: Antique cars are going for cheap right now...



"G$"
05-11-08, 11:21 AM
I was watching this cart auto auction on TV last night and they had amazing cars going for cheap and people kept pulling the reserves and they were selling.

I saw a 1972 Corvette Stingray that was mint sell for $16,500. I was like: :bonkers::hitit:. I saw 3 straight cars sell for hardly anything.

Considering that these aren't daily drivers, and you might not be driving it very much, just on nice afternoons, the reduced car price more than pays for the higher gas prices.

buyer's market...

Destroyer
05-11-08, 06:32 PM
I think they will fall a whole lot more.........especially the old Mopars, geez. I've got pretty much all the Car Craft/Hot rod and Popular Hot Rodding magazines from the 80's and I get a kick out of reading the classifieds. Check these out for example (Hot Rod, 1986):

'70 Challenger R/T convertible, plum crazy, P/S, P/DB, A/T, A/C, 440 Six Pack, Dana 60 with Magnum hood and magnum 500's, heavily optioned. $6500

'69 Corvette, 435hp 427, auto radio delete, 19,000 miles, red, bone stock $15k.

From Jan '87 Hot Rod:

DICK LANDY'S PERSONAL 1970 CHALLENGER RT/SE. Specially built by Chrysler for Dick as a PR car for Dodge performance clinics. 40k miles on 440 Magnum, auto, fresh air fiberglass hood, leather, six way seat.......................................better than new. $12,500

'70 SS 454 Chevelle, 4 speed, red/black stripes, black interior, cowl induction, $7,000

'70 Challenger R/T 440 Six Pack, 4 speed, original owner and paint, stored, 27,100 original miles, excellent, $10k

'70 GTX, dual quad HEMI, one of 43. Classified 100 point car by National Hemi Owners Association. Perfect original, unaltered. Loaded with options $16,000


These old cars climbed in value around the same time the real estate market started to boom 10 years ago, give or take. Just speculation but it seems like there was a lot of home refinancing going on and there was plenty of wealth to spread. Many finally had the money to purchase the old muscle car of the youth/dreams but drove the prices to absolutely insane levels. Much like real estate, the prices seem to be falling sharply.

Spyder
05-11-08, 06:45 PM
Well that certainly isn't good for me and my Challenger...

TexasCadillac
05-11-08, 06:55 PM
I think we will see a big decrease in the value of used Cadillacs also. I noticed the Fleetwoods selling for less on ebay now. I hope to get a clean 96 FW with a sunroof when the prices bottom out.

dkozloski
05-11-08, 06:55 PM
The auto auctions on Speed channel have been bringing disappointing prices for quite some time now. Some are down 50% or more from previous sales.

Destroyer
05-11-08, 07:08 PM
The auto auctions on Speed channel have been bringing disappointing prices for quite some time now. Some are down 50% or more from previous sales.The proverbial sh*t has hit the fan in the housing market and the impact is affecting all sorts of markets. If you have cash, its gonna be a great time to buy ANYTHING soon. :cool:

dkozloski
05-11-08, 07:14 PM
The proverbial sh*t has hit the fan in the housing market and the impact is affecting all sorts of markets. If you have cash, its gonna be a great time to buy ANYTHING soon. :cool:

Or bury your cash in a tin can in the backyard.

Destroyer
05-11-08, 07:20 PM
I think we will see a big decrease in the value of used Cadillacs also. I noticed the Fleetwoods selling for less on ebay now. I hope to get a clean 96 FW with a sunroof when the prices bottom out.
Its not a luxurious Cadillac anymore, now its a big gas guzzling POS. Seems thats the way most look at anything large with a V8 now. The prices will fall accordingly but they weren't really that high to begin with. The car is too new to be collectible. I love the Fleetwoods too but I do a lot of driving and with gas being what it is Ill pass for now.

96Fleetwood
05-11-08, 10:45 PM
I just sold a '72 Vette Convertible for $32.5K

Sold a '76 Eldorado Convertible last month for $13.5K

in the last 2 months.. sold one Buick Roadmaster sedan and two wagons for over $4K each.

I use ebay and craigslist and none have stayed for longer than 3 weeks.

They must not know how to sell....

Goodluck finding a "cheap" clean "POS" Fleetwood!

"G$"
05-11-08, 11:20 PM
If you have cash, its gonna be a great time to buy ANYTHING soon. :cool:

cash is king

"G$"
05-11-08, 11:22 PM
I just sold a '72 Vette Convertible for $32.5K

Sold a '76 Eldorado Convertible last month for $13.5K

in the last 2 months.. sold one Buick Roadmaster sedan and two wagons for over $4K each.

I use ebay and craigslist and none have stayed for longer than 3 weeks.

They must not know how to sell....

Goodluck finding a "cheap" clean "POS" Fleetwood!

can you post a pic of your old 76 eldo convertible??

caddycruiser
05-11-08, 11:27 PM
I think we will see a big decrease in the value of used Cadillacs also. I noticed the Fleetwoods selling for less on ebay now. I hope to get a clean 96 FW with a sunroof when the prices bottom out.

I've noticed this too. Quality ones still are holding some value, but overall not to as high of levels as before...but still not too low. I have to get mine sale ready and listed (as I've said for months if not a year), and get the process rolling. I think. TBA.

The ones that are less than stellar will probably continue to drop, but those that aren't should stay pretty steady.

Overall, the collector market has sagged a bit, for sure, for various reasons. Gas being one and just people not going as nuts with their credit lines, etc. to keep buy and keep all these classics just sitting around anymore--the latter is a biggie.

96Fleetwood
05-11-08, 11:39 PM
Here was the '76 Eldo I sold, nice car but not 10/10 quality:

http://i169.photobucket.com/albums/u222/angelatruck/Picture002.jpg


Caddycruiser can probably get $4-5K for his 1995 Fleetwood despite a mileage over 120K.

I guess overall the car market as a whole has died down, but the car enthusiasts I know are not holding back and I have had no issues selling these big V8 cars that are under $6,000.

Recently my Father and I have made some good profit selling Antique cars (especially convertibles) to Sweden and then selling late model Ranger Rovers, Mercedes MLs, Infiniti FXs, and Chevy Trailblazers to the Middle East. The dollar is a good buy for them right now..

Destroyer
05-12-08, 12:22 AM
Here was the '76 Eldo I sold, nice car but not 10/10 quality:

http://i169.photobucket.com/albums/u222/angelatruck/Picture002.jpg


Caddycruiser can probably get $4-5K for his 1995 Fleetwood despite a mileage over 120K.

I guess overall the car market as a whole has died down, but the car enthusiasts I know are not holding back and I have had no issues selling these big V8 cars that are under $6,000.

Recently my Father and I have made some good profit selling Antique cars (especially convertibles) to Sweden and then selling late model Ranger Rovers, Mercedes MLs, Infiniti FXs, and Chevy Trailblazers to the Middle East. The dollar is a good buy for them right now..So you hold a dealers license again?. Good for you on the exports but I'm not talking exports I'm talking about classics losing value HERE, which they are. I know the dollar is a worthless piece of paper everywhere in the world so if I try to sell my car I'll try to sell it in Pakistan or something. Never called a Fleetwood a POS either, read the post again, just said it aint old enough to be a desirable classic.

caddycruiser
05-12-08, 11:42 AM
So you hold a dealers license again?. Good for you on the exports but I'm not talking exports I'm talking about classics losing value HERE, which they are. I know the dollar is a worthless piece of paper everywhere in the world so if I try to sell my car I'll try to sell it in Pakistan or something. Never called a Fleetwood a POS either, read the post again, just said it aint old enough to be a desirable classic.

Don't think anyone ever claimed them "POS", just stating a trend.

Overall, like said again, many older cars are seeing some fluctuation and at this point the 90's Fleetwood isn't a true antique, but is now bought by collector'ish people--lots of us, for example, and many who still also drive them regularly. And some that don't, as they are the classic/cool toy.

Lots of different vehicles are seeing changes in their value & desirability right now, and as I said, classics (of any variety...ancient, somewhat old, etc.) aren't as overly popular as some other times due to gas, credit line, etc. constraints. Except for the "above and beyond" market who continues to buy whatever, whenever regardless and who keep things rolling.

dkozloski
05-12-08, 12:04 PM
There are those cars that are desireable no matter what their age and then there are those that have no value until they become so old that their mere existance as a historical object makes them interesting. In the first category are the Duesenbergs, and the Packards. In the second category are the Nashes and the Plymouths.

EcSTSatic
05-12-08, 12:08 PM
I plan to sell my fuel sipping '95 Escort for $6K - just kidding :stirpot:

I~LUV~Caddys8792
05-12-08, 12:30 PM
Jeez, it won't be long until I can buy a '70s Lincoln Mark IV for just hundreds of dollars!

C&C
05-12-08, 12:40 PM
The Classic Car market had been artificially inflated (IMO) for the last couple of years; maybe an adjustment is occurring. However, if you guys have been watching the same Barrett Jackson Auction that I've been watching, I certainly haven't seen much if any decline; those prices have been very healthy, very healthy indeed.

Highway Star
05-12-08, 02:43 PM
Oil prices seem to be doing fine!

AMGoff
05-12-08, 04:27 PM
C&C hit the nail on the head... let's hear it all together now - market corrections. The prices of many things have been far too inflated for a while now thanks to the fairly feeble policies coming down from the very top. While no one likes to hear the "R" word... it's a much needed mechanism for our type of economy - it'll hurt for a little while, but we'll come out of it on firmer ground.

Destroyer
05-12-08, 07:03 PM
C&C hit the nail on the head... let's hear it all together now - market corrections. The prices of many things have been far too inflated for a while now thanks to the fairly feeble policies coming down from the very top. While no one likes to hear the "R" word... it's a much needed mechanism for our type of economy - it'll hurt for a little while, but we'll come out of it on firmer ground.
Well said:thumbsup:

dkozloski
05-12-08, 09:11 PM
The Classic Car market had been artificially inflated (IMO) for the last couple of years; maybe an adjustment is occurring. However, if you guys have been watching the same Barrett Jackson Auction that I've been watching, I certainly haven't seen much if any decline; those prices have been very healthy, very healthy indeed.
The last couple of auctions I saw, there were cars that had ben auctioned before that went for less than half of what they had drawn in previous sales.

MauiV
05-12-08, 09:28 PM
As James Carville would say, "Its the economy, stupid"

Now if I could just find a Maggie on the cheap and the price of med school would plummet all this would do me some good.

dkozloski
05-12-08, 09:39 PM
As James Carville would say, "Its the economy, stupid"

Now if I could just find a Maggie on the cheap and the price of med school would plummet all this would do me some good.
Can't you go to med school in Grenada?

caddycruiser
05-12-08, 09:58 PM
C&C hit the nail on the head... let's hear it all together now - market corrections. The prices of many things have been far too inflated for a while now thanks to the fairly feeble policies coming down from the very top. While no one likes to hear the "R" word... it's a much needed mechanism for our type of economy - it'll hurt for a little while, but we'll come out of it on firmer ground.

Very much agree. Maybe it isn't as much of a sag as it is a natural re-adjustment, in many ways--certainly sounds valid.

Destroyer
05-12-08, 10:41 PM
The last couple of auctions I saw, there were cars that had ben auctioned before that went for less than half of what they had drawn in previous sales.You saw the same ones I did. Even the commentator at Barrett Jackson was surprised at the low prices some cars were fetching stating that similar cars in similar condition were fetching twice as much earlier.

dkozloski
05-13-08, 03:03 AM
There was some super special antique collectable classic that had sold for nearly five million that drew a disappointing $1million+.

MauiV
05-14-08, 12:36 PM
Can't you go to med school in Grenada?

Hell, I barely graduated HS. Med school is for the wife.

The funniest thing I have seen on Barret Jackson was the guy that bought a Boyd Coddington, trucked it straight to the auction but it didnt make the stage until near the end of the night on Friday when all the Big Monies wives had already drug them to dinner. He ended up with half of what he paid for the car.

No sympathy for the stupid.