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The Pub For General Automotive Related Talk |
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24-11-2009, 07:59 PM | #1 | ||
FF.Com.Au Hardcore
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OK, so I am going to get smashed here by some... but I honestly don't believe that any Aussie Muscle Car is worth a million bucks. We saw what has happened to the market since the GFC - XY GT Phase IIIs aren't even clearing for 400k.
So, anyway, it looks like prices are on the rise. I say, be careful... just like houses, if you pay too much, you'll get burned. And it looks like prices are about to strt jumping again. Here's my report from the weekend. AUCTION REPORT |
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24-11-2009, 08:10 PM | #2 | |||
Chasing a FORD project!
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"aren't even clearing 400k"... I think 400k for an aussie muscle car is incredible..
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24-11-2009, 08:11 PM | #3 | ||
FF.Com.Au Hardcore
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Why does it matter what you pay for them? Some people are prepared to pay what it takes for the love and enjoyment of these rare classics.
People who buy cars purely as investments are fools...
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335 S/C GT: The new KING of Australian made performance cars.. |
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24-11-2009, 08:13 PM | #4 | ||
FF.Com.Au Hardcore
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If my XE hits $150k its gone and i am retiring
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24-11-2009, 08:27 PM | #5 | |||
FF.Com.Au Hardcore
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The point being that paying that kind of money is ridiculous. Absolutely crazy! I'm also massively jelous because it's priced people like me out of the market completely... replica XY GTs, built to GT spec (from bases) have been reportedly valued at 100k. I mean, come on! Ten years ago you could pick up a replica GT for $6k, and a genuine phase 3 would set you back 50k. Maybe I'm just getting old and grumpy... or maybe I'm looking at it like housing prices; there's a bubble there that could pop. |
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24-11-2009, 08:33 PM | #6 | |||
Performance Inc.
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If you buy the right car you can enjoy it for what it is and possibly make a few dollars when you sell it but to buy a car with the intention of it becoming worth heaps of cash in a few years is very risky. The first think to consider is do you really want to own one and then how much are you prepared to pay for that privilege. Even a collectors car rarely used will require $$$$ to simply maintain it as is.
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24-11-2009, 08:40 PM | #7 | ||
mustang pilot
Join Date: Jan 2005
Location: SA
Posts: 372
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Supply and demand?
Every year there are fewer original Muscle cars left and the mystique about these cars grows- as does demand . If you look at the UK market for RS/BDA Escorts and RS Capris and the US market for classic Mustangs and Cougars the same thing applies...on the up,as economies recover Watching the Classic Adelaide with a bunch of car nuts young and old-The comment was made-"Old cars felt and sounded fast when you stuck the boot in"-and THATS the appeal-the "theatre" of the musclecar....and of course the tough body shapes,shakers,scoops,stripes and sounds. It costs what it costs................... |
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24-11-2009, 08:45 PM | #8 | ||||
335 - STILL THE BOSS ...
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Location: Melb East
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Those that buy these things will NEVER get burned IF they buy because of a passion and have the money to back their enthusiesm. If they buy to make money ..... refer below but those days are gone and was a period that lasted a very short time. Quote:
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24-11-2009, 08:53 PM | #9 | ||
FF.Com.Au Hardcore
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if you look at the prices for say a all original unmolested GT500 then you look at a phase 3 you can understand the value a little more. they made thousands of GT500's and a max of 300 Phase 3's. then have a look at the equivelent cars in the states, your cobra's and GT40's and BB corvettes and see what they're worth, without even looking to europe. sure you may not look at them as in the same league but they are the best we have and at a mill they are still a bargain jus remember if you put a ferrari and a phase 3 round say Bathurst at the end there would be nothing in it
I actually remember a test in a wheels mag from the late 70's where they put a HO agains the current Ferrari with 7 years between them and the ferrari was only 3 tenths a lap in front |
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24-11-2009, 09:14 PM | #10 | |||
FF.Com.Au Hardcore
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In any case I could think of better things to do with my hard earned.While I'm not too badly off, I don't have a spare Mill laying around to splurge on a 40 year old car that would,in all probability, sit in the garage gathering dust and require security not unlike Fort Knox to ward off potential thieves. I never took a liking to the XT/XW/XY's when they were released and 40 years on don't think I ever will, but respect the opinions of those that do like them - after all they are an iconic piece of Australian and New Zealand motoring history which can't be denied. Bathurst Monaro's are another story ---pure class IMO but then the prices they are going for are still crazy. Unfortunately for those that aspire to own one of these classics, I feel the recent downward slide is/was only temporary. They will recover well and be fetching top dollar again soon I believe. Out of interest does anyone know what type of individuals are buying these cars at such high prices?....Is it high net worth lawyers/doctors looking for a good investment ? or is it real car enthusiasts spending their childrens inheritence?
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24-11-2009, 09:20 PM | #11 | ||
FF.Com.Au Hardcore
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My friends who have musclecar collections are 35-45 yo successful small business owners with a passion for musclecars and excess disposable income.. They own their collections outright.
I have 4 friends with P3's who fit this description. the GFC didnt effect them at all, none of them are interested in selling so relative market values mean nothing to them.
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335 S/C GT: The new KING of Australian made performance cars.. |
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24-11-2009, 09:24 PM | #12 | |||
FF.Com.Au Hardcore
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Quote:
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2005 BA MK2 FPV GT - 6 SPEED MANUAL , SILHOUETTE, SWISSVAX, SUNROOF, BILSTEIN AND LOVELLS, FACTORY GENUINE 19'S, X-FORCE STAINLESS QUAD CATBACK, ADVANCE HEADERS, 200 CPSI CATS, BLUEPOWER CAI, HERROD BREATHER KIT, 4:11 DIFF RATIO, MAL WOOD OPT 3+ CLUTCH, BILLET SHIFTER, MELLINGS 10227, NOW WITH REVERSE CAMERA/SENSORS, ALPINE SPEAKERS & SUB - CUSTOM TUNED TO 275 RWKW NOW WITH A NEW ADDITION - 2017 MUSTANG V8 GT FASTBACK - , 6 SPEED AUTO IN PLATINUM WHITE, |
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24-11-2009, 09:25 PM | #13 | ||
FF.Com.Au Hardcore
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Spending $400k on an XY GT is probably better economical sense than say spending the same on a Aston Martin DB9
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24-11-2009, 09:26 PM | #14 | |||
FF.Com.Au Hardcore
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335 S/C GT: The new KING of Australian made performance cars.. |
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24-11-2009, 09:28 PM | #15 | |||
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FORD RULES OK The more I know ppl the more I love my DOGS. 2011 SY Territory Limited Edition TS 2000 AUII SE ute IL6 |
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24-11-2009, 09:29 PM | #16 | |||
FF.Com.Au Hardcore
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Sure but I, like a lot of others, cringed when I looked at my FY2009 super fund statement...Not something I shrugged off as a minor life event.
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2005 BA MK2 FPV GT - 6 SPEED MANUAL , SILHOUETTE, SWISSVAX, SUNROOF, BILSTEIN AND LOVELLS, FACTORY GENUINE 19'S, X-FORCE STAINLESS QUAD CATBACK, ADVANCE HEADERS, 200 CPSI CATS, BLUEPOWER CAI, HERROD BREATHER KIT, 4:11 DIFF RATIO, MAL WOOD OPT 3+ CLUTCH, BILLET SHIFTER, MELLINGS 10227, NOW WITH REVERSE CAMERA/SENSORS, ALPINE SPEAKERS & SUB - CUSTOM TUNED TO 275 RWKW NOW WITH A NEW ADDITION - 2017 MUSTANG V8 GT FASTBACK - , 6 SPEED AUTO IN PLATINUM WHITE, |
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24-11-2009, 09:32 PM | #17 | ||
FF.Com.Au Hardcore
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The over inflated market spurned on the dodgy little cottage industry of fake's, re-shell's etc alot of really rough one's soon became really nice one's real quick. Big dollar's were to be made and now big dollar's are at risk if purchasing as there are plenty of these not quite right muscle car's out there.. IMO it's BS that alot of every day people have been priced out of the market.. And for the record i'm not a rich dude, i picked up my XA's for peanut's back when you couldn't give the old bomb's away..
Last edited by pottery beige; 24-11-2009 at 09:39 PM. |
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24-11-2009, 09:35 PM | #18 | |||
FF.Com.Au Hardcore
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Quote:
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335 S/C GT: The new KING of Australian made performance cars.. |
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24-11-2009, 11:04 PM | #19 | |||
FF.Com.Au Hardcore
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24-11-2009, 11:15 PM | #20 | ||
BLUE OVAL INC.
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You cant really gauge anything on auction results, it only takes a couple of fools who cant stand to see the other win and up she goes.
17k whilst seemingly high is nothing compared to what some cars go for. Without knowing the buyers situation, it is quite plausible to conclude that they couldn't afford much more and so paid whatever it took within their budget to get their bum in the seat. As said, there aint that many to chose from. There will always be people prepared to buy up cheaper classics, entry level, but the days of million dollar pricetags are long gone. |
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24-11-2009, 11:24 PM | #21 | |||
Constant annoyance
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GT Club - no longer for ford enthusiasts, now for fat old men who need air con and power steering for the maccas drive through. |
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24-11-2009, 11:30 PM | #22 | ||
Awesome
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I dont get this whole Muscle car price thing...
We have a so called "Muscle car" and I own it because I love it. It is now part of the family. I wouldnt sell it tomorrow no matter what was offered....yeah ok...over 50k I would. ..but paying over 200k for a muscle car? Are people still doing that? I guess it really is a supply and demand thing and how badly you want to relive your teenage years or memories of what these cars meant to you.
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Last edited by Geez Louise; 24-11-2009 at 11:42 PM. |
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24-11-2009, 11:39 PM | #23 | |||
XP Coupe
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24-11-2009, 11:50 PM | #24 | |||
Regular Member
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25-11-2009, 12:42 AM | #25 | |||
Regular Member
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That wouldn't be a red one from Melbourne, would it? |
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25-11-2009, 07:46 AM | #26 | |||
FF.Com.Au Hardcore
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FORD RULES OK The more I know ppl the more I love my DOGS. 2011 SY Territory Limited Edition TS 2000 AUII SE ute IL6 |
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25-11-2009, 07:50 AM | #27 | ||
FF.Com.Au Hardcore
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I have a close relative who at the time paid one of the highest prices on record for a Phase 3. I can say without a doubt that he dosn't really care what it cost - he just wanted it, and I highly doubt he would care if its worth $1000 tomorrow. He just added to his collection of old Fords. I must say though it does get regularly driven and enjoyed and does not just collect dust.
Most of these sorts of people are highly successful businessmen - $1mil means to little to them - he told me once "what else am I going to do with my money, can't take it with you?"
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25-11-2009, 09:36 AM | #28 | ||
Powered by Marshall
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On a good note however American muscle is dirt cheap and the combination of the GFC and the exchange rate at the moment I think is taking some demand away from Aussie muscle as people choose HEMI or BOSS over GM and Ford Au.
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25-11-2009, 09:48 AM | #29 | |||
The 'Stihl' Man
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As for over priced falcons, if we all had the disposable income to that extent im sure we would do the same. But I still shake my head, its just a falcon with stripes! No one other than the Oz market even relatively cares about them. I do however agree that this situation has made restoration etc for others alot harder. People ask stupid money for parts or anything with the GT name associated with it. That is one of the reasons while for now Im going the XE (or XD route). But even then ESP's are on the way up, $30-50k for good ones FFS. edit: not a ford but still cheap as, http://cgi.ebay.com/ebaymotors/1979-...item4cec2c0125 Brand is now dead, one if its more famous cars for $10kUS + freight.
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Last edited by Polyal; 25-11-2009 at 10:00 AM. |
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25-11-2009, 09:49 AM | #30 | ||
FF.Com.Au Hardcore
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its all HORSES FOR COURSES (PUN NOT INTENDED),people are critisised for spending THEIR good hard CASH on MUSCLE CARS of their choice but thats their choice wat they do with their money ,(people spend 50k-75K plus on new cars that depreciate 50%with in 2-3 years )people dont wince about THAT, do they, MONEY SIDE, MUSCLE CARS ARE SEEN AS INVESTMENTS TO SOME ,like WATERFRONT HOUSES as for 1 mill for PHASE 3 ,(IT WOULD BE IMMACULATE),IF YOUVE GOT IT WHY NOT ,CANT TAKE IT WITH YOU (mentioned above)30 million for water front house now thats STUPID
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