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- Demon 170
I agree on the diversification for sure and yes there will always be exceptions, but we have to be realistic and think TCO as a whole. I don't know anyone getting 1.5X MSRP for a Demon. I don't know that going by BAT or what happened last month at Mecum is really a barometer. If you believe BAT then my 2002 4Runner is worth $25K (I wish!). I'd love to find someone really deep in to it though that I could run around with just to get a look deeper in to the car collecting/flipping culture. Seems to be a fickle bunch.
I've known three people to sell their Demons and none did very well. I've mentioned my buddy before who had a Demon he put in bubble wrap for 3 years. He had a very hard time selling it a few months back. I know because I tried to help sell it myself. I tried here, the old site, ebay, all over and barely even a nibble. He ended up selling it back to the dealer he got it from to break even (which really means lost money). I listened to him tell me for 3 years how much that car was gonna be worth. He thought he was gonna wait 3 years and pull it out of storage and have the only one left with 20 miles on it. Well 3,000 other people have the same thing and that's the rub. Too many have been bubble wrapped and put up to make them really rare. You all can thank the Mecums and Barretts of the world for that.
The Cobra R you mention is another easy example. They're not REALLY worth 2X MSRP when you factor in that bitch inflation. Now factor in having to store and maintain that car for 20 years and you've probably lost money.
However if you bought 100oz of gold in 2000 you'd have profited nearly $170K today and had no worry about maintenance, rust, etc. Not as much fun sure, but neither are those cars that sit in bubble wrap right
It seems to me that the people that view vehicles as investments are in a certain age group. Those folks will probably continue propping some of these cars up until they are no longer with us and then the kids get them and just sell them as quick as they can. That's when the bottom falls out and you don't wanna be the guy with a garage full of cars with 401K on the license plate.
If you love cars and buy them to enjoy them, then none of this applies obviously, since it's not about the investment so much as it is just enjoying them for what they are.
I've known three people to sell their Demons and none did very well. I've mentioned my buddy before who had a Demon he put in bubble wrap for 3 years. He had a very hard time selling it a few months back. I know because I tried to help sell it myself. I tried here, the old site, ebay, all over and barely even a nibble. He ended up selling it back to the dealer he got it from to break even (which really means lost money). I listened to him tell me for 3 years how much that car was gonna be worth. He thought he was gonna wait 3 years and pull it out of storage and have the only one left with 20 miles on it. Well 3,000 other people have the same thing and that's the rub. Too many have been bubble wrapped and put up to make them really rare. You all can thank the Mecums and Barretts of the world for that.
The Cobra R you mention is another easy example. They're not REALLY worth 2X MSRP when you factor in that bitch inflation. Now factor in having to store and maintain that car for 20 years and you've probably lost money.
However if you bought 100oz of gold in 2000 you'd have profited nearly $170K today and had no worry about maintenance, rust, etc. Not as much fun sure, but neither are those cars that sit in bubble wrap right
It seems to me that the people that view vehicles as investments are in a certain age group. Those folks will probably continue propping some of these cars up until they are no longer with us and then the kids get them and just sell them as quick as they can. That's when the bottom falls out and you don't wanna be the guy with a garage full of cars with 401K on the license plate.
If you love cars and buy them to enjoy them, then none of this applies obviously, since it's not about the investment so much as it is just enjoying them for what they are.
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