[tcb] Re: $55,000 ~ WARNING !!! RANT FOLLOWS !!!

  • From: a riggs <redvan71@xxxxxxxxx>
  • To: tcb@xxxxxxxxxxxxx
  • Date: Sat, 20 Jan 2007 17:24:32 -0800 (PST)

*** WARNING!!! RANT FOLLOWS ***

This has happened to a number of cars as speculators (notice I did not say
"investors") get involved.  It has nothing to do with their affection for
the vehicle, the a**holes just want to make money.  The more the better. 
They love to create noise, euphoria and confusion which gets people to
leave their senses and pay silly prices. Auction houses of all stripes are
good at this (Why do you think they schmooze and serve free booze to the
bidders?)

They work on the "greater fool theory" - "If I'm fool enough to pay
$40,000 for a VW bus, surely a greater fool than I will pay me $50,000 for
it!"  The classic case of this is "tulip mania" in the 1600s.

http://en.wikipedia.org/wiki/Tulip_mania

If you were to graph prices on various brands and especially certain
models, you would see it happen. A few (but a very few) do go up and stay
there, but quit climbing at silly rates.  Most fall out of favor and crash
horribly, fading into the night.

The sad part of it is that the vehicles no longer have value as a
driveable piece of transportation but become "collector's items."  If you
paid $58,000 for 23 window, would you drive it ANYWHERE knowing a gravel
chip, door ding or bad scratch could cost you $10,000 in value?  Heaven
forbid we put the kids in back and stop by a Dairy Queen on the way to the
beach!

GRRRRR#%&!@+$%#...

If you need me, I'll be cruising in my "pristine" '71 panel...

Allan


--- Peter Albarian <pcalbar@xxxxxxxxxxx> wrote:

> Sammie,
> When you say a 23w should go for around $45k, you need to qualify
> vintage and options.  For a '62-'63 vintage I agree with you.  Go back
> to big bumpers and bullets and they'll fetch more.  Pressed bumper
> deluxes go for closer to $75k and it's hard to say what a BD Deluxe
> would fetch if very well restored; $115k+?  When I was at Lennie's shop
> last Summer, he had just sold a '62 23w done at his shop for $58k.  A
> somewhat flawed restoration, in the opinion of Kirk and I, of a '58 23w
> had an asking price of over $70k there.  They aren't going down, that's
> for sure!
> Peter
> 
> BlackBerry service provided by Nextel
> 
> -----Original Message-----
> From: sammie smith <bugcollections@xxxxxxxxxxxxx>
> Date: Sat, 20 Jan 2007 14:24:57 
> To:tcb@xxxxxxxxxxxxx
> Subject: [tcb] Re: $55,000
> 
> Now you guys done let out the secret to Beverly as to how much theswe
> busses are really worth!
> 
> Beverly Williams <bevwill64@xxxxxxxxx> wrote: Sweet!
> 
> Ronnie Hughes <fracdogii@xxxxxxxxx> wrote:  
> Now I know what Sammie's retirement plan is - selling buses at
> Barrett-Jackson. 
>   
>
http://www.barrett-jackson.com/carlist/cardetails.asp?In_AuctionID=221&amp;In_LotNumber=1215:
>
<http://www.barrett-jackson.com/carlist/cardetails.asp?In_AuctionID=221&amp;In_LotNumber=1215>
>  
>  
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