I can see it going two ways. There are a lot of car guys in the younger generation. Most of my friends are car guys, we all want old muscle cars for the most part. We are just now getting to the point of being able to afford them. (well the crappy ones anyway) Now some will never get there, kids, families, other things will get in the way. Some of us will get there and we'll buy what we can. So I don't see the price of the cars just cratering so to speak. However the financials of it all do worry me a bit because let's be honest my generation and the one after me are going to be stuck cleaning up the baby boomer mess. I don't mean any offense by that and I don't want to get political but the boomers ran up an enormous tab and said "here kids go pay for it please." So we are going to have to have higher taxes, make less wages, have more debt in schooling, and some of us will have to support our parents who didn't bother saving for retirement. This means things are going to be tighter for my generation. That's fine, whatever we'll deal with it but "luxury" goods to my generation will be things like video games, phones, and the like that are hot now because most will be able to afford those. Cars though, that's tougher. Sure cars for transportation to work will be a no brainer but having that second or third car just for weekend fun is going to be something most in my generation will never know. They just simple won't have that luxury.
Still, there are some of us that will have the luxury and we are going to buy. Oddly enough and maybe it's because I'm kind of a working/middle class guy, but none of my friends really want the high end collector cars. I mean sure a Hemi Cuda would be awesome, but most of us want a car we can modify and work on. I can actually see the day when some of the more collector car prices sag a bit while the drivers and projects of the world hold stronger because that's what we want, and that's what we can afford. You'd never buy a numbers matching hemi Cuda and go blasting down the backroad, but you sure the heck would a 340 non numbers matching car you made your own. I can almost envision a big of a squeezing of the prices if you will. The bottom comes up and the top comes down.
I hope I'm wrong and I hope the bottom falls out, you just for my own selfish reasons.