The future of old, classic cars

65Camino · Uber Guru

The future of old, classic cars

65 SD L79 · Canadian Poncho Superstar!

convered to electric motors

crazytrain · Addicted!

with the government pushing electric cars i'm sure it won't be long before they make it impossible to put old classics back on the road

bjburnout · Uber Guru

Hagerty Insider

Sunday, November 15

Federal Reserve chairman Jerome Powell warned last week that some of the changes brought on by COVID-19 will be enduring. We're recovering, but to a different economy,? he said.

The same can be said of the collector car market. The top-line numbers are remarkably stable? There were minimal value changes in the most recent Hagerty Price Guide, and our insurance data actually shows a slight increase in private sales. Yet there's no doubt the ways we buy, sell, and enjoy cars changed in 2020. The shift away from in-person auctions and toward online platforms, which seemed ad hoc last spring, now looks profound; the internet has accounted for more than two-thirds of auction dollars spent since April, compared to less than 10 percent prior to that. Even the mighty Scottsdale auctions will likely bow to this new order. Barrett-Jackson, RM Sotheby's, and others plan limited-attendance January sales but will be relying more heavily on remote bidders.

Those big shifts have trickled down to individual collectors. Some of you have told us you look forward to attending live events again or already have. Others have no intention of doing so until there's a vaccine. Perhaps, like me, you've traded weekends at cars and coffees for lunch hours wrenching in your garage (my cars, like my dog, are happy to have me working from home).

MC · Canadian Poncho Superstar!

I think collector cars will be around as long as the people who care about them are.

Things may change regarding mainstream vehicles - if everything goes electric (or hydrogen/electric), but like horses, there will always be a hobby use for antique/collector cars. Perhaps the way we use them will be different, and perhaps fuel will be more difficult to get, but I don't see historical vehicles going away until people no longer care about them. JMHO.

cdnpont · Canadian Poncho Superstar!

They'll likely stay around, but new and tougher rules will probably come into effect for existing cars already on the road. And as always, there will be some extra environmental taxation and increased insurance rates.

When this electric legislation comes into effect, all existing fuel cars will likely grandfather with an eventual phase out of any cars built after a certain date, but modified builds of classics not currently certified might get held back.

Imop all stock vintage up to the cutoff should stay strong, even increasing in value.

4SPEED427 · A Poncho Legend!

Imagine the economy if the classic car market died. A lot of us spend a lot of our spare cash building and maintaining our cars.

Canadian Poncho · A Poncho Legend!

I suspect there will be mandatory Collector Plates or something similar required with mileage restrictions for all cars over a certain age.

65Camino · Uber Guru

MC wrote:
I think collector cars will be around as long as the people who care about them are.

This is part of what Im thinking. We are not getting younger. Are our kids actually taking a liking to these ?

For me the same money Id rather buy a newer car. Unless I can drive it everyday wherever theres no appeal. Watched an auction for a green GTO Judge convertible on Bring a trailer and wondered why anyone would pay $79,000 for it. Much less it didnt meet reserve.

bjburnout · Uber Guru

We have a 39.5 acre farm here, all flat. I have already mapped out a road course, oval, drag strip and pit lane.

Now we just have to pickup that 40 mil lottery win and the paving will begin.

Then I won't ever have to worry about restrictions driving on public roads.......... biggrin biggrin

-- Edited by bjburnout on Sunday 15th of November 2020 02:22:58 PM

65Camino · Uber Guru

bjburnout wrote:

We have a 39.5 acre farm here, all flat. I have already mapped out a road course, oval, drag strip and pit lane.

Now we just have to pickup that 40 mil lottery win and the paving will begin.

Then I won't ever have to worry about restrictions driving on public roads.......... biggrin biggrin

Ill have to come by and visit next time Im in Lucknow.

Greaser · Canadian Poncho Superstar!

Don't give up hope about there being a lack of interest in classic cars.

Maybe so for the Boomers, but the younger generation is showing some love for them.

"Of the Millennials surveyed, 57% expressed interest in owning a classic car,

and so did 53% of the Gen Zers surveyed.

About half of Gen Xers (49%) also showed interest in classic cars,

while numbers for Boomers (33%) and the Silent Generation (19%) were much lower."

Oct 12, 2020

https://www.motorauthority.com/news/1129921_survey-says-millennials-and-gen-z-care-about-classic-cars-after-all#:~:text=Of%20the%20Millennials%20surveyed%2C%2057,19%25)%20were%20much%20lower.

DonSSDD · Canadian Poncho Superstar!

I doubt old cars will get outlawed. If you look at the old mechanical brake vintage cars, they have really lousy brakes, lousy headlights, no signal lights, probably many have no brake lights, their taillights are pretty much useless, they have no safety equipment at all, yet there has been no move to outlaw them. These old cars are likely losing their value because the people who grew up with them are no longer alive and the number of young people who want them is limited?

All our old cars who get restomoded in the future and that will start to include electric. Not many people today can deal with a carb? They want fuel injection and an automatic transmission. Once we are dead, we will cease to care about old cars.

).

Pontiacanada · A Poncho Legend!

... like the future has been pertaining to the collecting of sports cards.
Collectible cars have spiked in popularity years ago and will wane in years to come.

Urban_suburban · Poncho Master!

I am not sure what the future holds. I have been in the hobby since I learned to walk or perhaps even before. I have seen the shift in cars. Our 64 was a nothing car back in the day when we used to start going to shows. It was all the early iron cars that were the main event. I think back to those days and sadly the morbid thought enter my mind that all those lovely retired couples have all likely passed and a good number those cars likely passed over by the survivors that just looked at them as a worthless old car and so they were sold off to become hotrods and what not. This is still happening. Our 64 is as popular as hell now but not for what it is in most cases but that it can be a foose resto-mod or lay it low or how high can it bounce. I think the future generations will dictate what happens to the hobby. Since most have no connection with them they will mostly get cut and hacked into the present day trend at the time. I am sure some degree of the hobby will exist because of the economic benefits. As someone who appreciated numbers cars ( as well as customs also) it scares me think how many really nice cars are disappearing already and I think its going to continue. Also we see the shift in what is collectible. I had an 86 caprice class if and loved it. Thought I would get another one... not likely I can get a nice 50s or 60s four door car for way less and look much cooler