Euro Tanking against the Dollar

I see today - Tuesday - the Euro dropped to a low of $1.068 to the dollar at 9:30PM.
Is it just me or do any of you feel the bubble has burst? Keep your eye on the Auctions at Amelia Island.
The Euro has dropped from a high of $1.387 on March 12th 2014 to a $1.06 today. Thats a drop of $0.32. or about 27%. Thats huge.
Check out Yahoo Finance EURUSD=X Interactive Stock Chart | Yahoo! Inc. Stock - Yahoo! Finance

As I see it our cars have just taken a 27% plunge as most cars were priced against the Euro because it was high.
I guess now is the time to purchase some wire wheels and other Italy only parts for your Maserati.
Those traveling on my sold out Car Guy Tour will enjoy a bonanza of great values this coming Sept and I will be at the local flee markets stocking up on rare parts.
Funny how the world turns. I can remember when we were dealing in Lira and the dollar bought fist full of the stuff. Something like 2,400 lira to the buck. Those were great times and here we are again.
How is the Euro effecting you?
Our Balsamic now cost us 27% less but will I lower my price? No, but it makes it easier to give bottles away for promotion.
Did the airlines lower their price when a barrel or oil went from $100 bucks down to $30, nope.

I invite others, especially our European friends to share their comments on the drop of the Euro and how it is effecting the cars.
Ciao,
FGM

 

Kill joy!

 

Think positive!

This is a great time for Americans to buy European cars! And for the European seller a Euro is still a Euro.

 

Mike,

Very true. I think you will see cars coming back to the USA.

It is time our Khamsins back

Ivan

 

If i was in Europe i would be hanging on to any collectable cars i had and also gold, the Euro is in trouble and with 18 trillion in debt the US is far from safe, hard to believe the US dollar is at the level it's at, i guess it's a case of the best of the worst... Dan

 

Agree, hang on to your asset. Money means nothing, values of various currencies are completely loose from any realistic relevance.
As for cars crossing the Atlantic in the opposite direction: Surely this will happen to an extent, but don't forget that many cars are priced way higher in Europe than in the US, with various causes like specification and taxation.
Definitvely a great time to buy your Borrani's and whatever spares if you pay with Dollars.

Happy hunting!

Jack.

 

One year ago the Australian Dollar bought 1.1 US dollars. Now it buys about 0.73!! It means I won't be buying any cars on Friday but it does mean any car sold here looks much better value in the US. I'm sure the cycle will continue but this in itself will not crash the market unless that was all that was driving the Maserati market. Interesting times!
I should have spent even bigger at MIE and Maseratisource!
Julian

 

$1.057 today. tick tok, tick tok.
A bowel of Pasta carbonara just got cheaper. (if you are paying in dollars)
FGM

 

Good for American shoppers or those holding U.S. dollars. Bad for American companies who produce in America and sell abroad.

Also bad for Real Estate, 40% of the Southern California market was foreign buyers, led by Canadians, Chinese and European buyers. Those buyers will disappear now. Even worse to grab U.S. cash they might begin to sell these assets.

The negatives out weigh the positives.

 

Not really it is all cyclical, US buyers be there to buy up the bargains and may start buying up cheap real estate in Europe. Beach Front in Southern Italy anyone?

 

good news indeed

 

Hi all,

I'm living in Europe.
This huge change in the € / $ ratio is a blessing for you guys living in the USA.
For us, in Europe, it's not so good because it's much easier to find decent quality Maserati reproduction parts in the USA than in Europe ! MIE / Maseratisource used to be good, reliable, "affordable" sources because of the currency exchange rate..
We've no "large" parts supplier equivalent located in Europe, and the italian ones are hugely expensive.

Guess it's (good) time for you, US citizens to come in Europe, spend some time wandering in the countryside in France, Belgium, Italy... and buy the best available cars...
And we are still enduring the economy crash, so it still exists many opportunities to buy very cheap "project" or "barn find" cars because a lot of people desperatly needs cash.

 

Foreign real estate is a poor investment when you are using the reserve currency to buy it. You'll never get the money back. Foreign real estate for an American is a really bad investment idea.

The problem for the U.S now is deflation. The cycle is headed for another crisis. Bigger problem is Americans have nowhere to go. Actually they will likely flee to the over hyped area known as gold.

 

Wow....
Talk about impressive.
I vehemently disagree with EACH and EVERY sentence above.

Regards.

 

The economic data suggest the U.S, is headed for a deflationary collapse. The only data that looks semi positive is un-employment, a number that can be grossly manipulated. Now is just like 07, but even worse, the fed has no ammo left and Americans have no safe place to flee into, except gold.

By the end of the year we will see a catastrophic stock and real estate crash.

 

Agreed the cars will now travel west. The freight companies should enjoy this.


So far the Amelia island RM auction is more than strong ….many records being broke

 

I can tell you that Southern California is on the mend, traffic on the freeways has become a nightmare, my chrome shop is dicking me around (to much customer work) and my bodymen are becoming undependable,( they work at other shops that are now busy) It has all the feeling of 2007 just before things tanked. That said, we didn't have 18 trillion in debt, so how things will play out in the next year is questionable, keep in mind babyboomers are dropping like flys, ten thousand a day according to the government, and every country in the world is printing, printing and more printing.....

 

hit 1.04 range. reality is setting in on the BS countries. a sudden lifting of car values is not good. but I was never interested in pricing. cars are not my income source. and discussing price is degrading. my opinion.

 

The AUD is down to 76c US from parity plus. Lots of cars flooded into Australia over two years and now they are going north and east to totaly different markets.
If you think the US and Europe are the only places buying cars , who are all those phone bidders....The Asian region are becoming a huge player in the "Car Commodity" market.

 

Sure is a Hugh amount of uncertainty. Toppy pricing on some at the Amilia auction. With So. Am. Greece-weighing on the Euro. And Asia slowing. The only thing saving this run up. So few cars compared to the money chasing.

 

Yeah, those were fun times. I spent the spring of 1985 studying in Rome. $1 topped out at 2,200lira. We lived like the Medici. Rented a rooftop apartment off the Campo di Fiori. Spent spring break on Capri. A 1l bottle of Bombay was $5, four course dinner at our favorite restaurant was all of $10, and the owner Bruno would plant a jar of grappa on our table to round out the evening. Don't recall auto prices.

We each have our own perceptions and outlooks. You're only as good as the actions you take based on your convictions.
- Art

 

Some interesting articles here

Classic cars were the best collectible investment in 2014
Classic cars were the best collectible investment in 2014

$99 million car auction draws mixed results
$99 million car auction draws mixed results.

 

That has to be the dumbest article. Overall sales are up, more cars sell, a few specialty cars are no sales and it's mixed results? Where is the logic.

 

It's the kind of article written by someone who knows nothing about cars or the classic car market. They highlight that the 1973 Carrera RS lightweight didn't sell (high bid of $900k) but they don't mention that the 1973 Carrera RS Touring (my car) sold at a record price of 843 Euro ($891k USD). But I guess that doesn't reek of sensationalism. As with every auction, there were surprises on both sides: high sales and no sales. Nothing new here. In fact, I thought that the auction showed that the market is going more robustly than I suspected.