exactly. No ban hammer until he actually spams
exactly. No ban hammer until he actually spams
Well, even though the original poster was a flake, his question is relevant.
Been playing in the rusty old car hobby for about 36 years. Now, being stubborn and not too smart, I have spent a lot of money doing so. Doing it "My Way" and "My Car".
What I have known for a long time is that I sell off projects for about 3/4 of what the parts are worth when I am done and subsequently bored with the thing. That frees me up to do the next project, and someone gets a good deal. Trust me, I am not the only one who does this.
So, you need to look at this investment thing a bit different:By buying a car that has been restored properly (key word here) and taking good care of it, you should be able to sell it five years down the road for what you paid for it.To me, that is a good investment compared to dealing with depreciation.
It has been my experience and observation that the only people who make money in this hobby are the ones doing the work. It is extremely rare for a collector to buy a car, turn around and sell it, and make money once all the costs are figured in (purchase, transport, maintenance, repairs, storage, etc...); Barret-Jackson has created some extremely unrealistic expectations. That only happens in the case of some one who got lucky on a "barn" find type deal or an original owner (or heir) who knows what they have and has taken care of it. The Market MAY sometimes come to a car but that's like trying to pick stocks with a dart board while day trading, you might get lucky, but its more likely you'll lose your shirt.
Anyway, this discussion is on the ClassicMOTORSPORTS forum, so a better question might have been what car can I buy, use and enjoy in some motorsport activity for a while, then sell and not lose my shirt?
Me? I will be REALLY happy to get back 10% of what I've plowed into my cars during my ownership.
Dave
cpdave wrote: Me? I will be REALLY happy to get back 10% of what I've plowed into my cars during my ownership. Dave
Dave, that's a good point. Actually what we are talking about here is a choice between a toy & a vocation or investment.
I have played with planes, boats, cars, motorcycles, Alpine & Nordic Skiing, computers, etc., etc. If I really ever totaled up the man hours worked + money spent + travel costs - sell price after the playing was done of any or all of my toys then cash wise investment wise I'm way way in the hole!
However I'd not change my choices for anything. Had I considered my toys investments, I'd have never enjoyed them so much. How many people do you know that have "investments" up on jack stands with the fluid drained hoping they'll make a killing? I know several.
Certainly some of my toy purchases were better choices than others & occasionally I even break even at sale time if you discount my man hours. But these are and were still my toys, not my retirement plans! I worked at my jobs, invested as wisely as possible, & am now happily retired, plus I still enjoy my toys. Not as many or as often as before, but I still enjoy what I have.
Growing up in the country where there was no city water we had a saying. "Why would anyone want to go to take a ---- & eat in the same house?
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