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1950's Cadillacs

24

Comments

  • Mr_ShiftrightMr_Shiftright CaliforniaPosts: 44,403
    I'd guess real money is $35K, plus add for the B-J inflation, plus add the buyer's fees, so yeah, it could hit $40K--$42K.

    Hard to say---the extreme upper end of the classic car market is *HOT* but the under $50K market is a bit soft, and really, not too many people want early 50s car---so we'll have to see.

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  • parmparm Posts: 723
    A soft market for cars less than $50K is certainly no surprise. But, I must say, I'm rather amazed to hear the $50K+ market described as "HOT". Heck, I didn't think there was ANY sector of ANY market (guns, butter, take your pick) that could be described as being any better than "luke warm" right now. I wonder why that is?

    I'll render a guess. Obviously, there will always be some market participants who aren't fazed by economic conditions, no matter how bad they get. These folks would tend to gravitate toward cars in the $50K+ range. Likewise, some sellers of $50K+ cars have probably been negatively impacted by the economy and thus may be unloading some of their toys at disposition/liquidation prices (at least according to them) - thereby creating the "perfect storm". Am I close???? :blush:
  • Mr_ShiftrightMr_Shiftright CaliforniaPosts: 44,403
    edited September 2010
    I don't see how the uber-wealthy would be interested in $50K cars. They are currently buying in the $ 1/4 million to $15 million collector car market.

    I think what we see here is merely a reflection of the decline of the American middle class. Whether permanent or temporary, we don't know. Certainly, this rich/poor -with-nothing-in-between economic model has been predicted in some circles for the last decade, otherwise known as the "Banana Republic Syndrome" (my terms).

    On the other hand it could be nothing more than the usual depression of the "Toy Market" when we have recession.

    It is sobering however, to watch the enormous sums of money being spent, as we speak, as unrelenting waves of cash crash against spectacular cars with mind-boggling prices. It's not just the occasional $10 million dollar bidder---they are lining up to buy. There is not even the hint of recession at the tonier auctions, neither inside or outside the tent. It felt to me more like a Parallel Universe that I obviously don't live in :shades:

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  • parmparm Posts: 723
    You're probably right. But, "On the other hand it could be nothing more than the usual depression of the "Toy Market" when we have recession." if that were true, then it should impact values across the board - not just those less than $50K. Naturally, and as you pointed out, nothing impacts cars in the "uber-wealthy" segment which is really a market unto itself that knows no world market economic contraints.
  • euphoniumeuphonium Great Northwest, West of the Cascades.Posts: 3,321
    "Those who can - do, and those who can't- philosophize".
  • parmparm Posts: 723
    Guilty as charged. With two kids in college and my business volume down right now, all I can afford to do at the moment is philosophize. :sick: That's kind of the point of this discussion group. ;)
  • Mr_ShiftrightMr_Shiftright CaliforniaPosts: 44,403
    Well to a point but there are players in the big bucks car game who are vulnerable. We have seen some very ugly bubbles burst in the collector car market, even in the multi-million dollar realm.

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  • Mr_ShiftrightMr_Shiftright CaliforniaPosts: 44,403
    So Plato was a business failure? :P

    No we aren't philsophers. We are Classic Car Market Pundits! I mean, the people who claim to be "experts" and do cameos on economics on various TV news shows have proven to be as equally wrong as we have been.

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  • andre1969andre1969 Posts: 21,846
    I wonder if this recession has has caused very many people to re-think their attitude on money and what they spend it on? While the recession has been officially "over" since June of 2009, there's still a lot of pain and suffering going on, and a great deal of people will probably never recover financially. I'm sure that's taken a lot of people out of the collector car market, or at least, the lower end of it.

    I'm sure that by now, a lot of people who were well-off before the recession are even more well-off now. Recessions tend to widen the gap between rich and poor. While the poor get laid off, lose their home, have to cash in savings and investments, etc, the rich can simply move funds around, and buy more stocks, mutual funds, real estate, etc, at drastically reduced prices, and reap the rewards when the economy, and prices, finally improve.

    But still, I'd imagine a lot of people, even the more well-off, are more cautious these days. I'm actually better off financially now than I was 3 years ago, when we started sliding into the recession. But, I'm also a lot more cautious. I saw my portfolio drop by slightly more than half, at the worst of the market, only to have it rebound to its previous peak and then some. But, if it did it once, it can do it again. And that has me thinking twice on whether I want to buy any more classic cars. Heck, I'm even beginning to wish, sometimes, that I hadn't embarked on my journey to get my '57 DeSoto roadworthy again! But, if I didn't do it now, I'd never do it. And the longer it sat, I'm sure the more it would deteriorate.
  • isellhondasisellhondas Issaquah WashingtonPosts: 17,593
    When I ws a wee tot, my parents had a 1951 Buick Roadmaster. I remember my dad saying that it bacame an option in 1952 and he looked into seeing if it could be installed on the '51. I guess the answer was no or it would have been too expensive.

    My mother was pretty petite yet she would back that Buick out of our one car garage down a long driveway. Very little clearance. A fence on one side and the house and a planter on the other. No side view mirrors yet she could do it in no time at all and never scraped it.

    I honestly don't know if I could do that now!
  • andre1969andre1969 Posts: 21,846
    My mother was pretty petite yet she would back that Buick out of our one car garage down a long driveway. Very little clearance. A fence on one side and the house and a planter on the other. No side view mirrors yet she could do it in no time at all and never scraped it.

    That got me thinking, about my grandmother on my Dad's side of the family. Pretty petitie, around 5'2". Their first car was a used 1949 Ford, and their second was a brand-new '57 Fairlane 500 4-door hardtop. Looking back, I don't ever remember Grandmom driving...whenever I visited them and we went anywhere, it was always Granddad doing the driving.

    In fact, the one instance I can think of her driving was met with disaster. Granddad had a foot operation and had a cast on, and Grandmom was driving him either two or from a doctor's visit, in their '89 Taurus, which was only a few months old. Well, they ended up getting broadsided by a non-English speaking woman in a '75 Catalina, that pushed them into a telephone pole.

    Did something like $6,000 worth of damage to the Taurus, which sure seemed like a lot at the time, but nowadays, I'm sure it would be more. For comparison, when my uncle hit a deer with his '03 Corolla, in late '03, the damage was around $4700-4800.

    I'd guess that Grandmom didn't know how to drive when they had the '49 Ford, but by '57 she did. So, the power steering was never an issue for her.

    I'll have to ask my Grandmom on Mom's side of the family when she first learned how to drive. I think Granddad taught her. He had a 1939 Chrysler when he met her in 1946, so I dunno if he taught her on that, or on something later. This Grandma, however, was, well, let's just say pretty "rugged" back in her day, so I'm sure she had no trouble back in those pre-power steering days.
  • euphoniumeuphonium Great Northwest, West of the Cascades.Posts: 3,321
    so why do I need it on the pickup?" She asked ;)
  • lemkolemko Posts: 15,116
    edited September 2010
    I wonder if this recession has has caused very many people to re-think their attitude on money and what they spend it on?

    Yeah, I saw fewer people at this year's car shows but a lot at last week's gun show! :surprise:
  • euphoniumeuphonium Great Northwest, West of the Cascades.Posts: 3,321
    edited September 2010
    what they spend it on?

    We had been members for over 10 years of Portland Opera, but when the price of renewing our seats went up 44% we bailed.

    As long as our cars don't get killed in a crash, we will continue to drive them.

    As long as we can hire help to care for the home, we will not go condo shopping.

    We have continued to contribute to the church at the same figure though
  • parmparm Posts: 723
    OK, that 1950 Series 62 Cadillac coupe just hammered sold at Barrett Jackson for $37,000. Add the buyer's premium and you're at $40,700. I thought the B-J factor would bump it more. Mr. Shiftright (who predicted $40K-$42K with premium), you're UNCANNY!
  • euphoniumeuphonium Great Northwest, West of the Cascades.Posts: 3,321
    And w/o Air and Power Steering?? :P
  • Mr_ShiftrightMr_Shiftright CaliforniaPosts: 44,403
    Well you can't really penalize a car on value if the equipment lacking never came that way at time of manufacture.

    For instance, you can penalize an MGTD that is right hand drive (In the USA I mean) a good 30%, because TDs were made either way, but not an MGTC, which was never made with left hand drive.

    So the Cadillac never had p/s or AC. AC first came out for Cadillac in 1953.

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  • euphoniumeuphonium Great Northwest, West of the Cascades.Posts: 3,321
    I understand, but would prefer spending that amount of cash on a 53 with Air & PS.
  • Mr_ShiftrightMr_Shiftright CaliforniaPosts: 44,403
    Oh yeah, me too, good year 1953, because it also introduced 12V electrics in Cadillac, Buick and Olds.

    A '53 Eldo would be the prize.

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  • berriberri Posts: 4,138
    I mean, the people who claim to be "experts" and do cameos on economics on various TV news shows have proven to be as equally wrong as we have been.

    Worst than that, often they are selling something and hoping to influence the market direction, which is their motivation to do the cameo in the first place.
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