Has the Market Topped Out?
-
- 356 Fan
- Posts: 236
- Joined: Thu Sep 16, 2010 12:32 pm
- Location: Boca Raton, FL
Has the Market Topped Out?
Seinfeld is selling some of his cars!!
http://flatsixes.com/cars/for-sale-cars ... ia-island/
Time to get out or time to cash out the 401k and/or kids college fund and buy???
Time will tell
Ray
http://flatsixes.com/cars/for-sale-cars ... ia-island/
Time to get out or time to cash out the 401k and/or kids college fund and buy???
Time will tell
Ray
- David Jones
- Classifieds Moderator
- Posts: 7341
- Joined: Tue Mar 25, 2008 6:32 pm
- Tag: I wish I knew as much as I think I know.
- Location: Kentucky
Re: Has the Market Topped Out?
Seinfeld does not need the money so it has nothing to do with the market. I really doubt it has topped out and as I bought my cars to enjoy, not as investments their net worth is incidental though personally appreciated. (good pun there)
If I had known I would live this long I would have pushed the envelope a little harder.
Cymru am byth
David Jones #9715
Cymru am byth
David Jones #9715
- Sebastian Gaeta
- 356 Fan
- Posts: 3055
- Joined: Tue Mar 25, 2008 5:50 pm
- Location: Ann Arbor, MI
Re: Has the Market Topped Out?
David,David Jones wrote:...I bought my cars to enjoy, not as investments their net worth is incidental though personally appreciated. (good pun there)
Remember the days when we had 2 to 3 times the money tied up in our cars than they were worth? We did not care because they joy they brought was priceless.
I find my friends and I discussing values now, but it is really just to keep up with how much they should be insured for. That is not to say we aren't unhappy about no longer being upside down.
Sebastian Gaeta
www.arbormotion.com
Registry #8339
'65 C coupe
'64 C cab
-------
2014 Boxster 981
2005 997 C2 Cab
1967 Karmann Ghia Convertible
1966 VW Single Cab
1966 Ducati Cafe Racer
1964 Karmann Ghia Coupe
1963 Beetle
www.arbormotion.com
Registry #8339
'65 C coupe
'64 C cab
-------
2014 Boxster 981
2005 997 C2 Cab
1967 Karmann Ghia Convertible
1966 VW Single Cab
1966 Ducati Cafe Racer
1964 Karmann Ghia Coupe
1963 Beetle
- David Jones
- Classifieds Moderator
- Posts: 7341
- Joined: Tue Mar 25, 2008 6:32 pm
- Tag: I wish I knew as much as I think I know.
- Location: Kentucky
Re: Has the Market Topped Out?
Sebastien, I have been in the fortunate position of never being upside down as it were with my cars and yes I follow the market pricing for them and pat myself on the back for buying when I did but it was more good luck than good judgment as I did as most of us bought the cars because I liked them. As far as insurance goes I am torn on how much to insure them for. On the one hand replacement value seems the right way to go but on the other hand if I write any of my cars off in a wreck the chances are that with that kind of wreck I may not be around to care what the insurance will pay out. On the other hand if it got smushed when I was not in it the other insurance is likely to pay up or if it got burnt to a crisp then I could be out of pocket. I guess in the end it comes down to how much risk one wants to take. I am tempted to insure the cab for $50K because it ought to be repairable for that much from a major fender bender but the difference between $50K and say $150K in premiums is not that great when you insure a total of 4 cars so it is a hard choice.
If I had known I would live this long I would have pushed the envelope a little harder.
Cymru am byth
David Jones #9715
Cymru am byth
David Jones #9715
-
- 356 Fan
- Posts: 753
- Joined: Tue May 31, 2011 10:07 pm
- Location: VT
Re: Has the Market Topped Out?
I'm not sure I would base market conditions on the sale of 3 Seinfeld cars, but I would be surprised if values continued to increase as they have. These car will always be valuable, but the steep appreciation we have experienced may be behind us. I think the parabolic rise is due for a pause (or already has).
As others have mentioned, most of us do not own them as an investment, we own them because we are car crazy and like them. I had no idea the values would rise so dramatically when I purchased my car 5 yrs ago. I have to say though, the car has become a quite a significant asset for me. There have been times I have pondered selling it, particularly since it will be a struggle just to pay the 6% tax on NADA to register it.
But then what? have money in the bank that will soon disappear/vaporize (that is the way it goes here anyway)?
This is why I like real goods, last thing I want is more exposure to financial markets.
And on a slightly different topic - is it time to stash away a decent 931 (I think yes), or maybe 88 924S or 928S? 914's still in reach too, but 912 and 911 have left the station.
Hmm, maybe time to start collecting 931's, 928's?...
As others have mentioned, most of us do not own them as an investment, we own them because we are car crazy and like them. I had no idea the values would rise so dramatically when I purchased my car 5 yrs ago. I have to say though, the car has become a quite a significant asset for me. There have been times I have pondered selling it, particularly since it will be a struggle just to pay the 6% tax on NADA to register it.
But then what? have money in the bank that will soon disappear/vaporize (that is the way it goes here anyway)?
This is why I like real goods, last thing I want is more exposure to financial markets.
And on a slightly different topic - is it time to stash away a decent 931 (I think yes), or maybe 88 924S or 928S? 914's still in reach too, but 912 and 911 have left the station.
Hmm, maybe time to start collecting 931's, 928's?...
- Brian R Adams
- 356 Fan
- Posts: 3328
- Joined: Thu Mar 27, 2008 1:34 pm
- Location: N. Nevada
Re: Has the Market Topped Out?
If that's not a joke, you need to move to a different state, pally.M Penta wrote:There have been times I have pondered selling it, particularly since it will be a struggle just to pay the 6% tax on NADA to register it.
Say, isn't The Bern from VT?** That explains it.
(** By way of Brooklyn, of course. You can take the boy out of Brooklyn but ...".)
Welcome to the era of policy-based evidence-making.
Difficile est saturam non scribere (Juvenal)
Difficile est saturam non scribere (Juvenal)
- Brian R Adams
- 356 Fan
- Posts: 3328
- Joined: Thu Mar 27, 2008 1:34 pm
- Location: N. Nevada
Re: Has the Market Topped Out?
An employee has a good '87 944S Turbo. Does that get any love?M Penta wrote: And on a slightly different topic - is it time to stash away a decent 931 (I think yes), or maybe 88 924S or 928S?
Welcome to the era of policy-based evidence-making.
Difficile est saturam non scribere (Juvenal)
Difficile est saturam non scribere (Juvenal)
-
- 356 Fan
- Posts: 4205
- Joined: Tue Mar 25, 2008 9:28 pm
Re: Has the Market Topped Out?
Magnus Walker must also think the 931, aka 924 Turbo, is the next investment see http://magnuswalker911.blogspot.com/201 ... turbo.html
- Brian R Adams
- 356 Fan
- Posts: 3328
- Joined: Thu Mar 27, 2008 1:34 pm
- Location: N. Nevada
Re: Has the Market Topped Out?
That's a nice one. Who designed the interior - Peter Max?Brad Ripley wrote:Magnus Walker must also think the 931, aka 924 Turbo, is the next investment see http://magnuswalker911.blogspot.com/201 ... turbo.html
Welcome to the era of policy-based evidence-making.
Difficile est saturam non scribere (Juvenal)
Difficile est saturam non scribere (Juvenal)
-
- 356 Fan
- Posts: 753
- Joined: Tue May 31, 2011 10:07 pm
- Location: VT
Re: Has the Market Topped Out?
Yes, the Bern is from VT, and yes we have a heavy tax burden (point taken). This goes for all NE states though, VT is actually not the worst of the lot (see CT and Mass).
As for car registration, it has always been a one time tax at time of registration. The difference now though is that they follow NADA since many people were submitting bogus bills of sale figures. This is actually not as bad as what some states do, such as NH, where they tax you yearly on a NADA book value (but they have no income tax which helps).
The time to reg my car is approaching, and I should take a closer look at state to state differences and any possible solutions (I'll just leave it at that!).
Back to the 924 thing; I was actually planning to build one for hill climb but instead the 356 came along, totally different beast but I'm obviously glad it worked out that way!. I still think about these unloved mongrel 924's though, especially one with Parscha interior and a turbo!
I like them better then 944's, I like the non flared simple lines, I think they are a great looking car (almost everyone will disagree with me, but thats fine). If i had a choice between a nice 924S or 944, I'd take the 924. The 951's are cool, but i have been scared away from these (long story).
For an early car its got to be a turbo. The choked off 2.0 cyl head design makes the NA virtually impossible to make power. Plus the turbo cars are getting scarce, but still very cheap (too cheap?). I can buy one for the tax bill on my 356!
I have nothing against a 924S either. 88 is the year to have with euro pistons offering 10 more HP. The S is just a 944 with out the flares (and 200lb lighter). better suspension and drivetrain then the earlier cars. Also 5 lug with phone dials (big plus in my book).
And then there is the 928... What is not to love here? I'm in the camp that loves them. They are not as complex/expensive to repair as people make them out to be. The engines are excellent and the cars drive like a dream.
But, as we know, none of these like to sit around, and the maintenance realities of keeping them all on the road are intimidating.
Maybe some one needs to step in and be the next Adam. Hoard them and store them and get the market timing spot on!
I did recently pick up an 83 GTI for dirt cheap which I plan to restore with my kids. I bought it for the same reasons I buy any car - because I love it. But who knows what they will be going for in 5-10 yrs?
Sorry if I am straying too far off topic here!
Mark
As for car registration, it has always been a one time tax at time of registration. The difference now though is that they follow NADA since many people were submitting bogus bills of sale figures. This is actually not as bad as what some states do, such as NH, where they tax you yearly on a NADA book value (but they have no income tax which helps).
The time to reg my car is approaching, and I should take a closer look at state to state differences and any possible solutions (I'll just leave it at that!).
Back to the 924 thing; I was actually planning to build one for hill climb but instead the 356 came along, totally different beast but I'm obviously glad it worked out that way!. I still think about these unloved mongrel 924's though, especially one with Parscha interior and a turbo!
I like them better then 944's, I like the non flared simple lines, I think they are a great looking car (almost everyone will disagree with me, but thats fine). If i had a choice between a nice 924S or 944, I'd take the 924. The 951's are cool, but i have been scared away from these (long story).
For an early car its got to be a turbo. The choked off 2.0 cyl head design makes the NA virtually impossible to make power. Plus the turbo cars are getting scarce, but still very cheap (too cheap?). I can buy one for the tax bill on my 356!
I have nothing against a 924S either. 88 is the year to have with euro pistons offering 10 more HP. The S is just a 944 with out the flares (and 200lb lighter). better suspension and drivetrain then the earlier cars. Also 5 lug with phone dials (big plus in my book).
And then there is the 928... What is not to love here? I'm in the camp that loves them. They are not as complex/expensive to repair as people make them out to be. The engines are excellent and the cars drive like a dream.
But, as we know, none of these like to sit around, and the maintenance realities of keeping them all on the road are intimidating.
Maybe some one needs to step in and be the next Adam. Hoard them and store them and get the market timing spot on!
I did recently pick up an 83 GTI for dirt cheap which I plan to restore with my kids. I bought it for the same reasons I buy any car - because I love it. But who knows what they will be going for in 5-10 yrs?
Sorry if I am straying too far off topic here!
Mark
- Brian R Adams
- 356 Fan
- Posts: 3328
- Joined: Thu Mar 27, 2008 1:34 pm
- Location: N. Nevada
Re: Has the Market Topped Out?
Whew! That's a relief. I was thinking a recurring tax at annual renewal.M Penta wrote: As for car registration, it has always been a one time tax at time of registration.
Welcome to the era of policy-based evidence-making.
Difficile est saturam non scribere (Juvenal)
Difficile est saturam non scribere (Juvenal)
-
- 356 Fan
- Posts: 753
- Joined: Tue May 31, 2011 10:07 pm
- Location: VT
Re: Has the Market Topped Out?
Oh man, that would be outrageous! I would certainly be joining the 924 crowd.
- C J Murray
- 356 Fan
- Posts: 9209
- Joined: Fri Oct 23, 2009 7:24 pm
- Location: 30MI WEST OF PHILA
- Contact:
Re: Has the Market Topped Out?
My wife and I had a Rabbit GTI new, black/blue. Great car! You will have fun with it and it is a good choice for involving the kids. Enjoy.
'57 Speedster
'59 Sunroof
'60 Devin D Porsche Race Car
'63 Cabriolet "Norm"
'67 911 S Original Owner
'03 Ferrari 575M
'09 Smart Passion
'59 Sunroof
'60 Devin D Porsche Race Car
'63 Cabriolet "Norm"
'67 911 S Original Owner
'03 Ferrari 575M
'09 Smart Passion
- Adam Wright
- Classifieds Monitor
- Posts: 10320
- Joined: Wed Mar 12, 2008 1:00 am
- Tag: KTF
Re: Has the Market Topped Out?
The next car to snatch up is the last of the 928's, the S4's or GT. Mark my words.
www.unobtanium-inc.com
Check out my Barn Find column in the Registry magazine, always looking for good stories.
Check out my Barn Find column in the Registry magazine, always looking for good stories.
-
- 356 Fan
- Posts: 753
- Joined: Tue May 31, 2011 10:07 pm
- Location: VT
Re: Has the Market Topped Out?
Thanks CJ,
I used to have an 84 GTI blk/blue, which I totaled. I then built a real nice 76 Rabbit with the remains, and that one burned to the ground (dual Webers + header+ fuel leak). This was all 25 yrs ago. Harder to find now, but still dirt cheap to build and easy to work on.
Adam, I agree on the 928S4's, and even the early cars (especially 5spds). The GT's and GTS will be the top shelf though.
If its going to be a 924, top choice is 88S or an 81/82 931. 87S and 80 931 second choice.
Looking around again, I see the top choice models are beginning to bring significantly more money.
I used to have an 84 GTI blk/blue, which I totaled. I then built a real nice 76 Rabbit with the remains, and that one burned to the ground (dual Webers + header+ fuel leak). This was all 25 yrs ago. Harder to find now, but still dirt cheap to build and easy to work on.
Adam, I agree on the 928S4's, and even the early cars (especially 5spds). The GT's and GTS will be the top shelf though.
If its going to be a 924, top choice is 88S or an 81/82 931. 87S and 80 931 second choice.
Looking around again, I see the top choice models are beginning to bring significantly more money.