Old Car Asking Prices have become STRATOSPHERIC

[watchfatha1]

Anybody else notice the insanity that has overcome many old car sellers? The prices some are asking for almost any car are (as we used to say in Brooklyn) like "Telephone Numbers." $40k for a just fairly re-painted, not original or well done, re upholstered 67 Chrysler 300 convert? Really? $17k for a visibly tired 72 Plymouth Gran Coupe? Near $30k for a 67 Buick Electra convert? Seriously? Was I sleeping for too long? What gives?

[ImperialAtom]

Yes - just 6 years ago I remember prices were half of what they are now or less. Have to always look at what people are truly paying, not the sales price, but even still, you are right - they are going up.

I keep watched auction results and still shocked at the price some of these cars go for.

[watchfatha1]

I don't think the actual transaction prices are going up, just the asking prices. Many of the crazy ask ads remain active for months and months, with no rational takers. Don't know what might be the motivation for that.

[watchfatha1]

Example:https://www.ebay.com/itm/1963-Oldsmobil ... 000%7C2500
What am I missing????? That's CORVETTE money.

[ImperialAtom]

Yeah, for a hardtop no less.

[watchfatha1]

Forget hardtop, that's an Olds F-85! It was nothing special then, and it didn't improve with age. They made nearly TEN THOUSAND of them, so its not about rarity. If rarity were the criteria, our Imperials would be reaching 6 figures, but that's not the case even for the truly rare convertibles.

[watchfatha1]

Here's another onehttps://orangecounty.craigslist.org/cto/d/anaheim-64-lincoln-continental-sedan/7141752907.html

[gary h]

I notice many overpriced ads are dealers. or Jim Gesswein.

[slantflat]

I think it's auction related. Some shiny [brand Z] crosses the stage and gets bid to oblivion, and the average joe schmoe has the same car but huge rust holes in it and no paint left on it and says hey I have one of those, and then prices it like what the auction brought, because "it's the same car!"

[watchfatha1]

Got a different slant on things today; watched the Mecum Kissimmee auction from Jan 2020. Some stuff went for next to nothing, so now I just think it is asking prices on Craigslist, not the real market.