Barrett Jackson Auction

[Psycho1122]

I was thinking more along the lines of 2015 financial collapse. Anyone in the "know" is cashing in their chips. Dom "whispered" a comment in this thread....

http://www.vtcoa.com/forums/f17/2014-income-61526/

Maybe he will elaborate on what if anything he knows or is willing to share.

 

[seethrough]

Everyone that I know that collects cars still find them as a solid investment for the long term. I believe that is one of the reasons the auctions are doing so well these days is because more people are spending portions of their investment fund on cars. Cars are a tangible asset that you can see, feel, and occasionally enjoy and the value retention is partially in your control based on how well you care for it. I think people realized that cars were less prone to losing value like property did during the last bubble and I don't see banks writing junk loans to people on classic cars that tanks the value of them. I think the only impact on car values will be the migration of investors to a better investment platform and the audience that buys classic cars shrinking causing the escalated bids to diminish. I think this will hurt the investor who is in it for the short turnaround and profit but shouldn't hurt those that are collecting long term. I would be interested to know what percentage of people at these auctions are pure investors and which are car enthusiasts investing a portion of their portfolio.

 

[stealth78]

I was thinking more along the lines of 2015 financial collapse. Anyone in the "know" is cashing in their chips. Dom "whispered" a comment in this thread....

http://www.vtcoa.com/forums/f17/2014-income-61526/

Maybe he will elaborate on what if anything he knows or is willing to share.

I agree with you. The auto industry is just a piece of the puzzle but with that being said if the auto makers are careless and keep exerting themselves in this economy they will just be the first domino to fall... with many to follow.

 

[06SRT10]

Skypilot68, I understand about the weather. There are a lot of things in life we have to fight, here in Phoenix, weather isn't one of them. I like your thinking about Prescott & Payson. I have family living in both places. Good luck with your choices.