chapter)

Past Cars of significance - to me
1935 Ford 3 Window Coupe
1936 Ford 5 Window Coupe
1937 Chevrolet Sports Coupe
1955 Chevrolet Convertible
1959 Ford Fairlane Ranch Wagon
1960 Cadillac CDV
1972 Cadillac Eldorado Coupe

Jim Salmi #21340

Bruce, never underestimate the resourcefulness of the tax boys and politicos.   >:D

However, it will be interesting to watch the collector car market if the much anticipated inflationary wave hits the American economy in a year or two.  At least with a car, you can see (hopefully) most of what you're getting for your money.  That's more than you can say for most Wall Street "investment" vehicles.
1952 Cadillac Series 62 Sedan