Are Classic Car Prices Too High?

By: Guy Allen

Date: 27.07.2016

USA classic car observer says ‘get a grip’

We couldn’t help but chuckle at the outraged comments of a reader on Bring a Trailer online recently, when bidding on a very nice 1965 Buick Sportwagon pulled up at US$14,500 (AU$19,300).

He argued that prices for classic cars are out of control and that the sky-high expectations of sellers of fairly pedestrian machinery are unreasonable. Is he right?

Here’s what he had to say: "First of, well done and thank you to all the bidders for keeping their wits about them. $14,500 was way too much for this car on an internet auction, I can’t imagine who thinks this is worth more than that or why they would even think that… – (old man rant).

"WHAT is wrong with the car enthusiast world?! People spending waaaay too much money for any old car – just because it’s an old car – have sucked the fun right out of what was once a fun hobby for most of us.

"People have lost perspective as to what makes a car ‘special’ or ‘collectible’. What makes anyone in their right mind think these old cars are worth their weight in gold?

This is an old Buick wagon, nothing more, nothing less. Most bidders just want to buy an old car they can screw around with and drive to coffee and donuts once a week. These sellers list their cars on an internet auction site where 99 per cent of the bidders have no way of inspecting the car in person or even hearing it run, (a pig in a poke) yet the sellers have these optimistic reserve numbers that they came up with from some likely drug fueled haze, and believe these old cars to be worth big money.

"Sorry to smash your hopes and dreams buddy, but again, it’s an old Buick wagon. Get a grip… Oh, and you might want to lay off the pharmaceuticals too…"

You can see all the details on Bring a Trailer, right here.

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