Collector car sales are “crazier than ever.”
ALL it takes is ONE buyer {well on BaT or in a conventional auction it takes multiple bidders} who looks at the car, essentially as new, and is overcome with nostalgia.
“Geez, I wanted one SO BADLY, and had o money for these few dozen reasons.”
Now 4 tech company launches later, he’s worth whatever….let’s say $888 Million. So, he IS BUYING and he does not care about the price at all. Nor about what other values are out there. Money makes no difference. Whatever…….
Takes ONE, and others to play to drive the price.
This older friend of mine has been selling off his collection. He had a Shelby 350, white fastback. Pretty damn cool. Fully restored. He had all sorts of people contacting him, and he did fine.
BUT, one guy contacted him, actually his lawyer did. This guy is worth something like $35Billion. He always wanted one. Could not afford it. So he is looking for the unicorn. Ultra low mile, 100% original. No restoration. Nothing. And he made it clear that he’ll pay almost anything.
I guess he has everything you could ever want, or imagine. Has 20-30 great cars. But he NEEDS this Shelby. My friend said that there are a couple in Museums, and this guy will likely end up with one. For insane money. To most of us.
That kind of dynamic is driving so much of this market. “I’ve lusted after a…..since I was a kid.” There are a number of those people and cars in my town.
Not in our driveway!