On Wed, May 14, 2003 at 02:51:02PM -0500, Chuck Renner wrote:
> > owner paid for it. IMO there is very little point to trying
> > to keep things
> > as investments for future sale. Regardless of how you enjoy
> > a toy I don't
> > think profit should be a factor.
>
> There are very few cars that can be restored and a profit made on
> selling them. And you're at the mercy of 'what's hot' in the
> marketplace at the time, so it's a huge gamble. Look at the huge
> balloon in car prices during the late '80s. A lot of people spent $100K
> on E-Types. While a perfect E-Type is still worth a pretty penny, their
> current value is far below those crazy days.
A couple years after college, I was in a book store an found a book
on prices of collectable cars. I paged thru it and then when looking
thru the paper, found a DB4 at a collectable lot near my house.
I went and looked at it. The book said that a very good condition
on should be (I'll just make up a number) $12,000. The salesman
should we a pretty well clapped out one for $16,000 (again, made
up but somewhere in there). There was another owned by a celebrity
of the '60s, an actress, but other than that I don't remember, in
pretty good shape, going for $25,000, roughly double the books
likely price.
If I remember correctly, it also had projected values for 5 to
10 years. It never approached the asking price. The book was only
a year or so old.
Being a punk kid of 23-24, he didn't even let me sit in the cars.
--
Paul T. Root - CCSA, CCSE, CCNA
600 Stinson Blvd, Fl 1S PAG: +1 (877) 693-7155
Minneapolis, MN 55413 WRK: +1 (612) 664-3385
FAX: +1 (612) 664-4779
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