Never Stop Driving #28: The $50,000 Beetle
Car people, me included, can be a tiresome lot. We’ll gleefully debate the merits of a tappet versus a roller cam, recite 0-60 times for days, and revel in our insider’s jargon. Worst of all, many of us feel the need to claim that we make money at our hobby.
I’m not talking about professionals who actually take their paychecks from trading cars, I’m talking about casual car fans who brag how much money they made on their last flip. At my local cars and coffee, I hear a lot of car-trading boasts. While I’m convinced that at least half of these stories are total bull, I’m perplexed why so many car owners feel the need to even tell them. Status in the car community is somehow tied to financial prowess rather than enthusiasm, discernment, and knowledge. I don’t get it.
One of the best lines I stole from McKeel Hagerty, and there have been many, is this: “I buy high and sell low.” My cars are a hobby and they cost money, just like golf. I’ve sold a few cars for more than I paid, but with a full accounting that includes parts and my labor, they were losers. Who cares? I buy high and if that makes me the fool to others, fine. I had a great time and at least I’m honest.
So I felt a kinship with the man who recently paid $51,000 for a 1977 Volkswagen Beetle, which we featured in our sale of the week. Oh, boy, did some commenters weigh in about the price. The VW buyer responded with a wonderfully thoughtful essay that explained his passion. Reading it, I felt sad that the naysayers couldn’t see past the price and help the man celebrate that he bought something he loved. “I liked this car and had the money,” said the Beetle buyer, “so I bought it.” Amen, brother. Enjoy it.
Yes, I must admit that Hagerty Media almost always talks about prices when discussing cars. We even do an annual list that predicts which cars will go up in value. Are we then part of the problem?
Our philosophy is that most of us don’t have infinite funds, so we all need to be smart with our money. We provide resources to help, like Hagerty Valuation Tools and Hagerty Insider, a website dedicated to the market. There’s even a new weekly podcast called No Reserve. We also believe that more information invites more people to join us.
As for our predictive list, Bull Market, we started it five years ago to show just how inexpensive the car hobby can be. Those are cars that you can buy, enjoy for a few years, and then sell for about, or perhaps a little more than, what you paid. We always advise people to buy what they love and then they’ll never be disappointed.
My new love is a modified Datsun 240Z that our own Henry Catchpole featured in his latest video. Sadly, those machines are out of financial reach, which means I might have to set my sights on a…..Fiero. You probably think you know everything about that mid-engine Pontiac, but I promise you’ll learn much more, and laugh, while watching Jason Cammisa’s latest video on the plastic two-seater.
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Thank you Larry! I thought I was the only one left that collected for the joy of what I collected and not the investment value. It seems that the only thing I hear these days is about value. The real interest can be in the stories some of these vehicles can tell.
I hear people say “I won it at an auction” referring to their car. I too got my car from an auction, but I didn’t WIN anything. I was just willing to pay more for the car than anyone else in the room.
A car’s actual value is not the same to all buyers. If I had the money that 77 beetle might have cost
“armchair” $52,000.
Selling a car at a profit is all about the personal win after a lifetime of depreciation and losses. Anyone care to sit down with a calculator and add up the lifetime cumulative depreciation of all the cars you’ve ever owned? Every car owner is Santiago from “The Old Man and the Sea.” Our trophies are made weak by time and fate and sharks in the guise of bluebook value based car insurance, flattened engine mounts, deferred maintenance, time and fate. Can people have a little empathy, sympathy, and human love and share our excitement if we sell a Jaguar XJ6 we bought for $3,800 and sold for $6,250 and fail to mention the registration and licensing, shipping coming and going, and consignment fees as well as the $1,200 dollar rebuilt ABS unit, additional soldering for the module and a few Jaguar bespoke exhaust tubes and fixtures?
British racing green. The interior smelled amazing.
Larry, although I started out with VWs (61 bus then 66 bug) I have been meaning to comment on your M cars post of a couple weeks ago. As a longtime bimmer fanatic (48 year BMWCCA member) and current 95 E36 M3 S50 owner, I was happy to see the praise that this particular model deserves and usually no longer gets. Having owned many 2002s and 5ers through the years I have appreciated the simple, pure driving experience pleasure that these chassis provide which I feel is epitomized in the E36; a nice blend of old school and simple modern that has been somewhat compromised in the newer and current more complicated models, IMHO. I like to describe the feeling of getting in and driving this vehicle as “wearing it”, like a hand in a glove, becoming one with the machine. I couldn’t agree with you more that it’s a keeper and have been enjoying your writing here and in the magazine all along. And please tell Jason that while the headliner may be flapping in the sunroof’s breeze, I don’t have to keep re-closing my glove box door….yet!!
LOVED this latest article!
Keep it up.
Thanks for it too!
Larry, greetings from New Zealand! Have only been following your newsletter for a short time, but they are always interesting – and I usually agree with your comments. I am the Editor of the Bay of Plenty Vintage Car Club monthly magazine, and would like to insert some of your copy into the magazine (properly accredited of course) or direct our Member’s to your site. Is that OK with you?
Larry
You note, wisely, that we cannot afford all the cars of our dreams. Well we all can . . . a bit.
Thanks to high quality diecast models, in addition to my full size 2002 Lexus SC 430, I have 1/18 scale replicas of the first car I loved as a child (MGB Mk 1), the car in which my father taught me to drive (1965 Mustang), my current love (2002 Lexus SC) so I can feel the spirit move me even as snow beats against our windowpanes, and finally a ‘dream on’ roadster (Jaguar E-Type Series 1).
Who knows where my dreams may take me next year?
Hi Larry, well I guess like so many other things in life, where you place the mix of present/future valuation versus enjoyment falls along a spectrum. This dovetails nicely with what one values more juxtaposed to the other.
There will always be ranges. The only unfortunate aspect, is that those who place a higher value on driving and enjoying, May never or rarely get the opportunity to experience what driving and enjoying a six or seven figure machine may offer. My guess though is that this same out of reach experience can probably be found in a more modern and less pricey alternative.