Are these 5 familiar classics finally cooling off?

[kmakar]

https://www.hagerty.com/media/market-trends/are-these-5-familiar-classics-finally-cooling-off/?utm_source=SFMC&utm_medium=email&utm_content=MED_UN_NA_EML_UN_WeekendRoadTrip_IS&hashed_email=7bf5dd8f265c833e683b10c320234ea7cb222d80e01b5de6176dc4b7524d9840

 

[spinshop]

Saw that today. Hagerty has my car up from $29K to $50K so it does surprise me that 64 to 67 down.

Vehicle​	Current value​	New value​
CHEVROLET MALIBU SS	$29,000	$50,500

 

[kmakar]

I'm not sure the values are dropping off just yet.... supply, demand, and the condition will always dictate the price (as well as what someone is willing to pay).

We are in a recession already so we'll see the values soften just a little because not many people will be buying.

 

[Chevelle_Nut]

I still say the muscle car markets are cooling is 1.) Original cost to purchase. The 80's sports cars can be had for cheaper than a 60's or early 70's muscle car. 2.) Age demographic. People have nostalgia for what they grew up with, for me that is the early 70's car. 3.) Buyer age. Many muscle car enthusiasts are reaching the age where they have their cars and are not buying, are getting rid of their cars or are passing away with no one that wants the cars. 4.) Cost to restore.

Gas prices have nothing to do with a muscle car, nada zilch. People will feed them the fuel and since most don't drive their cars much gas is not an issue.

 

[cage2592]

I know for my kids (who grew up around my cars) they have no care to drive let alone buy a fancy car. Most people these day just buy a regular and cheap car to go from A to B, no matter what it is. We all grew up in a different time where we had to drive to go do something. Now people have everything want at home. I know my kids and their friends just are not financially stable to buy an expensive car. Nor any idea how to work on them.

 

[Chevelle_Nut]

I know for my kids (who grew up around my cars) they have no care to drive let alone buy a fancy car. Most people these day just buy a regular and cheap car to go from A to B, no matter what it is. We all grew up in a different time where we had to drive to go do something. Now people have everything want at home. I know my kids and their friends just are not financially stable to buy an expensive car. Nor any idea how to work on them.

Agreed!

Kids nowadays base the life of an item by how long a cell phone lasts. These EV piles of are going to be expensive throw away cars. No way to mod them or replace stuff. Cell phone batteries go bad, get a new phone. EV batteries go bad, get a new car.

After I am gone the kids can do what they want with my cars. Until then they are mine to enjoy.

 

[hkalin]

Personally I can't see how people can put some of these prices on their cars and expect to get it. Even noticed some of these dealers don't seem to be moving some of their higher priced cars like they were in the past. It dosen't seem like there are as many cars out there for sale that seem to be real clean all the way thru. I feel a lot of guys mostly the ones that grew up in the 60's bought these nice cars up for themselves and are holding on to them. I feel prices are leveling out and will start heading downward unless things change in this country.

 

[SSuperDave]

I have friend in his early 80's, long retired, wife and one son deceased, and the other one lives cross country. We attends the Mecum and BJ auctions as a hobby, and once in a blue moon, buys a car. He said the market at that level is not dropping one bit over the last couple years that he has been attending, and is constantly amazed at what cars are bringing. He's on hi way back from Mecum Chattanooga right now, and Barrett-Jackson is here in Houston next week, so he'll be there every day.