Classic car bubble

[JDM-TOY]

The reason I ask is that I have someone hassling me to sell him my GTiR so I was thinking should I hold or sell and buy something else.

Toooo much pressure ATM, not sure what to do, will the GTiR increase or................

 

@gav240z @240ZBUILTBYME

[gav240z]

31 minutes ago, JDM-TOY said:

Toooo much pressure ATM, not sure what to do, will the GTiR increase or................

Tough question, as someone who had an 1989 AE92 Corolla SX previously the GTiR was the step up in terms of 90s hot hatch. I don't think prices will boom going forward, rather be a slow increase over time.

[JDM-TOY]

11 minutes ago, gav240z said:

Tough question, as someone who had an 1989 AE92 Corolla SX previously the GTiR was the step up in terms of 90s hot hatch. I don't think prices will boom going forward, rather be a slow increase over time.

I was also in the same mindset of slow increase over time. I think this will be the case with a lot of JDM cars in the market except the 240z, this will hit the million dollar mark in a few weeks lol

[JDM-TOY]

On 10/15/2021 at 11:04 AM, JDM-TOY said:

I was also in the same mindset of slow increase over time. I think this will be the case with a lot of JDM cars in the market except the 240z, this will hit the million dollar mark in a few weeks lol

@gav240z told you, now look at the 260z catching up to 1 million 

 

http://www.gumtree.com.au/s-ad/1283343228?utm_campaign=socialbuttons&utm_content=ios_VIP&utm_medium=social&utm_source=sms

[gav240z]

RX-3 Savanna Wagon.

https://page.auctions.yahoo.co.jp/jp/auction/d1014200883

Sold for $46,153.15 USD or about $61,357.57 AUD.

 

[JDM-TOY]

All the reason to buy a Datsun 240z

https://www.drive.com.au/news/dying-breed-the-decline-of-manual-hot-hatchbacks/

[gav240z]

https://www.carsguide.com.au/car-news/can-the-nissan-gt-r-toyota-supra-and-mazda-rx-7-reach-the-high-prices-of-the-holden

90s Japanese halo cars on the rise..

[260DET]

On 10/15/2021 at 9:21 AM, JDM-TOY said:

The reason I ask is that I have someone hassling me to sell him my GTiR so I was thinking should I hold or sell and buy something else.

Toooo much pressure ATM, not sure what to do, will the GTiR increase or................

 

@gav240z @240ZBUILTBYME

Have you checked the number for sale and prices, Carsales is handy for that. If it's a clean original I'd hang onto it unless you can get a Z to replace it..

[260DET]

On 6/17/2015 at 10:19 AM, 260DET said:

What amazes me is the difference in price between beetle Porsches and the 944 the prices for which vary wildly but go nowhere near the beetles. A reasonable 944 can be had for under $10k, cheaper than a sound S30. But of course real men drive beetles not 944's 

Look at the date and check those prices now. Sporty coupe prices have gone crazy and availability is tight, everything including BMW's and Mercs.

[JDM-TOY]

30 minutes ago, 260DET said:

Have you checked the number for sale and prices, Carsales is handy for that. If it's a clean original I'd hang onto it unless you can get a Z to replace it..

Deposit already down for the Z Proto.

[gav240z]

22 minutes ago, JDM-TOY said:

Deposit already down for the Z Proto.

Have you been given an indication of price?

[JDM-TOY]

1 hour ago, gav240z said:

Have you been given an indication of price?

No final price as yet

[260DET]

Seeing that this is a bubble thread a certain sporty model Mercedes was selling for around $30k a couple of years ago. Now several of them are listed in the $90's, true bloody story. But a disclaimer, what is happening I think is that long term owners saw a couple advertised in the 90's and decided to cash in. But it's a bubble price, a real bubble price.

[gav240z]

Which car are you talking about?

[JDM-TOY]

2 hours ago, 260DET said:

But it's a bubble price, a real bubble price.

I feel like the world has gone mad, everything is over priced and now they are talking about inflation rising. I think that they missed the boat on inflation in Jan Feb March 2020. 

[JDM-TOY]

Who said bubble?

 

[gav240z]

1 hour ago, JDM-TOY said:

I feel like the world has gone mad, everything is over priced and now they are talking about inflation rising. I think that they missed the boat on inflation in Jan Feb March 2020. 

Well that's the whole point, inflation means rising prices. Some assets have risen more than others. But official inflation rates don't factor in assets like classic cars, cost of houses (only rent) and things like crypto or stocks.

But try and they might to hide inflation, it's massive right now and for me that's why I'm long assets as short on cash.

 

[JDM-TOY]

On 11/19/2021 at 9:45 PM, gav240z said:

Well that's the whole point, inflation means rising prices. Some assets have risen more than others. But official inflation rates don't factor in assets like classic cars, cost of houses (only rent) and things like crypto or stocks.

But try and they might to hide inflation, it's massive right now and for me that's why I'm long assets as short on cash.

I agree

Everything has become expensive, just shop at your local grocer and you will see that $50 buys you nothing but a few pre packaged items and some milk and toast if you are lucky. I remember my mum shopping at Franklins and having two shopping trollies full and it was about $60. But I guess $60 was a lot of money in the late 80's based on inflation and CPI it would be around $200, but even in todays money you would be lucky to get close to a full trolley for $200 excluding items such as nappies, formula, detergents.......... these items will kill your shopping bill, from experience lol 

Long term assets and cash are King

[gav240z]

Inflations is a hidden form of taxation and IMHO is a form of theft. On earnings you've already paid tax on.

[JDM-TOY]

34 minutes ago, gav240z said:

Inflations is a hidden form of taxation and IMHO is a form of theft. On earnings you've already paid tax on.

Definitely is a hidden tax. People dont get that we only take home 30 to 40% of our income after taxes. GST basically on everything every time you buy, income tax, stamp duty, bank interest, luxury car tax....... I would go further to say that all insurances and all other forms of Gov payments are taxes.

The only thing thats free is air and soon we will have a global tax to combat climate change (stated by Janet Yellen, FED Chair)  so we are basically screwed. 

I even heard that the Fed Government wants to tax inheritances and State Governments want to have a rain run off tax, meaning if you dont capture a % of rain water falling from your home roof you will be taxed 

 

[AndBir]

2 hours ago, gav240z said:

Inflations is a hidden form of taxation

True, for money yet to be spent it pushes up prices but spent/borrowed money is then "cheaper". In the past people's wages would increase to cover inflation but not so much now. The hidden benefit of inflation is that the "real"/current value of borrowed money decreases (ie your mortgage) so as long as the RBA does not go stupid and push up interest rates you could say you can be better off.

[240ZBUILTBYME]

Governments needs inflation to decrease its debt. Inflation means they collect more tax and the value of their debt decreases. Obviously they just don’t want it running 1987 hot... 

all we can do is make sure our money is in assets increasing faster than or at least in line with inflation, so go buy a GTR! 

*this is not financial advice 

[240ZBUILTBYME]

I’m betting that they have to raise interest rates much sooner than they thought to cool inflation. And I bet majority of households haven’t accounted for paying a mortgage at a 2-3% higher rate...

[gav240z]

I think it's also why they are desperste to reboot migration. Because migrants are willing to accept lower wages and worse working conditions (at an aggregate level), which gives business a cheap labor pool, that's why they keep saying inflation is transitory. Because without migration they would need to offer higher wages and better working conditions to attract local workers, which would have the effect of causing wage inflation..

And the problem is not migrants themselves, it's the workers collective bargaining power has been destroyed over 30 years. Many migrants come from counties with even worse working conditions and lower wages, hence will accept poor conditions here becuse from their frame of reference things are much better here.

But I think rebooting migration won't work because there are supply side challenges causing inflation due to restrictions abroad for workers which is slowing supply chains, pushing the price of goods up. And that is harder to solve.

As for rates going up, it appears they are doing everything in their power to keep them low, even in the face of crazy inflation in specific assets. And if there is a market crash of some sort (stocks / real estate / other assets) the solution from a central banker perspective is to just print more money and push rates back to 0%.

I honestly don't see how they chart a path out of this mess. It seems raise rates market crashes. Keep rates low prices of assets continue to go nuts, but wages remain stagnant.

So yeah buy a GTR, or something of value to many people. I've bought some BitCoin (small amount <$10k) as a hedge against this stupidity. Even if some think BTC$ is stupid. So far it's been far better than holding cash in the bank.

This is of course not financial advice but I'm also doing things to lower my bills like installing solar panels to offset energy costs. And I managed to negotiate a 50% pay bump in my new job. (Not everyone is so lucky I know).

Also want to expand the veggie patch in my yard.

 

 

[NickF]

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