Quote:
just carl:"As a person with several old cars, just not true. And right now since 2 of my cars are convertibles and it is snowing out, guess what they are worth?"
Most people don't drive true collector cars (of
any body style) when it's snowing!
This is why winter is always the 'bargain' time for buying a collector car, regardless of the economy.
I cashed out a ton of stock in 1999 to restore my old "finmobile", which is now worth more than double its 1999 value, and the stock I sold is now worth 25% of what it was worth in 1999!
Quote:
And who is buying?
That is the important question! Even last year, I couldn't drive the car without at least one person offering to buy it from me!
Agreed, if I
had to sell the car right now, its 'real-world' selling price would be less than it would have been last year.
I keep track of what similar cars to mine sell for on
ebay, and based on the ending bids in the last 2 months, I'm
still much better off than I would be if I had kept my stock.
My car might be worth about 80% of its 'peak' value (based on current
ebay final bids), but that totally
whips the stock I sold, which is now worth just 25% of its 'peak' value.
And that's why people are still buying numismatic coins. Most aren't really expecting 'key' collectibles to
gain value in bad times, it's rather that they expect them to
lose a lot less value (and recover faster) than the Dow.
First Page
Posted 11/21/2008 12:17 pm
