6 years from the GFC - how have values of collectable cars been affected?

[Trevor 57]

Originally Posted by xxx000

The absurdly high prices for HO's were created by a cunning and illegal scheme by a few crooked people. It was unsustainable and so prices have eased back to good but realistic figures.

sorry, should have read down further, this is what I was saying above ^^^^^

[Trevor 57]

mind you, based on recent sales of 'original' ish XP coupes mine has increased in value in the 4 years I have owned it

[xxx000]

Originally Posted by Trevor 57

the reason for those very high prices for the Phase III's was that a couple of speculators drove up the prices by selling to each other, then when the price was high they put them on the open market, there was an expose about them and what they did

a criminal enterprise by others prior to this got the ball rolling though

[GASWAGON]

Originally Posted by xxx000

a criminal enterprise by others prior to this got the ball rolling though

Bastards...Now they have ruined it for everyone else.

Mind you I have been watching 'wrecks to riches' on youtube and the classic car market in the U.S seems to still quite strong especially in California.

[Rob1964]

I have read before that all the FC holden type enthusiests & buyers
are dying off, so it makes you wonder if your thinking of the future & making some
money on a car you should by what the kids can't afford now like FPV models
in particular F6's &GT's they are so much better value than the old stuff &
light years ahead in mod cons, performance,braking & handling, so buying
something 2-4 years old most of the depreciation has been realised!
I'm 50 this year & i've had a lot of hot cars overthe years & i have settled on a
older F6 as a practical modern day tourer that should'nt lose to much in the long run!

[XP6]

Time will tell with modern cars... you reckon the factory electronics that our cars are stuffed full of will still be working in 40yrs time?

[GASWAGON]

Originally Posted by XP6

Time will tell with modern cars... you reckon the factory electronics that our cars are stuffed full of will still be working in 40yrs time?

I doubt it.....NO modern car will outlive a classic.

[Rob1964]

The old cars are definately built to last but if there is enough demand
for re pro parts on the newer cars in the future then there's money to be made
and they should live on as well

[78xcgxl]

Originally Posted by XP6

Time will tell with modern cars... you reckon the factory electronics that our cars are stuffed full of will still be working in 40yrs time?

EBs are now 23 years old and electronics are still operating well. Newer cars have a better build qaulity and are longer lasting than classics in pretty much all aspects. Body on E series falcons rust very little compared to Xseries, engines are able to clock higher km, most electronic work if looked after. For example have a look at panel gaps on an original untouched XA,XB,XC they are shocking from the day they left the factory.

[Rob1964]

Your right78XCGXL the newer cars are finished off so much more
precise, i had an XY faker years agothey had a lot of faults with their
attempts at plastics ie dash fascia screw holes, console lids were like gold
,dash pads & yeah panel gaps were huge in places! So if technology keeps
advancing in cars software & computers todays cars should seem basic in years
to come & the 70's cars, well they will seem so crude & basic it wont be funny!

[buggerlugs]

Originally Posted by KW XRT

Don, t know where you been hiding for last six years but the gfc has dev hit.australia got through it very well but lots did not go well.we have 80 billion in investment over 6 years but already house prices have dropped by nearoy 20%.

We got thru it because we had plasmas and money thrown at us. What Zilo is saying is that we haven't had our GFC yet. When the reserve bank governor drops interest rates to stimulate the economy as the yanks done , and nothing happens, then we have to start worrying.............

[Mesa]

Originally Posted by KW XRT

Don, t know where you been hiding for last six years but the gfc has dev hit.australia got through it very well but lots did not go well.we have 80 billion in investment over 6 years but already house prices have dropped by nearoy 20%.

House prices dropped by nearly 20%??? Where?? On the 6pm news EVERY ******* Saturday on all the major tv stations you can guarantee there will be a story around 6:20 on the 'record auction sales' and 'record prices paid' for housing. It's that regular you can almost set your watch by it.

The muscle car market was always over inflated. Thing are just starting to come back to a realistic level. For example I swapped a full 700ml bottle of Jim Beam for a HQ GTS Monaro in 2008. I expect once prices return to a realistic level the vehicle will be worth approximately two Toohey's New long necks.

[Bearman]

Thinking about this why is the question being asked? As far as I can tell the only people who would be having sleepless nights over this are:
- Speculators and non enthusiast investors.
- people who paid over the odds for a car and seeing their investment go south.
- People who may have warehoused a desireable survivor they got from some old cracker for next to nothing and hoping to make a quick bazillion out of it.

In other words people who have gotten into these cars for all the wrong reasons.

From my perspective there is no way I could ever justify $80K for a XA or XB GT Coupe and that is why I'll never own one.

I got my coupe just before prices went silly so I was really lucky. Had I missed out I probably will have remained coupe-less to this day. If I ever had to, or decided to sell it of course my asking price would be around market value but even so, I'd still lose money.

It's an indulgence, a hobby, a feel good thing. Not a freaking investment!!!!!!!

I sleep well.

[xr6tjet]

I know a lot of young people that love classics. Just go to one of the muscle car meets in Melbourne... There is a market for old cars just don't assume to make a fortune off them. I would pay top dollar for a car if I knew it would make me happy as larry. Not for the resale value... Invest in houses if you want resale value!

[tlub]

I think that the purchase of a and I call WANT for use of a better word (car boat bike house etc) must be done because you can and not because you may make a buck oneday. personally I hope the prices of muscle cars stays steady or rise but really id didn't buy any of them to sell .

[something wrong]

Originally Posted by KW XRT

Don, t know where you been hiding for last six years but the gfc has dev hit.australia got through it very well but lots did not go well.we have 80 billion in investment over 6 years but already house prices have dropped by nearoy 20%.

In the last 5yrs my house (Sydney north west) has nearly doubled in price, and in last 12/18 months has risen 17%. I cannot think of one area that has had a 20% drop.

[290v]

was at Pickles auctions the other day saw a 2011 FPV GT for $40,000 it had 2,500 kms on the clock

[Rob1964]

There the bargains i'm talking about 290v

[OLDFORDNUT]

a mate of mines dad got huge money for his unrestored HO at the top of the market several years ago ,so they were happy bunch but i find it strange to read on here it was some sort of illegal activity,How? you get offered rediculous amount for your car like he did and took best agreed offer from two or three buyers ,good luck to him,He is an Honest hard working man all his life and i take offence to anyone calling him a criminal because of others actions

[Bearman]

At that market peak a bloke I know was offered silly money for his very nice XW GT. he jumped at it, bought 2 coupes and still had plenty of change. Set him up nicely.

He told me he had a mate also with an XW GT, same situation he knocked back the offer fishing for more money. The thinking was if they are worth this much now imagine in 6 or 12 months time....... The dude got greedy and to my knowledge still has his XW GT. Can't even get half of what he was offered. Fool.

[Blue Roo]

Originally Posted by Bearman

At that market peak a bloke I know was offered silly money for his very nice XW GT. he jumped at it, bought 2 coupes and still had plenty of change. Set him up nicely.

He told me he had a mate also with an XW GT, same situation he knocked back the offer fishing for more money. The thinking was if they are worth this much now imagine in 6 or 12 months time....... The dude got greedy and to my knowledge still has his XW GT. Can't even get half of what he was offered. Fool.

The moral to the story is.
There are people out there that are greedy and eventually get their fingers burnt.
I love Karma!

[xxx000]

Originally Posted by OLDFORDNUT

a mate of mines dad got huge money for his unrestored HO at the top of the market several years ago ,so they were happy bunch but i find it strange to read on here it was some sort of illegal activity,How? you get offered rediculous amount for your car like he did and took best agreed offer from two or three buyers ,good luck to him,He is an Honest hard working man all his life and i take offence to anyone calling him a criminal because of others actions

I'm not going into details but the crazy prices were started by an illegal criminal enterprise.
Once the ball was rolling genuine legit people started buying and selling at higher and higher prices.
Nobody is calling those legit people criminals as they were unaware it all started as a scam of sorts.

[OLDFORDNUT]

ok fair enough