$750K HO, how far off is the 1mil mark?

[42 PHASE3]

Originally Posted by flappist

Well others seem to think the same as me.

Questions:

1) Does anyone here think that there will never be a another recession in Australia?

2) Does anyone think that muscle cars will be exempt from the financial chaos that happens during a recession?

I wonder of the Grange collectors, military aircraft collectors, art collectors and/or all the other train spotters would disagree and profess how their passion will survive while all others are cast asunder because everyone THEY know follows that passion.....

as ive said before there are only about 60 or 70 blokes that own all the real live genuine phase3 hoeys in the land, this alone is a key driver behind phase3 prices and not the odd speculator, investor. its all about supply and demand and im seeing plenty of demand at the moment and not a lot of supply.


rod

[4Vman]

Originally Posted by flappist

Ah so the ones that pay $750k are not smart? You have rebuked your own argument.

Yes GTHOs are collectable.
Yes GTHOs are a piece of history.

and

Yes GTHOs are going silly in price.

The REALLY smart guys are going to sell theirs just before the bubble bursts and then buy it back afterward for a huge profit and wait for the next cycle.

Kerry Packer once sold CH9 to Allan Bond and and then bought it back for $900,000,000 less. I suspect both these men had more money than every GTHO owner combined.

Ahh.. i never said they're worth $750K.. LOL
But there are allot more people willing to pay that than there are GOOD cars forsale.
I'll let you in on a secret.... the majority of H3 owners have a "network" so to speak, lets just say i doubt you'll ever see too many forsale at once....

[42 PHASE3]

Originally Posted by 4Vman

Ahh.. i never said they're worth $750K.. LOL
But there are allot more people willing to pay that than there are GOOD cars forsale.
I'll let you in on a secret.... the majority of H3 owners have a "network" so to speak, lets just say i doubt you'll ever see too many forsale at once....

thats the one 4vman, dont be rude its my turn to sell wait your turn, as long as the market is controlled by the sellers prices will remain strong, but i doubt many people understand the phase3 market is unique in that manner and try to compare it to other markets like jags, lol.

rod

[nugget378]

Thought there was a law against monopolies?
I wonder how many have paid,or will pay capital gains tax on a sale,I know one guy up here that should be....

[GTPete]

Ph 3's and muscle cars in general despite the money they demand are not even a blimp on the radar of the Australian economy. The Cap gains tax thing wont happen anytime soon.

[4Vman]

Originally Posted by nugget378

Thought there was a law against monopolies?
I wonder how many have paid,or will pay capital gains tax on a sale,I know one guy up here that should be....

Mate, there will never be a capital gains tax on cars.. you know why?? imagine the claims for running costs, expenses and loss's on cars that depreciate..!

[nugget378]

Originally Posted by GTPete

Ph 3's and muscle cars in general despite the money they demand are not even a blimp on the radar of the Australian economy. The Cap gains tax thing wont happen anytime soon.

True,but thats not the point,I pay my tax why shouldnt they,the ones that turn them over regularly,for profit...

[nugget378]

Originally Posted by 4Vman

There will never be a capital gains tax on cars.. you know why?? imagine the claims for running costs, expenses and loss's on cars that depreciate..!

Ohhh but there is,not on your everyday car,but collections,just like a painting collection,I have a friend that owns a few very rare australian cars,and he is looking carefully at this,and has gotten advice..

[flappist]

Originally Posted by 4Vman

Mate, there will never be a capital gains tax on cars.. you know why?? imagine the claims for running costs, expenses and loss's on cars that depreciate..!

I dont need to imagine, I, like most self employed people, have claimed them for over 30 years.

Never say never, if someone in the government thinks they can make money out of it and it will only upset a few people then it becomes a worry.

[51OAU]

holy **** my dad use to have a xw gt falcon ute, he sold it and 2 young dudes wrote it off the next day, 5 days later my uncle (worked in the car yard where he bought it)told him it wasn't a replica it was a legit gt. Dad saw it on the news a few yrs ago and they said its worth atleast $350 000 now. man was he ****ed.

[4Vman]

Originally Posted by nugget378

Ohhh but there is,not on your everyday car,but collections,just like a painting collection,I have a friend that owns a few very rare australian cars,and he is looking carefully at this,and has gotten advice..

So how do you differentiate? imagine the minefield they'd create.. restoration costs, rego, insurance, maintanace... take my BAXR8 as an example.. over 4 years its depreciated in market value from 55k to 23K, plus every year its cost approx $2500 to keep it on the road (without day to day running costs) .. after 4 years id theoretically be able to claim 42K off my assesable income.. no govt in their right mind would expose themselves to that kind of liability just to curb a few hundred musclecar enthusiasts and a couple of million profit.

[Pedro]

Originally Posted by nugget378

Thought there was a law against monopolies?

HaHa! Tell that to Woolworths & Coles.

[GTPete]

Originally Posted by nugget378

True,but thats not the point,I pay my tax why shouldnt they,the ones that turn them over regularly,for profit...

Nugget 378, Im hearing you and I have the same discussion on another level with my kids everyday.

The worlds not fair and it never will be so forget about finding balance.

[TURBOTAXI]

I dont think there is any such thing as a legit GT falcon ute.

[nugget378]

Originally Posted by 4Vman

So how do you differentiate? imagine the minefield they'd create.. restoration costs, rego, insurance, maintanace... take my BAXR8 as an example.. over 4 years its depreciated in market value from 55k to 23K, plus every year its cost approx $2500 to keep it on the road (without day to day running costs) .. after 4 years id theoretically be able to claim 42K off my assesable income.. no govt in their right mind would expose themselves to that kind of liability just to curb a few hundred musclecar enthusiasts and a couple of million profit.

I know exactly how it is Norm,I run 2 work trucks,but what I am told is this isnt classed as that,looked at as a collection,just like coins or stamps,if its not like this why has this buyer and seller of all things GT used almost everyname he can find in his extended family to not appear to turn over too many,they can look at it as an appreciating asset,just like real estate,or can get them under car dealer type laws,regardless of what happens,this is a risk,and not too far fetched.

[SpoolMan]

Guys if you bored with this thread and you want to start the same old politics angle do it else where..
some have been edited

[smally289]

I wonder how much it costs to insure a 36 year old car for $750,000?

[4Vman]

Originally Posted by nugget378

I know exactly how it is Norm,I run 2 work trucks,but what I am told is this isnt classed as that,looked at as a collection,just like coins or stamps,if its not like this why has this buyer and seller of all things GT used almost everyname he can find in his extended family to not appear to turn over too many,they can look at it as an appreciating asset,just like real estate,or can get them under car dealer type laws,regardless of what happens,this is a risk,and not too far fetched.

True, Legitimate business expenses are different. I guess they'd have to prove you bought and sold them as a business venture, there is a limit to the number of vehicles you can buy and sell in a year. In any event its a tough one.
IMO the superannuation funds are the dodgy investments.

[4Vman]

Originally Posted by smally351

I wonder how much it costs to insure a 36 year old car for $750,000?

Approx $650 a year with limited use (2-3000 k's per year).

[flappist]

Originally Posted by 8lueoval

holy **** my dad use to have a xw gt falcon ute, he sold it and 2 young dudes wrote it off the next day, 5 days later my uncle (worked in the car yard where he bought it)told him it wasn't a replica it was a legit gt. Dad saw it on the news a few yrs ago and they said its worth atleast $350 000 now. man was he ****ed.

Well in that there has never ever been a genuine GT ute, I suspect somebody has been telling you porkies.

[4Vman]

Originally Posted by flappist

Well in that there has never ever been a genuine GT ute, I suspect somebody has been telling you porkies.

Spot on!

[henry 351]

One thing I would point out in relation to the issue of these mega-dollar GT's is this: dollar value is not directly correlated to fun or pleasure of ownership.

A guy driving a $750,000 Phase 3 is not having 10 times the fun the guy with his XA GT coupe is.

From an enthusiasts perspective, it is interesting to see the values of these cars increase. But when bona fide enthusiasts are priced out of the market by speculators (with no appreciation for the heritage of the cars, just $$$ signs in their eyes) you wonder whether the right thing is being done to "preserve" our motorsport and musclecar history.

[klawsterfobik]

Depends how you look at it Henry 351, you could look at it as they're hiding them away and depriving a generation of seeing them on the road... or you could look at it as they're keeping them original for the next generation.

Hopefully the bubble will burst just as I've got enough money to buy one then i can get two!

[42 PHASE3]

Originally Posted by nugget378

True,but thats not the point,I pay my tax why shouldnt they,the ones that turn them over regularly,for profit...

i can think of many times when its the bloke that already own phase3s being the one paying the big bucks for another car, its becoming rarer to see new blood in the hoey clan and as time goes on the pool of owners is actually getting smaller! is that a surprise to anyone?, i wonder what that is going to do to future prices?
baby boomers will be buying these cars for another 20 years or more so anyone holding there breath waiting for the market to fall over, good luck.

rod

[42 PHASE3]

Originally Posted by nugget378

Ohhh but there is,not on your everyday car,but collections,just like a painting collection,I have a friend that owns a few very rare australian cars,and he is looking carefully at this,and has gotten advice..

we have a saying;
owning art is boring
owning and driving a phase3 hoey is roaring!


rod

[GRNKPR]

Originally Posted by Flouro_Joe

This dude must have known something hey.
http://www.europeancarweb.com/museum.../photo_05.html

might have to check it out when im in france in 2 weeks

[GRNKPR]

Originally Posted by flappist

Well in that there has never ever been a genuine GT ute, I suspect somebody has been telling you porkies.

ooooooooohhhh yyeeahhhhhhhhhhhhhh and $350,000.00 reeel em in

[KBBossedXR]

Slightly of topic, what is the deal with Vitreous Enamel number Plates in Victoria.
these plates were sold at the Shannons Melbourne Motorshow Auction.

429 $70,000
GT $53,000
SS $36,000
765 $75,000
These two are going to be Auctioned tonight
246 $70,000-$90,000
47 $260,000-$320,000
They are all Victorian plates and there must be some real history behind them.

[KBBossedXR]

Originally Posted by xy351

thats amazing.... but how much further could it go...

There is a Phase 3 in my area that has not seen the road for over 20 years,
Wild Violet
Gold Stripes
White Interior
Sun Roof
Rear Spoiler/ Front Deflector
The guys from Australian Muscle Cars came over and bought my mates(worked with phase 3 owner) XY GT and they new about this Phase 3. They asked my mate to contact him if he would sell it he told him there is no way he would sell it as it is the only one with that colour option, the guys confirmed this and thats why they wanted to buy it. They offered $200,000 and the answer was NO, this was over 3 years ago now. I personaly beleive this car could bring more money than we have seen yet

[|||]

i'd love to see the audit reports for all these super funds with GTHOs in them. HOs have always been bought by collectors. they were out of the range of the average enthusiast when they were $75,000 let alone $750,000.