Cars We Drive!

Discussion in 'Fine Living, Home, Design & Auto' started by Bert1568, Jul 18, 2006.

  1. JayJay

    JayJay Senior member

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    I wish I had the skills to work on cars.
     


  2. Cary Grant

    Cary Grant Senior member

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    Both Top Gear and Fifth Gear have done features on this... buying the proper classic almost always greatly outpaces any other investment you could make.
     


  3. idfnl

    idfnl Senior member

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    This is true. With investing in cars, its meant for people that appreciate them. You also need proper storage facilities.
     


  4. Piobaire

    Piobaire Not left of center?

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    So basically, 99.999% of cars are depreciation machines. And I'm not sure if classic cars outpaced real estate in the 00s, internet stocks in the 90s, investment grade wines, etc. I would greatly hesitate about making such broad statements.


    I know a couple guys with actual investment grade cars and they could not give a shit about cars. They bought them with dotcom money when people were looking for off balance sheet investments. Investing is not "meant" for anyone in particular and that statement is just a reflection of your personal hubris. Also, I appreciate cars but still think they're categorically shitty investments.
     
    Last edited: Sep 15, 2013


  5. Cary Grant

    Cary Grant Senior member

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    Investing in classic cars is a gamble of course, but when you hit, they've been shown to always, by a % appreciate significantly. There are plenty of misses, especially when a person buys say, a barn find, does a total off-body resoration for $100,000 then discovers the specific car they had wasn't the exact one that will appreciate... But people were picking up early 60's Ferrari's as recentl;y as ten years ago for less than $100,000 that are now auctioning for north of $15,000,000.

    Until recently, my brother could pick up original condition 60's-70's muscle cars for a couple of grand and turn them for 3-5 times what he paid for them within two years. I say "recently" because as Barracudas etc have become the darlings of late, they're getting hard to find and the staring price is way up.

    Still, you can get very nice cars for $20,000 and roll then around to a few auctions like Mecum etc the same year and stand a very good chance at a double-digit % return.

    You can't look a 99% of new cars this way, of course. If you buy a new Audi S5 for $60k and put it away, it will probably be at least 30 years before it's worth that again. An RS will appreciate more. But neither would be a worthwhile investment in my lifetime in that sense as both are mass-market vehicles.

    As mentioned up the thread a bit- If you can afford a Pagani new... yeah, maybe it holds or grows in value a bit... but as a % it won't be that much.
     
    Last edited: Sep 15, 2013


  6. Piobaire

    Piobaire Not left of center?

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    Going to have to say 100k to 15 large is pretty sweet!

    I still think car investing is specious in general. I think it's like wine investing. Most wine (99.99%) is not investment grade, it's a gamble, it takes specialized knowledge, it's illiquid (excuse the pun), holding period is indeterminate, storage is a pain, etc. Are some people doing it and making some cash? Sure, but I know a guy that makes serious coin on buying and selling vintage cork screws and you're not going to convince me corkscrews are good investment vehicles (pun again).
     


  7. idfnl

    idfnl Senior member

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    These cars are also very popular in places like Japan and Dubai, you can flip them for big profits if you can tolerate the nightmare import process.

    You can probably get an early 80's trans am in the 10k range and put it away for 10 years, I'd expect it to double. Another one that might do well is a late 80's IROC Camaro.

    [​IMG]
     


  8. David23

    David23 Well-Known Member

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    Read an article last year or the year before that said these have never depreciated past the original MSRP. Value is on the way up the last couple of years.

    [​IMG]
     


  9. Find Finn

    Find Finn Senior member

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    That's the fun part. ;)
     


  10. Piobaire

    Piobaire Not left of center?

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    Both statements support my position on "investing" in cars.
     


  11. romphoneiu

    romphoneiu New Member

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    I understand the X3 has been cannibalising the sales of its larger brethren.
    [​IMG]
     
    Last edited: Sep 15, 2013


  12. TC (Houston)

    TC (Houston) Senior member

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    Thanks! The dealer? You'd be nuts to use the dealer for something like this, and I say that from personal experience. I have the receipt from the last time it was done 7 years ago and it was around $650 (including the battery). So figure about $1,000 in today's numbers, and you'd be lucky to have the car back in 2-3 days. From my indie mechanic, probably ~$400ish.


    Thanks! It was kind of fun but working on the Ferrari really stresses me out because you never know what sort of glitch you're going to run into once you tear into it. As soon as you start taking things apart it becomes very apparent that it was assembled by hand--a lot of improvisation to make things fit well. You have to make sure that the screws go back in the holes they came out of, nothing is uniform. That wine fridge houses the handful of really nice bottles that I don't plan to drink anytime soon. I have a 300 bottle room in the house that, unfortunately, is not yet climate controlled. The temp in that room can creep into the mid 70's in the summer, so I don't keep the collectibles in there.


    Thank god for the internet and ferrarichat.com. Before this morning I wasn't even sure where exactly the battery was located. LOL
     
    Last edited: Sep 16, 2013


  13. edmorel

    edmorel Quality Seller!! Dubiously Honored

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    Ferrari and Sears, a match made in heaven :)
     


  14. TC (Houston)

    TC (Houston) Senior member

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    It had better reviews than the Optima that it replaced, and was about 1/2 the price! :)
     


  15. edmorel

    edmorel Quality Seller!! Dubiously Honored

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    I do a similar thing. I use Vicuna floor mats on my Ford Escort.
     


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