Whats the current speculation for classic car prices?

Jack91 · 16-09-2023, 08:15 AM

3 months ago i expected prices to really fall hard but it seems like people are prepared to just leave their overpriced cars up for sale forever and just hope for a sucker to come along. Ive also seen 2 instances (68 chevelle and 69 superbee) where they've increased prices after getting no good offers (i talked to both, chevelle went up 45k and superbee went up 25k). Chevelle still hasnt sold (and never will) and superbee has ended up at auction with the same 100k+ reserve thats going to be near impossible to hit.

Whats actually going on right now with classics and muscle? The auction prices are down, but private sales are still crazy. Shouldnt auctions dictate private sales?

Jack91 · 16-09-2023, 08:27 AM

I didnt follow the latest shannons auction super close except for 1 car, a 68 charger.
Fully restored, really nice job. Sold for 105k. Closest thing to it privately is up for 170k.
70 challenger at 782motors the other week sold for about 105k aswell. Fully built beautiful example, pretty sure it was a hemi aswell. Similar private sales 150k+.

I really dont get it

MrEL · 16-09-2023, 08:34 AM

People drunk the kool aid.
Got sucked in and wrapped up with it all and paid stupid prices.
Now life's expensive and there's no money around.
Toys have crashed and burnt.
Even motorbikes have not jumped up in value like they normally do this time of year when good riding weather is kicking off.
People are trying to keep the market high so they don't have to admit they have just ripped up $30k when they move the toy on.
My brother saw the writing on the wall and moved his XD on for low $40s literally a month before the rug got pulled out from under them.
Same car is a $25k car now.

FG50T · 16-09-2023, 09:19 PM

Many people believe a peak value of a car is what they’re worth - eg people still call XY P3’s $1m cars.

**fordomatic** · 16-09-2023, 10:22 PM

The right cars are still fetching big money. If you have something someone wants, they will pay.

Rob 351 · 17-09-2023, 07:16 AM

Quote:

Originally Posted by fordomatic

The right cars are still fetching big money. If you have something someone wants, they will pay.

100% fordomatic. Look at GTF’s, still on the rise and you need north of 150k now to Aquire one and they are selling.
XB GT’s are almost XA GT money these days also and who would have thought you’d ever see that.
Watch an XC Cobra come up for sale and see how long it lasts and you’ll be paying north of 200 k for a 351 example these days.
Plastic 5.4 GT’s have come down a fair bit but they aren’t exactly rare and we’re probably a tad inflated anyway imho but your still paying good money for SC 5.0 version with reasonable k’s.
Rare collectable cars will always be worth money.

Jack91 · 17-09-2023, 09:28 AM

Quote:

Originally Posted by FG50T

Many people believe a peak value of a car is what they’re worth - eg people still call XY P3’s $1m cars.

This is sort of the problem.
People make weird connections to this.
They think that a really bad shell of an xy 6cyl falcon 500 MUST be worth 20k because its the same thing in their mind.
Probably the most frustrating thing you always see with aussie muscle is the genius that blows apart a good car over a weekend, strips the paint off it with a grinder, then puts it outside for a year and loses/sells/breaks all the hard to get parts. Then they reckon theyve done you a favour by doing "most of the hard work". "Just needs floors" etc. And the good old "too many projects, dont have time" when its obvious they ran out of talent and cant work out how to put it back together.

Really makes me angry that.
Dont start it unless youve got the skills, time and space. And especially dont waste everyones time asking for anywhere near what you paid for it complete.

Further to that you cant "buy everything real cheap through rare spares". I got into a big argument with a fella with a project ranchero as it was missing its front nose chrome. You cant get it anywhere. He started to get snakey and arguing about it so i said if you send me a link and its available ill buy the car for asking price.
Then he blocked me.

This mainly only happens to aussie cars thankfully.

Syndrome · 17-09-2023, 09:55 AM

We are at or near the peak.

jpd80 · 17-09-2023, 10:13 AM

There’s still buyers out there but getting that one buyer who will accept close to the asking price might take a while
I had my fill of V8 Falcons back in the early 1980s, I don’t need to relive them by paying a huge premium today.

**Polyal** · 17-09-2023, 07:21 PM

Prices for most things have cooled of pretty heavily from what I see. It got stupid during covid so things are levelling out.

Jack91 · 25-09-2023, 05:33 PM

Quote:

Originally Posted by Polyal

Prices for most things have cooled of pretty heavily from what I see. It got stupid during covid so things are levelling out.

Tell the owners that. As the other bloke said people just have their heads in the sand. Only have to look at the back catalogue for seven82 and lloyds auctions to see that the parties over and stuffs just not moving.
I had to ring seven82 today as the challenger i was interested in reappeared in next months auction, even though i watched it sell a couple of weeks ago clear of reserve.
He told me the number and its totally ridiculous. Might as well have been a million.

Franco Cozzo · 25-09-2023, 06:54 PM

Economy is starting to bite on luxury purchases, though things actually used for work like single cab diesel work utes, rigid trucks and prime movers are still absolute drug money.

$12,000 is the new $5000 ****box ute of three years ago.

**anobserver** · 25-09-2023, 07:39 PM

Quote:

Originally Posted by Franco Cozzo

$12,000 is the new $5000 ****box ute of three years ago.

Mate of mine is contemplating changing cars. His current ride - a conventional hatchback - is suffering with quasi commercial use.

So i said to him basically what you wrote above, Franco. Didnt believe it until he looked for himself.

And double that again for low mileage.

Two dollar petrol appears to be eroding demand for six pot vehicles. Cars arent selling as quickly, and the sellers arent desperate enough yet, to drop pricing.

Smoke Pursuit · 27-09-2023, 12:53 AM

Quote:

Originally Posted by Rob 351

100% fordomatic. Look at GTF’s, still on the rise and you need north of 150k now to Aquire one and they are selling.
XB GT’s are almost XA GT money these days also and who would have thought you’d ever see that.
Watch an XC Cobra come up for sale and see how long it lasts and you’ll be paying north of 200 k for a 351 example these days.
Plastic 5.4 GT’s have come down a fair bit but they aren’t exactly rare and we’re probably a tad inflated anyway imho but your still paying good money for SC 5.0 version with reasonable k’s.
Rare collectable cars will always be worth money.

Orange GTF manual sold at auction the other day for 90k plus fees. Had 70k on it but still tidy. The hay days are over for a while.

bangm001 · 27-09-2023, 10:22 AM

Wow that's cheap as. Do you have a link to the car?

Iv got my FG2 GT insured for 85K lol

Smoke Pursuit · 27-09-2023, 10:41 AM

Quote:

Originally Posted by bangm001

Wow that's cheap as. Do you have a link to the car?

Iv got my FG2 GT insured for 85K lol

Was Lloyds. No link.

For a manual it was cheap. Only thing wrong with it was it had a towbar (not everyones cup of tea and not cheap to fix).

90k plus 7.5% = $96,750.

None of the ones on carsales are selling and those that disappear its hard to know if they have actually sold or just been withdrawn for sale.

This auction one is a good indication of how slow the market currently is.

Rob 351 · 27-09-2023, 12:42 PM

Quote:

Originally Posted by Smoke Pursuit

Orange GTF manual sold at auction the other day for 90k plus fees. Had 70k on it but still tidy. The hay days are over for a while.

That is cheap! Lot of k’s though and if I was in the market for one, I personally wouldn’t chase that particular car simply because of it’s high mileage! Therefore I’m back in the 150k plus range for a low mileage (under 10,000 k’s) version.
I have seen 3-4 sell in the last 6 weeks for north of 150k, how long that will last only time will tell but with another interest rate rise looming, it might get a little easier for anyone hoping to acquire one…

Smoke Pursuit · 27-09-2023, 01:10 PM

Quote:

Originally Posted by Rob 351

That is cheap! Lot of k’s though and if I was in the market for one, I personally wouldn’t chase that particular car simply because of it’s high mileage! Therefore I’m back in the 150k plus range for a low mileage (under 10,000 k’s) version.
I have seen 3-4 sell in the last 6 weeks for north of 150k, how long that will last only time will tell but with another interest rate rise looming, it might get a little easier for anyone hoping to acquire one…

Do you know if they have actually sold though or just basing that on them disapearing off carsales? Given that these cars were all around the 90 - 100k mark, and are coming up for 10 years next birthday, with interests on original purchase (assuming you weren't a cash buyer) plus 10 years of rego / insurance they really have not been that great of an investment, pretty much break even.

I personally would rather drive mine (like my Pursuit back in the day) and would be open to buying one with 60 - 100k on it for the simple fact that its moved.

**Polyal** · 27-09-2023, 02:11 PM

Carsales is a bit of a crock, would be nice if there was data somewhere on advertised vs sale price, bit like you can most of the time with realestate. Obviously, the volumes of data is different but it would be interesting.

Rob 351 · 27-09-2023, 02:37 PM

Quote:

Originally Posted by Smoke Pursuit

Do you know if they have actually sold though or just basing that on them disapearing off carsales? Given that these cars were all around the 90 - 100k mark, and are coming up for 10 years next birthday, with interests on original purchase (assuming you weren't a cash buyer) plus 10 years of rego / insurance they really have not been that great of an investment, pretty much break even.

I personally would rather drive mine (like my Pursuit back in the day) and would be open to buying one with 60 - 100k on it for the simple fact that its moved.

Not 100% sure mate but at least 2 were through car dealerships and one was Australian Muscle Car Sales so you’d presume they were sold.
Can’t be sure though..

Jack91 · 27-09-2023, 05:50 PM

I offered this fella wayyyyy more than this for this car 2 weeks ago. He had it on marketplace for 100+.
Told him cash, ill come down and get it today if its as described.
"Too low" blah blah blah.
Its so hard not to message him now.

I think im going to wait and let some of these non sales sink in to the owners for a while.

Citroënbender · 27-09-2023, 06:02 PM

What if he’s just trying to prove to his Mrs that it’s better to keep the car than sell it? “See? Nobody’s offering what it’s worth!”

FG50T · 02-10-2023, 02:22 AM

A few weeks ago I managed to buy a GT R-Spec for $78k with 33,000kms black with red stripes/wheels/spoiler combo. Very happy with that as it was advertised 20% more than what I paid but have been watching them on Carsales not move for a couple of years now which helped with bargaining.

ToryMikey · 02-10-2023, 08:23 AM

Quote:

Originally Posted by Jack91

This is sort of the problem.
People make weird connections to this.
They think that a really bad shell of an xy 6cyl falcon 500 MUST be worth 20k because its the same thing in their mind.
Probably the most frustrating thing you always see with aussie muscle is the genius that blows apart a good car over a weekend, strips the paint off it with a grinder, then puts it outside for a year and loses/sells/breaks all the hard to get parts. Then they reckon theyve done you a favour by doing "most of the hard work". "Just needs floors" etc. And the good old "too many projects, dont have time" when its obvious they ran out of talent and cant work out how to put it back together.

Really makes me angry that.
Dont start it unless youve got the skills, time and space. And especially dont waste everyones time asking for anywhere near what you paid for it complete.

If you've done "most of the hard work" then why haven't you done "all of the hard work".

ToryMikey · 02-10-2023, 08:26 AM

Quote:

Originally Posted by jpd80

There’s still buyers out there but getting that one buyer who will accept close to the asking price might take a while
I had my fill of V8 Falcons back in the early 1980s, I don’t need to relive them by paying a huge premium today.

To be fair, not all of us are old enough for that experience. The issue is, I'm 29 and would love an old school V8 Falcon (particularly an XD) but can't justify the money when it can put a deposit on another house. Well and truly missed the boat on that one, hence why I just play with the 90s stuff instead.

Still spewing about the $3500 manual EF XR8 in Heritage Green that I passed up in 2015. Because why would I waste my money on cars that were only going to depreciate. I love you Mum but that's the worst advice I've ever been given!

Syndrome · 02-10-2023, 06:54 PM

Two Landau's on Carsales been there for months!

Jack91 · 02-10-2023, 08:42 PM

Quote:

Originally Posted by Syndrome

Two Landau's on Carsales been there for months!

Yeah because the prices are high and theyre super niche.
Just ask the owners how special they are though.
Landau owners LOVE to explain.

Youd be nuts to not buy a torino, olds 442 or gto if thats the style you wanted.
Youd have a tonne of change too!

Syndrome · 02-10-2023, 08:44 PM

Quote:

Originally Posted by Jack91

Yeah because the prices are high and theyre super niche.
Just ask the owners how special they are though.
Landau owners LOVE to explain.

Youd be nuts to not buy a torino, olds 442 or gto if thats the style you wanted.
Youd have a tonne of change too!

I'd rather buy a 1973 or earlier Lincoln Continental coupe with the 460ci.

Jack91 · 02-10-2023, 08:53 PM

Quote:

Originally Posted by ToryMikey

To be fair, not all of us are old enough for that experience. The issue is, I'm 29 and would love an old school V8 Falcon (particularly an XD) but can't justify the money when it can put a deposit on another house. Well and truly missed the boat on that one, hence why I just play with the 90s stuff instead.

Still spewing about the $3500 manual EF XR8 in Heritage Green that I passed up in 2015. Because why would I waste my money on cars that were only going to depreciate. I love you Mum but that's the worst advice I've ever been given!

Playing with old cars bought my house. Not the whole thing but sold up what i had and couldve probably paid for 2/3s of it. Bought a heap of equipment and built a workshop instead.
A v8 falcon will give you way more enjoyment than another mortgage to stress about. Plus, cars are liquid, easy to get out of if you need to. Usually dont lose either if youre not silly at both ends

ToryMikey · 02-10-2023, 09:29 PM

Quote:

Originally Posted by Jack91

Playing with old cars bought my house. Not the whole thing but sold up what i had and couldve probably paid for 2/3s of it. Bought a heap of equipment and built a workshop instead.
A v8 falcon will give you way more enjoyment than another mortgage to stress about. Plus, cars are liquid, easy to get out of if you need to. Usually dont lose either if youre not silly at both ends

No arguments there. I live in a cheap area and enjoy my work so I know I don't need to stress about saving every last bit. It's just hard to break the extreme delayed gratification habits I built up during my teens...

Now time to find an EF XR8 manual just like the one I passed up