Is it me or vintage car prices are going up?

[GGR]

I've been following prices for some cars such as the W111 Coupe, the W113 Pagoda but also the Jaguar XK and E-type in the past two years. I can definitely note an increase for the W111 Coupe and E-type FHC, as well as for the others even if in lesser proportions. This may seem strange in this economy, unless peole invest in cars rather than in stocks? Did other members notice the same trend?

[JMURiz]

I think it's just you...

I think parts for vintage cars are going up...but I sure as heck couldn't sell a W114, and a number of others have had the same luck.

People love them driving down the street but no buyers.

Maybe in 10 years or so the market will hit...after all of them have rusted away

[Skid Row Joe]

Originally Posted by GGR

I've been following prices for some cars such as the W111 Coupe, the W113 Pagoda but also the Jaguar XK and E-type in the past two years. I can definitely note an increase for the W111 Coupe and E-type FHC, as well as for the others even if in lesser proportions. This may seem strange in this economy, unless peole invest in cars rather than in stocks? Did other members notice the same trend?

What you are seeing likely are cars that become want ad stepchildren, because no one will pay the unrealistic high price it is listed at. They wouldn't be there, if they were selling/sold, now would they?

[GGR]

Originally Posted by Skid Row Joe

What you are seeing likely are cars that become want ad stepchildren, because no one will pay the unrealistic high price it is listed at. They wouldn't be there, if they were selling/sold, now would they?

Well, this would have been true two years go also I imagine. I'm refering to prices I see on eBay and Hemmings. I don't see why prices would go up if they were not selling? Wouldn't make much sense.

Prices do not rise for all models, I guess only for the ones "seen" as investments even if they share mechanicals with other models of the range. What I can see is that a nice W111 Coupe is now proposed at similar prices as Pagodas. This was not true two years ago, otherwise I would have bought a Pagoda, not a Coupe. They were half the price of Pagodas by then. In comparison, I don't think the prices for W108s have gone up.

[Squiggle Dog]

I can't seem to get more than $1,000 for the car below and I have lots of time and money into it...

[GGR]

That's a good looking car! I prefer the W110 to the W111 sedans, they look neater. If I were on your side of the continent I would certainly have a look at it.

[Tony H]

28 years ago I sold my High School ride-a '64 XKE roadster with black CA plates for $4000. I'm still kicking my self when I see what they go for now. Of course I would have had to put $$$ into it.

[Skid Row Joe]

Originally Posted by Tony H

28 years ago I sold my High School ride-a '64 XKE roadster with black CA plates for $4000. I'm still kicking my self when I see what they go for now. Of course I would have had to put $$$ into it.

You way overpaid for yours. Buddy of mine bought same car in Dallas, TX for $1,500 30 years ago. He's still got it. It is gorgeous, 35K miles, black rag top on silver on black leather, stick shift, wire wheels. But he should have sold it when prices topped out years ago and invested the proceeds elsewhere. He could have quadrupled his money elsewhere. They're not worth what you might think they're worth.

[jackson101]

The vintage car market went through some interesting change in the last decade or so. Mostly affecting the "US muscle car" market. These cars from the 50, 60, 70's had always been popular with collectors and enthusiasts. Then, investors got involved. They had been looking for a way to get some healthy and stable returns on their money, without much risk. Lots of money changed hands, prices for vintage vehicles started to rise, as one investor sold to the next, all expecting a 20-50% returns. Several auction houses sprang up and some that had been doing a 100K gross a month, now posted a gross of nearly 10 times that amount for the same period.
The "bubble" starts to expand. Now the market is limited to wealthy collectors and investors, artificially driving up the prices. Enthusiast can no longer afford to own a popular "muscle car". People are buying with the intent of selling and making a profit.
Like the "housing bubble", the vintage automobile market reached critical mass and burst. I read about an investor who got "stuck" with 50 cars, that he was never going to get nearly what he paid for them. As an enthusiast, I hope the prices come down and keep coming down. Driving and restoring these cars is fun. Unfortunately, investors looking for a hedge, in this unstable economy, may continue to keep prices a little higher than we'd like.

[Tony H]

Actually I sold it for $4000. When I got it I traded a volvo station wagon that I paid $1200 for. So I made a little on it. Like most people I look back on past cars and think "what if" but most of the old collector cars going for big bucks have had more spent on the restorations than they sell for.

Originally Posted by Skid Row Joe

You way overpaid for yours. Buddy of mine bought same car in Dallas, TX for $1,500 30 years ago. He's still got it. It is gorgeous, 35K miles, black rag top on silver on black leather, stick shift, wire wheels. But he should have sold it when prices topped out years ago and invested the proceeds elsewhere. He could have quadrupled his money elsewhere. They're not worth what you might think they're worth.

[Skid Row Joe]

Originally Posted by Tony H

Actually I sold it for $4000. When I got it I traded a volvo station wagon that I paid $1200 for. So I made a little on it. Like most people I look back on past cars and think "what if" but most of the old collector cars going for big bucks have had more spent on the restorations than they sell for.

I did not take the time to read your post correctly. My mistake. I apologize for doing so.

I can honestly report that I was so unmonied as a younger person, that I have never owned a car that would have gone into the stratosphere of value, had I held onto it.

When I reached the age of 28 or so, I quit going after extra cars anyway, because I did not realize the potential of some models, and I was more interested in putting the money elsewhere. All that, and I had no place to store cars, and I realized how costly cars were to just have around in maintenance, insurance, licensing, etc.

[Skid Row Joe]

Originally Posted by GGR

Well, this would have been true two years go also I imagine. I'm refering to prices I see on eBay and Hemmings. I don't see why prices would go up if they were not selling? Wouldn't make much sense.

Prices do not rise for all models, I guess only for the ones "seen" as investments even if they share mechanicals with other models of the range. What I can see is that a nice W111 Coupe is now proposed at similar prices as Pagodas. This was not true two years ago, otherwise I would have bought a Pagoda, not a Coupe. They were half the price of Pagodas by then. In comparison, I don't think the prices for W108s have gone up.

I still think that some advertise their cars at stratospheric pricing - hoping to snag a buyer. Again, ask yourself - if they were SELLING, they would not be advertised.

However, one thing that throws me off, is Mecum's Auctions past sales results. I guess the people that are willing to get their cars to auction, and give up the commission fees, are still getting BIG dollars for their vintage cars. IF, the car is very righteous!

[JimFreeh]

Originally Posted by Tony H

Actually I sold it for $4000. When I got it I traded a volvo station wagon that I paid $1200 for. So I made a little on it. Like most people I look back on past cars and think "what if" but most of the old collector cars going for big bucks have had more spent on the restorations than they sell for.

Tony,

It also depends on what you did with the money you received when you sold the car.

I was fortunate in the eighties to buy low and sell dear, and had a couple of cars I was able to ride the tide on.

We sold the cars coincident with a move to the San Fran Bay area, and plowed the money into a home there.

At this point, I wouldn't trade the home we have now (not in SF anymore) for either, or both, of those cars......

Jim

[Skid Row Joe]

Originally Posted by JimFreeh

Tony,

It also depends on what you did with the money you received when you sold the car.

I was fortunate in the eighties to buy low and sell dear, and had a couple of cars I was able to ride the tide on.

We sold the cars coincident with a move to the San Fran Bay area, and plowed the money into a home there.

At this point, I wouldn't trade the home we have now (not in SF anymore) for either, or both, of those cars......

Jim

Precisely, Jim.....

The 1977 Corvette I sold for $9,300 in '78, is now worth roughly $200,000.00 +/- in stock investments since. Had I still had the Corvette, today it is worth about $15K tops. PLUS 32 years of insurance/licensing taxes/inspections/maintenance. I made the correct choice for me.

[Skid Row Joe]

Originally Posted by jackson101

The vintage car market went through some interesting change in the last decade or so. Mostly affecting the "US muscle car" market. These cars from the 50, 60, 70's had always been popular with collectors and enthusiasts. Then, investors got involved. They had been looking for a way to get some healthy and stable returns on their money, without much risk. Lots of money changed hands, prices for vintage vehicles started to rise, as one investor sold to the next, all expecting a 20-50% returns. Several auction houses sprang up and some that had been doing a 100K gross a month, now posted a gross of nearly 10 times that amount for the same period.
The "bubble" starts to expand. Now the market is limited to wealthy collectors and investors, artificially driving up the prices. Enthusiast can no longer afford to own a popular "muscle car". People are buying with the intent of selling and making a profit.
Like the "housing bubble", the vintage automobile market reached critical mass and burst. I read about an investor who got "stuck" with 50 cars, that he was never going to get nearly what he paid for them. As an enthusiast, I hope the prices come down and keep coming down. Driving and restoring these cars is fun. Unfortunately, investors looking for a hedge, in this unstable economy, may continue to keep prices a little higher than we'd like.

jackson,

Check out the MECUM AUCTION website LINKS to past auctions.

The prices that some cars are going for with sales results, are impressive.