End of the road for the classic car boom?
Discussion
SEE YA said:
My own view is other things come first in life, wife,kids,house.Then as we all get older,and a bit more settled we get that classic car we always wanted.
You are correct with your priorities of course. Although i will probably avoid convertibles when I am an old git for fear of looking daft! 
k-ink said:
SEE YA said:
My own view is other things come first in life, wife,kids,house.Then as we all get older,and a bit more settled we get that classic car we always wanted.
You are correct with your priorities of course. Although i will probably avoid convertibles when I am an old git for fear of looking daft! Enjoy the car with a smile.
There's a lot sense written in this thread, I'd say the uncertainty of Europe has stalled things, It will be interesting to see what happens after the 23rd.
On the flip side, some cars were just too cheap, and are now at the prices they really should be. F355 for £40k a few years back? Manual low numbers Achingly beautiful Ferrari V8 for £40k is just too cheap. Bearing in mind the "new model" 488 is £250k!
Also, Porsche GT's are not even correctly priced from new. GT4 lists for £65k, GT3 for £100k, they have the pedigree and abilities to be £200k list, and they would sell!
Ultimately, who knows what will happen
On the flip side, some cars were just too cheap, and are now at the prices they really should be. F355 for £40k a few years back? Manual low numbers Achingly beautiful Ferrari V8 for £40k is just too cheap. Bearing in mind the "new model" 488 is £250k!
Also, Porsche GT's are not even correctly priced from new. GT4 lists for £65k, GT3 for £100k, they have the pedigree and abilities to be £200k list, and they would sell!
Ultimately, who knows what will happen
I think what will start to happen is the prices of the 90s stuff ie the grand turismo/playstation generation cars will start to go up in value.
People in there mid 20s who grew up with the gt games seeing all these different jap cars are in the position now to own them this is the group of cars that will go up in value already seen with stuff like the rise in prices of the Nissan gtr r32/33/34 etc.
Stuff like mx5 will steadly increase not huge amount but will hold and increase in value already happening less than 5 years ago getting good clean mx5 either uk or import under 1k was easy now not so. A lot of them have been broke for parts due to rust and also racing then you have the modified mx5 either done right or done to drift look etc there wont be many original mx5s around.
Heck ive scrapped around 15 mx5s in 5 years along with one now being a kit car but do own a nice vr ltd which will only go up in value.
People in there mid 20s who grew up with the gt games seeing all these different jap cars are in the position now to own them this is the group of cars that will go up in value already seen with stuff like the rise in prices of the Nissan gtr r32/33/34 etc.
Stuff like mx5 will steadly increase not huge amount but will hold and increase in value already happening less than 5 years ago getting good clean mx5 either uk or import under 1k was easy now not so. A lot of them have been broke for parts due to rust and also racing then you have the modified mx5 either done right or done to drift look etc there wont be many original mx5s around.
Heck ive scrapped around 15 mx5s in 5 years along with one now being a kit car but do own a nice vr ltd which will only go up in value.
When I saw the £175,000 red Ferrari 575, I knew the world had gone mad. http://www.edinburgh.ferraridealers.com/en_gb/used...
Bubbles etc here's how to recognize them.
People buying stuff because:
1) They will only go up in price.
2) Because they are so expensive already so lots of people must want them and see 1) again.
3) Blinded by the above 1) and 2) and never giving a thought to the inherent desirability of an item.
1) No, otherwise an MGB should be worth around £3m and rising, there will always be a limit
2) No, they are expensive because lots of people think that 2) is correct
3) Precisely, speculative buying is so completely not about the object that is being bought.
Speculative buying, creation of a bubble, is when an object's value has no direct relationship to its inherent desirability, or to put it differently, its main desirability is its present and future value.
I could sell you a pebble from my garden, and promise to buy it back off you for twice what you paid. You would pay me absolutely any asking price, as you know that you are on to a winner. I could then sell it to someone else, who, hearing about how you made pots of money off this pebble, may be willing to pay me even more than I did you. And so on. Until no-one can afford this pebble, or the same thing is being done with a rock, and a spade, and a petunia plant, so there are not enough buyers for expensive pebbles, and the last guy in the chain suddenly realises that he is the desperate owner of a pebble that cost him £1m. As soon as people realise that that pebble just isn't selling at £1m, let alone above, its main desirability being its future value just disappears, and with that, its present one.
The fact that rather than a pebble the object in question is something that does have some inherent desirability is only a psychological placebo, only a group of extreme gamblers would play a game of the sort with a pebble, and it would probably end quite quickly, whereas with something that does have innate value the game goes on for much longer and involves a far wider spectrum of individuals. But it is still a game where all is well only for as long as it is still being played.
People buying stuff because:
1) They will only go up in price.
2) Because they are so expensive already so lots of people must want them and see 1) again.
3) Blinded by the above 1) and 2) and never giving a thought to the inherent desirability of an item.
1) No, otherwise an MGB should be worth around £3m and rising, there will always be a limit
2) No, they are expensive because lots of people think that 2) is correct
3) Precisely, speculative buying is so completely not about the object that is being bought.
Speculative buying, creation of a bubble, is when an object's value has no direct relationship to its inherent desirability, or to put it differently, its main desirability is its present and future value.
I could sell you a pebble from my garden, and promise to buy it back off you for twice what you paid. You would pay me absolutely any asking price, as you know that you are on to a winner. I could then sell it to someone else, who, hearing about how you made pots of money off this pebble, may be willing to pay me even more than I did you. And so on. Until no-one can afford this pebble, or the same thing is being done with a rock, and a spade, and a petunia plant, so there are not enough buyers for expensive pebbles, and the last guy in the chain suddenly realises that he is the desperate owner of a pebble that cost him £1m. As soon as people realise that that pebble just isn't selling at £1m, let alone above, its main desirability being its future value just disappears, and with that, its present one.
The fact that rather than a pebble the object in question is something that does have some inherent desirability is only a psychological placebo, only a group of extreme gamblers would play a game of the sort with a pebble, and it would probably end quite quickly, whereas with something that does have innate value the game goes on for much longer and involves a far wider spectrum of individuals. But it is still a game where all is well only for as long as it is still being played.
996TT02 said:
Speculative buying, creation of a bubble, is when an object's value has no direct relationship to its inherent desirability, or to put it differently, its main desirability is its present and future value.
I could sell you a pebble from my garden, and promise to buy it back off you for twice what you paid. You would pay me absolutely any asking price, as you know that you are on to a winner. I could then sell it to someone else, who, hearing about how you made pots of money off this pebble, may be willing to pay me even more than I did you. And so on. Until no-one can afford this pebble, or the same thing is being done with a rock, and a spade, and a petunia plant, so there are not enough buyers for expensive pebbles, and the last guy in the chain suddenly realises that he is the desperate owner of a pebble that cost him £1m. As soon as people realise that that pebble just isn't selling at £1m, let alone above, its main desirability being its future value just disappears, and with that, its present one.
The fact that rather than a pebble the object in question is something that does have some inherent desirability is only a psychological placebo, only a group of extreme gamblers would play a game of the sort with a pebble, and it would probably end quite quickly, whereas with something that does have innate value the game goes on for much longer and involves a far wider spectrum of individuals. But it is still a game where all is well only for as long as it is still being played.
You mean Tulips??I could sell you a pebble from my garden, and promise to buy it back off you for twice what you paid. You would pay me absolutely any asking price, as you know that you are on to a winner. I could then sell it to someone else, who, hearing about how you made pots of money off this pebble, may be willing to pay me even more than I did you. And so on. Until no-one can afford this pebble, or the same thing is being done with a rock, and a spade, and a petunia plant, so there are not enough buyers for expensive pebbles, and the last guy in the chain suddenly realises that he is the desperate owner of a pebble that cost him £1m. As soon as people realise that that pebble just isn't selling at £1m, let alone above, its main desirability being its future value just disappears, and with that, its present one.
The fact that rather than a pebble the object in question is something that does have some inherent desirability is only a psychological placebo, only a group of extreme gamblers would play a game of the sort with a pebble, and it would probably end quite quickly, whereas with something that does have innate value the game goes on for much longer and involves a far wider spectrum of individuals. But it is still a game where all is well only for as long as it is still being played.
http://www.damninteresting.com/the-dutch-tulip-bub...
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