Interesting Talk With Mecum Auction

[chromebumpers]

I spoke to Dave Magers at Mecum’s a few hours ago. He had a wanted to buy ad in Hemmings and I have the parts.
Anyway, he asked me if I noticed the rapid rise in base cars (1959 to the late 1980s) if I was aware that Hagerty’s the leading parent company of over 20 insurance providers and expert in the collector car market has raised their estimates over 20% twice in the past 12 month?
Average prices realized at auctions are up as inventory and disposable income is up considerably this year. Dave said they have to turn away 5 or 6 times as much as they accept into auctions and it’s not because of the cars or the quality, they just can’t handle the volume currently. Just about any V8 coupe from the 1960s will see another 20 to 25% gain in the next 12 to 16 months. There a shortage in the supply of raw materials that will drive up manufacturing costs and passed on to consumers very quickly now. Expect deals and sales will drop off to less than 3% of total availability starting this fall. It’s expected our economy will grow at the fastest pace since the late 1940s over the next 6 years at least. Banking and financial institutions are lobbying for their share of this expanding market.

 

[chromebumpers]

Maybe I should reconsider my new plans and what I’m working on.

 

[Grumpy]

while the listed and expected auto prices may be expected to rise dramatically,
the number of people with the easy to dispose of cash reserves is getting lower.
while the older cars (especially the few in good condition) are getting much harder to locate,
the value, and the parts to rebuild are also becoming harder to locate as are the number of older and skilled geezers , available with the knowledge to recondition those cars.
you should easily be able to get more cash but the selective market,
for older cars,
is fast being reduced over time as are the number of people that want and understand and appreciate what the cars even look like,
or should look like, and what to expect in a decent rebuilt car,
or people that value the older cars, is also dwindling.
example
I've wanted to build a clone of the 1965 LEMANS I had in my younger years for decades
(it was not the fastest car I owned but its the one I miss the most)
http://garage.grumpysperformance.co...-resulting-from-an-engine-swap.898/#post-1469

finding a decent starter car in any condition that had even semi decent frame and suspension and sheet metal is nearly impossible,
at anything approaching a reasonable price,
and keep in mind I don't give a crap about the drive train, as I fully intend to replace that in its entirety

 

[Loves302Chevy]

There a shortage in the supply of raw materials that will drive up manufacturing costs and passed on to consumers very quickly now. Expect deals and sales will drop off to less than 3% of total availability starting this fall. It’s expected our economy will grow at the fastest pace since the late 1940s over the next 6 years at least. Banking and financial institutions are lobbying for their share of this expanding market.

So for the rest of us, that means "get the Vaseline out and bend over"?

 

[chromebumpers]

Grumpy, what is a reasonable price for a 65 Lemans, reasonable in your terms?

 

[chromebumpers]

I know first hand what it’s like to have given up that special car, mine was a ‘67 Camaro Super Sport in Bridgehampton Blue with White stripes, 327 and a 4 speed (see photo of similar car). I’ve had many cars anybody could easily say were better than that Camaro and that’s probably what kept me from buying one over the years since. I think that’s a Z/28 because they didn’t have badges in ‘67.

 

[chromebumpers]

Prices for used cars and trucks continued their sharp rise, increasing 10.5 percent compared to the previous month, and 45.2 percent compared to last June. That rise accounted for more than one third of the seasonally-adjusted price increases. The used car market, which relies heavily on trade-ins and auto parts, has been dogged by a global microchip shortage and a supply chain backlog that keep new cars from rolling onto the market. Courtesy: UPI News

 

[Grumpy]

Grumpy, what is a reasonable price for a 65 Lemans, reasonable in your terms?

for the next year or so I think Im completely out of the market for a new project,
as its looking like Ill be moving to texas IN THE NEXT YEAR OR SO.

 

[chromebumpers]

Someone will get a great garage building!
What’s gonna happen to the DIL?

 

[Grumpy]

shes going to get smacked with reality once I stop financing her