Amount once a year I’ve run a valuation on my 57 Chevy Bel Air. The last couple of years the valuation has been declining. Is anyone else concerned about this? Do you think it’s a temporary trend?
We’ve been watching the market on these pretty close and have noted declining sale amounts at auction as well as a general decline in asking prices. They’re far too abundant and still too iconic to fall out of favor any time soon. That said, these cars have been rather expensive cars for the entry level collector and I feel that they were bound to correct in value at some point. I see no reason to cash out, these cars are still too popular to lose all their value overnight.
I agree with Greg. I believe that this is a market correction and prices will stabilize soon. Part of the problem is that because they are now reproducing these cars there is simply more inventory. In the long term I believe that prices will stay flat for awhile then slowly rise over time. My motto is drive it and enjoy it till either you or it dies and let someone else worry about its value!
Our group (the baby boomers) were the ones driving this market and we are getting older and let’s face it… dying off. I’m in a classic Chevy club and we average 1-3 members a year dying.
Not many younger people are interested in cars from the 50’s. They want cars from their youth, 70’s and 80’s.
That is the case for most cars of this era but there are certain cars that have an appeal that transcends generational gaps such as 32 Fords, Tri 5 Chevys, and first gen Mustangs and Camaros. The problem with all of these cars is that for awhile now they have been priced beyond the means of many who want them.