Event Coverage Swap Meet Shocker

How much are they in the tank though?

It seems like the prices for a lot of items are going down..not just cars/parts.

 

Last swap I sold at was Tucson's CHVA swapmeet. Sold one big thing, a few small things. Everyone complains about "nobody's buying". So, I still had fun.
I brought back 90% of the stuff I took to sell.
Best part of any swap is the friends, the stories, looking at other's stuff, wandering around and relaxing away from the home chores.
But YES, I do believe prices are down, but to a reasonable level.

 

It's a different demographic these days. I've always told my customers that I'm a craftsman, not an investment couselor. Some of them mention their costs, rising, falling values, etc, some don't. True enough, many did refi gigs and are now hurt. None of my base did that but it's out there. All of the cliche's apply about a buyer's market and the B-J bashing, but if you have a dream and the means to follow it, even for a while, it's simply a good time to do so. My "money guy" thought I was making a mistake having the green in the cars I have. They've gone up, not down. By the time my personal paradigm shifts and I finish the damn things, I'm not going to be concerned about their values. The real reality that I'm seeing is that quality is always in demand. Good stuff always sells. The prices are almost a moot point because of the current times. There may be less customers for a stuck flathead or a box of Model A stuff, but there's always a customer for a premium piece. If people keep dropping their prices at exponential levels their simply driving the market drop harder. Hold the line and deal in good stuff. That 30 Dodge sedan just isn't going to attract the wannbes it used to. That Deuce Tudor is still a lot of money, 2nd only to it's single-seated siblings. Duesenbergs are never cheap. 61-2 bubbletops are always hot. Trucks are just short of silly in the last 2 years. It's not everything, just the select few things that many of us think are valuable. Always remember, we here are a minority. We have a profound effect on things by our presense at select venues, but even that takes years to show itself. How much new billet and fiberglass shows up at a Goodguys compared to "our" stuff?

 

Problem that I am seeing, and I am sure that a lot of you are too is the fact that some guys were buying stuff up when the economy was really good and they have some good money themselves into some of these items. Now with the economy being bad they still are asking high dollars for these items because of the money that they have invested into these items, but no one is buying their high dollar items because money is tight. It is a terrible cycle.

 

All I can add is... The last BJ auction I watched, I remember seeing some decent restos and rods sell and thinking "Hell, I could have bought THAT"... and that hasn't happened since about 1991 (and no, I don't have any more money now...).

 

Me neither!!!

It had me puzzled because just a few years ago there was some squawk about collapsing prices then...I guess it just goes to show..things go up..they have to come down at some point...

 

lets not forget the fact that down prices would mean lower cost to parts you NEED, which should be the main reason to buy parts. i haven't seen this to be true in my parts searching but if prices are down, it should help us. just wait til they go up and i'll start a thread bitching about high prices! haha (i may have already)

 

For the most part, it's tough to get people to spend more than about $20 at the swaps and shows. Even the other day about the most expensive single thing I sold was $50, I had a couple of higher sales but they were buying several items at once. But that's held pretty well true going back to the summer - I can sell lots of cheap stuff, the expensive stuff pretty much has to go on eBay and run "Good Until Cancelled". Most of the car shows were like setting up at the all Ford show which has been terrible to do just about every time I set up at it to the point I didn't bother this year. Even though it's only a few miles down the road, as opposed to in another county or something. Those guys have been ahead of their time on being cheap.

 

COG..cost of goods.
A simple matter of what you pay, vs what you sell it for.
Profits can still be made, you just have to be realistic, and do your homework. Know the market you are in.
Some people are not willing to be honest with themselves, and are still holding on to 3 year ago prices, scratching their heads, wondering why their car won't sell.

 

I think you hit the nail on the head with this one. Perhaps the stupid people ran out of money and just aren't paying the ridiculous prices anymore for any old crap just so they can be part of the 'cool' club. Maybe we are just getting back to a reality check level where you actually need to do some work to sell something for a good price and make a profit. As would seem to be common sense, the valued rare stuff will always sell itself to a degree, but the common stuff will need some effort.

 

Just ask yourselves why you're looking/buying. Looking to make a profit? Just focus on black ink. If you're the type that only buys at .02 on the dollar and and want 1.05 for it, you'll lose. If you think you'd be happy with .08 on the dollar, you'll win. Barn find Deuce 3Ws for $1500 are less common, and even more realistic, are gross exceptions to the rule. I was recalling old oportunities last night with one of our brothers here. I should have bought that Boss 429 with the heads off of it for $5,500 when I had the chance. I should have bought that Falcon with the "Factory Race Car" tag on it for $5000. I should have bought that Ferrari 330 GT 2+2 for $18,000. I had the instict on each one but I didn't or couldn't pull the trigger. The Ferrari was worth $80K by September of that year. The Boss was worth $25K running and detailed. The race car was a gamble, and since the more popular T-bolts were trading at under $30K it was risky, especially since it was fitted with a 351 Cleveland. Still, all of them would have been "black ink".

Now we find ourselves wondering where it's going and focused on the real life issues. We dip in and see a change we didn't expect to see, and it causes pause. Screw it. The profit we can currently realize is the odometer rolling on to higher numbers. Remember, the lowest gain you'll realize is the rate of inflation if you stay in the game long term, and the fastest way to lose is to gather and build junk. If you had fun, that's what the fun cost you. Nothing's free. If it was I'd own all of it, then where would you be?

 

I hit all the meets around here in the summer months and so do my friends. We have seen the same items at all of them because if it is over $15 or $20- it does not sell. The economy in Mich. sucks hard.

 

That just proves nows the time to build.

 

Profit yes, as I said before about the price of cars. My buddy just a week before made a huge profit on a car. The car in question now is one that he asked my opinion on and since I do not buy and sell or go thru the car coralls that much I had no idea things are as it is.

 

Four or five years ago you could always sell a few items to at least cover the space. Not anymore. There is no extra money around here.

 

I don't know, I think some guys just think they're just "smarter than the average bear".

Had a friend buy a car not long ago. The guy he bought it from had been trying to sell it for $1500 for six months. My friend bought it for $1200, telling me it was worth at least twice that and bragging about what a good deal he'd made. My friend then tried to 'flip' it for $2000, and finally sold it months later for $900.

Why he thought he could make a profit when the other guy had struggled to sell it for so long is beyond me.

 

prices are coming back to earth but also you gotta figure in the christmas season right now, people are spending their disposable income on legos for the kids and jewelry to shut their wives up. on the up side jan and feb when the credit card bills show up there will be some smokin deals on parts and cars.

 

We went to Pate this year and sold more stuff (small items) than I'd sold at any swapmeet in the last 15 years. My swapmeet partner sold a high dollar project, but it went overseas. I'll go as a seller again this year, just to see how it goes.

I'm like everyone else though, I've got a hankering for a different project than what's sitting in the back of the shop. But, like everyone else, I can't justify buying more stuff unless I get rid of some of the stuff I've got. There are lots of good projects for sale at a reasonable price right now, but everyone is looking for cash. No one seems to want another project or even finished stuff.

But I know the right deal is out there somewhere, that's why I keep going to swapmeets, noseing around the internet, and everywhere else. Just gotta be patient until some of my stuff sells or I find a trader.
Larry T

 

bingo!! I need a bunch of parts for all my projects, so im just waitin for the month or 2 after christmas.been doing it this way for yrs.

 

mmmmm...reminds me...I'm looking for a station wagon rebuild project...mmmmmmm

 

I thought we were talking about bikers not bankers for a second!

Too much Sons of Anarchy I guess.

I'm in the valley in Northern CA and I'm amazed at the prices on the some finished/projects cars out there. It's the parts I can't get my finger of the pulse of. I see great prices and prices of 5 years ago on different parts, but there seems to be no rhyme or reason to what sells. It seems like the overpriced items are still selling and the things I see as a deal not moving nearly as fast as I would have thought. I am hurting a bit just like everyone else and am afraid to take a bath on anything right now, even if its only a couple of hundred bucks.

I do a bit of vintage appliances and have got some screaming deals on people selling the old fridge/freezer/ranges that would have been out of reach a couple of years ago.

 

I still say the answer to the problem is - Shut off the damn TV and radio, quit reading the paper, and go spend some money. We are not sheep, but the media has trained us to be. Then again I could be wrong.

 

i refuse to blame my problems on those who are fortunate enough to have money. Yes; it must be nice. Instead; take one good long hard look at the government, the lobbyists, the corporations in general, the tax breaks, etc. Its not so much about the wealthy having money. And just an FYI; there's probably a good chunk of 1%'s who post and lurk here.

This is a hobby...and a business for some people who are fortunate to profit off of a hobby. hobby's are fueled when people have money. Right now, with the economy, people aren't spending spare change on parts to build cars. They dont have the money to fork over like they did a few years ago; unfortunately. People are spending their money to feed their family and pay the bills. Hopefully the economy turns around but im not holding my breath anytime soon

For now; its a buyers market and there are a lot of super deals to be had

 

seems to me stocking up on old cars and parts is a better (safer) investment than the stock market,plus a hell of a lot more fun............and yeah prices are falling like panties on prom night

 

I wasnt going to post anything since we keep politics off this board but I agree with Cadillac Dave. Well Said!!!

 

its only worth what someone will pay you for it. lesson learned from my dad years ago.

 

I used to be a 1%. All I had was a bike.
I dont blame "1%ers". Thats a lame term anyway.
Be a success I did.
I have noticed the prices getting better for buyers though.

 

Supply and demand. Finances are forcing a lot of people to let go of projects, and it gluts the market. Last year at Portland, my brother and I sold two "secondary" project vehicles for what we had in them. Both went overseas. I'm focused on one car now.

 

I posted yesterday on this thread,good example,went to little 100 vendor flea market this morning picked up a brand new set of 4 ---600-16 wide whites for $75 and 2 were mounted on 5 on 5 steel rims and the other 2 have never been on rims and came with new tubes. 1934 turn signal with mount,the arrow type for $10. I guess you just got to be in the right place and time to get the deals.