Saturday, January 17, 2009
Friday, January 16, 2009
But Rat Rods are ratty looking! If you have $50k under the skin, why not top it off with a 100 coat hand rubbed paint job and really wow the world?
Give me a break! If you drive a Rat Rod, what kind of statement are you making? "Hi world, here I am, a ratty person with an ugly, fast car?" The same thing goes for Art Car owners, are you debasing yourself or just cleaning out the garage? Your girlfriend HAS to be ashamed to ride in it?
Don't misunderstand me, if you are driving a ratty looking classic just for the fun of it before you start restoration on it, I am not talking about your car!
Yeah, I know, I am going to get a lot of nasty emails because of this article! But I stand by what I wrote!
Copyright 2009 BS Brash
Thursday, January 15, 2009
WHERE IS THE MARKET HEADING?
- Mark C Bach
Even after the dust settles from the auctions currently being held in Arizona, I’m not sure many folks will know the answer to that question. That being said though here are a few thoughts to ponder.
Most cars are being bought at a car auction with a buyer’s premium. That means above the stated purchase price, the buyer must pay an extra amount. And most sellers get a commission deducted from the selling price. So auction houses make money from both the buyer and the seller. What that also means is there is always a gap (sometimes huge) between what a buyer pays for a car and what a seller receives for that same car.
So buying at an auction and then quickly selling it can be an expensive and harsh lesson.
Hagerty Insurance sponsored a Smart Collecting Seminar at the Russo and Steele Car Auction this morning, Thursday January 15, 2009 in Scottsdale. The six panelists voiced their opinions on several items that collectors can take to heart.
Has the Collector Car Market Tanked?
No. Some speculators who rushed blindly into the market may get spanked, but prices- while soft- have certainly not dropped as much as the US stock market.
“Knowledge is Power” said McKeel Hagerty and with the growth in the Internet and the sources available to knowledgeable appraisers, a prudent buyer will know more about the cars available today. They’ll know common repair issues, past history on specific cars and what prices have been going for on that marque around the world.
Collect with a Passion
For the past five years many felt that the collectors are buying cars that they had a personal connection to. So even if the market does drop, the collector can still keep the car without regrets. The car was bought to bring pleasure and that won’t change.
Many of us can remember when silly money was being spent for questionable 57 Bel Air Convertible Fuel Injected cars in the late 1990’s. If you were buying as an investment that was probably dumb. If you bought one because you always wanted a Bel Air convertible and have kept it, what’s the harm? Just as in stocks you don’t suffer a “loss” until you sell.
Photos and copy all copyrighted 2009 by Mark C Bach
Wednesday, January 14, 2009
Barrett-Jackson Day Two
- Mark C Bach
The second day of the Barrett-Jackson auction is being held today and Speed is showing five hours live (5-10 PM, locally from Arizona.). Speed cable coverage continues through Sunday with live telecasts and tape re-broadcasts. The weather was great and as the television lights came on, so did the prices.
The folks from GM are selling off some cars from their Heritage Museum. It is interesting to note that the auctioneers are repeating frequently that these cars are not warranted, nor necessarily carry the required safety or emission equipment. Instead of a bill of sale, which is common when cars don’t have a Vehicle Identification Number (VIN) like NASCAR race cars – these cars are being sold with a scrap title. Some collectors might be paying top dollar for cars that will never be able to get on the road. Speaking of NASCAR, Rick Hendrix was buying some of these GM pieces.
When GM first started to list the cars they were releasing for this auction, some bloggers criticized them for selling plain Jane pieces that could be easily be replaced in the museum at a later time. But in reality many are concept cars or one offs that don’t have a twin in existence. These cars were rightful fought over and the prices show the collectors’ interest.
Copy & Pictures Copyrighted Mark C Bach 2008