7 Cars That Lost the Most Coin This Summer
We updated the Hagerty Price Guide last month, and “soft” is a word that keeps coming up. Most of our collector car indexes are down year-over-year, and some vehicles shed as much as 18 percent of their value. We’ve already highlighted some of the cars that lost the most in percentage terms, but below are some of the high-dollar classics that dropped the most in pure dollar terms. The bigger they are, the harder they fall, and all that.
As always, if you have questions about how we arrived at these changes, you can read more about the methodology behind the Hagerty Price Guide here.
1965–70 Aston Martin DB6 Vantage Coupe
Condition #2 decrease: -$58,900 (-11 percent)
Visually similar to the DB5 that came before it, the DB6 added four inches of wheelbase and a slightly higher roofline, resulting in a roomier Aston. The side profile also changed with the DB6’s Kammback tail and upward flourish at the very back. Mechanically the DB6 is largely the same, with the Tadek Marek-designed 4.0-liter six mated to either a ZF five-speed manual or Borg-Warner three-speed auto. In base form the triple SU-carbureted DB6 is rated at 282 horsepower, while the hot DB6 to have was the Vantage version, in which the triple Weber-fed engine makes 325 hp. British magazine Motor called the DB6 Vantage “a very Grand Tourer” that “makes the overall speed limit of 70 mph look ridiculous.”
In the DB6 value hierarchy, the ultra-rare Vantage convertibles and base model convertibles are worth the most, each coming in at over $1M in excellent condition. Coupes, even Vantages, are worth less than half as much, and while all DB6s got cheaper this past quarter, Vantage coupes sank the most. Weak sales, including a high number of cars in mediocre condition hitting the auction market over the past few years, have kept DB6 prices soft.
1973–75 BMW 3.0CSL Batmobile
Condition #2 decrease: -$86,700 (-18 percent)
Launched in 1972, the 3.0 CSL improved upon BMW’s already solid E9 platform with lighter weight and more power, and nearly 1300 were built to homologate it for European Touring Car Championship racing. A lighter body, less trim, and Perspex side windows dropped weight. In 1973, things improved further with a bump in displacement to 3.2 liters and an aero package with a massive air dam, an even bigger rear wing, a small roof spoiler, and fins along the front fenders. BMW didn’t call this version the “Batmobile,” but the nickname has stuck with the car ever since.
BMW also didn’t sell this car in the U.S., but American Bimmer-heads have lusted after it for long enough that a decent number of them have made it to this side of the Atlantic. And, as classic BMW prices in general have appreciated significantly during the 2010s and 2020s, so has the Batmobile. From 2013-23, the condition #2 value of this car essentially tripled. Last year, however, was the peak, and sale prices have been soft. Since then, #2 values have sunk by 27 percent.
1955–57 Mercedes-Benz 300Sc Cabriolet
Condition #2 decrease: -$87,000 (-11 percent)
Part of the W188 generation of Mercedes-Benz, the 300Sc is quite rare with 98 coupes, 49 Cabriolet As, and 53 roadsters built. They are magnificent hand-built cars that retain some of that prewar coach-built streamlined elegance, but combine it with advanced postwar features like independent suspension and a fuel-injected engine similar to the one found in Mercedes’ 300SL sports car. In fact, a 300Sc actually cost more than a 300SL when both cars were new.
Not so now. In fact, 300Sc prices have been consistently dropping for nearly a decade, and two recent sales for the rare cabriolet models don’t show that trend reversing. A solid example sold this summer for $582,500, which is under its condition #4 (“fair”) value, and another brought even less at £368,000 ($477,885).
1963–64 Alfa Romeo TZ-1
Condition #2 decrease: -$150,000 (-9 percent)
Alfa Romeo’s racing successor to the Giulietta Sprint Zagato (SZ), the Tubolare Zagato (TZ) features a lightweight tube (tubolare) frame and an aluminum body by, you guessed it, Zagato. These days, people refer to it as the TZ-1 to distinguish it from the much rarer fiberglass-bodied TZ-2 that replaced it. Its distinctive Kamm tail (the Italians call it a coda tronca, or “shortened tail”) and curvy shape make it gorgeous, and it truly is light, weighing in at under 1500 pounds. TZ-1s were highly competitive in their class in the great sports car races of the day, and Alfa Romeo built just 112 of them.
With cars this rare, individual sales can swing price guide numbers significantly. Although prices high-end 1960s sports cars in general were soft this past quarter, one auction result for a TZ-1 made the case for dropping this Italian favorite’s value by six figures. An aged but good car in #3+ condition sold in Monterey back in August for $819,000. While 819 grand is a lot of money, it’s well under the car’s $1M presale estimate, and less than the TZ-1’s condition #4 value in our Price Guide.
1960–63 Aston Martin DB4 GT
Condition #2 decrease: -$450,000 (-14 percent)
Introduced in late 1959, the same year Aston Martin won overall at Le Mans, the DB4 GT is shorter, lighter, and more powerful than the standard DB4. Its wheelbase is about five inches shorter, its body made of thinner-gauge aluminum, and its engine tweaked with higher compression, twin-plug ignition, and three Weber carburetors to bump power from 240 to 302 hp. Visually, the DB4 GT is most distinguishable by its handsome faired-in, covered headlights, a feature Aston Martin later adopted on the DB4 Vantage and the DB5. Other details include quick-release fuel fillers for the large fuel tank and Borrani wire wheels.
DB4 GTs mixed it up on track with Ferrari 250 TdFs and SWBs (more about those below) and had considerable success. Aston Martin built 75 of them, and 19 more received lighter, curvier bodywork from Zagato in Italy.
Like the Alfa TZ, this is another scarcely seen ’60s sports car, and sometimes just one sale can precede a big price swing. One such sale happened in Monterey back in August, where a DB4 GT in #2- condition sold for $2.1M, which was condition #3- money, or about half a million less, at the time.
1956–59 Ferrari 250 GT Tour de France
Condition #2 decrease: -$700,000 (-11 percent)
Ferrari won the Tour de France automobile race eight times between 1951 and 1964, and the company even nicknamed the long wheelbase, competition version of its 250 GT the “Tour de France” (TdF) after it won the event in 1956.
TdFs are among the most valuable and sought after of all classic Ferraris, so when their prices drop, a lot of dollars (700K of them, in this case) are shed. Vintage Ferraris in general had a tough go of it this past quarter. A TdF posted a soft $5.2M in Monterey, and Hagerty’s Ferrari index saw its biggest drop in over four years.
1959–63 Ferrari 250 GT SWB
Condition #2 decrease: -$800,000 (-10 percent)
The 250 GT SWB (Short Wheelbase) is an evolution of the successful 250 GT TdF and the predecessor of the famous 250 GTO, as well as a highly successful racing car in its own right. It has long been one of the most valuable classic cars in the world, and alloy-bodied examples can sell for eight figures. Given the soft market for 1950s and 1960s Ferraris this past quarter, though, the most valuable ones were bound to drop along with the rest of them.
I think the prices of 1970 Aston Martin DBS has also dropped down a lot.
I feel sorry for the rich people who can afford those cars. They’re all out of my league. Everything is over priced now days.
yes, and some people think they have the Holy Grailin what they want to sell. I am seeing Mustangs builders that are in such bad shape they need a crusher. Floors gone, no drivetrains,broken glass andrust everywhere. Some with no front clips at all, and folks asking thousands for them SMH. For the prices some are asking you could and would be better off buying a already restored car
Not in it for the money, just fun and memories. I’ll stick with my 72 Ranchero thank you very much. Only problem is, is finding parts for it.
I have heard that a bunch of parts can be made with a 3D printer.
Just a thought.
Tried to buy a very restorable ’66 Charger, 383, Auto that was in a farmers field in Upstate NY in the mid ’80s. I was one of many that were intersted in it. He thought he had that holy grail and was asking stupid money for it, try to tell him a mint Hemi model didn’t go for that kinda money and he’d dismiss you with a backhand wave. Long story short, I watched it slowly sink in the mud and deteriorate as the years went on. He died and his heir had it yanked out and sold for a couple hundred dollars as a parts car.
He just liked having something others wanted.Lot of people like that
You’re always better off buying a restored car, provided it’s been properly restored. Lipstick on a pig need not apply.
REALLY??!! You feel sorry for the rich people who have nothing better to do with their money than spend it on hugely overpriced cars? I wonder if they also give to worthy charities?!
many believe charity begins at home
Built in predetermined class envy. You don’t even know who you’re jealous of.
Smart Marvin
I think the market adjusts and when prices (like these) get out of control the demand for them drops along with the prices. Also, you can’t easily find knowledgeable mechanics and parts for some of these unless you live near a big city. So…if you actually drive some of the higher-priced cars in this article, you are also spending a great deal to maintain them. I’ll stick with my GTO.
Wise decision!
I completely agree with you.
American 60’s muscle cars are the only way to go.
Parts are readily available and you can usually repair them yourself. I have a 95 RR.
Even though I do all my own work the price of parts is insane. I should have bought a 66 Corvette.
My neighbor HAD a Bentley, took it in for an oil change and was tagged with a $1,200.00 bill
The oil filter is a spin off like any other American car. The oil drains the same way, except it’s an eight quart sump.
You figure it out.
Anybody who doesn’t check the price of recommended services for these cars before okaying with a repair shop deserves what they get. Just sayin’.
May be a case of, “While we’re in there.”
You can’t figure it out? Try this for perspective:
We purchased a house in a fancy city that I moved to in 1972 when there was no one there. We paid a bit over $230,000 in 1994 for a house that had been built in 1968 for $51,000. It went up in value so that today it is worth a bit over $1,600,000.
Now, what do you think vendors charge when they come out for a quote?
“These people are billionaires, so their quote just went up 1000%.”
Never fails.
Cheers!
Keep in mind regarding real estate that the value is usually in the land underneath the house, especially in a highly desirable location. Houses will depreciate like everything else (unless it’s a Frank Lloyd Wright) so enjoy your equity!
yes, I had “high ceilings, 16 feet in Scottsdale AZ”. the plumber would come in the front door, look up and you could see his eyes starting to spin like a slot machine and all of the sudden to replace a hot water heater that USED to cost 600 bucks in about 2008 went up to 2 grand.
“Goodbye” I said.
Yes!! We live on a lake and get that “extra’ pricing regularly. We refer to it as “the Lake Effect”. We were getting quotes for a tankless water heater. Local guy came in at $3800, next were 3 Manufacturer recommended installers: $4800, $5000 and the kicker was $7800, but he would cut us a deal for $6000.
I love it when people complain about their contractor who charges ridiculous prices but you never hear the same people talk about their accountant, attorney or insurance agent in the same way. Is it professional courtesy or a lack of respect for the skills.
Worse than that, it’s so often people who either are not willing or are not able to do the work themselves, and often do not understand how the quote works. Equipment prices are out of my hands and I don’t work for free just because you bought your house a long time ago.
If the price is the only thing you care about in that transaction you are likely the problem.
Randy,
I think you missed the point. The estimates were all over the place and that overpriced high bid was probably using the same “materials” as the other folks. That’s what you call price gouging.
Those other “trades” bill by the hour, which you know up front. So, what you’re paying is really based on time. And, I’ve never known attorneys or accountants to have prices that differ by as much as the ones in the example.
I got tired of my American muscle car..Not one of the big 3, but a very fast (In a 1/4 mile) 1965 Falcon Sprint, Pro Street. 347 stroker, top loader 4 speed, yada, yada, yada. Car shows, trophies, ‘wasted weekends’ became boring. My yard went to hell in a hand basket, and small repairs to the house went ignored. BAH! Took me close to a year to get everything back in order.
Now, wife and I hop in our C6 Corvette and go for a drive, ending who knows where. Much more fun. Have met an entirely different group of people. Was (And still is) entertaining in a much different way than car shows.!
I bought a 65 ford farelane 500 project 2 years ago.1 year style.Should of bought one already done cause parts are so hard to get.Its coming along and at least I know what I got.I didn’t but it sale or make money off of it.I bought it to drive.Good thing haha.
We have a C6 Corvette also. Cars we’ve had in the past were always a labor of love and now at 79 years old the love is gone. The Corvette makes me feel 18 whenever we go for a drive and drive it!
That does it! I’m buying a C-6 Corvette so I can feel 18 again!!!
re Corvettes. Heartily agree, I used to fool around with Porsches, etc but ditched them all for old Brit roadsters and ’58 to ’67 Corvettes- can open a catalog and order every single part for Corvettes and have them on my door 5 days later.
Somebody has got topay for the white gloves and starched shop coat.
Values of all used vehicles are tanking, especially if comparing to pandemic-levels. My own vehicles have dropped by 40% in 3 years. That’s life.
Wow. Mike That seriously sucks. What was hot, and like to think still is, for my (our?) generation and what the Millennials get excited about, is tricky to gauge. “Collectibles” nowadays a crap shoot. Only good news is we can continue to enjoy our beautiful vehicles.
I suspect that most (although not all) Hagerty customers and prospective customers will find this article meaningless due to the obscurity and Euro-centricity of the cars presented.
Spot on. My 60s muscle car continues to appreciate – based on unsolicited offers made to me regularly.
My observations after 5+ decades in the muscle car and vintage American sports car business and collectability are the same as yours. Just look at Corvettes and MoPar high performance vehicles not to menton Shelby’s and limited edition GM products.
OK, I am going to be the one who disagrees with this. Yes, 60s muscle cars have lots of advantages, including good parts supply, knowledgable mechanics exist, and they are easy to work on. Furthermore, they are big and powerful enough to cruise in modern traffic. However, having said all that, I say their values have peaked and most will be coming down soon. Let’s face it, there are a lot of them out there, and they are pretty darn crude (handling and brakes) compared to what young people are now used to.
You have a valid point. I spent $5k to make my 55 wagon handle and brake good. Not to metion 6k to updated drive train. I just want to hand down a cool car to my grandson so he will always remember Papa.
Exactly what I have in mind for my 77 Monte Carlo and 65 farelane.when it’s not about resale profit the markets not really that important.
Isn’t it a FAIRLANE?
You are absolutely right.
While I’m not sure that 60’s muscle cars have already peaked, I do believe there is a dead end coming for the value of them. Anyone who thinks that muscle and other cars from the 60’s will continue to go up in value forever are just fooling themselves.
I’m 70 and I grew up playing with antique cars. I restored my first car, a 1914 Model T Ford in 1969 at 15, so I’ve seen how the market has grown and changed. Model A Ford’s are selling for the same kind of money today that they sold for 30+ years ago, or less….if you can find a buyer.
The collector car market has always been primarily driven by nostalgia. When people get a little older and have more free time and disposable income, they want to have that car they couldn’t afford when it was new. But once those people who have that nostalgia die off or just get to old to play with cars, the generations that come along behind them don’t have that same nostalgic connection to the cars, so they don’t value those cars as much. This is why street rods bring more money than restored 32 Fords and restomod 67 Corvettes sell for more than restored cars now. Without the nostalgia for the cars, there’s no desire to pay for originality. Just like how some rare cars like Dusenbergs have held their value, some high end cars like Ferrari’s will hold up well, but the vast majority of collector cars will at some point start to see their value decline.
Agreed. There has to be some sort of connection, usually in the form of nostalgia, to be interested in a particular car. The one exception might be a group of cars that maintain interest because they were the last wave before the era of plastics and complex electronics.
Demographics,
Only the very rare will hold value.
I am one of those (84) who bought what excited me in my youth and could not afford. Did not buy for investment- won/lost
Muscle cars are great and easier to maintain but some of those overpriced, less reliable imports just have a different soul
I totally agree with you , you hit the nail on the head. I have been
into the automotive sector for along time. Both collecting, building, and racing.
Cars such as Dusenberg, Voison, Delahaye are museum pieces, and almost all are in museums. They will always hold their value. These cars exist in a different world to Ford Mustangs etc. The demand for 60s muscle cars is almost all nostalgia driven, and must eventually decline.
Saying 60’s muscle cars have peaked is naive thinking. It’s like saying housing has peaked. Everything will double in the next 12 years.
The “double” in US Dollars is due to overall inflation. Is a thing a good value at the new price? Is an ounce of silver at $29 in 2024 a better deal than $9 in 2007? I think so. I can’t make money buying and selling cars, because Im not a car dealer. But, I can spend LESS of my income overall on owning and driving cars, especially neat interesting older maybe-collectable cars, by being knowledgeable and doing most of my own work. 1995 Caprice 9C1 LT1 is still okay driver musclecar, having passed up $4000 toward a Kia Soul during “Cash 4 Clunkers” era. Leapng over speedbumps in a cruiser is better than hampstermobile.
Agree 100% I live in a small town on an island. Our local car show attracts about 500 cars each summer, mostly 50’s or 60’s American muscle cars, mostly owned by retired guys in their 70’s. Who will we sell them to? Most of our children still live in the city where they can barely afford rent, let alone a house with a garage. Besides, their nostalgia is for 90’s sports cars, rather than our ancient muscle cars.
Bran,
You are correct. I had a one owner 1971 Camaro SS that was my dream car when I bought it 53 years ago. My son has no interest in having that car, so I recently sold it to a local guy with a small collection of musclecars and used the money to get something I really wanted. I’m happy, my son’s happy and my wife doesn’t have to worry about selling it when I’m gone. A win-win-win.
Spot on sir. Human nature does not change.
When I was a teenager in the 70’s, 1930s era cars were the hot collectibles. Not many people want them today. Same thing is happening to the 60’s cars.
You are right on the money. It is the same with everything else like music. Nobody calls a radio station requesting music from the 30s. Because they are no longer with us.
Yes, the younger generation will not embrace these cars like their parents did. Just a fact. The muscle cars of today out perform them and are readily available. The Japanese cars of the 90’s and 2000’s are also desired by their generation as well. I know quite a few 30 something gearheads and they are just not interested. Another issue they tell me is the way they are treated by the “boomers” as they call them at local cars and coffee/car shows. A lot of disrespect for what these younger people like. Nostalgia drives all this stuff and as we age it’s just natural that what one group thinks is cool or desirable is not always the case with the next generation. Enjoy what you have and don’t get to caught up in what monetary value your favorite car is worth.
Agree about the generational preferences in cars and motorcycles.
You don’t see 20 somethings driving Harleys. They’d rather lay forward on a Ducati and drive down the highway on the back wheel!
Yep!
Not only that the younger generation have NO interest in antiques. Who could afford them? They have MORE interest in a 25 year old Civic or Diesel pickups. Like it or not. Your family only wants your antiques to sell. It is a common occurrence in my area. Lost numerous friends lately and that’s the new theme. Times are a changing.
1000% percent this. The ignorance of vintage domestic car collectors in the United States never ceases to amaze me. I am 57 years old. I like the old Detroit Iron but my 25 year old son has ZERO interest in what I call “the Chrome Cars”. He couldn’t give a crud about a 57′ Chevy or some crappy Olds-Ma-Buick Grand National GNX when a right-hand-drive Nissan R34 GTR or engine swapped BMW E30 325is is in front of him. His generation is certainly not focused on cars of his elders past and that fact will begin to show as we march forward. They want the cars of their youth… the Toyota 2JZ Surpa’s and Mazda ND RX-7 are their focus. Granted, “the classics will always be classics” and cars like vintage Jaguar E-Types and C2 Corvettes will always have some draw, but many will simply stagnate into the history of collecting. All you have to do is look at the Ford Model A/T community or even the Mercedes SS and SSK cars that, in the 80’s, were the darlings of the car collecting world. They are now just a distant memory in the minds of most moderate and hardcore collectors. I myself gravitate towards Group A/B/4 European rally cars but even My Renault R5 Turbo, Lancia Stratos and Mitusbishi Pajero Evolution fail to make my son raise an eyebrow and who could blame him. These 70’s, 80’s and 90’s icons are not cars from his youth and they themselves will eventually fall flat in the collector marketplace.
OK Mitsubishi Pagero EVO and R5 Turbo? Hell you have my attention!
And when Dodge builds an EV Charger with speakers that emit V8 exhaust notes…it just makes the real deal 60s Muscle car that much more desirable.
Until you drive them. Or should I say- sail them. 🙂
Yeah, I’m nostalgic for those drum brakes, especially when it rains and one grabs. 😳
Curtis,
No it doesn’t, just ask a 30-something. Maybe they’re desirable to you, but not to the younger generation.
Unsolicited offers often have no reality of $$$$ in hand. Reality is going to the bank!
Spot on.
This sounds like we are desperate for something to write about. Not a car on here most car guys would have any interest.
Quirky Euro cars are not a staple car diet. IMHO. American Iron fist bump!!
“We”? Do you write for Hagerty? I couldn’t find any articles by you when I searched.
Agree 100%
I found the article interesting because if the prices of these cars drop by another 90%, I might start shopping for one of them.
Not a lie
I agree
Totally agree.
💯 agree with you.
It is interesting to see what the super wealthy are investing in, but I’ll stick with American muscle cars.
Exactly my thoughts. My guess is that most that receive these articles don’t care about exotic, extremely expensive cars. One more article like this and I’ll just slide by and look elsewhere for articles about good cars that the average guy can afford and enjoy. Like my 1949 Chevy Master Deluxe steer rod. 400 hp, pristine paint and interior. A joy to drive.
Whole-heartedly agree with Andy. The cars in this article are completely meaningless and irrelevant to most of us who are reading this. I was expecting some American cars that were affected. I’m enjoying my restored 1982 Z28 Camaro and currently restoring my 1966 Ford F100 Flareside.
I’m 76 and drive a 1986 IROC to coffee and cars. Lots of the younger drivers of foreign cars like the Camaro.
Damn straight.
Prices drop. They are an economic measurement. Values do not drop – they are intrinsic to us as enthusiasts.
vehicles of this caliber tend to be more of an investment, like stocks, than for the vehicle itself. also consider the domestic economy as a whole usually dips prior to the presidential election. it usually bounces back, more or less, to pre-election year gnp levels regardless who gets in office. and this is one of the main reasons i decided to wait till next spring to put one of my collector cars on the market.
I agree with you and Brakeservo. You are only two posts who mentioned the word “economy”, which probably had a lot to do with driving the market, not to mention the election.
Now I can afford one of of the models…..hah!
$800k drop only a 10% drop. Now I can afford it? Nope. So cars with huge tags took a roughly 10% drop which in reality changes the cars form very pricey to well very pricey. None of these are in my price bracket.
Oh come on. how many of us really have that kind of money, to spend on a car? those cars cost more than the house I live in
I’m glad I don’t run with this crowd. I can’t even afford to buy them a round of coffee.
BUY AMERICAN!! 🇺🇸
I doubt the people who own these cars even read this article.
Exactly.
I doubt the smart people who wrote this article read your dumb comment.
I wonder how much of it has to do with demographics. IIRC V16 cadillacs and similar went through significant declines during the GFC but did not recover the way prime late 60s muscle cars did because frankly the people that were interested in them were dying off. I see the same thing setting up at what we call the “old guy folding chair” carshows….guys with oxygen tanks that have t buckets or early 413 chrysler powered cars that no 40 year old wants anything to do with; while at the same time you can’t buy any 911 at all no matter how doggy to save your life.
Since 95% + of your customers cannot and will never be able to afford any of these cars, beautiful as they may be. this becomes just one more meaningless Hagerty article. The vehicles listed are just investments in the same way as stocks, real estate, etc and the number of people who own any of them and actually drive them can likely be counted on one hand…
Amen! One of the reasons I have always collected older 1950’s and early ’60s Volkswagens. I’m amused when they go up in value ocassionally, but even if they tanked, I’d still stay neck-deep in my hobby! Got eight of ’em currently… Bill
I agree. After scrolling through the list, I was disappointed by what I saw. I was expecting to see some American mid-century classics.
You wanted to see a list of “losers” full of mid-century American cars?
Hoping!
It’s amazing that a random commenter has more information about what/who Hagerty customers are or are interested in than the massive company that harvests data from every person who interacts with them. yeah, they have no idea what their readers want to read. You should run the place.
I was autocrossing in my 97 BMW M3, enjoying my time with true beer budget enthusiasts. Then this older gentleman pulls up with his purchased new from a dealer 427 Cobra. It looked new. Apparently drove it regularly. To each their own. Personally, I would bank at least a million, then buy 4 or 5 dream cars, way more fun and less stressful.
I see this a lot, with homes, cars, watches, wine, art, any kind of expensive stuff. the market goes naturally at first, matures because it has found its natural value and pricing, then the BS hype train comes in, comprised of pundits, journos, youtubers and such saying “investment” Investment investment. Cars, wine, watches are luxury items- Luxury means you don’t need it.
That’s what everyone is forgetting. Being able to afford the “Luxuries” means disposable income, NOT nest egg savings, not savings. Affording luxury items means not giving a F* if it goes up or down, that’s not why you bought it. Too many people piled in, rich people that are not really that rich, meaning if your credit line gets a bit tight or you lose your job, and you have to start selling off your luxury items means that you should have waited until you were more rich.
I am so sick of idiots piling into cars, watches and stupid stuff justifying it as an investment, or “flipping culture”. The margins are too narrow to make money, and idiots don’t do analysis like pros do when they buy investments (stocks, bonds, commercial real estate).
I love mechanical stuff so I am into cars, watches, bicycles, tools, etc. I have tried to buy my cars at the bottom of the depreciation curve (2008 Audi RS4 Cab, Porsche 911 Cab, BMW E39 M5) so I can afford to drive them and not lose a lot of money over the next 5-10 years. I have bought a lot of watches by buying what I live the looks of and trying to buy them right. I buy, fix up and sell older bicycles for fun. My main at 73 years old goal is to spend money on what I like, but to not have it tank in value so my kids have some inheritance.
Kids are almost always better off inheriting investment assets like marketable securities rather than watches, cars, etc. “Stuff” is much less liquid and has a wide range in values. And requires a lot of time and effort to sell. Plus the kids have to agree on a selling price, timing, etc. One item that the kids might like is probably enough.
+1. Ask the kids what they want. Some might want a cool vintage driver in great shape, others might think paying off college debt is a better plan. Eliminate the rip-off factor that comes with inherited exotic assets that need a lot of knowledge/experience (and time!) to sell or trade for the most value.
Don’t forget things that tend to maximum liquidity when the market for “luxury” items drop 90+%:
Local currency (non-hyperinflation), gold and silver coins (minted by your country mint, if possible, other sovereign if not) will either HOLD value, giving you the ability to NOT SELL the luxury stuff that has dropped, and/or go up in buying power vs. Paper assets and/or Wages.
Balance is they key. Some Dollars (bank digits, and paper currency), Some precious metals at home (secured, hidden, absolute silence about existence), Some speculative issues (stocks, bonds, commodities, through a broker), some desirable useful portable items (watches, cameras, books, art, collectables, etc.) that might need a safe or lockbox, collectable vehicles you have time for, want, need, and can afford to store insured & indoors. Things go up and down in estimated value, but maintenance costs are unending. In a bubble expansion assets and associated debt goes up in currency terms and everyone is cool, feeling wealthy, but when a bubble bursts, the assets vaporize while debt remains.
GenZ believes that Honda Spree 49cc scooter is collectable, and so it is!
Have 5% in cash and 10% in precious metal coin. Winter is coming.
I think it would be relevant and interesting to learn how cars in the enthusiast price range of $25 – $100k are trending.
Hell, how about $10-50k, for the “minimum wage” car guy. Lot of them out there.
In February, I bought a 68 Shelby GT500 for 110,000 in Iowa, sending an appraiser to look at it because I know nothing about classic cars. I financed it through Woodside credit. My payments are $1100 a month for 12 years at 9% now I know how those cars sell for 100,000 Woodside credit is their best friend. i’m paying off the car December 1. Glad I bought it. It opened up a whole New World to me. I’m 67 and old cars and old guys go together my car and I have done three car shows and we have 13 people choice awards doesn’t drive very well lots of power, I know all its faults now and I don’t think I will sell it. Talk about hyper expensive cars. They just have bigger checkbooks they have the same feelings we do.
If you had kept the financing, those people choice awards would have cost almost $50k, but if folks feel the psychic rewards are worth it, then they should go for it. Just not me.
That’s us with our BMW!
Yes, please!