Hagerty says markets are on the down slope

[67 GT350]

Got to love Vern....What it is worth, nothing for me, my first Shelby was 2500.00....I sold it, thats OK, years later I bought another one, let them come down, let them go up, I do not care....I still would not want to pay too much, but if I want it?
I am waiting for the FGT to fall in value....I like the car! Still looking for a Mustang II Cobra or King, why? Because I like the car....How many times do I got to say it.....I like Torino Sports also, I like mid 70's LTD Landaus.....BRING THEM ON!

[s2ms]

Well, since I retired in 2021, the annual miles I've put on my 66 have more than doubled. That's the only slope that concerns me at the moment. And that slope is going UP.

[Bob Gaines]

Well, since I retired in 2021, the annual miles I've put on my 66 have more than doubled. That's the only slope that concerns me at the moment. And that slope is going UP.

Good for you. Keep working that slope.

[FL SAAC]

Got to love Vern....What it is worth, nothing for me, my first Shelby was 2500.00....I sold it, thats OK, years later I bought another one, let them come down, let them go up, I do not care....I still would not want to pay too much, but if I want it?
I am waiting for the FGT to fall in value....I like the car! Still looking for a Mustang II Cobra or King, why? Because I like the car....How many times do I got to say it.....I like Torino Sports also, I like mid 70's LTD Landaus.....BRING THEM ON!

and that my friends is the true meaning of life....that's it, not an investment it is all about "I like the car" pure satisfaction and happiness....profound words "I like the car" !

[Royce Peterson]

Last, here is an example of down slope with a 1968 GT-E Cougar.  Both cars appears to be well restored and the same color cardinal red.  The one that sold in 2024 was an XR7 with leather interior and the other in 2011 was standard.  They both sold exactly the same,  $181,500 with fees.  Who got the better buy?  Thirteen years difference.  The 2024 sale in 2011 dollars is $135,708.  The 2024 GT-E Cougar was a better buy and with more options.  (Yes, only one example, but does illustrate the trend.)
Cory

I agree with your conclusion that the recent one was a better deal but for different reasons. The first example (and I know both cars well) was a home run for the seller. The market had peaked, he was able to save the original numbers matching side oiler through a minor miracle and some very good contractors. The buyer had Bob Perkins at his side and was well heeled, and he had competition from an equally well heeled individual. The car was the first restoration by a pretty good amateur.

The latest one was far better both in the car that they started with, the options, and the restorer. The finished product was far better. We know more today than we did in 2012. There were fewer bidders in the room, no one hired Bob, and the results are what they are. It's hard to say if there was a trend involved when so few cars change hands.

[427hunter]

No two cars are alike so there is no "market". Over time different makes and models do move up and down but even in the most general sense it is still ends up car specific as to what brings more. I have been to auctions many times, most of the cars are awful.

[6s1640]

Last, here is an example of down slope with a 1968 GT-E Cougar.  Both cars appears to be well restored and the same color cardinal red.  The one that sold in 2024 was an XR7 with leather interior and the other in 2011 was standard.  They both sold exactly the same,  $181,500 with fees.  Who got the better buy?  Thirteen years difference.  The 2024 sale in 2011 dollars is $135,708.  The 2024 GT-E Cougar was a better buy and with more options.  (Yes, only one example, but does illustrate the trend.)
Cory

I agree with your conclusion that the recent one was a better deal but for different reasons. The first example (and I know both cars well) was a home run for the seller. The market had peaked, he was able to save the original numbers matching side oiler through a minor miracle and some very good contractors. The buyer had Bob Perkins at his side and was well heeled, and he had competition from an equally well heeled individual. The car was the first restoration by a pretty good amateur.

The latest one was far better both in the car that they started with, the options, and the restorer. The finished product was far better. We know more today than we did in 2012. There were fewer bidders in the room, no one hired Bob, and the results are what they are. It's hard to say if there was a trend involved when so few cars change hands.

Hi Royce,

I made a correction to my GT-E Cougar reply No. 8.  Brian Littlefield had a correction for me that makes the 2024 sale even a better deal.  I agree, one example does not make a trend, but does support the observation.

Take care

Cory