I found this "article" very interesting. Overseas buyers seem to be
picking up many cars. However, I notice in Autoweek several weeks ago
that the report on the Barrett-Jasckson Auction seemed to indicate
US buyers are still picking up certain pieces. MGs, TRs, and Alpines
do indeed seem to be on the raise in value. What appears to be happening
is the "next best thing" syndrome. IE: Ferraris are out of sight, so
Aston Martins begin to climb (look at where they are now, DB6s trading
for around $200,000 when five years ago, one could easily be had for
$15,000). When these have been snapped up, the Jags really begin to
take off. At the B-J Auction, an XK150S (don't know if it was the 3.4
or the 3.8 litre car) sold for $144,000!!!! And an XK120 traded for $122,000!
Now, the rarer TRs and MGs are starting to get snapped up and are trading
at over $30,000.
I'm not one for doom and gloom as I really enjoy thinking my rusting piece
of Jag might be worth lots soon, but I can't help but remember the photo-art
market back in the early '80s. Ed Weston and Ansel Adams prints started
to climb out of sight. Heck, a copy of "Moon Rise Over Hernandez" traded
for over $30,000! Two months later, the market collapsed. I know that
one cannot "drive" an art-print, and I know that certain marques will
always retain their present value. But, why should marques that turned
out 200,000 to 500,000 examples of a particular model be expected to
continue to increase in value? Chances are, they will over the next
year, even given the signs that the auto-art market is beginning to
soften. The Ferrari market has seemingly peaked, the Corvette/Mustang
market may soon be there, and the Jag market will certainly peak.
Too many examples have been made, and once these cars have been redistributed,
no ONE or GROUP of individuals will be in control of the market (as seems
to have been the cause of the Ferrari stampede (sp?)). If a person had
several good examples of a marque that is presently increasing in value,
it would be great fun to turn one or two at an outragous profit, and then
wait to see what happens to the marketplace over the next 10 years (keeping
the best car for one's self, of course :-).
I've babbled enough...
CMP
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