[JLHarper]

Reason I ask is IF dealers are NOT buying, and average Joes are NOT buying is this a precursor of market prices to come?

Serious collectors have and will continue to buy.

Its the excitement created by average Joes interest that made this muscle market go to where it is now.

If they have lost interest, or slowed down this might be why prices are weak on musclecars.

The announcers even tried to hype things a little by saying "the market is strong for original cars and nicely done recreations". Also talking about record auction sales. If this first auction is example of what is considered "strong" in muscleville,
....weve got a problem.

Might be the big adjustment, and like 70RA455 says "time to buy".

Or...Is this just a bad auction, maybe the time of year? I see some members think other venues will do better. What do you all think?

[68bird400HO]

Originally Posted by JLHarper

Its the excitement created by average Joes interest that made this muscle market go to where it is now.

I guess it depends on who you believe was responsible to for sending the prices up. Do a search on BJ results from last year (especially one about a $110k Judge). I don't believe the average Joes caused it. This whole thing really started taking off just after the tech bubble burst. Investors capitulated their equity holdings and turned to tangible objects, musclecars being at the forefront, and their influx of money and aggressive buying made prices shoot up. Some investors have been stepping out over the past year and that is reflected in what you are seeing now. What's left?? - The hobby, which I think is as strong as it has ever been.

[poncho-mike]

I haven't read the full thread, so if I'm repeating somebody else's thoughts, I apologize.

Has anyone considered the effect of the real estate market on car prices? The real estate "bubble" has been discussed in detail in many business articles. People were planning their capital expenditures based on their home appreciating in value. Many may have the double whammy of having an adjustable mortage rate.

Fast forward a year later and the fed has raised interest rates several times, which is causing any home loan (first mortage or equity line) to see an increased cost to borrow money. Many of the hotter areas of the country are cooling and real estate prices are dropping.

So when you add in those two factors, the money to purchase a muscle car may not be as readily available as it was last year.

I have mixed feelings on the old car hobby. As an owner, I'm happy to see the prices increase because I know someday I'll sell off a big portion of the cars I own. I'm also frustrated because I got a lot of enjoyment by going out and finding neat cars. It's getting hard to find old cars cheap enough they can be enjoyed.

Mike