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Classic car bubble


d3c0y

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1 hour ago, NickF said:

 10000 coins traded for $40 for 2 pizzas worth  $850,000,000 today 

 

Yes, I recall living in Europe after the GFC and reading about BitCoin early in 2010 and I was very intrigued by it. I had no idea how to start using it or buy into it but I was tempted to start using it then. 2015 I was going to buy some at $900 a coin (probably 2) but was talked out of it by my then manager at Google.

Truth be told I probably would have cashed in during the 2017 price boom, but I still regret not buying back then!

I also contemplated buying again at the start of Covid when the world's banks started their massive QE program, but I was nervous about allocation my money into it at the time because I was unemployed and had a child on the way and was starting to pay a mortgage and nobody was hiring (I left my job to move back to Melbourne at precisely the wrong time)..

Anyway if I had of bought at those times I would have done well. But I'm quite conservative with risk taking and only gamble what I'm willing to lose.

But my advice to young people is don't bother saving into a traditional savings account. Instead buy into a stock  / index fund instead. And just HODL during the market dips / crashes..

I made the mistake of saving money via bank deposits for several years.

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hindsight is a wonderful thing gav! I think we all wish we bought Bitcoin! I’m much the same, conservative risk appetite. All this crypto business reminds me of the dot com bubble when people were pouring money into anything internet related, half the companies weren’t actually doing anything. 20 years later only a few companies still exist. chance of choosing the right company....slim...

I think there’s still a place for savings accounts, in that if your goal is to save a deposit for a house, you don’t exactly want all your money at risk in the market. For example it took 20 years for the US market to recover to its old high after the Great Depression. 

but I agree, index funds for the win

 

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37 minutes ago, 240ZBUILTBYME said:

All this crypto business reminds me of the dot com bubble when people were pouring money into anything internet related, half the companies weren’t actually doing anything. 20 years later only a few companies still exist.

Yep I remember those times well...

https://en.wikipedia.org/wiki/Pets.com

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1 minute ago, brent012 said:

Has anyone else noticed a seemingly coordinated push from YouTube creators to make Saab 900 Turbo videos over the last few weeks, or has the algorithm just figured out that I watch some of them?

The algorithm has spoken, but yes I've seen similar. Machine learning has determined that automotive trends are happening and suggests content for you.

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11 hours ago, brent012 said:

Has anyone else noticed a seemingly coordinated push from YouTube creators to make Saab 900 Turbo videos over the last few weeks, or has the algorithm just figured out that I watch some of them?

You watched one 900 video (probably the hagerty one like I did... 

and now YouTube has decided you need to watch all the 900 vids lol

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2 hours ago, 240ZBUILTBYME said:

Even grandpas Volvo 240 isn’t safe from inflation....

We had a Volvo 240 (or several in the family) as kids. My dad was into Volvo's having had an P1800 (or 2) before I was born. He loved them, I considered getting 1 a few times because they were so cheap and fairly hard to kill. But instead I got the Japanese Volvo, the Stagea :).

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2 hours ago, gav240z said:

We had a Volvo 240 (or several in the family) as kids. My dad was into Volvo's having had an P1800 (or 2) before I was born. He loved them, I considered getting 1 a few times because they were so cheap and fairly hard to kill. But instead I got the Japanese Volvo, the Stagea :).

P1800s are very cool. Have you seen the Resto mod CYAN P1800?

I actually have always loved Volvo 240s particularly the wagons. I would have loved to create a sleeper 240, but my mechanical skills and knowledge is far too weak.

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https://www.hagerty.com/media/market-trends/a-japanese-car-will-sell-for-2-million-plus-4-more-predictions-for-2022/

As much as we love a great barn find, the "ran-when-parked" segment of the classic car market has been declining for some time and will, we suspect, continue to do so. There are some generational trends at work; aging baby boomers may be less inclined to take on a restoration that will carry into their 80s, and many younger enthusiasts are after vehicles they can use and enjoy with their families. Meantime, the skilled craftspeople who can execute big restorations are themselves aging and leaving the industry faster than they're being replaced, and shops are facing the same labor and parts shortages as everyone else. This slows down projects and drives up costs, but the biggest factor is simple math. It's rather tricky to bring a rough car back to life without winding up financially underwater. As such, cars with minimal needs will continue to be the most sought after.

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6 minutes ago, gav240z said:

As such, cars with minimal needs will continue to be the most sought after.

I have noticed more restored cars coming up for sale but what percentage actually sell. Price is the main driven factor on a fully restored 70's car and the market is full of buyers who low ball and waste sellers times with no consideration for the money spent on the restoration. 

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5 hours ago, JDM-TOY said:

I have noticed more restored cars coming up for sale but what percentage actually sell. Price is the main driven factor on a fully restored 70's car and the market is full of buyers who low ball and waste sellers times with no consideration for the money spent on the restoration. 

I've noticed Facebook is a cesspit of experts on prices of what cars should cost. Everyone has an opinion on what it should cost etc..

Often very naive opinions abound as to what these (and other) cars are worth or cost to build from people who have never even attempted a restoration.

I find it very frustrating to be honest. I wish more of them would go play in traffic.

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As the everything bubble expands and rages on, nothing is immune from booming in price.

Hipsters in 70s era Kei Trucks are gonna shoot those 2 stroke motor trucks to the moon higher than doge coin next!
https://www.hagerty.com/media/car-profiles/japans-pipsqueak-work-trucks-and-vans-are-a-o-kei/

And even crappy Subaru 360's are not immune to the madness either.

https://www.hagerty.com/media/valuation/once-cheap-and-ugly-the-subaru-360-is-having-an-unexpected-moment/

But I'm not sure why these collectors suddenly think they are worth gold. Or who else will want to pay more for them in future? Perhaps we won't run out of greater fools?

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https://www.hagerty.com/media/market-trends/hagerty-insider/why-japanese-car-parts-are-getting-harder-and-pricier-to-source/

Quote

For instance, Toyota’s catalogue supports the Supra, 2000GT, Trueno, and Land Cruiser. If you have a Sera or a Celica, you’re out of luck for the time being. Mazda Japan currently supports the MX-5 and RX-7 with a limited parts list, while Mazda USA carries a healthy supply of parts for the MX-5 but does not stock RX-7 components. Nissan tells us there is “talk” of expanding support for other cars, such as the Z.

Worth a read. Although nothing we S30Z owners didn't already know.

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