When did this happen? I typed in "455" search box Hemmings Motor News. Only 7 results tied to private owners. That's a pretty big span of vehicles. 150 something in the hands of "dealers". Is something wrong with private party transactions these days?
I remember the late ‘00s; cars were going for crazy money at auction, then showing up at dealers who offered financing (or linked people to lenders) for another $20k above the auction price. People were refinancing their houses and taking out second mortgages for ‘toys’. When the housing bubble burst the market was awash with Harleys, Chevelles and boats but the prices were what was owed, not what they were worth. People don’t realize that, in a perfect world, the losing bid is an item’s value. The winner paid a price no one else would. I wonder if we’re headed that way again… Patrick
When I can buy this: https://www.caranddriver.com/cadillac/ct5-v-blackwing for less than a very nice Stage 1, things are out of whack. That's a pretty hefty premium to be paying for what is nostalgia over performance. It's not like when we wanted a muscle car because a new Buick (or even Trans Am) had a 403 wheezer Olds that had no power nor gas mileage. And with the new Cad, there's a warranty!
That Black wing is a cool car. Can even get it in a manual 6. I remember when the old cars were coveted kings of the road. When the new iron was kinda slow. But as I related, people must not want to be tasked with selling their "prized possessions" on their own. So they enlist the "services" of a "dealer"?
129.95 must be better than consigning a car through a "dealer". FB ads don't really turn up too much as far as decent cars without "cowl rot" go. Plus, even sellers that list ones that have it are asking unrealistic prices.
Easy, money is cheap. Dealers can charge much more with people refinancing their homes to buy toys. Same with off road vehicles and rv's. I could easily buy that Zone car coming up for auction. Not a wise financial move however. The gs will be cheap again.
Some prices are people new to the collector market who are looking for their dream car and are willing to pay for it-I think a lot of the Japanese cars going for crazy money is that. I imagine a lot of the rest is speculators and flippers riding the swell. (I don’t think any of ‘us’ are paying GNX prices. I doubt any ‘Buick’ guy bought the half million dollar GN. I doubt we’re buying these GSXs that cost $125k and are restored wrong. But somebody is. Question is, ‘who’ll be holding the bag when the music stops?’) Patrick
