Editorial on “buying & selling” for 2008
by Don Burdge
What is the latest in buying and/or selling hot rods, customs and muscle cars?
(Race cars are a whole other subject which we’ll address at a later
time.) Read on for an honest appraisal of ‘our times.’The subject is really not debatable—it is a buyer’s market! Well some try to debate it with the long-repeated statement, “The right guy will come by that really wants my car.” That old adage stood for decades through the 80’s and 90’s and many of us depended on it. You would often be hanging out with a bunch of ‘wrenches’ telling stories and someone would inevitably say, “Well when I die my wife can sell my hot rod and it’s like insurance.” (Hah, caught you, how many of us have said that?) Anyway, those days are gone for the present! Now don’t get me wrong they may be back IF the economy ever levels off—but as you can see that isn’t going to happen overnight. Most economic forecasters say even after it levels off it takes 6 months for the ‘average Joe’ to start spending again and things “get back to normal”--so to speak. So where does that leave the hot rod, custom and muscle car market?
Here is my take on it:
It’s a buyer’s market. If you really want to sell don’t overprice your
vehicle. Do price comparisons and fix a real price on your hot rod, THEN
be ready to go down 20-35% to actually sell it. Hey don’t get mad at
me, I didn’t create this problem; it’s just how it is. Now if
you’re willing to wait that’s a different story, BUT get ready to wait a long time, at least a year or more!It’s good to be realistic. Here’s why things are this way—are you ready? Any and all buyers know what’s going on, so they just decide what kind of car they want and go bargain hunting. They give themselves a few months and they’re patient, AND they get what they want for 20-35% what most are asking—it’s that simple. (Re-read this last sentence it is the punch line!) Hey that’s a tough deal, but some need to get there head straight on this one—it is a buyer’s market for at least a while longer.
That being said, decide what you want to do and contact me if you’re looking for a quality hot rod, custom or muscle car OR, if you have a quality hot rod you’re looking to sell contact me.
If
you want to do it yourself, THEN price your car to sell or price cars
before buying. Check NADA guides, Classic Auto Trader,
HotRodHotline.com, Auto Trader (your state), Hemming’s Motor News,
Street Scene (NSRA), Goodguy’s Gazette and any other site or
publication you’re familiar with to establish how to price a car to
sell or determine what’s reasonable to pay as a buyer! If you’re
a serious seller/buyer please ask me any question you like!
