[Excaliber]

The drop in prices started well before the current financial crisis, which now only serves to escalate a downturn. This started about the same time BDR came on the scene. Several things happened, in my opinion.

1. The idea that 'anything' goes when your building a replica Cobra. What ever parts, engines, spec's you want you could get, cheap. There was no concern about building anything 'period correct' because the cost was so high compared to what you could build with modern parts. Justification was not price but 'modern is better' blah blah blah. Which remains, again in my opinion, just a cover story for 'cheaper is better'.
2. More and more 'kits' were offered at ever lower prices and they continue to flood the market with relatively inexpensive replica's.
3. Replica's, having been around for so long means theres a reasonable supply of older versions at a nice price. Exclusivity is rapidly disappearing, lowering the price.
4. With the lower prices the market expanded to include those who in the past could not afford to get into a replica. Thus, a larger pool of potential owners, buying more cars, lowering the price even farther.

This is just my opinion on what's happening and continues to happen to the market. Good, bad, ugly, whatever, thats your call.