427 Convertible as a collector car?
08-03-2018, 03:14 PM
#21
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St. Jude Donor '05
Seems the muscle cars value has nose dived too. 2 yrs ag coulda gotten twice what I could now..
See many with pie in the sky prices but those sit on the web month after month, come and go, reappear etc.
What next gen is lining up to buy these? Get your moneys worth, when were all gone they are going to be fire saled off and the money spent in a day thats the truth.
See many with pie in the sky prices but those sit on the web month after month, come and go, reappear etc.
What next gen is lining up to buy these? Get your moneys worth, when were all gone they are going to be fire saled off and the money spent in a day thats the truth.
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fireparamed (08-03-2018)
08-03-2018, 03:33 PM
#22
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08-03-2018, 03:42 PM
#23
He didn't "risk his legacy" on 3 cars. He was a blue collar firefighter, home mechanic that had 3 relatively original family owned Mustangs and a shop and could turn a wrench......with his kids. He could trade work for parts and paint etc. It was his way of trying to GIVE something more to his kids.....he wasn't going to have a huge stock portfolio so he used his hands and sweat to do it. He just misstimed the market.....not unlike a stock trader. (The cars ended up having too much sentimental value to sell when he should have) He could still make money on the cars today compared to what he's put into them.....just not the amount he could've at the muscle car mania peak.
Geeesh tough audience.
Last edited by fireparamed; 08-03-2018 at 03:44 PM.
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johnodrake (08-04-2018)
08-03-2018, 04:03 PM
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08-03-2018, 08:01 PM
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St. Jude Donor '15
"In honor of jpee"
He didn't "risk his legacy" on 3 cars. He was a blue collar firefighter, home mechanic that had 3 relatively original family owned Mustangs and a shop and could turn a wrench......with his kids. He could trade work for parts and paint etc. It was his way of trying to GIVE something more to his kids.....he wasn't going to have a huge stock portfolio so he used his hands and sweat to do it. He just misstimed the market.....not unlike a stock trader. (The cars ended up having too much sentimental value to sell when he should have) He could still make money on the cars today compared to what he's put into them.....just not the amount he could've at the muscle car mania peak.
Geeesh tough audience.
For instance, I'd bet you've learned thru his mistake(s) that you will not buy a bunch of classic cars, put money into them and wait/hope for them to appreciate in value, right? Especially if you are, oh, say age 70 and this is your entire retirement stash being put into the cars. Not that it won't appreciate, but the question is if you will know when to sell, or if it will even appreciate in your lifetime. Ahhhh, that.
08-04-2018, 10:22 AM
#26
Well, if you ask me, and you kinda did by putting the example up of your friend/colleague, he was playing a game called invest for monetary appreciation. And he didn't understand the rules of investing. I'm not being mean, just truthful. As one who has done similar things, but not with cars or rebuilding muscle cars with my kids, I can say I've "won" and "lost" and sometimes it's been big (to me, and really, to anyone else who heard the numbers). What I've learned is about me, and about investing.
For instance, I'd bet you've learned thru his mistake(s) that you will not buy a bunch of classic cars, put money into them and wait/hope for them to appreciate in value, right? Especially if you are, oh, say age 70 and this is your entire retirement stash being put into the cars. Not that it won't appreciate, but the question is if you will know whein to sell, or if it will even appreciate in your lifetime. Ahhhh, that.
For instance, I'd bet you've learned thru his mistake(s) that you will not buy a bunch of classic cars, put money into them and wait/hope for them to appreciate in value, right? Especially if you are, oh, say age 70 and this is your entire retirement stash being put into the cars. Not that it won't appreciate, but the question is if you will know whein to sell, or if it will even appreciate in your lifetime. Ahhhh, that.
My friend and his siblings and cousins were teenagers in the 60's. They bought Mustangs as their first cars. They owned these cars and took care of these cars. The 3 cars were original owners cars that he ended up keeping in the family by buying them from siblings when their value was low in the early 80's. The plan was to bring each back to original shape and give one to each child. They sat in his workshop and over the last 30 years he and his kids worked on them as family projects. The only expenses they came across were for parts, and in many cases he traded work for parts. He has a paint booth, and as many tools as most good mechanic shops. He does this stuff for pay on the side. He's been turning wrenches since he was 17. During the time they were working on the cars the muscle car market exploded. The cars value grew substantially especially because the cars were basically original and not crazy over the top builds. All of the cars got finished and then the market dripped out. The value of each car is STILL substantially more than the money invested. The work was done as a project to spend time with the kids. It was not run as a business venture or investment plan to become rich.
He has retired and has a fire pension. He has a 401k. This is all stuff he did on the side with his kids to restore family owned cars. Spend time together and perhaps give them a nice investment grade car to enjoy down the road. This wasn't a speculative venture that backfired. It was a gearhead restoring family cars for fun that then followed the ups and downs of the market. He still turns wrenches as a way to keep busy. He has a car he rents out for weddings. He still paints hot rods for friends. He's just a throw back gearhead.
08-04-2018, 11:51 AM
#27
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St. Jude Donor '15
"In honor of jpee"
My apologies. Forget I made the post on your friend. I believe you've taken my post the wrong way since I understood most of what you wrote prior to your most-recent post. And I fully understood then, and now that the "value" is not, nor was it ever in the added worth of the cars; it was about many more things that have nothing to do with money. No offense intended.
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919cw313 (08-04-2018)
08-04-2018, 02:15 PM
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08-04-2018, 02:25 PM
#29
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I guess I really need to explain this.
My friend and his siblings and cousins were teenagers in the 60's. They bought Mustangs as their first cars. They owned these cars and took care of these cars. The 3 cars were original owners cars that he ended up keeping in the family by buying them from siblings when their value was low in the early 80's. The plan was to bring each back to original shape and give one to each child. They sat in his workshop and over the last 30 years he and his kids worked on them as family projects. The only expenses they came across were for parts, and in many cases he traded work for parts. He has a paint booth, and as many tools as most good mechanic shops. He does this stuff for pay on the side. He's been turning wrenches since he was 17. During the time they were working on the cars the muscle car market exploded. The cars value grew substantially especially because the cars were basically original and not crazy over the top builds. All of the cars got finished and then the market dripped out. The value of each car is STILL substantially more than the money invested. The work was done as a project to spend time with the kids. It was not run as a business venture or investment plan to become rich.
He has retired and has a fire pension. He has a 401k. This is all stuff he did on the side with his kids to restore family owned cars. Spend time together and perhaps give them a nice investment grade car to enjoy down the road. This wasn't a speculative venture that backfired. It was a gearhead restoring family cars for fun that then followed the ups and downs of the market. He still turns wrenches as a way to keep busy. He has a car he rents out for weddings. He still paints hot rods for friends. He's just a throw back gearhead.