Market timing is bad

[jammer]

Hagerty shows #2 condition cars with 4 options at $320k and trending slightly down. #1 condition cars with 4 options are $350k and trending down also. #3 cars which I include those with previous accident repairs are holding steady at $275. I think a lot of people are hung up on mileage which can be to your advantage if, like me, you are not. I think ownership and condition are better indicators than mileage but not as simple to determine as reading a number. I would not hesitate to buy a 20k+ miles car from an original owner or second long term owner who can show excellent standard of care under their ownership. I'd let the big money chase garage queens and focus my search on higher mileage, well taken care of cars. Is there a 20k-30k miles one owner FGT out there that can be had in the $280k-$300k range? I think there should be. If not now then maybe in the next few months as the COVID induced price disequilibrium gradually works itself out but before the long anticipated inflation finally arrives.

 

[F Pilot]

Im in the Production Cars aren’t investments camp. PERIOD.

If you buy what you want at a good price, drive it or put it on display and don’t look back. Whatever your prerogative, this is a “disposable income” purchase.

 

[B.M.F.]

Did you see the pictures? It was more than just that....

Yes and it doesn’t matter. The time is here that that stuff is no longer gonna matter in the sale prices to the extent that some think it should. The yellow car proved that on bat. The amount of calls and people that reach out to me looking for driver gt’s that are either prior salvage or clean title stories cars have gone through the roof with in the last year. Just now it’s gonna take 250k-300+ for those cars as all the no stories low miles cars surpass 400k mark shortly here.

For the last 8-10 year prior salvage cars were holding 200k fixed. Some deals out there here and there that were 150-160k fixed but those prices have sailed.

Great times we live in right now as far as cars go and the GT is just a great car to own and drive.

 

[Cadster]

This was posted on Ferrarichat. It’s not a GT, but it’s an interesting data point nonetheless. It was listed for sale almost 4 years ago for $164,500 with 12,900 miles. Just sold a RM Sotheby’s Monterey for $440,000 with 14,060 miles. As we sit at the crossroads between ICE and electrification, and these end of era analog icons are just going to keep going up and up. Get‘em while you can. Buy them early, and buy them often.

2003 Lamborghini Murciélago | Monterey 2021 | RM Sotheby's

2003 Lamborghini Murciélago for sale at RM Sotheby's Monterey

rmsothebys.com

 

[PeteK]

From what I can see on BaT and the auction houses, prices of all collector cars are rapidly rising. And I use the term “collector car” broadly, since many of those are just olde production cars, not really limited examples. I don’t reallly care, because I’m keeping my 05 GT and ‘73 911, unless I somehow end up in a wheelchair ( and then my son and daughter have first dibs).

But, for those looking to buy, I’m starting to think the collector car market is getting pretty frothy. Like all real-world markets (not theoretical economists’ models), prices tend to rise, accelerate, then overshoot, then settle somewhat lower than the peak (20% or so).

Where are we in that cycle? Beats the shit out of me, but my gut says this pricing has a ways to run, then will settle and stabilize at or slightly above current prices. This is about what happened in 2013-2014, although that step up didn’t have much settle-back.

if you’re a buyer because you want to own and drive it, now is as good as it’s going to get. If you’re waiting for prices to drop back, you’re gonna miss the train. If you think you can buy now and resell in 6 months to a year and make a handsome profit, you’re trying to catch a falling knife and you’ll probably get cut!

Place your bets…

 

[Brombear]

market Timing is always bad, too expensive when buying and too cheap when selling

get used to it and try Not to think about. Instead drive the car.

 

[PeteK]

Well, a 2004 NSX just sold on BaT for $175K. The car market is nuts. The question is: will it keep going up, or correct soon? I’m betting correction is due.

One-Owner 16k-Mile 2004 Acura NSX-T 6-Speed

Bid for the chance to own a One-Owner 16k-Mile 2004 Acura NSX-T 6-Speed at auction with Bring a Trailer, the home of the best vintage and classic cars online. Lot #53,353.

bringatrailer.com

 

[RPM217]

Well, a 2004 NSX just sold on BaT for $175K. The car market is nuts. The question is: will it keep going up, or correct soon? I’m betting correction is due.

One-Owner 16k-Mile 2004 Acura NSX-T 6-Speed

Bid for the chance to own a One-Owner 16k-Mile 2004 Acura NSX-T 6-Speed at auction with Bring a Trailer, the home of the best vintage and classic cars online. Lot #53,353.

bringatrailer.com

I love it, my NSX and GT, both purchased to drive and enjoy are appreciating, and appreciated. They're not for sale, but nice to know my heirs will benefit!!!

 

[jammer]

At least the NSX is worth it. A '95 Supra turbo sold for $206k couple of weeks ago

If Supras are bringing $200k why isn't a FGT in similar condition worth $400k?

 

[tpraceman]

Every Day that goes by you will have lived without it. Money comes and goes. Can't buy time back.

 

[QuickSilverShelby]

Every Day that goes by you will have lived without it. Money comes and goes. Can't buy time back.

F'n eh brother.

QSS

 

[Kiteboarder Ken]

I waited and pondered until early last year. I still feel like a kid on Christmas morning every time I go into my garage. I personally wouldn't finance the purchase but if you have the funds to buy one, then quit procrastinating and pull the trigger. You aren't going to be out X amount of dollars as you can always sell that baby. So even if the prices do back off (my theory was when the NFGT came out the 05-06 would plummet-obviously not the case!) you would at most, be out 20G or less accounting for taxes, insurance etc. Having the pleasure of owning a FGT is worth a lot more than that. By far.

 

[Tomcat]

I love it, my NSX and GT, both purchased to drive and enjoy are appreciating, and appreciated. They're not for sale, but nice to know my heirs will benefit!!!

Ditto my NSX and GT

 

[BM SoCal]

Looks like Monterey results were very solid

These 7 Bull Market alumni tested our predictive powers at Monterey 2021 - Hagerty Media

Several former Bull Market selections sold at Monterey Car Week 2021. Which ones slumped, and which surged?

www.hagerty.com