Bottoms are a hard thing to pick unless you have long hands. Okay bad
Actually we have an economy in uncharted waters so the bottom is probably not in yet or maybe it is. Chances are we are going to bounce sideways, then a little up, a little down, and then sideways and repeat this dance again and again.
I’d enjoy understanding the socioeconomics better of classic car ownership. A company like Hagerty could probably pull together some interesting data. My late Father and Uncle fueled my passion for vintage cars. I’ve been an active participate since I could crawl to the garage.
I’m 56 years old and have watched values rise and fall in 10-15 years waves. The peaks build quickly and last just a few years and the valleys are longer in duration. Recent live media events, Barrett Jackson on SPEED and ESPN auctions gave this last ride some pretty tall peaks. How cars are bought and sold has changed a lot to with E-bay, Craig’s List, and others. Just 10 years ago you got a Hemming’s magazine, that’s it!
I’ve met a lot of people who financed the cars of their dreams and shouldn’t have. Cars are to be enjoyed and if you make some money hooray! My philosophy is never paying (always cash) more than what you could sell it for in distress.
The bottom (fall) of the $100,000.00 market is also a lot different than an entry level car. Both can offer the same level of passion and fun just at different prices. Buy what you can afford to enjoy even if it’s a plastic model.
