Muscle Car prices slowly going down

[mr smith]

Prices seem to be slowly comming down.

Biggest hit seems to be replicars,GT's and GTS coupes.

I think the aussie dollar and the financial situation in the US has led to some absolute bargan US muscle landing here. Go shopping with $40K and there is lots of real nice US cars available.

[zdcol71]

Hope it follows that resto parts may become a little more affordable, but I guess if the cars are cheaper, then more people will be working on them, hence prices dictated by supply and demand .

[Dan289]

Here's hoping they come back down to share the world car prices, we seem to be a wee bit over priced still. Heard a report of another road HO sold to QLD for on seven figures the other week...Totally crazy IMO.

A bigger correction in our local Muscle market would be good so we can then buy some more Aussie cars for the collection!

But for the current money, shopping overseas just is full of bargains comparatively to collectable ones here.

[JAZSXY]

Tell that to this guy

http://cgi.ebay.com.au/ws/eBayISAPI....=STRK:MEWAX:IT

[trippytaka]

Just like the property market, Aussie muscle cars have been way over priced for a long time. Yes, people are welcome to pay what they want for what ever they want... but like all economic cycles, there is boom and there is bust. We're a bee's d*** from bust.

Muscle cars are a luxury. And because of that, they are one of the first things to get hit by lagging demand, affecting prices.

Put it this way, no matter what the media and the government tells you, the fact is that it's getting tougher for people to afford the necessities, let alone splurge on luxuies. Then you have to add to that the baby boomers who are nervous about what's about to happen to their nest eggs - homes and investment properties with the imminent property crash.

Australia narrowly avoided recession (on paper) but we have growing full-time unemployment (the rising employment figures are temporary and part time positions) and we are, as a nation, way over extended on credit.

A couple of hiccups and we're screwed - no amount of fiscal padding from the givernment will save us from the real recession... it's hte medicine our economy should have taken.

America's economy is pretty much bankrupt. As much as the media will repeat the government lines that our economy is healthy, the fact is that Australia is on a knife's edge. Firstly, don't listen to the reports that house prices will continue to rise... we're the only country on earth that hasn't had its major correction - yet! It's coming.

So muscle car prices? Sure, they're dropping and will continue to do so for a while yet. I'd be more worried about the price of property than a Monaro or Falcon.

[trippytaka]

Sorry double post, please delete

[greens_tuf]

Originally Posted by trippytaka

Just like the property market, Aussie muscle cars have been way over priced for a long time. Yes, people are welcome to pay what they want for what ever they want... but like all economic cycles, there is boom and there is bust. We're a bee's d*** from bust.

Muscle cars are a luxury. And because of that, they are one of the first things to get hit by lagging demand, affecting prices.

Put it this way, no matter what the media and the government tells you, the fact is that it's getting tougher for people to afford the necessities, let alone splurge on luxuies. Then you have to add to that the baby boomers who are nervous about what's about to happen to their nest eggs - homes and investment properties with the imminent property crash.

Australia narrowly avoided recession (on paper) but we have growing full-time unemployment (the rising employment figures are temporary and part time positions) and we are, as a nation, way over extended on credit.

A couple of hiccups and we're screwed - no amount of fiscal padding from the givernment will save us from the real recession... it's hte medicine our economy should have taken.

America's economy is pretty much bankrupt. As much as the media will repeat the government lines that our economy is healthy, the fact is that Australia is on a knife's edge. Firstly, don't listen to the reports that house prices will continue to rise... we're the only country on earth that hasn't had its major correction - yet! It's coming.

So muscle car prices? Sure, they're dropping and will continue to do so for a while yet. I'd be more worried about the price of property than a Monaro or Falcon.

This is what I keep telling everyone too... Most other major economies crashed, but here we didn't even stumble. Delayed effect? maybe. The only thing I can think is that stimulus packages kept us rolling.

Anyway... Muscle car prices are going down by the looks of things, I have noticed that XY GT's have dropped a bit, and it looks like there are some good buy's out there.

At the end of the day, it is only worth what someone is willing to pay for it...

[RedHotGT]

Originally Posted by greens_tuf

This is what I keep telling everyone too... Most other major economies crashed, but here we didn't even stumble. Delayed effect? maybe. The only thing I can think is that stimulus packages kept us rolling.

Anyway... Muscle car prices are going down by the looks of things, I have noticed that XY GT's have dropped a bit, and it looks like there are some good buy's out there.

At the end of the day, it is only worth what someone is willing to pay for it...

Last line - SPOT ON...

The XY GTs are an interesting thing to look at over the last couple of years (particularly the last couple of months...)

There is one listed on Australian Muscle Cars at the moment for $68k (genuine car, barn find)...
and you can get GOOD cars for under $100k now (given that they were mid $250k about 18months ago)...

The funny thing is, that replica's seem to be the biggest variant with the XY's... I've seen 3 cars in the past 3 weeks that SOLD for less than $30,000 (one that had actual GT running gear in it)... all three were good cars, not great... but certainly a solid base to start with...

Yet, there are reps advertised at the moment in the $60k-$70k area... that are great examples... but you could get a GENUINE car for another $20k...

I know what i'd prefer...

[galaxy xr8]

Originally Posted by greens_tuf

The only thing I can think is that stimulus packages kept us rolling

The key word my friend... when talking about the GFC,
I am not getting into a debate about muscle car prices falling but I know a little about the finacial side of economic's and what we have to look forward to in our future..

[gcg2503]

Originally Posted by loftie

Yet, there are reps advertised at the moment in the $60k-$70k area... that are great examples... but you could get a GENUINE car for another $20k...

I know what i'd prefer...

Bear in mind Loftie - the replicas commanding $60 - $70k are full blown nut and bolt restorations

Sure you may get a genuine GT for another $20k but you will need to spend $30-$50k to get it to the replica standards ...ie paint, trim, engine detailing, under-body detailing....etc etc

[mr smith]

Originally Posted by gcg2503

Bear in mind Loftie - the replicas commanding $60 - $70k are full blown nut and bolt restorations

Sure you may get a genuine GT for another $20k but you will need to spend $30-$50k to get it to the replica standards ...ie paint, trim, engine detailing, under-body detailing....etc etc

Since when did it become the norm to be able to add the resto price to a cars value?
20 years ago if you ploughed a ton of money into a non descript car say a HQ Kingswood it would not increase the value of the car by a great amount.

18 months ago when a mate told me of mock ups fetching $60 - $70, couldn't believe it.

[gcg2503]

not always - but for good quality XY GT replicas they command it

this doesnt hold true for other marques though

[4Vman]

Originally Posted by mr smith

Since when did it become the norm to be able to add the resto price to a cars value?
20 years ago if you ploughed a ton of money into a non descript car say a HQ Kingswood it would not increase the value of the car by a great amount.

18 months ago when a mate told me of mock ups fetching $60 - $70, couldn't believe it.

When you're talking top shelf classic musclecars the condition v resto cost is allways a factor in its value.
Good cars will allways fetch good money, tired, less desired or cars with "issues" wont...
The difference between a tired low spec XYGT and a no expense spared concourse rare color XYGT could be over 100k even today.....
But you need to have a bit of a clue about these cars to know that, and no chip on your shoulder about their values......

[CobraJet351]

Im real happy about this. I just purchased my dream muscle car, 1972 Mach 1 351cj with a factory 4 speed. I would of just settled for any 72 fastback then mock it up, next thing you know I own a very well optioned matching numbers Mach 1, all purchased for a price I never would of imagined. :

[x series]

Originally Posted by JAZSXY

Tell that to this guy

http://cgi.ebay.com.au/ws/eBayISAPI....=STRK:MEWAX:IT

i think some one got rip off the cap is the real deal with the numbers but the inside locking bit looks to be a repo part. :

[trippytaka]

Originally Posted by mr smith

Since when did it become the norm to be able to add the resto price to a cars value?
20 years ago if you ploughed a ton of money into a non descript car say a HQ Kingswood it would not increase the value of the car by a great amount.

18 months ago when a mate told me of mock ups fetching $60 - $70, couldn't believe it.

Very true... I remember 10 years ago I wouldn't even look at a four door GTS monaro because of all the people building Kingswoods to be replica MOnaros. Is the Falcon GT the only muscle car that people are open about building as replicas?

I dunno, something just doesn't sit right with me. It's kind of like taking a woman home, only to find that she's filled her age-torn face with spak filler and used all manner of scaffolding to keep gravity from taking hold everywhere else. Once you strip her down, it's just a forty year old, run-of-the-mill clapper, not the race-bred GT you were expecting. :(

[xy500]

Originally Posted by trippytaka

Just like the property market, Aussie muscle cars have been way over priced for a long time. Yes, people are welcome to pay what they want for what ever they want... but like all economic cycles, there is boom and there is bust. We're a bee's d*** from bust.

Muscle cars are a luxury. And because of that, they are one of the first things to get hit by lagging demand, affecting prices.

Put it this way, no matter what the media and the government tells you, the fact is that it's getting tougher for people to afford the necessities, let alone splurge on luxuies. Then you have to add to that the baby boomers who are nervous about what's about to happen to their nest eggs - homes and investment properties with the imminent property crash.

Australia narrowly avoided recession (on paper) but we have growing full-time unemployment (the rising employment figures are temporary and part time positions) and we are, as a nation, way over extended on credit.

A couple of hiccups and we're screwed - no amount of fiscal padding from the givernment will save us from the real recession... it's hte medicine our economy should have taken.

America's economy is pretty much bankrupt. As much as the media will repeat the government lines that our economy is healthy, the fact is that Australia is on a knife's edge. Firstly, don't listen to the reports that house prices will continue to rise... we're the only country on earth that hasn't had its major correction - yet! It's coming.

So muscle car prices? Sure, they're dropping and will continue to do so for a while yet. I'd be more worried about the price of property than a Monaro or Falcon.

Your dreaming buddy, things are exactly as they normally are in the recovery cycle. You guys just want cheaper muscle cars for yourselves! Well the harsh truth is nothing good is cheap.

[trippytaka]

Originally Posted by xy500

Your dreaming buddy, things are exactly as they normally are in the recovery cycle. You guys just want cheaper muscle cars for yourselves! Well the harsh truth is nothing good is cheap.

Dreaming about falling muscle car prices, or the every increasing reality of a property plunge, which will affect everyone who has used the equity in their over-inflated house value to purchase luxury items like boats, and muscle cars? Or worse... a handful of investment properties in order to negatively gear?

I know that a good muscle car is worth good money... sure it's only worth what people are willing to pay for it, but this is dictated by what people are ABLE to pay for it, and by how much competition there is in the market for the limited commodity.

Sure, I know that collectors cars like the Phase 3 will never drop to $50k again, but the cars on the periphery will take a big hit. If an increasing number of people hit financial strife and have to sell off a bunch of their assets, it goes to reason that prices will fall.

[Franco Cozzo]

Prices of those cars won't last forever, when my generation hits the middle ages and they want the cars of their generation, you'll see things like GTR Skylines rocket in price I reckon.

To me, I couldn't really justify spending $70K on a car from the 60s/70s, the only reason you'd spend that money is the nostalgia of that period if you where around back then.

[Hardtopxb]

Give it another 2 or 3 years and Muscle car prices will be right back up there.

[galaxy xr8]

Originally Posted by trippytaka

Dreaming about falling muscle car prices, or the every increasing reality of a property plunge, which will affect everyone who has used the equity in their over-inflated house value to purchase luxury items like boats, and muscle cars? Or worse... a handful of investment properties in order to negatively gear?

I know that a good muscle car is worth good money... sure it's only worth what people are willing to pay for it, but this is dictated by what people are ABLE to pay for it, and by how much competition there is in the market for the limited commodity.

Sure, I know that collectors cars like the Phase 3 will never drop to $50k again, but the cars on the periphery will take a big hit. If an increasing number of people hit financial strife and have to sell off a bunch of their assets, it goes to reason that prices will fall.

Not a truer word spoken.

[BENT_8]

There was a thread on here a few months ago about muscle car prices on the rise as evident by a HK Kingswood reaching $17k.
What was failed to be mentioned in that thread was the immaculately restored white PH3 that was listed to go around $260-300k, well below the peak and somewhere i believed 3 years ago they would settle to.

It was withdrawn prior to sale.

[HO 3]

Originally Posted by trippytaka

Dreaming about falling muscle car prices, or the every increasing reality of a property plunge, which will affect everyone who has used the equity in their over-inflated house value to purchase luxury items like boats, and muscle cars? Or worse... a handful of investment properties in order to negatively gear?

I know that a good muscle car is worth good money... sure it's only worth what people are willing to pay for it, but this is dictated by what people are ABLE to pay for it, and by how much competition there is in the market for the limited commodity.

Sure, I know that collectors cars like the Phase 3 will never drop to $50k again, but the cars on the periphery will take a big hit. If an increasing number of people hit financial strife and have to sell off a bunch of their assets, it goes to reason that prices will fall.

Well said......anyone dumb enough to use home equity to purchase a toy such as a muscle car or boat deserves what they get at the end of the day if and when values fall over.


Cheers Mick

[gcg2503]

Originally Posted by HO 3

Well said......anyone dumb enough to use home equity to purchase a toy such as a muscle car or boat deserves what they get at the end of the day if and when values fall over.


Cheers Mick

What would you recommend they do - seek alternate finance or buy outright?

[HO 3]

Originally Posted by gcg2503

What would you recommend they do - seek alternate finance or buy outright?

I would recommend that they do it the old fashion way....be patient, work hard, save their dough so they can genuinely afford these luxurys!


Cheers Mick

[trippytaka]

Originally Posted by gcg2503

What would you recommend they do - seek alternate finance or buy outright?

Buy outright. The Australian public has somehow been fooled into believing that property prices (and seemingly Australian muscle car prices) do nothing but go up. Property is like shares; The true value of what you hold is only realised when you sell it. We are at an over-extended peak in the natural cycle of boom and bust.

If you want the house to pay for the XY GT, be careful. You shouldn't expect for your house to be a continuing appreciation over a short term period. Factor in 12% (about average) interest rates and a drop in the property values of 30% over the next 5-10 years.

And I certainly wouldn't be going into buying a muscle car with the aim of making money out of it (unless you're buying a shell and can do all the work yourself etc).

[max_torq]

Why would prices go down significantly, they haven't for the older vintage cars have they? You used to be able to find 30's cars for hot material everywhere but they long disappearred and now these post-war cars are doing the same. One thing that doesn't change they get older year by year. The thing is that in this economic situation some individuals that own these cars are in a position where they are may have to sell rapidly for their own reasons, and won't make the market price. This is where bargains are to be had.

[RedHotGT]

but only some car values jump/fall...

like i said on another thread the other day...
I was looking at magazine from 2001...
1960's Mustang Coupes at $30k average... (for a good 7-8 out of 10 car)...
and today... 2010
1960's Mustang Coupes at $30k average... (for a good 7-8 out of 10 car)...
still much the same...

where as the aussie cars, have spiked due to the economy...

and I tend to agree with trippytaka... factor in some major downturn in the property and share market in the future... because the balloon that is our economy can only be inflated so far before she goes BANG...

though - i'll be in a good position then - so I'll be looking forward to the future and see what happens...

[Auslandau]

Originally Posted by Hardtopxb

Give it another 2 or 3 years and Muscle car prices will be right back up there.

Yep agree ..... its a cycle and will always go up and down for the 'right' cars. (Think I have said that before ... bit of deja vu)!

Originally Posted by HO 3

I would recommend that they do it the old fashion way....be patient, work hard, save their dough so they can genuinely afford these luxurys!

If you can afford it on borrowed money .... go for it! Bugger the wait. Only around once.



| [/url] |

[gcg2503]

Originally Posted by Auslandau

If you can afford it on borrowed money .... go for it! Bugger the wait. Only around once.

Totally agree with the above

Some people consider borrowing against equity in property as a bad thing

For example, if you have close to $2m equity in properties is it still considered a bad thing to draw down $60-$100k for a dream muscle car?

It all boils down to whether or not you can service the debt in my opinion.