Friday 18 August 2017

Down in Monterrey.....................from Rico

Years ago I had the opportunity to attend THE classic car auction in Monterrey where the world's best-of-class collector cars go up for auction.
- Like the 1962 Ferrari 250 GTO Berlinetta (which sold not long ago for +$38 million, and I hear there is one in Germany on offer for $64 million now).
A collector pal of mine and I were looking at American muscle cars in the few-thousand dollar range, hoping to speculate on potential future price increases of overlooked/unloved models.
- We didn't buy anything, but for a 'car guy' it was much like Hugh Hefner attending a Victoria's Secret photo shoot.
This bubble now appears to have burst with prices down ~15% from 8-2015 and 8% y.o.y. Expensive, sunningly pretty, very high maintenance, and rapidly losing collectible value....the cars.
- What did you think I was talking about?

1 comment:

Lola said...

Classic car price bubble..another 'success' for QE and ZIRP