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muscle car prices
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Hi Colin:
I subscribe to Sports Car Market and was intrigued by the Keith Martin's conclusions about muscle car prices in the latest issue. I suspect you'll agree with his assertions that the market is/has cooled for vehicles with less than stellar pedigrees and Mopar prices in general. What I found interesting was, and I may be wrong, what he wrote about muscle car collecting being an almost exclusively American phenomenon. I'm not using his exact words but that was the essence of his conclusion. I'm curious, as a collector and dealer, what you think of the future of muscle car collecting both from a financial point of view and from a geographic point of view too. Now, one important caveat. I suspect this subject is going to wear out a lot of keyboards on this and other sites. So, let me say, first of all, that this is a purely intellectual question. I'm not a collector and I'm not looking to get in or out of the "market". I do own two cars I plan to keep, the 71 BFG Tirebird, and the 86 Grand National.
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njsteve
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(Carpal Tunnel)
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08/13/07 08:23 PM
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Re: muscle car prices
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I would say that it is an inherently American thing because the musclecars are inexorably linked together with the era in which they arose. The rise and fall of the musclecars can be tracked right alongside the era of Viet Nam War and general American discontent with the "establishment." Musclecars were a statement of freedom: the purchase of unbridled horsepower in an age where those making up its intended market weren't sure if they'd be alive tomorrow. This type of general discontent was not as prevalent in any other country at the time.
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Re: muscle car prices
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I guess the thousands of europeans who only own one American musclecar, are not considered to be collectors. But there are guys over here who own five or more.
National Geographic once stated:"Sweden is more Americanized than America itself". And I would say that collecting the American musclecar is not uncommon to us.
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Re: muscle car prices
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Quote:
I guess the thousands of europeans who only own one American musclecar, are not considered to be collectors. But there are guys over here who own five or more.
National Geographic once stated:"Sweden is more Americanized than America itself". And I would say that collecting the American musclecar is not uncommon to us.
What's their problem with Oldsmobile muscle?  
Patrick
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SMGCO
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(enthusiast)
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08/16/07 10:15 PM
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Re: muscle car prices
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Quote:
I would say that it is an inherently American thing because the musclecars are inexorably linked together with the era in which they arose. The rise and fall of the musclecars can be tracked right alongside the era of Viet Nam War and general American discontent with the "establishment." Musclecars were a statement of freedom: the purchase of unbridled horsepower in an age where those making up its intended market weren't sure if they'd be alive tomorrow. This type of general discontent was not as prevalent in any other country at the time.
Nicely and accurately said.
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Re: muscle car prices
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it's also nice to hide 500k of pre tax income in a 37 year old car.
so what if you lose 50 grand when you dump it a year later,you didnt pay the IRS 250k
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Re: muscle car prices
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Quote:
it's also nice to hide 500k of pre tax income in a 37 year old car.
so what if you lose 50 grand when you dump it a year later,you didnt pay the IRS 250k
Not only will you "only lose 50K when you sell it", you will also now have 450K of income[even though you lost money !]that you cant claim a cost basis against since you paid for the car in cash.And thirdly its against the law. Somehow none of the three sounds like a good option.
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Re: muscle car prices
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Does anyone know where the results of the last russo steele auction are posted??
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Re: muscle car prices
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Quote:
Not only will you "only lose 50K when you sell it", you will also now have 450K of income[even though you lost money !]that you cant claim a cost basis against since you paid for the car in cash.And thirdly its against the law. Somehow none of the three sounds like a good option.
youre assuming that any of this transaction would be disclosed,right? 
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Re: muscle car prices
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Quote:
Does anyone know where the results of the last russo steele auction are posted??
If you are referring to 07 Monterey, check here but does look like they have posted numbers yet.
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Re: muscle car prices
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It's a better strategy to build the tax effect into your price, pay the correct amount, and go on with your life - sure beats looking over your shoulder. Keep in mind, fraud has no statute of limitations!!!
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Hylton
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(old hand)
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08/28/07 09:28 AM
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Re: muscle car prices
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Quote:
.... Keep in mind, fraud has no statute of limitations!!!
Are you sure about that Marlin? I hope so but the way some of these guys have been operating, you'ld think otherwise.
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njsteve
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(Carpal Tunnel)
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08/28/07 11:05 PM
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Re: muscle car prices
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Tax fraud essentially has no statute of limitations because the statute of limitations runs from the time it is first discovered by the IRS and not when the person originally committed it.
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Re: muscle car prices
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Exactly. The IRS will not allow fraud to have a 'life' of it's own, only the 'life' they give to it after they find it! 
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Hylton
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(old hand)
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08/30/07 11:08 AM
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Re: muscle car prices
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Sure but what about consumer fraud? Assuming the person who had commited the fraud paid his taxes on the illegally acquired gains, the IRS has nothing to do with the actual fraud act.
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Re: muscle car prices
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Then it's not tax fraud.
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