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Old 6th March 2009, 19:17   #1
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Default Vintage car valuations dip - The Economic Times

There was a news in The Economic Times on March 4th that the prices of vintage cars have gone down by 25 - 30%.

Heres the link
Vintage car valuations dip on account of slowdown- Automobiles-Auto-News By Industry-News-The Economic Times
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Old 6th March 2009, 21:01   #2
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"Supply and Demand" Rules!

Still a much better performance than the stock market and much more enjoyable than looking at your portfolio!

With the growing interest in cars in general, it will continue to be a sellers market.
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Old 6th March 2009, 22:25   #3
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Originally Posted by Jai3033 View Post
There was a news in The Economic Times on March 4th that the prices of vintage cars have gone down by 25 - 30%.

Heres the link
Vintage car valuations dip on account of slowdown- Automobiles-Auto-News By Industry-News-The Economic Times
So has the money in our pockets. But somehow these economic times indices for art and now cars are always ambiguious.
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Old 6th March 2009, 22:38   #4
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ET's Salsa With the Recession Winds
There are no set rules of the game as far as vintage and classic car and bike prices and sales are concerned. Its not like going for a 2006 Toyota Innova G4D and the second hand dealer quoting anything between Rs 7.25 to 7.50 L.
Each example of a vintage and classic car and bike is very different from the other as far as brand equity, originality, maintenance, restoration levels, availability of spares and several other factors are concerned. So a 1947 Morris 8 can sell for Rs 1.25 L and also Rs 2.5 L depending on so many factors.
The ET story is only half baked. I think any of our friends here at this forum, who regularly view the vintage and classic car and bike threads and posts have a much better knowledge about the state of affairs and could have done a much better story than the one reported by ET.I would hence term this story as "ET's Salsa With the Recession Winds".

Last edited by anjan_c2007 : 6th March 2009 at 22:39.
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Old 6th March 2009, 22:57   #5
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Anjan I read the article twice and they seem to have covered some of the very points you have highlighted. I think it is ok given that articles need to fit and there is a limited commuinty who it appeals to. My broker disregarded the very same thing 18 months ago when I told him the party is over after benarke's 1st rate cut he laughed and I went to cash and booked profits, I kept telling him and he kept laughing and said who ever I spoke to had "half baked" knowledge until last week!!. He calls me and tells me we will see 6K on the sensex!! this is a guy in his 50's seen so many cycles. These are early days and India tends to be 8 months behind international prices have already gone down and so will the ones here. Yes we have scarcity but by the same token is the limited appeal for collecting and appreciating the value so it is the same thing, prices will depress

I can even site you and example I know of a classic SL, the owner was offered 6 lacs as is (needed restoration and immaculate cars were fetching 8 lacs) before the dotcom bubble bust the guy felt it is too low, finally sold the car before this boom began for 3 lacs! some people sold complete intact examples at the height of this boom for prices of Rs. 12 to 14 lacs

cheers

Last edited by canonball : 6th March 2009 at 23:03.
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Old 7th March 2009, 12:12   #6
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Default PREDICTION comes true

[Price Crash Imminent
Quote:
Originally Posted by C.S.ANANTH
Like Real Estate prices, prices of Vintage & Classic cars have gone thru the roof, thanx to the publicity thru media of all the Vintage/Classic events.The other day a guy called me to say that he has a 1948 chrysler windsor without body & some items missing. He wanted 3 lacs ONLY!!


Ananth , you are absolutely right!!.
first the STOCK prices Skyrocketed, the Real ESTATE prices BOOMED, then ART Auctions prices became the talk of the nation ,and finally it was the turn of Classic cars and BIKE prices to burst the ROOF,
But now it seems the CYCLE has reversed. STOCK prices have PLUMMETED , real estate has started COOLING, Art and CLASSIC CARS will follow,
So prospective buyers,Be patient , Wait, watch and then only buy,
it is only a matter of time for these LUDICROUS prices to come crashing!!! as the saying goes" IF WINTER comes ,can SPRING be far behind"???''


I am very happy to see the ET report cited here because way back on 22nd March 2008 I had made the above post and people like nitrous,stanher were skeptical and little bit sarcastic on my prediction.
I am relieved to know that my contention that a price correction was imminent has been proved absolutely true.
nitrous, at least now you understand the correlation between stock,realty and classic car prices

Last edited by GTO : 11th March 2009 at 19:03. Reason: STRICTLY no more than two smilies per post please
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Old 7th March 2009, 12:57   #7
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Can someone please get me a Bentley for 5 lacs?
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Old 7th March 2009, 13:26   #8
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Quote:
Originally Posted by ajay99 View Post
[Price Crash Imminent
Quote:
Originally Posted by C.S.ANANTH
Like Real Estate prices, prices of Vintage & Classic cars have gone thru the roof, thanx to the publicity thru media of all the Vintage/Classic events.The other day a guy called me to say that he has a 1948 chrysler windsor without body & some items missing. He wanted 3 lacs ONLY!!


Ananth , you are absolutely right!!.
first the STOCK prices Skyrocketed, the Real ESTATE prices BOOMED, then ART Auctions prices became the talk of the nation ,and finally it was the turn of Classic cars and BIKE prices to burst the ROOF,
But now it seems the CYCLE has reversed. STOCK prices have PLUMMETED , real estate has started COOLING, Art and CLASSIC CARS will follow,
So prospective buyers,Be patient , Wait, watch and then only buy,
it is only a matter of time for these LUDICROUS prices to come crashing!!! as the saying goes" IF WINTER comes ,can SPRING be far behind"???''


I am very happy to see the ET report cited here because way back on 22nd March 2008 I had made the above post and people like nitrous,stanher were skeptical and little bit sarcastic on my prediction.
I am relieved to know that my contention that a price correction was imminent has been proved absolutely true.
nitrous, at least now you understand the correlation between stock,realty and classic car prices
My 2 bits to this subject. Stocks and cars/art are not alike but related. When stocks go up and there is excess wealth, some folks indulge, buy art cars etc. But stocks are bought for investment, to make money, and art/cars are also bought for investment, but also for love. How many times are cars restored where costs exceed their final value. car prices have definitely come down, but of which cars? A Chevy Fleetmaster, or Austins, Morris, but not premium cars. Unrestored 170V is still quoting 9L. It also depends if the sale is a distress sale, if not then hold on. Good cars did go over the roof, but prices have really not crashed, and certainly not to pre boom levels. I would say Ford A prices are an indicator. They had reached around 6L, today maybe 4L, but never 2L as before.
The price is determined at the level where the seller and the buyer want to meet. This level is going downwards, but quality still costs money!
Anyway we always try to hunt for bargains.

Cheers Harit
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Old 7th March 2009, 14:05   #9
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Quote:
Originally Posted by harit View Post
My 2 bits to this subject. Stocks and cars/art are not alike but related. When stocks go up and there is excess wealth, some folks indulge, buy art cars etc. But stocks are bought for investment, to make money, and art/cars are also bought for investment, but also for love. How many times are cars restored where costs exceed their final value. car prices have definitely come down, but of which cars? A Chevy Fleetmaster, or Austins, Morris, but not premium cars. Unrestored 170V is still quoting 9L. It also depends if the sale is a distress sale, if not then hold on. Good cars did go over the roof, but prices have really not crashed, and certainly not to pre boom levels. I would say Ford A prices are an indicator. They had reached around 6L, today maybe 4L, but never 2L as before.
The price is determined at the level where the seller and the buyer want to meet. This level is going downwards, but quality still costs money!
Anyway we always try to hunt for bargains.

Cheers Harit
thanks harit ,
of course,I agree that rare collectibles(INDIAN CONTEXT) will always be quoted at high premiums because of the limited numbers available here and the type of owners who are in possession of them presently.Almost all such cars are already in the hands of collectors and guys who dont want to part with them unless for some dire reason.
another thing which I want to share with you.
I was offere a 1950 170S in running but unrestored condition for 1.5 lakhs in 2006 .since I did not have the wherewithall to own/restore such a car I called up Freddy Turel the benz afficionado of mumbai and send him the photos,etc but he thought it to be not worth the trouble at that time.(the cars petrol engine was changed to matador 305) .later the owners( a humble brahmin priest of a famous temple) was asking me to take it for Rs.100000/-!!!! .I didnt act and the car was purchased for rs130000/- by some local broker who sold it to someone in Bombay for 4.5 lakhs (2007). 2-3months backs Freddy was saying the same car in the same condition was offered to him for ,Rs.900,000/-!!!!!
i have the photos of the car still with me.
also in 2006 my friend sold a 1962 running beetle sedan for Rs.85000/ to a guy in Madras. in 2008 ,he was rejecting offers of 3.5lakhs


so the general economic boom really turned out to be a DOOM for the classic /vintage enthusiast.

NB:I have info and photos of a 1931ballila fiat tourer(restored) which initially was quoting for 9lakhs and now is asking the prospective buyer to quote .
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Old 7th March 2009, 14:06   #10
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Quote:
Originally Posted by harit View Post
My 2 bits to this subject. Stocks and cars/art are not alike but related. When stocks go up and there is excess wealth, some folks indulge, buy art cars etc. But stocks are bought for investment, to make money, and art/cars are also bought for investment, but also for love. How many times are cars restored where costs exceed their final value. car prices have definitely come down, but of which cars? A Chevy Fleetmaster, or Austins, Morris, but not premium cars. Unrestored 170V is still quoting 9L. It also depends if the sale is a distress sale, if not then hold on. Good cars did go over the roof, but prices have really not crashed, and certainly not to pre boom levels. I would say Ford A prices are an indicator. They had reached around 6L, today maybe 4L, but never 2L as before.
The price is determined at the level where the seller and the buyer want to meet. This level is going downwards, but quality still costs money!
Anyway we always try to hunt for bargains.

Cheers Harit
thanks harit ,
of course,I agree that rare collectibles(INDIAN CONTEXT) will always be quoted at high premiums because of the limited numbers available here and the type of owners who are in possession of them presently.Almost all such cars are already in the hands of collectors and guys who dont want to part with them unless for some dire reason.
another thing which I want to share with you.
I was offere a 1950 170S in running but unrestored condition for 1.5 lakhs in 2006 .since I did not have the wherewithall to own/restore such a car I called up Freddy Turel the benz afficionado of mumbai and send him the photos,etc but he thought it to be not worth the trouble at that time.(the cars petrol engine was changed to matador 305) .later the owners( a humble brahmin priest of a famous temple) was asking me to take it for Rs.100000/-!!!! .I didnt act and the car was purchased for rs130000/- by some local broker who sold it to someone in Bombay for 4.5 lakhs (2007). 2-3months backs Freddy was saying the same car in the same condition was offered to him for ,Rs.900,000/-!!!!!
i have the photos of the car still with me.
also in 2006 my friend sold a 1962 running beetle sedan for Rs.85000/ to a guy in Madras. in 2008 ,he was rejecting offers of 3.5lakhs


so the general economic boom really turned out to be a DOOM for the classic /vintage enthusiast.

NB:I have info and photos of a 1931ballila fiat tourer(restored) which initially was quoting for 9lakhs and now is asking the prospective buyer to quote .
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Old 7th March 2009, 14:23   #11
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Old 7th March 2009, 14:25   #12
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Old 7th March 2009, 14:44   #13
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Originally Posted by DKG View Post
Can someone please get me a Bentley for 5 lacs?
Sure, 1:24 or 1:43? You will even get back some change!!
I think that even before the last boom, there was never a Bentley for 5L. The Dharbanga one was for much more.
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Old 7th March 2009, 14:59   #14
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Originally Posted by ajay99 View Post
thanks harit ,
of course,I agree that rare collectibles(INDIAN CONTEXT) will always be quoted at high premiums because of the limited numbers available here and the type of owners who are in possession of them presently.Almost all such cars are already in the hands of collectors and guys who dont want to part with them unless for some dire reason.
another thing which I want to share with you.
I was offere a 1950 170S in running but unrestored condition for 1.5 lakhs in 2006 .since I did not have the wherewithall to own/restore such a car I called up Freddy Turel the benz afficionado of mumbai and send him the photos,etc but he thought it to be not worth the trouble at that time.(the cars petrol engine was changed to matador 305) .later the owners( a humble brahmin priest of a famous temple) was asking me to take it for Rs.100000/-!!!! .I didnt act and the car was purchased for rs130000/- by some local broker who sold it to someone in Bombay for 4.5 lakhs (2007). 2-3months backs Freddy was saying the same car in the same condition was offered to him for ,Rs.900,000/-!!!!!
i have the photos of the car still with me.
also in 2006 my friend sold a 1962 running beetle sedan for Rs.85000/ to a guy in Madras. in 2008 ,he was rejecting offers of 3.5lakhs


so the general economic boom really turned out to be a DOOM for the classic /vintage enthusiast.

NB:I have info and photos of a 1931ballila fiat tourer(restored) which initially was quoting for 9lakhs and now is asking the prospective buyer to quote .
Hi Ajay,
I am surprised that Freddy left this for 1L.
You mention that there is one now for sale in Mumbai. Any pic? Because I had a Merc 170VD 1952 which we restored and sold to Chennai. It had a Merc Diesel engine but of a later madel. There they changed the colour from blue to black and she came back to Mumbai. She is now for sale at similar price mentioned by you. Maybe somewhere the two cars story got mixed up.
BUT, even now the priced being asked for is too high!!

Cheers Harit
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Old 7th March 2009, 17:48   #15
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Hi Ajay,
I am surprised that Freddy left this for 1L.
You mention that there is one now for sale in Mumbai. Any pic? Because I had a Merc 170VD 1952 which we restored and sold to Chennai. It had a Merc Diesel engine but of a later madel. There they changed the colour from blue to black and she came back to Mumbai. She is now for sale at similar price mentioned by you. Maybe somewhere the two cars story got mixed up.
BUT, even now the priced being asked for is too high!!

Cheers Harit
Freddy left it for Rs.1.5lakhs not 1L.the photos are already there in this thread.also this is not your car.this is 1950 170S and it was single owner and it has a Belgaum number plate.
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