Daniel5691

Last year, the average asking price for a run-of-the-mill 928 on the Louisville area Creepslist was about 9000, generally trending lower.
This year, there are 4 that have been parked on CL with an average asking price of 15,250.
Interesting.
Are you folks seeing similar trends?
Dan

XS29L9B

Usually, one places their ad, then the rest follow, thinking that's the bar. Little real research is done.

On the other hand, if you know your car, know your market, and know how to write and ad (and provide good pics), it's easy to sell something on CL. I just sold a car 2 most ago. Took 30 minutes. Okay, that's an exaggeration. Maybe 28 minutes... First one bought it.

SwayBar

The question is too vague, need the year of the cars.

SteveG

What is your question? Are the cars you are watching fairly priced? They must not be. The market is rising. Evidently they are priced high and not in a hurry to sell. There is a GT3 in the member to member list. He has what look like stock photos. There are 4, no engine, no interior. I don't think he is serious about selling. The 928 is a slim market, doesn't matter if it is rising or falling. There are dos and don't about how to list a car.

Captain_Slow

Did you include a pair of Daisy Dukes? That car would sell in 8 minutes.

Adamant1971

Captain_Slow

According to Hagerty the 928 has been "fully priced" for the past year, with fewer policies being written for the 928 (cars may still be selling but buyers possibly finding cheaper insurance with other companies). Some markets in the interior lagged behind the coasts during the period when values were rising quickly. If the value trend is flat it may take some markets awhile to respond. I attended my first Katie's C&C of 2018 yesterday. There were folks who were interested in my car, but it was different than last year. Last year I met people who were expressing regret they hadn't bought one before the value run up and stating they wanted to buy one. Yesterday people were seasoned car people, knowledgable, and just interested in talking about and appreciating the car (which was actually more enjoyable).

icsamerica

I own quite a few classics and follow the market of many others. There was a rising tide that lifted all boats and it peaked about 9 months ago.

We're at the end of the cycle where high prices lead to fewer and fewer transactions as only the best and most rare examples command a premium. Most of the ideal examples have already changed hands with the sellers understanding that the market had popped ....they took the opportunity when it presented itself. Many of these recent buyers who bought classics and paid top dollar over the last 2 years believe they have a rapidly appreciating asset and therefore see no reason to resell. So the market thins and grinds to a halt because of a combination of high prices & low availability of quality examples.


9 months ago it was tax cut euphoria and a combination of low interest rates and a good stock market and general confidence in the economy that fed a bubble in the classic car market that made its was down to many models that were prevoisly under appreciated. Many of those positive factors have waned. Interest rates have gone up, stock market has come off its highs and some of the benefits of the tax cuts are being eaten up by higher Gasoline and energy prices.

Because of rising energy prices with rising interest rates, a range bound stock market and political uncertainty there is little upside left
from here...not only for classic cars but perhaps other assets as well. As I see it, the most likely scenario is we bump along, kind of range bound until the party ends, that could take years.

OTR18WHEELER

with the keys to the executive washroom.

GregBBRD

I haven't seen a slowdown, at all.

I've still got clients paying top dollars for cars and then having me make them mechanically perfect. ...

​​​​​​.......Record amounts of them.

It's actually pretty smart....The replacement pieces are getting thin....fix up the neglected while you can.