Projects are Car prices going down?

the price of everything , especially houses here in the Bay Area has gone nuts, add the high interest and property taxes and people just don't have the money for expensive toys anymore.

 

Over here, the top notch built old american cars are still high, but I see more of them on the market and I think they are not quick sellers. An 80s or 90s BMW, Audi or Merc with a bit of engine in it is worth it´s weight in gold it seems. I think there´s a new generation of car guys in their 30s that have a love for this area of cars.

 

"All the shops I visit are full and have waiting lists."

There are less quality shops than before.

 

The last big buyer and seller group in the market were the tail end of the Boomer generation. That's what kept the higher prices afloat ten years longer than it should have. If you have one of the sort after models for sale with the advent of the internet you can sell it in Detroit or Denmark it's an open market. Anything else prices are definitely dropping because those boomer generation are now hitting their 70's and are starting to need the money for other things. Plus, a lot of the car clubs are slowly dying off as the membership starts to dwindle. The younger guys are coming into the sport not in the numbers that are noticeable. European and Asian cars are where they're at. My son is 38 he grew up around Hot Rods and was encouraged to hook into them. He went Jap during his teens and has built and owns some very impressive machines. Yes, his father is seeing a trauma counsellor. It's not just in the states this trend is worldwide. You'll still see cars with hugely inflated prices on them, sadly, the sellers maybe living in the past.

 

I think everybody is failing to realize the real issue here obviously the car hobby is going to march on and later model cars are going to get restored and older cars are going to fall out of favor. For example my father loved 1955 to 1957 Thunderbirds he graduated high school in 1962 but he is no longer with us unfortunately there are a lot of men just like him that are unfortunately aging out of the hobby so certain cars are starting to go back down in price from their historical highs.... It's going to be pretty hard for a 31-year-old to relate to a car like a Thunderbird because they didn't grow up with them And it's not like they are a common sight on the streets. Cars like Ford Model A's, 1932 Fords, Ford mustangs of pretty much every year, 1957 Chevrolets and a few other extremely popular cars will always have a following and value because they transcend time because of the cool factor But those cars are the exception not the rule. When it comes to the hot rodding corner of the automobile hobby trends and times change a traditional hot rod was all the rage 25 years ago same thing goes with rockabilly music and pinup chicks but the reality is those rebel 23ish-year-olds are now approaching 50 with families and a lot of them have moved on or their car has been stashed away in the back corner of the garage waiting for the next generation to hopefully discover it had a lot of people are followers of trends as the traditional hot rod scene isn't trendy anymore of course you're going to see a lot of reasonably priced hot rods and street rods. Today it seems like bangers are becoming the cool thing in hot rodding because they are cheap to get into and cheap to run but even then most of the guys that are doing it are my age ('40s and '50s). Young people today are doing Japanese cars from the 1990s It's weird but an Acura Integra is a classic car now especially in the areas of the country where rust ate them all.
Also without going into the politics of it something none of us are talking about we just went through roughly a 25 to 30% inflationary period. I don't think a lot of people have disposable income anymore and I think a lot of people are selling off their cars to make ends meet which is driving down the market too, How many of us have been watching cars on our favorite classified ad websites where the car is a reasonable price and they're not selling for weeks. I mean when you are seeing fully restored Model t's going for 7000 bucks Even if they are impractical as a driver I don't think anybody's going to deny that's extremely cheap but they're everywhere now.
Myself I was okay with the prices being a little higher, It makes it a lot easier to justify dumping a ton of money into a project car because you could usually get it out if you were careful if you decided to sell it now with clean cars getting cheap it's hard to justify fixing a project car because you could buy a nice car cheaper if that makes sense.
Anyways that is my rambling I'm sure if I scroll up I wrote a lot I always do and I don't mean to.

 

I’ve noticed the prices are dropping across the board with the exception of the super high dollar builds but when you compare original cars to modified there’s a huge gap. I’ve been watching the auctions like Barrett Jackson and Mecum for a few years and you can have a very nice original car like an AACA winner, pristine restoration and one that has had the LS swap with power everything, pro touring, street rod type of build and the modified version will sell for big bucks where the original model was given away. Personally I’m thinking that the reason behind it is because you can drive and enjoy something modified versus the hassle of the original.

 

I'm gonna say this and catch the heat, all of those people that have been hording '32 Fords for years to fund their retirement need to sell 'em now, 'cause inevitably they will become just old cars to the next generation.

 

Prices are higher if you are buying, but lower if you are selling. See what i have for sale.

 

Prices are still stupid here,

You wont get anything that is semi roadworthy and running for less than £11-12k now

Rotten basket case trucks for £8k

Its a serious barrier into the hobby here.

Other classic cars (British) can still be had for sensible money eg very clean rust free cars for sub £6k

 

Now, as is always the case, there are people who attach an unrealistic price on their car (then complain the market is slow).
Then, there are the serious sellers who are aware of the present markets and price their car accordingly, who have success in selling.
As a seller, the largest obstacle may be your pride.

 

6000-7000 boomers die each and every day in the US and if just a small percentage has an old car stuffed into a garage or barn there is a virtual flood happening and its just going to get deeper. Was just talking all this through with a car buddy. We are both early 50's, upper middle class earning good livings but have never been able to get THE cars we always wanted as they were too costly while raising families. We both have cars, just not those cars. Now they are so cheap compared to our incomes its hard not to buy two. We have decided the question is really "why buy now?" its going to continue to drop significantly. I'm in no rush with cash in hand, best seat to be in to watch the show unfold.

 

Some cars are just ugly.
Around here, guy still build 90s street rods. Ugly wheels, ugly colors, ugly interiors.

And price em like they’re not ugly.

 

I think car prices will follow the economy, when it tanks and it’s going to things like boats, bikes and HotRods will slide into the unneeded pile and then value will crash. Just look at what is happening with new vehicles dealers can’t sell them, hell there’s still new 2022s floating around out there. Now’s not the time to drop another 20K in a project.

 

You and whoever said we're seeing a generational shift hit two things that are in play as well. There is definitely a generational shoft happening. My Father's generation is shrinking. His generation was/is a significant driver of the hobby. My generation (X) and the next after mine are becoming the next group to drive the hobby. And like many guys before us, most of us want the cool car we couldn't afford when we were in our late teens and 20's. Those are 80's, 90's and maybe early 2000's cars. OT for the HAMB but they are coming on strong.

So tge car hobby is doing fine as a whole. But certain subgroups are in flux right now. I'm sure it'll change and sort out.bI know guys with late model interests rhat also are into hot rods, they just are more into the late model stuff right now. Tastes change. The older I get the more I like and appreciate the older cars. Kinda like wine.

 

I’ve seen some nice 39/40 Fords dip lower. These were solid $30k cars just a few years ago.

 

There was a auction this weekend in Greensboro NC at GAA Classic cars. ( I would post a link but it would get deleted ) anyhow real world prices of todays market in this part of the country. You can see the results of what the stuff brought.

 

Muscle cars will stay (reasonable) high for at least 20 years, because they are daily driveable....
A lot under 25 people are hopping on the train right now... but they don't have the boomer retirement money....

 

This is also true.

The market for old parts seems to be pretty strong yet (which is what I do for a living), but there's also less supply of good, actually old stuff around. Lots of different factors, no simple explanation.

 

Aging out, is how I refer to the state of affairs regarding vintage cars. The vintage car culture in this area, New Orleans and vicinity is vibrant but suttle. I did go to a local cruise night recently after not having been in a while.
The vehicles were impressive and numerous. Near a hundred or so. All were very well done. Most were not recent builds. Most were owned by older gentlemen. There were several for sale. Prices seemed to reflect significantly
lower than I would call the norm. Reason seems to be as others have stated, fellows and ladies as well just don't want to leave the burden of disbursement to family or others. I am feeling the same as well. I have three various
projects. All are for sale. I like them all and will keep one depending. I have many vintage and varied parts and other automotive "stuff." Very little interest in these items although I have sold a bit. There was an exceptionally
lovely 39 Ford coupe neighborhood vehicle recently offered for $28000. Built by master craftsmen from a local
family. It had been in the area for 50 years or so. This was a smoking good buy in my opinion. I considered it but did not buy it much to my chagrin after reflection. If I was 20 years younger I would not sell any of them, however my DOB assures me I am not! Hense lower prices?... Good day members.

 

it's not the economy, but, the lack of buyers. i've been in this hobby since i was 14 (76 now), everyone i know now already has 2-3-5 projects and maybe a couple ready to drive. they are older and just don't want/need another headache.

 

People get to a point in life where they're established and have some extra money to spend on a hobby, and they gravitate to the cars that were popular when they were teenagers. I remember when all the middle aged guys were fixing up Model T Fords, they're all dead now. Middle aged guys today may be thinking about Fox body Mustangs instead. There are exceptions of course but that's just how it tends to work.

 

That would include myself I must admit. Retirement funding was never my goal. I just could not
pass up a 32 three window body 20 years ago for 3000 bucks. After many years of gathering "stuff" for the
coupe l will be doing well to recoup my considerable monies. Its all good. I like the look on guys faces when they happen to step into my shed and see it sitting there still on a dolly I built 20 years ago. I may be at the sell them now point myself!

 

Old car prices are flattening out for sure, but some people are still in another galaxy with their prices.

Here's a weird one...

Last year the Fredericksburg Swap Meet (one of Texas' larger swap meets) was postponed from July to December due to rain. The December meet had about 10% of the vendors of previous swap meets for two reasons.... Poor communication about the rescheduled date from the organizer and the weather was miserably cold and wet, like soaking wet and just above freezing. However, non-stop all day Friday and Saturday my dad and a friend of mine and I were wheeling and dealing with people. It was a great weekend, and I sold a lot of good stuff.

Fast forward to this past May, at the Lone Star Round Up Swap Meet in Austin. I had a couple of spaces and had some friends bring some of their stuff. Weather was pretty typical with some weird rain for a short burst, but we were under the cover of the big show barn. All day Thursday, Friday, & Saturday we were busy. I was swamped with people buying stuff, asking questions, etc. My trailer was lighter and my wallet was heavier.

Now, this past weekend was the Fredericksburg Swap Meet again, back on its normal annual mid-summer schedule, fairly full of vendors, maybe 70% from sold out. The weather was pretty typical for this time of year... hot & humid, as to be expected. Partly cloudy, good breeze, set up to be a good weekend. My dad set up Friday and sold a few items and I set up on Saturday next to him. This year maybe 10 people came up to my spot on Saturday, and I only sold 2 items, an Edelbrock carburetor and a Hurst Shifter for the huge sum of $90 total. I spent more on fuel & ice/water to make the trip, not to mention the hotel. My dad sold a few things, but not the bigger stuff he really wanted to unload. A real bummer.

This isn't a price thing, this is an activity thing. My swap meet spots have always brought attention because I usually always have cool old race car shit, some rad vintage wheels, or a project on the trailer that grabs attention and sparks a conversation. I'm not selling stuff to make a profit, I'm trying to break even, maybe make a few bucks so I can unload stuff I don't need so I can go buy more stuff I don't need. I often give stuff away for super cheap, or even free depending on the person and their attitude. I can't throw stuff away, someone might need that random part.

Anyway, I've been buying and selling at swap meets for many years, and even had my own little local swap meet for a while. I'm used to the ups and downs in participation, weather related stuff, and scheduling conflicts with holidays or other events. But this one was weird. It's like nobody was walking around buying stuff. I'm hoping this past weekends experience isn't a major sign of things to come, but rather just a fluke of a weekend.

 

I waited quite a while to buy my Model A-kids gone and mortgage paid off. Then I built it with extra "play" money not in the family budget. I built it for ME and if it doesn't make it back to what I have in it, that's okay, we'll be fine. But I realize that's not everyone's position.

 

A lot of aspirational prices out there still. But the cars are sat there for months or longer. I always use auction sale prices to see what folks are spending but on the whole the bottom has fallen out of the pre-war classic car market, and with a few exceptions hot rod prices are tanking. Folks are stripping rods and customs back to original factory spec on rarer cars, effectively de-rodding the car

 

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some of the cars are selling at prices that you can't come close to duplicating for that money! The BIG money cars are Pro Touring. IMO

 

Same here in Sweden, some of these have been sitting for half a year or more (all drivers),
'23 T touring $9k and one $13k
'25 T RPU $12k
'36 Ford 3w $76k and one chopped 3w $160k
'36 Willys 77 (stock) $24k
'37 Lincoln Zephyr 3w $145k