| bdeutsch |
11-25-2008 03:43 PM |
Interesting Article in Today's WSJ (Personal Journal)
If you have an interest, there is an article in today's Wall Street Journal about the generally falling value of collectible cars.
Among others, it mentions that the value of Cobra replicas has fallen around 16% since June of 2006. Suggests that the upcoming auctions in January may be set to drive values even lower.
Not sure I am seeing evidence of this watching the asking prices of cars advertised here; of course there is always a difference between what somebody wants versus what they get I guess.
Bob
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| Got the Bug |
11-25-2008 04:08 PM |
It'll be interesting to see what the market looks like at Barrett Jackson in January. I bet they'll be a bunch of cars that don't hit reserve.
I'm guessing that their stats come exclusively from auctions vs. a survey of private sales. The number of replicas sold at auction is probably relatively small, so the % decrease in value may not be representative of the overall marketplace.
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| RodKnock |
11-25-2008 04:11 PM |
I'd stop reading the WSJ, if they think Cobra replicas are collectibles. :LOL:
I forget which auction does it, but all their auctions are without reserve nowadays. So you may see a bunch of cars, reserve or not, come up for sale in January (and beyond) due to margin calls on investor's brokerage accounts.
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| bdeutsch |
11-25-2008 04:12 PM |
Interesting Stats
Lists about 20 items; some specific models, some more general. Source of data quoted as being auction, state tax departments and insurance industry valuations.
As you said, Barrett-Jackson will be the one to watch in January to get a sense of how deep the hole might get.
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| ZOERA-SC7XX |
11-25-2008 05:39 PM |
Unlike classic car collectors, most Cobra replica owners (I believe) don't care what resale value the car has. I bought & built mine because I wanted a Cobra, not to make money. I don't have any interest in upgrading/downgrading to any other Cobra. I'm perfectly happy with my car and hope to own it for the rest of my life.
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| Randy Rosenberg |
11-25-2008 08:03 PM |
Quote:
Originally Posted by Got the Bug
(Post 900410)
It'll be interesting to see what the market looks like at Barrett Jackson in January. I bet they'll be a bunch of cars that don't hit reserve.
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All cars at BJ are sold without reserve - every car sells. |
| Got the Bug |
11-25-2008 08:43 PM |
Quote:
Originally Posted by Randy Rosenberg
(Post 900476)
All cars at BJ are sold without reserve - every car sells.
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BJ should be very interesting then.
Guess I've been watching too many re-runs of the Mecum Auction on HDT where..."the bid goes on." :LOL: |
| gene giambona |
11-25-2008 09:20 PM |
Based on the October BJ auction that took place in Vegas....prices for most collectibles are already on the decline...Jan. should be interesting to say the least. I'm sure Ron Pratt will be there with checkbook in hand %/
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