"Peak Value" for classic cars

ebv8 · 22-10-2021, 10:16 AM

so what are your thoughts on peak values for classic cars?

I kind of think they are here right now i can't see them going up any further
or will they go up until ev cars are all the rage, well until they are mainstream and the enthusiasts get behind them... car clubs, modifications, racing, shows

I'm seriously thinking about selling my BA GT, it just sits there and to me its too valuable to drive it daily or race it so i just start it weekly and drive up and down my driveway and wash it. I also have a HX Holden which i want to keep, its cool and only cost $47 a year to keep it registered, I also have a classic bike and I now have an AU race car.

So should I have a fully packed driveway & garage and keep my GT or free up some space and money and sell it while the market is hot?

I think the upcoming generation will keep the classic cars moving along but the generation after that (20 years time) probably won't be interested in these at all.

what do you all think?

**Polyal** · 22-10-2021, 10:29 AM

Its a bit like the housing market situation.

Personally its only going to be people buying them for throphies in the long term.

I too have thought about selling the ZF as I am pretty confident I would do alright...given the EV movement, increasing fuel prices, parts becoming harder to get and trades loosing skill its going to be an uphill battle.

IMO anyone who says any different is just dirty they pulled super to pay for some toys.

Citroënbender · 22-10-2021, 10:33 AM

I think the question is best addressed by examining where the money could work hardest and be relatively safe.

hayseed · 22-10-2021, 10:49 AM

I reckon It'll be another 20 Yrs before We Hit "Peak".. That's when the last of the Aussie Built Cars become eligible for Club Rego, & the Kids who Lusted after one when they were New or Current but couldn't. But will then be able to.

But, Time will tell.........

rare ss · 22-10-2021, 11:03 AM

It's hard to say, its like the old adage of shares "when mum and dad investors are buying it's time to sell"

I don't think we're there yet.. my thoughts are we're due for a correction but it'll take something drastic which will effect everything not just classic car values

I've been in the same boat, daily driving our FPV's isn't the best but life is too short to drive boring cars..

deesun · 22-10-2021, 11:16 AM

I would think do it yesterday. I reckon the main reason prices rose was because people were not spending on overseas holidays and are flush with cash. Lockdowns are ending flights overseas are starting cash will start going back to overseas holidays and in 12-18 months those buyers will have found out how much work is involved for little return and the Mrs will be wanting another holiday overseas. Down the prices will tumble.

Trevor 57 · 22-10-2021, 12:55 PM

Aussie made cars will keep increasing in value

simon varley · 22-10-2021, 01:30 PM

I'm not sure there is ever going to be a peak as such. values will go up and down with the economic cycle but these are a finite resource that is getting scarcer year by year and the demand will always keep prices trending up.

my little 69 veedub if probably worth three times what I paid for it six or seven years ago and it's a pretty average car really

I think this says a lot about how bland and average modern cars are

burnz · 22-10-2021, 01:47 PM

Quote:

Originally Posted by ebv8

so what are your thoughts on peak values for classic cars?

I kind of think they are here right now i can't see them going up any further
or will they go up until ev cars are all the rage, well until they are mainstream and the enthusiasts get behind them... car clubs, modifications, racing, shows

I'm seriously thinking about selling my BA GT, it just sits there and to me its too valuable to drive it daily or race it so i just start it weekly and drive up and down my driveway and wash it. I also have a HX Holden which i want to keep, its cool and only cost $47 a year to keep it registered, I also have a classic bike and I now have an AU race car.

So should I have a fully packed driveway & garage and keep my GT or free up some space and money and sell it while the market is hot?

I think the upcoming generation will keep the classic cars moving along but the generation after that (20 years time) probably won't be interested in these at all.

what do you all think?

me: i'd probably sell it..
or get my enjoyment out of it, drive it.. you can't take it to the grave!!

Mulva · 22-10-2021, 01:50 PM

Quote:

Originally Posted by ebv8

...
I think the upcoming generation will keep the classic cars moving along but the generation after that (20 years time) probably won't be interested in these at all...

When that next gen gets nostalgic and wants to re-live their youth they'll be seeking a hybrid Camry like the Ubers they used to ride in when they were young

290GTP · 22-10-2021, 03:12 PM

Quote:

Originally Posted by ebv8

so what are your thoughts on peak values for classic cars?

While the property market is red hot classic cars will follow suit

I kind of think they are here right now i can't see them going up any further
or will they go up until ev cars are all the rage, well until they are mainstream and the enthusiasts get behind them... car clubs, modifications, racing, shows
You can't buy these cars any more, supply and demand

I'm seriously thinking about selling my BA GT, it just sits there and to me its too valuable to drive it daily or race it so i just start it weekly and drive up and down my driveway and wash it. I also have a HX Holden which i want to keep, its cool and only cost $47 a year to keep it registered, I also have a classic bike and I now have an AU race car.

So should I have a fully packed driveway & garage and keep my GT or free up some space and money and sell it while the market is hot?
Only you can answer that one.

I think the upcoming generation will keep the classic cars moving along but the generation after that (20 years time) probably won't be interested in these at all.

Collectors will collect. E type jags, 57 Chevs, old sh1tboxes from the 30s and 40s still have a huge following

what do you all think?

I'd keep it.

Sprintey · 22-10-2021, 05:29 PM

Is it peak value? That's a tough one given the monetary intervention and scramble for hard assets that followed in the last 2 years.

I've been told not to sell the Sprint as Jr learned to drive manual in it, so it has history in our family now, memories. I imagine in a couple of decades it might be used to teach grandchildren how to drive manual

And it sounds horn

**thefargo** · 22-10-2021, 05:57 PM

I drive my XB coupe every chance I get. That is why I have it. Yesterday stopped in at a mates place, he had never been in it, went for a drive - he needed to go to the local post office. If I don't want to drive it any more it is time to sell. I am careful where I go, my rule is that I don't park it where I cant see it, so it doesn't go to shopping centres. It has never been an 'investment' rather a pleasure that (luckily) I can afford.

jstanovic · 23-10-2021, 01:19 AM

Anyone interested in working on cars has been pretty lucky until now. Modifying a hybrid/electric car will be nearly impossible for the DIY car enthusiast, I reckon anything that can be repaired/modified will always be in high demand.

oldel · 23-10-2021, 02:25 AM

Quote:

Originally Posted by jstanovic

Anyone interested in working on cars has been pretty lucky until now. Modifying a hybrid/electric car will be nearly impossible for the DIY car enthusiast, I reckon anything that can be repaired/modified will always be in high demand.

DIY enthusiasts are a dying breed, as are trades and parts supply.
How many of us have or work on really old cars - like 1910-40s etc? Knowledge, parts and will dies off at a certain point. I think the peak is now, particularly with covid pricing. Also covid gave us time to tinker and cheap fuel. That party is over as well.

I could be wrong and probably am, as investors and speculators are dumb so there's no sense to it all, but I think it's peak when they're snapping them up at insane prices because they think they're a good investment, like alluded before (ie, the markets goes down when serious collectors sell and the mums and dads by in high)

E: Cars have done very well over the past 5 years. I wouldn't buy into one now thinking you can do as well. Own a car because you like it. buy one because you want one. But you've missed out on 3x, 4x, 20x gains. If you have the garage then keep what you want. If you have the means buy the dream car and drive for a year and sell on etc. If you already have it then nothing to lose by keeping it. Just don't buy it thinking they'll always go up just like property as future generations aren't going to pay the big bucks. They don't swing spanners, parts availability gets harder as they age, same for mechs and knowledge. The future electrics will be faster, petrol will cost even more and they didn't buy housing at pre 1990s prices, so they can't afford a house and a classic car even at todays prices.

jpd80 · 23-10-2021, 07:03 AM

Fuel prices continue to push higher with $1.70 /litre becoming a lot more common,
so it makes me wonder where the tipping point is for people to turn against regular
petrol vehicles. Of course, everyone has a different situation with vehicle ownership
and usage but it’s making me think do I really need to keep that V8 car or cash in?

Franco Cozzo · 23-10-2021, 08:35 AM

When Boomers and Gen X die off anything local unique to our market like Falcon and Kingswood/Torana/Commodore will lose value, there's not many millennial car enthusiasts around and it's getting less common for the following generations like Gen Z to be interested in the hobby as the decades go by. I've met precisely two Gen Z car enthusiasts, one was into JDM and the other had a 2002 Tickford Mustang.

Plus government legislation could stop internal combustion engines in their tracks with a stroke of a pen depending on how quickly energy density of batteries improves in the following decades.

It'll be like that 1930s Buick Special I saw for sale in mint condition with a straight 8 - was only $25K, the people who worked on those or remembered them on the roads or had them as first cars are all dead or close to shuffling off this mortal coil.

Some 1930s cars are worth big money, Ford stuff but it's all because of the US market.

**FairmontGS** · 23-10-2021, 08:52 AM

Quote:

Originally Posted by ebv8

so what are your thoughts on peak values for classic cars?

I kind of think they are here right now i can't see them going up any further
or will they go up until ev cars are all the rage, well until they are mainstream and the enthusiasts get behind them... car clubs, modifications, racing, shows

I'm seriously thinking about selling my BA GT, it just sits there and to me its too valuable to drive it daily or race it so i just start it weekly and drive up and down my driveway and wash it. I also have a HX Holden which i want to keep, its cool and only cost $47 a year to keep it registered, I also have a classic bike and I now have an AU race car.

So should I have a fully packed driveway & garage and keep my GT or free up some space and money and sell it while the market is hot?

I think the upcoming generation will keep the classic cars moving along but the generation after that (20 years time) probably won't be interested in these at all.

what do you all think?

If you're not enjoying them, sell them. They won't go any higher. Stick it super and enjoy the annual trip to Italy instead in 10-20 years time.

If money isn't a problem, then keep them. Simples.

slowsnake · 23-10-2021, 08:59 AM

Quote:

Originally Posted by ebv8

so what are your thoughts on peak values for classic cars?

I kind of think they are here right now i can't see them going up any further
or will they go up until ev cars are all the rage, well until they are mainstream and the enthusiasts get behind them... car clubs, modifications, racing, shows

I'm seriously thinking about selling my BA GT, it just sits there and to me its too valuable to drive it daily or race it so i just start it weekly and drive up and down my driveway and wash it. I also have a HX Holden which i want to keep, its cool and only cost $47 a year to keep it registered, I also have a classic bike and I now have an AU race car.

So should I have a fully packed driveway & garage and keep my GT or free up some space and money and sell it while the market is hot?

I think the upcoming generation will keep the classic cars moving along but the generation after that (20 years time) probably won't be interested in these at all.

what do you all think?

No point in having a car as a trophy, otherwise you could buy a nice painting, hang it on the wall, look at it instead of worrying about it, but your decision, I think gold and silver are good investments, and I think uranium is a good future investment, everytime I go to a car and or bike museum, I find it depressing, the fact they are just sitting there, nice to look at but I would rather hear them, even if only for a minute to just watch a guy, get a bike ready and prepped to start, but you only look at the past, it's just a memory not a reality!

Franco Cozzo · 23-10-2021, 09:06 AM

Quote:

Originally Posted by slowsnake

No point in having a car as a trophy, otherwise you could buy a nice painting, hang it on the wall, look at it instead of worrying about it, but your decision, I think gold and silver are good investments, and I think uranium is a good future investment, everytime I go to a car and or bike museum, I find it depressing, the fact they are just sitting there, nice to look at but I would rather hear them, even if only for a minute to just watch a guy, get a bike ready and prepped to start, but you only look at the past, it's just a memory not a reality!

One of my customers was telling me about a bloke in Portland here in Victoria who is one of the only local tradespeople left who knows how to pour/cast babbitt bearings - he's in his late 80s.

That bloke has been on borrowed time for nearly a decade according to our average life span, when he keels over that's a unique automotive skill that's going to go to the grave with him.

Same thing with panel beaters - there's no young blokes coming in at the bottom and the experienced ones left have injuries from the nature of the work and doing it for decades or left the game because it's turned to **** because of insurance companies and their takeover of the industry.

It's even more likely given current circumstances we're going to lose a heap of these oldies as we open up everything.

slowsnake · 23-10-2021, 09:41 AM

Quote:

Originally Posted by Franco Cozzo

One of my customers was telling me about a bloke in Portland here in Victoria who is one of the only local tradespeople left who knows how to pour/cast babbitt bearings - he's in his late 80s.

That bloke has been on borrowed time for nearly a decade according to our average life span, when he keels over that's a unique automotive skill that's going to go to the grave with him.

Same thing with panel beaters - there's no young blokes coming in at the bottom and the experienced ones left have injuries from the nature of the work and doing it for decades or left the game because it's turned to **** because of insurance companies and their takeover of the industry.

It's even more likely given current circumstances we're going to lose a heap of these oldies as we open up everything.

Back in the late 70s in Sydney, my mate took his HR sedan to be sorted out at a panel eater in Bankstown, there was a guy there who could lead wipe panels or joints, this car had no bog, not one micron of plastic, all metal and lead where needed.

I walked over to the lead wiper, mainly because it intrigued me and I was very interested in his process, only a small repair shop, there were about a dozen panel eaters in one street, but this old guy, would of been late 60's went ballistic at me, dident speak English but just abused me, lol!

I backed off of course, the owner walked up and said he don't like anyone seeing how he does it, I knew how he did it already, was about to say " good on ya mate, it's a dying art " but I asked the owner if he had any apprentices learning the art of lead wiping from the old bloke, he said no he won't show anyone!

What a fool, thought if he taught others he would do himself out of a job, a product of hard times back in Italy I suppose during WW2.

slowsnake · 23-10-2021, 09:46 AM

Quote:

Originally Posted by jpd80

Fuel prices continue to push higher with $1.70 /litre becoming a lot more common,
so it makes me wonder where the tipping point is for people to turn against regular
petrol vehicles. Of course, everyone has a different situation with vehicle ownership
and usage but it’s making me think do I really need to keep that V8 car or cash in?

In Perth suburbs yesterday I paid $1.79c a litre for BP 91Ron, its a disgrace, their diesel was $1.55c, unreal!

Warrenk · 23-10-2021, 11:01 AM

Interest rates could effect the price of classic cars. When interest rates start rising(and they will) and house repayments go through the roof I can see the classics going on the market so people can keep their houses. So if you paying off a house and have a classic car sell it before interest rates go up so you can benefit from the higher prices before you are forced to and get a lower price.

Sprintey · 23-10-2021, 02:24 PM

Gotta say Gen Z around my little sphere are petrolheads. There's been V8s, 90's stuff, 2000s stuff, classic Mercs, Alfas, lots of FGs, and increasingly, 4x4 rigs ("you can be Free out there, unlike on the road"). These guys are not Gen Y, either in interests or buying habits - or future nostalgia buying-power.

They are doing it themselves (I was blown away when the boys repaired a front axle of a 105 series on-track when it broke, natural as day, just pulled the thing apart and jury-rigged it to get home. The photos were awesome) and some are in mechanical trades. All others, all of them, are hands-on.

As far as lead-wiping, I love youtube:

https://www.youtube.com/watch?v=w8ugkhHQ8n8

https://www.whichcar.com.au/features...rs-tech-torque

https://www.whichcar.com.au/features...rs-tech-torque

Both piping and panel there.

It's the same for individual marques/models. For example, if you go over to our forums or AULRO or try a UK based Rover 75 forum (that's already a rare car, disappearing, going classic, and complex electronically) - there are everything from buyers' guides to online guides on every form of repair of common problems. Social media on these topics supports those with questions and things to fix. The internet truly becomes 'Cathedrals in Cyberspace' as I read years ago in a futurist's book ("The Meaning of the 21st Century"). So the internet and information technology/social media doesn't replace whole activities, but rather also acts as an eternal repository of knowledge. I've learned some great CNC methodologies from it in the last year, despite never working in a machinist's shop. The results are good!

I'm a bit more bullish that today's young in future will place some value on experiences that are physically engaging and not virtual.

**buggerlugs** · 23-10-2021, 03:01 PM

Quote:

Originally Posted by FairmontGS

If you're not enjoying them, sell them. They won't go any higher. Stick it super and enjoy the annual trip to Italy instead in 10-20 years time.

If money isn't a problem, then keep them. Simples.

Spot on. I lost interest in mine and it was an effort to get in and go for a drive. Do not miss them at all..........

Franco Cozzo · 23-10-2021, 03:06 PM

Quote:

Originally Posted by buggerlugs

Spot on. I lost interest in mine and it was an effort to get in and go for a drive. Do not miss them at all..........

Takes a special person to put up with old car foibles too, a couple of us at work have the ****box fleet in full swing, 20-30+ year old cars and the executives and 'normies' in our industry don't understand why we put up with the 'downsides'.

I seem to be getting interest from Gen X in the Lebonator, everyone whose asked about it or shown interest has been in their 40s/50s, people who would have been in their late teens/20s when these things were new and top of the line local option - nostalgia from their early adulthood.

Sprintey · 23-10-2021, 03:40 PM

Lebonators were choice when Gen X was teenage - often owned by Silent Generation (pre boomer) farmers, the car was viewed as special as these older guys really missed their white WB Statesmen when Holden ditched that platform, and thus it was the car dad/uncle had when Gen X were kids.

Edit: in fact, many had held onto their WB's and traded in on VQ/VS Statesmen

hayseed · 23-10-2021, 03:43 PM

Quote:

Originally Posted by FairmontGS

If you're not enjoying them, sell them. They won't go any higher. Stick it super and enjoy the annual trip to Italy instead in 10-20 years time.

If money isn't a problem, then keep them. Simples.

^^^I'm not Too sure about That.^^^

slowsnake · 23-10-2021, 04:22 PM

The whole point of an apprenticeship is to learn the practical aspects of your chosen trade with theory being 20% of your learning, and 80% on the job.

You can learn a lot from the internet, or YouTube, but it don't give you that tradesman or Master of Apprentices looking over your shoulder guiding you!
But it's all interesting, and intimidating especially to a 1st year apprentice!

oldel · 23-10-2021, 04:32 PM

Quote:

Originally Posted by Sprintey

Gotta say Gen Z around my little sphere are petrolheads. There's been V8s, 90's stuff, 2000s stuff, classic Mercs, Alfas, lots of FGs, and increasingly, 4x4 rigs ("you can be Free out there, unlike on the road"). These guys are not Gen Y, either in interests or buying habits - or future nostalgia buying-power.

They are doing it themselves (I was blown away when the boys repaired a front axle of a 105 series on-track when it broke, natural as day, just pulled the thing apart and jury-rigged it to get home. The photos were awesome) and some are in mechanical trades. All others, all of them, are hands-on.

Yeah but they'll be forever poor though as the housing market is going to take all their money. They won't be able to afford the crazy prices of boomer and gen x toys. Any classic car these days is only going to be sold from boomer to boomer (or a gen x that bought house/s early.) And when those buyers stop buying there's no-one to flog your currently overpriced toys to. They'll just be passed down to kids for nothing, or sold for less than what they currently can get today.
If any younger gen does get cashed up why wouldn't they want a euro marque or a car appreciated worldwide, or the latest and greatest electric?