The Market

[Dick Steinkamp]

This car was an RNM this morning on BaT at $62K. That's $8k less than what it sold for in 2017. Is the market that bad for sellers or are there other factors?

I don't think the car looks any different between 2017 and today. I'd guess there are even more BaT members than 6 years ago. Does Car Week help or hurt this week's BaT Auctions?

 

[Ohmess]

I doubt Car Week has a huge effect on the market. If it did, there would be bottom feeders looking for deals this week.

Given Pelly's comments, I think this auction is telling us that demand for our cars is down quite a bit.

 

[Bmachine]

I pity the seller. If it was me, the last thing I would want is to have my "little" (by comparison) auction go in the middle of the biggest high profile car auction week of the year. In fact I would probably avoid all of august to stay away from the pre and post car week fever entirely

Then again, it only takes 2 bidders...

 

[Ohmess]

I pity the seller. If it was me, the last thing I would want is to have my "little" (by comparison) auction go in the middle of the biggest high profile car auction week of the year. In fact I would probably avoid all of august to stay away from the pre and post car week fever entirely

On the other hand, you have a large pool of buyers thinking about buying a classic car during Car Week. Surely some of them will tune in to BAT.

 

[Dan Wood]

Or do the sales follow the stock market?
I have also seen many RNMs on other vehicle types I follow.
Might be a good time to buy.

 

[Dick Steinkamp]

Or do the sales follow the stock market?

I would think sales would be up in times of high inflation but I don't think we saw (are seeing) that. "Things" at least sound like a better investment than depreciating dollars but if they are depreciating too, then what?

The stock market is close to a 5 year high.

and up ytd

Maybe it's the economic uncertainty?

 

[Dick Steinkamp]

In fact I would probably avoid all of august to stay away from the pre and post car week fever entirely

On the other hand, you have a large pool of buyers thinking about buying a classic car during Car Week

I see the two sides of that coin also.

 

[Arde]

I would think sales would be up in times of high inflation but I don't think we saw (are seeing) that. "Things" at least sound like a better investment than depreciating dollars but if they are depreciating too, then what?

The stock market is close to a 5 year high.

View attachment 167022

and up ytd

View attachment 167024

Maybe it's the economic uncertainty?

Weird, given classic cars are not finance purchased one would think there would not be an interest rate sensitivity like real estate.

Uncertainty does matter I agree.

 

[Mal CSL 3.0]

Maybe it’s a bit slow for some sales recently but I don’t think the market is too bad….eg this just sold for nearly $2 million, which was way over estimate.