Longhood Market Declining? Just wondering....

[joegt3cup]

I had a friend who use to think this way so I once told him "what would you rather have a nice car in your garage that you can drive and enjoy or sitting in a empty garage on a lawn chair waiting for the mailman to come by and hand you your financial statement?" Life isn't all about money, it's short, so enjoy it while you can.

[LongRanger]

. . . had a friend who use to think this way so I once told him "what would you rather have a nice car in your garage that you can drive and enjoy . . . or . . . waiting for . . . your financial statement?" . . .

True 'nough

But --- if I'd deferred my gratification? . . .


. . . coulda had a house, a garage, a yard, AND a car . . . or 5


All my cars have a built-in 'opportunity cost'


I NEVER consider them investments . . .

. . . more like entertainments




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[mrar]

I posted a response in wrong thread, had to edit.
Anyway, just enjoy your cars if you can.

[jaudette3]

Methinks the bloom is off the sage. Now we can start forgetting about $$$ and enjoy them for what they are - magnificent driving machines.

[69Sman]

What does anyone think, if anything, of the auction results at Air Water (Broad Arrow.). My observation? None of the early cars (356 to Longhood 911's) sold well. I would actually say, I was shocked at some of the low prices, especially the Longhood 911's. Thoughts??

[prs356]

I also watched the Broad Arrow auction. I was particularly interested in the two 65 911s, one sold the other was RNM.

I think that the prices for the early Porsches have on average either peaked or are on the decline, especially for non-matching number cars and projects. The “perfect” examples (numbers-matching and fully restored car) tend to hold their value. I question whether the auction house format is a true indicator of where the prices are headed generally. The 12-20% premiums charged by the auction houses have to be taken into consideration when looking at completed sales. BaT’s $5000 cap makes buying cars on BaT a little more palatable. I personally think that private sales are the way to go, and many of those sales are, as the name implies, private for a variety of reasons.

[LongRanger]

. . . private sales are the way to go, and many of those sales are, as the name implies, private for a variety of reasons . . .

Yeah, like . . . 'Honey, I just got my ass waxed selling that stupid car you hated'


I had this Econ Prof give me a sage observation, once

He said: 'Capital will always seek a return'

Which means, all that money --- that used to go into one kind of high-return stuff (like cars? really?) . . . is now going someplace else. What a shock!


You see the markets last year?

The US stock market bumped over 25% in 2023

So with numbers like that? . . . why would anyone put money in cars?


The question I would ask is? . . .

. . . what are all those Buyers who did buy all those cars during the Pandemic doing with those cars --- and their money . . . now? Or this year?

And with the US elections coming up --- and another forecasted bump in the markets . . . where would you think any capital is headed this year?


IMO . . . . it's so NOT going to Longhoods




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[John Fusco]

I've always believed that people who buy these cars as investments, not appreciating fully their qualities as cars, get what they deserve - win or lose.

[NZVW]

I've always believed that people who buy these cars as investments, not appreciating fully their qualities as cars, get what they deserve - win or lose.

Yes.

Investment vehicle buyers are usually not 'drivers'.

The enjoyment of man/(person) handling a well running 911 over tarmac or dusty beat up roads is priceless (to those who are kindred).

Who gives a rats arse whether you paid 5k or 150k.

If you'r into pushing your skills of enjoyment, regardless of how much you may have forked out, the pure pleasure of driving these cars is PRICELESS.

The only thing 'declining' is probably fear of capital loss and reflex time.

[LongRanger]

. . . I've always believed that people who buy these cars as investments, not appreciating fully their qualities as cars, get what they deserve - win or lose . . .

My point is --- IMO . . .

. . . those same people who pushed UP the prices, two years ago . . .

. . . are now moving on to something else --- taking prices DOWN as they leave


This is still a market --- with supply and demand . . .



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