Hot Rods What is going on with old car prices!!!!!

Ever offer to take the friends son for a ride in the Nova?

 

The actual selling prices may be coming down but expectations still seem high sometimes. I saw an ad for an O/T AMC Pacer for $5000.00, original car that's been sitting for years.

I have seen a downward trend in old car prices though, I think it reflects what the market really is today. It may suck if you're selling, but if you're buying it's not bad at all.

 

Not fading away but changing. I have students that do engine swaps on tuner cars and lifts on 4x4s They build what they have access to.
Think about some of the technical hurdles for an EFI swap between different makes. These young folks handle it

 

Not just young folks...Vintage (early to mid '80's) multi port fuel injection is waaay cool. Tuning from your smart phone or a dedicated tablet on the cars dash. Just keep the hood down and don't say anything about it. Happy cruising!

 

The only prices I see changing are for Streetrods. Its difficult giving them away right now. 50-60's cars still selling. Just sold a real nice 63 Impala. Took longer to sell then I anticipated but satisfied with what I got for it.

 

Anthony, that is impressive to hear and I imagine your head of a mechanical shop perhaps for high school?

Which brings up another subject related, does everyone really need to go to college? Personally I don’t believe they do, many people aren’t by nature going to do well in a college environment but thrive in a trade & most likely make just as much if not more in the end.

While college was great, don’t get me wrong, I think I’d be just as if not more happy having done a trade. I know today I still get the most satisfaction from creating with my hands. Whether it’s remodeling a house or fixing up an old car, it’s what floats my boat!


Sent from my iPhone using H.A.M.B.

 

I'll say this . .

I just got a '57 Bel air which has been a car I never thought I could get.. not this lifetime. At least not a running, driving, lots of new parts example... Picked it up for about 7k more than I see solid rollers sell for. And it's got complete new floors, brakes, full suspension rebuild,, new seat covers, less than 5yr old mild build and, th350, tons of new little things, and driver condition paint and trim... For the same price I see driver 63 Impalas for...

It's definitely a time to pick up some of the cars we've been after

That being said, seems like a Nova or c10 will cost you 5x what it will in 5 years

As always , it's cyclical ... I remember in the late 90s very clean 57s getting near 100k.. and a very clean Impala was 15k lol... Now similar. But won't be forever

It'll always be an odd market, timing is key. Don't buy what's on all the covers and tech articles at the time

 

I do not agree and a large amount of the cars in Japan and other foreign countries were built here and shipped over seas. Helping fuel the price inflation. I know of about ten finished cars from here in the north east that have been shipped overseas. (Yes I know there are builders overseas) Let's not forget there were not many early Fords or G.M. cars built in these countries and that the Ford plants in Germany and Japan were nationalized by the NAZI government and the Empire of Japan which really limited the numbers of pre war cars in these countries.

We have top notch builders here weather they are home builders, or pros like Jimmy White, Bob Bleed, Cole Foster ect... Don't judge the quality of all the cars built in this country by a handful of people who build junk!

 

Prices may be down but the cost of building them has not.
The old adage if cheaper to buy a done car than build one for many prospective buyers.
Buying a street rod and returning it to traditional may be cheaper depending on the buyers skill set

 

Guy's
I have loved building and having old cars me entire life I am almost 72 but I must admit I do not like wasting money or losing money on my projects and when I love cars for sale I cannot bring myself to either build or buy another one right now.
I sold my last car about 6 years ago and if I still owned it today I would have lost another few thousands dollars below what I had sold it for.

I heard all the stores that it's all about owning and driving the car and yes I enjoy doing that to but the bottom line is it's cheaper to buy a car then to build one and that is the problem!

I have many car crazy friends who have spent way to much money building a car only to sell it for less then 50% of the cost to build it.

This is kind of like the old saying "How to you make a million dollars racing" start with 2 million and stop when you get to one million is about the only way it makes any sense building cars today.

I wish is was different and like the old day's but it NOT!!!

It is sad going to car shows each week seeing the exact same cars that have been for sale for a few years and each year they lower price trying to find a buyer but as us old guys die off it becomes harder and harder to find people interested in buying old cars.

Jimbo

 

as with the stock market its a market correction. and just like the market if your in for the long haul it will come back up if you can hold out long enough

 

Just body shop teacher
I try to expose them to all types of custom work. I just went to a hydro dip workshop and the students are fired up about us setting the process up at school. One of my female students cruises a first gen Monte Carlo. Most are in to Japanese coupes. One is building a 90s mustang while another drives a square body gm. People will always personalize their things. Just look at phone covers. The hobby will change as technology changes. You can tune your car with a phone now. We have color changing and illuminated paint. Look at how we can 3D print parts. Metal shaping tools and techniques are everywhere. CAD programmed parts and tooling to make parts are commonplace Wether you believe it or not we are doing things the folks from the “golden era of hot rod” builders only dreamed of.
We are already discussing doing some type of electric build.

 

Can't believe I just read a post on this thread of someone telling young people its not necessary to have a college education. What on earth does that have to do with car prices? Unless the poster is trying to tell us poor people can't afford decent cars. Don't believe I've ever heard of a worse recommendation to our young people coming from a so called adult. Sure glad my Grandchildren don't feel that way. Its a well proven fact the college graduates have by far a much larger earning potential then non graduates. Theres always exceptions but they are usually few and far between.

Don't know about y'all, but getting an education has provided very well for my family. All our kids all have college educations and doing quite well for themselves. Its also given me a good interesting and challenging career, great pension, good medical benefits and has allowed me the wherewithal to play with my old cars.
The next time I see an adult sacking groceries in a supermarket, I'll ask him how not getting an education worked out for him.

A 25 year old living in their parents basemant is not a Millennial they are a Loser.

Gary

 

Amen to that.

 

Earning a bigger income and bigger retirement has nothing to do with enjoying life. It also has nothing to do with the word "success".

College is not a guarantee that you will be any smarter, or....happier..or guarantee that you will end up earning more money than a "go getter" can, without college.

I have 11th grade, and no GED. I am happy with who I am, and nobody has the right to judge me...except me.

I had a 45 minute call with a born-wealthy guy, 52, upscale private schooled, best college, now works for the biggest financial company in the world...he told me twice during the chat "There have been several times in my life, where I really wished I had been born poor". He was forced? to follow a path he apparently sometimes regrets?... his eldest son is now in the Clergy. One of the lowest paid occupations, if you only think of "money" as the payback. I really respect his Dad for letting him decide what he wanted to follow.


Let me get back to spending money on a certain car that you want. If you can afford to do so, there is no reason to not have that car professionally done, when the costs are far higher than that model is then worth. I see many people do this, as it is the car they always wanted. They don't view it as an investment. Some people in that same paygrade, have spent far more for lifelong annual memberships at the upscale Country Clubs, or Yacht Clubs...

Money is nothing more that a tool.......and success is measured in many ways, by different individuals.

.

 

I understand both
It’s all perspective. Education is not a curse word. If you live in an area like my students do that has a median income of less than 40 k per household a job that could earn you 70 to low 100k a year seems great. And without the college price tag
We have a few electrical students
earning 30+ an hour that haven’t reached 20 years old yet.
I have a several students working with seasoned vets that are being trained to replace them upon retirement. These positions range from 70 to 120k a year. A vast improvement over what the average home makes here and without any college debt.
Are those numbers attractive to young folks from wealthier homes ? Probably not.
What does this have to do with car prices? Nuthin

On a side note. This area is in the top 5 nationally for drug related deaths and the vast majority of students are on some if not all government assistance.

 

Don't know how this BS about college education or the lack there of and then hourly and yearly wages even got started on a HAMB car price thread. Definitely OT. The only reason I replied to it is I don't believe telling our young people not to seek a college education is the message we should be sending them.

BTW, the easiest way to get a FREE college education is to join the Military. Uncle Sam will gladly pay for your education while you serve our great country.

Why don't we all stick to HAMB automotive discussions instead of this OT nonsense. Doubt anyone gives a shit about your education level. I surely don't.

Money isn't everything but it sure buys some neat Shit.

Gary

 

“Stay off my lawn”

And hopefully coupe body’s will drop so I can get one

 

I'm 71 and considering building another 32 Ford. I do not care what it is worth, or if it is cheaper to buy than build. Fact is the building is what is all about for me. I have two 32's now and not sure if I could sell either one. I have thought about selling one, now that I am getting up there. Problem is I could not decide on the one to sell. I like my Roadster and the Wife likes the Coupe. I enjoy driving and working on them. Someone else can worry about the value after I am gone.

 

GOOD LORD!...sorry didn't mean to change the subject.

 

Nope
These things progress just like a conversation
I have also watched the last few auctions and cars are selling way less thay what you can build. However I believe most here enjoy the build more than anything.
The down side is if you do this as an investment. The upside is that younger folks may be able to get involved. This topic is where the thread took a turn.
Prices cannot always move upward. There are always corrections. The best example is first gen t- birds. Those were hot years ago. Now they hardly get attention. A friend of mine has a complete 56 he can’t sell. The hot items I see folks looking for around here are trucks, COEs, step vans, and jap coupes

 

The quality of custom cars built in Europe as a whole DOES exceed the quality of U.S. builds , and that is a FACT , rodders in those countries are a very small minority but have their shit together most the “hobbyists “over there can probably show most the “ pros” here a thing or two

 

There were many guys who had old cars sitting that they wouldn't sell because they would be worth more later that ended up as scrap metal.

As for those who say the economy is booming, there are jobs but the pay doesn't allow the extra money to have expensive hobbies. When I bought my house when I was 25, my annual gross earnings were the same as what I paid for my house. One weeks take home pay made the monthly payment. Another weeks paycheck covered other bills like food, electricity, phone and heating. Another weeks pay covered vehicle expenses. That left a weeks pay every month to use on other things. There aren't many 25 year olds today making anywhere near what a house costs. There are many couples who combined, don't earn in a year what a house costs now. Rents are expensive too because of the value of houses. When people start out renting, they have trouble putting money aside to make a down payment on a house.

People developed other interests that cost much less and take less space and equipment to do.

 

On a side note
I recently checked out some cool, rare Studenakets. Pre war cars. They were built in the early 90s and were probably as top notch as a street rod could get then. The owner informed me they were offered well over 100k a car for them in the mid 90s. The sad part is knowing thay are not worth a 3rd of that today. Like someone else here noted it seems the billet laden street rods are hurting.

 

Yes to both statements. I have always gone into the idea of building something as just another money pit. No, I am not rich or famous but I know the limitations. How much money do you get in return on a 3 week cruise? Nada. Nothing wrong with a Caribbean cruise but you are losing money and that is the same with an old car.

A good investment ought be measured in returns. I always try for 100%. If I don't get that and I end up with 40% then I have done fairly well. An old car is not an investment but is an expense. Treat it as such and there is little disappointment at the other end. If you think the old car hobby will put the kids through college or pay for your nursing home you have a big surprise coming--and not a good one.

 

I look at them the same way. They are entertainment. Also cheaper than a psychologist. Work = therapy

 

Old car prices declining? Simple solution......don't sell it, DRIVE IT!
I have 3 completed old vehicles, I drive them all. Building a 4th. No intention of selling any. My kids can have them when I'm gone.
Building/driving old cars keeps me sane!(ish)......

 

Don't forget the big reel on the back for the extension cord

 

Threads like this always bring out the Chicken Little prognosticators, warning of the immiment demise of the old car hobby.
I went to Mecum's website to look at the OP car in question. It is an unstreetable drag car with 100 passes on the engine. It has plexiglass side windows, front and rear, with the post between the slider and the curved glass removed. It did come with an uninstalled Speedway wiring kit so that the new owner could install it and make the car "streetable." In my opinion, the market for such a car is not great and the seller got a very good price for what the car is. I would not have even bid, no matter what kind of money I had.

At the very same Mecum Harrisburg auction, a '56 Chevy Handyman 2 dr wagon sold for $67,100. A '57 Nomad sold for $99,000. Another '57 Nomad sold for $126,500. A '57 Chevy ragtop sold for $132,000. A '57 T-Bird brought $75,000. A '59 El Camino sold for $84,700. A '31 Ford coupe brought $60,500. A '56 F-100 went for $77,000. A '35 Studebaker Dictator street rod coupe sold for $121,000. A '62 Impala SS $63,800. A '36 Ford PU $45,000. '34 Chevy 2 dr sedan street rod $55,000. A glass '32 Ford high boy roadster $57,200.

I could go on, but you get the point. I looked at the pictures and description of every vehicle at that auction, and I think they all pretty much brought good prices for what they were. The higher quality cars brought higher money. The lesser ones, not so much.

 

I have personal experience that the prices that are reported for vehicles sold at auctions are not always correct. They can be inflated and cars represented as sales, did not sell. Auction companies also employ methods to bid on behalf of the seller to "assist the seller". Some auction companies are reputable but they are all in the business to make money, and they do make money.

If you are like me, and you enjoy an old car to drive, then you do not have to worry about the value of a car for resale. Fact is when I started building cars, we never dreamed we could sell a hot rod for more than what we had in the parts and materials to build it. It was a money pit from day one.

Personally, I would not make retirement plans based on investments of automobiles of any kind.

John