Quote:
Originally Posted by dkat
Wow, I can't believe what this thread has morphed into. The car is worth what anyone is willing to pay for it. Simple supply & demand.
A "collectible" car is not an investment. you have stocks, bonds, real estate, precious metal for that.
Can't drive a stock, wash or wax a bond. Collectible cars are hobbies. There are people who will bring them to shows, autocross/race, take a nice ride or just stare at them in a garage. Who cares what a a hobbyist will do with their car or what they are willing to pay. If it appreciates in value, good for you.
Comparing the 1M to any modern car is silly. Any late model performance car will run rings around a 1M for the same price or less. I can trade mine for a late model Porsche 911 all day. The 911 will be faster, better handling, better quality but in the end, It's just another 911. I wanted something a little different, a little raw, analogue. With only 740 cars imported to the U.S.(that's another debate), I like owing something that not many others have. I will continue to drive mine on nice days on twisty roads for the foreseeable future
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The other thing to point out is that collectible cars don't have much of a market in bad economic times. In the best of circumstances, they are no more fungible than real estate, e.g. not that easy to sell. In bad times, you take a real bath if you are forced to sell. So they are toys, unless you drive them a lot, in which case they depreciate and whatever tiny bit of an investment value there might be, is lost.
Can't have your cake and eat it, too :-)