Recently saw an article discussing aging baby boomers selling off their collections, causing a slump in the market. Just wondering about everyones opinions on this.
Recently saw an article discussing aging baby boomers selling off their collections, causing a slump in the market. Just wondering about everyones opinions on this.
Not a chance. When they all start to die maybe. But I have been on a prewar kick and they have not really done much but creep up.
Makes sense. Any time you flood the market with additional items, the market for them drops, the rarity ends, desirability ceases, and the prices go down. Cars, houses, coins, coconuts, all the same.
I can see where there is going to be surplus inventory of classic cars in the near future.
A lot of us boomers restored cars from our youth. We put a lot of money into them and created a collector market that then spun off a specualtive market.
Question is, who is going to want these cars when we are done with them? They hold no memories for most of the kids born in the 90's or later. They are not really transportation that yo would depend on to get to your new age minimum wage service job. For that matter, data shows that kids are abandoning driving as a luxury that they can no longer afford combined with a green guilt trip is they do own a car. So are they going to drive a hydrocarbon belching oil slick depositing classic?
So, while ZI dont expect a good deal on a Ferrari GTO anytime soon, the Camaros and MGBs are going to be plentiful in the near future.
There will always be automotive hipsters.
Ill be the first to convert a fiat 124 spider to electric when theyre smaller, lighter... mr fusion and hover conversion to follow
I’d like to see objective data on private aircraft values over time…I’m having more and more “wow, that’s cheap” experiences while perusing Trade-A-Plane.
I thought we just had this discussion a couple weeks ago...the prices of old cars go up and down, and as far as I can tell they're on the rise again.
Probably no chance of e-types and 911s dropping off anytime soon then? Like, this summer....
Many people with lotsa dough who don't give a rats ass or know the first thing about art buy art for status, taxation, and investment reasons. Collectible cars might fall into that category. I think it is an interesting point- Im 50 and the generations younger than me (for the most part) simply don't particularly car about cars. They may as well be choosing between toasters. Hopefully that fact will somehow eventually lead to the demise of bernie ecclestone.
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