You are correct, I am assuming it is an AAR. However, two purple AARs have appeared in the last 9 months with asking prices in the 50's, and there is a nice white AAR on Moparts right now for 40K. There's no doubt that prices are crashing.
Possibly - but it all depends on the condition level. One may sell for $40k, and another may sell for $90k, but maybe one was a nice clean driver, whilst the other was a pristine no expense spared nuts & bolts concourse resto?
I think that whilst prices have dropped, the numbers cars in near flawless condition with low miles are still bringing in big dollars.
Fortunately, the worlds financial state has punched the silly people in the face and bought things back to reality. Numbers cars that still need work are still valuable, but nowhere near as much as the better examples - and thankfully, (almost) gone are the days of people paying top dollar for clones/tributes - This will also have a huge impact on the repro parts business. People can no longer get stupid money for clones/tributes - and rightfully so - so, they'll stop paying stupid money for the parts, as it's just not worth it.
Whilst it may look like prices are plummeting, I believe their inflated values are merely coming to join everyone else back in the real world, and things will be as they should.