Topic: Question on car auctions

[Bezor]

Last year I thought the bottom would fall on auto auctions, the overall economy had begun to show signs of drunkeness, the end possibly near for outrageous prices for American iron.  Excessive horsepower from small town Americana were rung up at higher and higher prices at auction in the short years leading upto last years auctions.  My guess of last year being the freeze really didn't turn out to be true.  Maybe I was too soon to check out and leave the party, as people with deep pockets were there to stay. 

So with concourse d'Elegances over, Indian summer in full effect, who thinks that this year will be the year to bet against Yenko?

[Ultra]

Last year I thought the bottom would fall on auto auctions, the overall economy had begun to show signs of drunkeness, the end possibly near for outrageous prices for American iron.  Excessive horsepower from small town Americana were rung up at higher and higher prices at auction in the short years leading upto last years auctions.  My guess of last year being the freeze really didn't turn out to be true.  Maybe I was too soon to check out and leave the party, as people with deep pockets were there to stay. 

So with concourse d'Elegances over, Indian summer in full effect, who thinks that this year will be the year to bet against Yenko?

 

[Arthur Dent]

Apparently a lot of old cars are heading over to Europe with the weak US dollar. Could be helping the prices some.

[Bezor]

Apparently a lot of old cars are heading over to Europe with the weak US dollar. Could be helping the prices some.

Excellent point....as far as American goods, everything here is half-price there.   

[Allan L]

Most of what's coming to Europe will be the same as that which went to the States when the exchange rate favoured the $ some years ago.
Not so much US iron, as cars of European origin.
With due respect to Ray B, most of us think that US cars are too big for our roads!

[Otto Puzzell]

I disagree - your roads are too narrow for our cars! 

[hugo90]

As we can see by the fruits of the current economic crisis, there are still plenty of rich people.  Cars will still go up.

[Bezor]

A certain portion of America is not affected by the cold economy, and  seemingly world markets have also chilled considerably.

As far as the topic at hand, the recent activity at Barret-Jackson seems to indicate a slowing, cooling what have you.

[Bezor]

Interesting slide-show of bellweather cars and their previous price performance at auction.

http://www.nytimes.com/slideshow/2008/08/10/business/0810-pebble_index.html?adxnnl=1&adxnnlx=1224478827-u8gHvQl9EW90CYiNJIJFBw)