> Bob,
>
> I don't think you can really compare gas prices and MG prices. One is
> something we need and the other is a non-essential. I would still have
> to buy gas (or I wouldn't be able to get to work), no matter how much
> the price went up (the oil companies know this), but I wouldn't buy an
> MG if the price went too high - That's why I don't own a T-series car
> yet (non-essential).
>
> (Anybody want to trade me a T-series for a '74 Midget?)
>
> -NORY
Nory,
I agree. There's an economics term that describes products such as
cigarettes, where consumers will pretty much always buy the same
amount, but they are very fickle when it comes to brands, often
switching brands when the price of their regular brand gets to be
higher than average. I think the term is "inelastic", or something
like that. The same is true for collector cars. Collectors will
always collect, but if a particular marque gets artificially
inflated, collectors will just buy another type of car, until the
reduction in demand lowers the prices again. No one can hold the
car market by the "short hairs", pardon the vulgarity, because no one
HAS to buy any particular type of car.
Scott
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