Things certainly are changing. The has been alot of discussion both in the media & the public domain regarding the recent price increases in Australian muscle cars. I often get asked... "when do you think it will stop?" In honesty, I have no idea. Possible reasons for a reversion in expected market values on these cars could be anything from recession to a change in the capital gains tax policies for these cars. At the end of the day, these cars are not just collectable, they're fashionable.
The obvious downside to this is the fact that these wonderful Australian cars are really out of the reach of the average enthusiast. It is agreed though by and large that the overall value of cars througout the marque increase, maybe not by the same ratio but increases are ensured.
Recently we consigned the E38 that was restored and made it's debut last September @ ACD Sydney. It's a nice car... the asking price was $180,000 !! After starting a marketing campaign for the car we were taking calls on the car daily, one particular caller left a message on our phone, possibly too shy to disclose his identity or maybe it was his wave of insults and profanities that forced him to call after hours. Phrases like "....you bunch of wankers..." & " $180,000 ...you're dreaming !!" spring to mind. I would like to remind everyone that we "do not" dictate an asking price when consigning a vehicle, the customer has a price, we have a fee for our services & then there's GST.... there lies the asking price.
It should be known that I believe this car achieved a new benchmark. We sold the vehicle shortly after our anonymous caller left his message for $180,000 to a private interstate collector. My message here is simple, what seems unreasonable for one person may not be a direct representation of another individuals opinion. Thus leaving us with what we have been saying for years.... "It is only worth what someone else is prepared to pay for it !"
Take care all...