Yep.
It’s hard for a young person to justify buying a new Mustang.
The Mustang is a great car, just hard for them to justify getting one.
The ones I really don’t understand are the guys paying over $100,000 for an old muscle car.
The new Mustang is a much better vehicle than the 68 Fastback, but guys will spend tons of money to have that 68 sitting in their garage.
I personally don’t get it.
I frequent a few of the classic auction sites. They’ve convinced themselves that certain cars are “investment grade.” They’ve been able to turn around and sell them for more in a year, for several years now. But, collector cars go through peaks just like everything else. Two-seater Thunderbirds, for instance. They were sky-high a decade ago, now you can get a pretty nice one in the twenties. There’s a generational aspect to the peaks and valleys, too. Collector cars peak as the people who remember them and always wanted them reach their peak earning years, then the price falls off as younger people don’t quite have the same level of interest.
1. It’s a passion.
2. You have a unique vehicle.
3. It may be worth more in the future.
Agreed. My favorite car of all time is a 69 Mach 1, but they are lucky to have 250HP, they drive like crap and they break. My 2011 would run circles around it. It sure looks purty though.
It’s like buying art: Why would someone pay thousands or millions of dollars for an original painting by Matisse/Dali/Pollock when you can pick up a paper copy at Wal-Mart for $2?
Originality and collectability are the factors, not practicality or utility.