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d3c0y

Classic car bubble

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I'm already told I need to build a garage first. No more cars. I agree.

 

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GTRs are holding value at the moment. (good ones) About the only car I am interested in adding to my collection.

But a lot of junk is being floated on the market (under the guise of testing the waters of course)..

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I'll also add that I don't think we have seen the fall out in stock markets yet, I think we will see further price drops in the market.

That includes real estate and some segments are gonna be hit harder than others. Cookie cutter apartments for example. Desirable homes on decent blocks of land close to the city will hold value better but still get a good clipping.

My expectation is that classic car values will decline short term. I'm seeing lots of project cars on the market all at once.

Good time to be a buyer if you have the cash and take a long term view. IMHO.

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Yeah I think that the lower end will decline for the short term but I also think the higher end of the market will keep their values. There always is that percentage of people who still have money to spend regardless of how the economy is going. 

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Funny to read this 2009 article:

Quote

The share market is shot, superannuation is in “negative growth” whatever that means, house prices are dropping alarmingly and interest rates look like falling. Where can you make an honest investment dollar these days? Well, art has some attraction but the numbers involved would make plenty of people tremble in their boots.

What about collectable classic cars?

https://www.carsguide.com.au/car-news/tokyo-drift-23526

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Mazda's 1960s R100 coupe is worth a look at 10 grand according to Chris' as is the original, glass back RX7.

“The RX3 is also good buying at $25-35,000 if you can get a good one and it should appreciate if looked after,” Chris' said.

”Then there is the late '90s twin-turbo RX7 and RX7 SP - a locally fettled hotrod that will appreciate because it was a low volume performance car.”

R100's are now 6 figures along with RX2's and RX3's..

FD RX-7's now routinely sell above $50k.

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Nissan has plenty of collectable cars dating right back to the 1960s. Think Datsun Fairlady sports cars, Datsun 240Z and 260Z coupes and of course the R32 Skyline GTR Godzilla Bathurst winning car - (Australian spec) of which only 100 were imported by the factory. You'll pay about $35,000 for Godzilla these days and it's on the way up for a decent standard one.

Good GTRs are $70k+ and it doesn't mention the 240z/260z prices back then. But they were routinely in the $10k range.

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When I was 18 I had 3 RX2 coupes and an RX2 sedan all at the same time in the backyard at mums, I let them all go for peanuts, if I could just go back and tell the young me "sell the Datsuns and keep the rotaries"

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3 hours ago, sidedraught said:

When I was 18 I had 3 RX2 coupes and an RX2 sedan all at the same time in the backyard at mums, I let them all go for peanuts, if I could just go back and tell the young me "sell the Datsuns and keep the rotaries"

You should be ashamed of yourself! sell the Datsun's

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No more soup JDM for you!
https://prestigemotorsport.com.au/dead-aust-imports-r34-supra-rx-7-silvia-others/

Quote

 

The sudden swell in demand for an ever-diminishing pool of desirable classic cars resulted in panic buying from June 2020, with many realising this is their last chance to own one of these cars.

Desperate buyers are now scouring the world causing prices to rise week after week not only in Japan but in every other country these cars have been exported to over the years.

The cars for sale already in Australia have dropped to record low numbers and sellers are pushing up their prices way ahead of the market, trying to take advantage of the situation.

From January to September 2020 we have seen price rises in Japan of at least 30% for all these models and up to 300% on some rare collector cars like purple and blue R34 GTR’s.

 

Seems like a fair bit of irrational exuberance is going on.

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These guys are basically talking about what I've been telling a lot of people lately.

 

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4 hours ago, gav240z said:

These guys are basically talking about what I've been telling a lot of people lately.

 

Next time before I watch a clip by these guys im going to down 2 six packs of VB so that Im at their humour level 

Edited by JDM-TOY

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