So let's talk about greed in the car market. No matter if you're selling hot rods or hamburgers, there is what's known as FMV.(fair market value). This is what sets the price,and dictates what something is worth. Yes everyone works for money! And money is the best motivator! BUT! Particularly in the hot rod business, when someone wants to charge double, possibly triple what,a car is worth!. If you can find someone willing to pay that, then, great for you! But for all the rest trying to sell a car, all it does is inflate the prices and takes these cars out of reach.and to prove my point, just look at all the nice cars for sale on here, and not many of them are selling.. I don't feel their overpriced. It's just hot rods are not selling. For all the many reasons that everyone has stated on here..
This one listed here on the HAMB three weeks ago, sold. https://www.jalopyjournal.com/forum/threads/1936-ford-3-window-coupe-sold.1176685/
Besides the HAMB where are you advertising your cars? There are a lot of cars for sale but when you want something specific, not so much.
Everything cool and desirable and priced correctly seems to disappear pretty quick. Overpriced or not desirable? It’ll stick around until one of those things changes...
It seems to me that fair market value is determined by what someone is, or has been, willing to pay. If someone wants to price something for three times FMV and I’m a buyer, then I simply choose not to buy (which is what seems to be happening). If I’m a seller who has something priced realistically, then this is great for me because the overpriced seller has essentially eliminated themselves as my competition, increasing the chances the my item will sell. If you feel as you say that their not overpriced, “it’s just that hot rods aren’t selling”, then the only other reason I can think of is that hot rods are no longer desirable and wouldn’t sell no matter how low the price is, which I certainly don’t think is the case. Ask yourself, if the price were lower, would it sell? That would be the test, I think. My guess is the most any car will sell if the price is right. As far as greed, if you’re a seller you would of course want to sell an item for as much as the market will bear. You would be a pretty poor business person if you didn’t. I don’t think I would call that greed unless I would also call someone who got a great deal on an item “greedy” because they paid less than an item was worth. If someone wants to price an item for way more than it’s worth then I would think they either don’t really want to sell the item, they’re fishing for a sucker, or they’re self-deluding. Sent from my iPad using The H.A.M.B. mobile app
"Nostalgia ain't what it used to be". I'm 40 and I love hot rods and customs, but most people my age are lusting after square body Chevies, G-Body GMs, and 5.0 Mustangs which is what most of us car guys had in high school (many of them were $500-$2000 cars). Any one younger than Gen X/early millennial doesn't have the connection to the past. Anyone born after 9/11 is 18 now and has no grasp of what the world was like beforehand. When I was a kid, there was still that 50's era nostalgia lingering around. I'm far less likely to pull the trigger on something right now because a few cars I have on my bucket list aren't that far out of reach. If they drop a little more, then I get what I want rather than buying what I could afford like years past.
I'm greedy. I refuse to sell this for $50K when it's already priced to sell. All the guides hit this car's value at the low-mid $70s. The magic # is a little below the ask. Like I said, I'm greedy...
I think the time to buy is approaching us really fast. I see alot of old guys who have hoarded cars and collections for so many years and now they're dying off and kids want nothing to do with them. I'll be ready! You watch the televised car auctions and collectors are selling off 30 40 50 cars at a time.
Things go in cycles. We are in another muscle car area. Just like the last time. Detroit has some of us driving their factory hot rods instead of real Hot Rods. The pendulum will swing back. As the real Hot Rod prices soften, it’s a great time to buy.....just like with the stock market.
Highlander,,,,that is beautiful . I don’t think you see many old Cadillacs around that are that nice. If it is a nice in person as in the pic,,,it should be worth that. Tommy
It's as good or better, then when you look close and underneath and find no rust, patches, filler or collision damage it reveals good bones too. Interior is just a whisker away from new condition. I'm selling for the family's estate and not near flush enough to buy it myself or I would. Why bring it up here in a traditional hot rod/custom community? Who else has noticed a trend of these getting both mild and radical custom treatment? Surely I'm not the only one, am I?
As far as hot rods go, I think you're right. I've been watching one particular rod for sale here on the hamby for literally months. It's killer and priced very low now in my opinion. It hits on one theory mentioned earlier for me, and that is I'd have to sell mine first. The second is that perhaps there are others like myself who have gotten to a point where the hot rodding is fun - but now I'm to the point where I want something larger to enjoy with my wife who has supported my obsession for the past 26 years. Lord knows she deserves it!
You watch the televised car auctions and collectors are selling off 30 40 50 cars at a time.[/QUOTE] Other than considering storage I’ll bet these collections ARE making a profit just because of time alone. I’m not talking about inflation at all just real dollars and not storage/ maintenance costs...
It's always much easier to NOT sell something you don't own. That's why most consignment lots won't buy your car, or offer pennies on the dollar if they do. The sales dynamic changes with ownership. Before they own it, they just WANT to sell it. After they own it, they NEED to sell it.
Due to the relationship spanning decades with the family it might as well be my own. I'm not the average broker/huckster/consignment agent. I have a duty to get the proper value here as a matter of trust. I hope my "greedy" response was taken with the 40# bag of salt that was intended
I haven't read this thread but in relation to the initial post this thread might shed some light. https://forums.aaca.org/topic/338224-insurance-quotes-for-antique-cars-by-era-both-car-and-owner/
I remember for a while after the remake of Gone in 60 seconds came out everybody who had a rotted out 67-68 fastback thought they could sell it for big money to make an Elinor clone.
1) Things are only worth what someone else is willing to pay for them. This is true of ALL markets. It is supply and demand. Everything will sell when the price is right. 2) Our hobby is a luxury; no one really needs a 90 year old vehicle. We like them because they are works of art to us. 3) NADA and Blue Books, etc, are worthless except to the insurance and banking industry. They exist to tell a non-gearhead how much he should loan, or insure an asset for. When the specialty car market is going up, they lag low valuation, when it’s on the way down, they lag high. 4) Demographics are going to crush the hobby car market’s value. The boomers were the largest generation, and they identified with the car like generation millennial and Z, identify by their phones and social media. Boomer offspring (generation millennial) are smaller numbers than the boomer generation (if both taken at their peak numbers). If the newest generations are less enthusiastic about hobby cars you get a double whammy; less rates of enthusiasm AND less total people to draw from. 5) I’m upside down in all my cars except one. I don’t care. Money is not why we like old cars. If you’re hand wringing about your car’s value, you are in the wrong hobby. I hand wring about getting the paint to lay down smooth, or tuning the engine just “so”, that when I let out the clutch it’s smooth, or finding the right piece to finish the project. I’m not rich so it takes me a longer time and more sweat to finish my projects. A friend of mine is dropping $15k into a stroker FE he’s putting in his ‘68 Mustang. He saved up for a long time. Not once in the conversation did he say “I’ll be upside down in my car so I don't think I’ll do it.” What was discussed, however, was cruising that bitch from billowing white clouds of tire smoke. This is a great time to be in the hobby. There are still barn finds out there. We have enough time to enjoy our rides. It’s still legal to drive them on the roads. Bryan
Lots of junk like this on the hamb. Not sure how these kind of rides slip through the cracks. BREAKING NEWS THIS ISN'T A HOT ROD
^^^^^^ Sorry but I’d walk right by.... not my “cup-o-tea” as they say....just like 60’s Chev pickups with no inner fender panels and 26” wheels. 2 each his own....
Prices are dropping..... fast... A few years back a 36 5 window was a good 30-35k Yes... its yellow..ugly wheels and a street rod..but.... less that 3k could change all that. Bodywork,paint and material is the price of what this car sold. The Market is at a great level to buy into...... Just don't expect an investment....... ever.
Maybe the sluggish market will allow all the people that have complain that they can't afford a hot rod or custom the opportunity to purchase a car, it might not be a 32 Ford or any one of the more desirable cars but the market is down. I know I have had my running and driving 50 Ford coupe advertised here on the Hamb for a lot less than many projects listed yet I still own it. HRP
Trying to keep with in the realm of this posting. I built this car 3 years ago. At a total cost of $25k! I finally sold it 2 years ago, $15k! So, it just shows how much of a decline the hot rod market is in..
For 25K I'd expect nice paint and chrome bumpers. Now if you paid a shop 60-70-80 bucks an hour I can almost align it in my mind, and also understand why it stopped as pictured. It happens...
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