This may be the sign of the top of the bubble with Bloomberg talking cars... Running for the exits in 3, 2, 1,... Robb
Yeah, what a bold prediction by Bloomberg. On a side note: I predict the DJIA will lose about 2% in 2015...
I have an 87 930 turbo...what should I do? when will the bubble burst? how long do I have to try to sell it w/o taking a bath???
how long will it take to air it out ? The next owner will definitely notice your lack of personal care :=) Why did you buy it ? If you like it , keep it, no worries and continue to enjoy
future prices will depend on what the world economies / central banks will do... the US has a lot of debt as well as many other countries, it needs to repaid somehow... printing more money, this time to gain a cheaper dollar vs stimulate the economy, to repay debit with currency that is worth less... pun intended :=) this path should create a round of inflation, driving current prices up even further... hopefully the next administration will have better controls over government spending... definitely hoarding / holding currency of any kind is more risky than holding goods or non currency stores of value... just look to what happened to the Soviet Union currency going into the 1990s
inflation WILL occur... the most visible seeds are being set by raising the minimum wage for burger flippers and the raising interest rates on our unprecedented national debt...the $100,000 beater collector car could become $1,000,000 collector car beater when all the dust settles... the US economy is at the tipping point where those NOT paying taxes / on govt subsidies exceeds those that are paying into the system... other currencies have failed where at some point what was bought for a $1 previously would take $3,000 to buy... reality is harsh
“If a guy spends $500,000 on one, chances are he’s had a few of them already—and there’s a reason he keep buying them,” Duff said. “They’re just finally getting to be worth what they should have been worth a long time ago.” I think this is right. Vintage Porsches were undervalued for years. I don't know that I'd be "investing" in them now, but the pre-'74 cars have always been huge value for the money. Compare a 1969 Porsche and a 1969 Ferrari. And I agree also that part of the reason they are desirable is the reliability. I put miles on my 356 every week, don't really care about the odometer, and if it needs a full engine rebuild at some point ... well, that's still cheaper than a full major on a Ferrari 355. And it's a 356A, which isn't even all that well-sorted compared to the Bs and Cs. “Of all of the people who sold a [classic] SL this year, 50 percent of them turned around and bought a Porsche,” said McKeel Hagerty, the CEO of Hagerty, an insurer of vintage automobiles. “Of that group, half bought a 911, and half bought a 356. I don’t think that’s a coincidence.” Wow. If this is true, interesting. I haven't driven a 300 SL, but I have driven vintage 911s and 356s, and there is a fun factor to the Porsches I haven't found in other vintage cars. "Here’s what’s likely pushing the Porsche passion: Guys who were kids in the ’80s. “Guys in their 40s now had a poster of that car when they were 10 years old,” Duff said of the Porsche 911, “and now they’re out there finding them.” There were almost no 356s or vintage 911s left on the road 30 years ago, so this statement doesn't explain much of anything. As soon as 560 SLs pass the 300 SLs in market value, and the 911 3.2s pass the 911 2.2s, I'll be convinced. The market likes the vintage stuff because it was made with extraordinary attention to detail, often with hand assembly involved, and it's all simple and robust. I grew up in the '80s and almost without exception everything from the decade was crap that needs to rust away.
A nice 930 will always be $100,000 car. This is a price correction. Yes many have been shut out for good. Yes they want to cry and complain. There are still many cars you can buy right BMW, Lotus,Alfa ect. Sent from my iPhone using Tapatalk
and articles like this don't help either. Although Vantage or 928 poses an interesting question CCFS - Daily Newsletter
