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Originally Posted by bird72
Been casually watching auction results in Muscle Machines and Muscle Car Review, and while not mathematically tracking, I keep seeing Selling Below Average price sales, or no sales at all. The big boy special cars bring big bucks, but still most are down also. So the question is: Is this a valley or a new large curve? Watching 2018 auctions should tell some kind of story.
I personally think these are very bad and shaky from a new investment perspective for a return on, and one should own from a love perspective more than a financial one.
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Speaking in terms of investment, you have to of been lucky enough to get in the game very early, then hang onto them for the last 30 years if you want to see any real return on your money.
Nowadays, deals are slim, cars that need restored have big asking prices, and restoring them is a very expensive venture as well. Those big dollar cars you see at auction, it's very unlikely the owner is making much of anything on the sale. When you consider it takes 2,000 to 3,000 hours to completely restore a car like that to a concour level, plus the money for very expensive parts, in most cases they have more in the restoration of those 6 figure cars than what they are grabbing at auction. So in that sense, yes the person needs to have a love for the hobby because they certainly aren't making money. Even though it may appear to the average Joe that a car selling for that much, someone must be getting fat pockets. Honestly the auction houses are the only ones making any real money from these transactions.