“Thinning out the Herd”

I am not sure what is happening in the old car world but I have talked to several friends of mine who have decided to “thin out the herd”. If you follow the auction sites you have probably seen some of the entire larger collections being sold as well as a few from some serious small collectors. My collection has been as high as 5 vehicles and I sold all of them 9 years ago as I was very sick and didn’t want my wife stuck with disposing of the cars. Other than an illness, I think there are several reasons that are causing people to downsize their collection of cars. Here are a few:

Reason # 1 – The market value has declined on certain cars in the collection

Reason #2 –  The owner’s interest has changed and is now into something else.

Reason #3 – The owner is tired of his collection of Deuces and wants to buy Corvettes.

Reason #4 – The owner wants to keep a few of his favorites and downsize to reduce expenses.

While these are just a few probable reasons for selling, the market will react to major sell offs. Take the Nick Alexander Woody auction a few years ago in Monterey. The market was at its height and Nick sold his premium cars for serious money. The remaining sellers thought their woodies would command the same high price and if the economy had stayed strong, I think they were correct. The economy has caused the Woody market to decrease the average selling price by 35-40 percent. If you purchased your woody as an investment you may be in a loss position if you needed to sell in this market. The bigger question is — will the market come back? Time will tell, but I don’t think so anytime soon. Discretionary income has been diverted to other investments with a more predictable return.

Hopefully, most woody owners won’t react to the market value and love their cars for what they are and not what they are worth. The same is true for any type of old car you have in your possession. Sure it is nice to have purchased Apple or Google in the early stages and realize the profit but you can’t enjoy driving a stock near as much as driving your hot rod.

Stay Tooned!

Lynn

You may grow tired of your 70’s Deuce and want to move up to a 40 coupe. Remember these color combinations?

A true Woody lover spends hours spraying the new wood with 10 coats of varnish. He also made all of the wood.

Having a downdraft paint booth makes a world of difference when spraying the varnish. Note the difference in lighting.

The end result brings big smiles to woody owners. Looks like a Birdseye maple main structure.

Yes, some folks are still building the Deuce. A full feature on this beauty is forthcoming.

How about making your own trim to fit this convert? I like the blue top and matching body.

I have not reinstalled the front bumper but this one makes me want to real soon. I have the layout marked and now for the nerve to cut the hole.

Gary has done what I want to do. He has made wall hangers out of his favorite dashes.

He also owns a stock 33 Ford dash which he hung on the wall. I know a fellow who has dashes from 32-48 finished and hanging on his wall

Tom is standing in front of Steve’s famous 40 sedan. Steve is having some work done and I wish him all the best and a speedy recovery.

Today’s Collector!

I know person who is not downsizing but has decided to add a Deuce to his collection. The convert was mine and I traded it to him for a Deuce phaeton. I now want a convertible to keep Pepe company.

Comments 4

  1. IF YOU EMBRACED THIS HOBBY FOR 2/3 OR MORE OF YOUR LIFE WITH VISIONS OF PROFIT AT THE END YOU MAY HAVE BEEN HAPPIER COLLECTING REAL ESTATE!

  2. With the market being down 35 – 40%, this is the time to take advantage of investing in a Woodie. We did this winter and certainly glad we did!

  3. It appears there is a concommitant decline in overall old car interest too. Old cars have had a good long run. Some additional sell off factors would include: Old age, infirmity/illness, want to be more eco conscious and limit polution, fear of hostile legislation, getting unstuck from the ’50’s and ’60’s….want cars more age appropriate….

  4. I agree 100% on your assesment of woody prices. When they are rodded, they bring a little more. I see them sor sale for $85,000 now. Nick moved with excellent timing. BTW, it was fun to see my dashboards on your great site. Best regards,
    Gary

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