Musclecar prices and the possible recession

[32KZ]

That's funny!

On a good note, not out of Jameson and Guiness at the stores, 1st floor remodel full steam ahead, my Camaro is still worth more then it was fifteen years ago, according to Haggerty anyway. Sucks 814 alternators aren't coming down in price. I guess not accepting tp rolls as barter just quite yet. Heard a big sale on hand sanitizer down in Tennessee. Eighteen thousand bottles need gone quick??

[JoeC]

I heard on the local news that some people who "over purchased" are now donating some items to those in need

[70 copo]

uo7HB-slsm4

[Zedder]

I guess some find this situation funny...

I laid off 20 people today...retail customers keep cancelling orders for store fixtures. Likely will lay another 20 off next week and be totally shut down by the end of the month. The 65 year old woman crying in my office was the most difficult part. Her retirement investments are in the shitter and now she has no job. I hope this doesn’t last more than a few months or a company that has been in business since the 1920’s might go under.

[427TJ]

I guess some find this situation funny...

I laid off 20 people today...retail customers keep cancelling orders for store fixtures. Likely will lay another 20 off next week and be totally shut down by the end of the month. The 65 year old woman crying in my office was the most difficult part. Her retirement investments are in the shitter and now she has no job. I hope this doesn’t last more than a few months or a company that has been in business since the 1920’s might go under.

Sorry to hear that Mark. The next two weeks will be crucial as to how the virus effects us here in the U.S.

[70 copo]

Sorry to hear that Mark. The next two weeks will be crucial as to how the virus effects us here in the U.S.

Absolutely.

Beaches in Florida are packed today with spring breakers.

Taking it seriously will definitely flatten the curve.

[Lynn]

I guess some find this situation funny...

I laid off 20 people today...retail customers keep cancelling orders for store fixtures. Likely will lay another 20 off next week and be totally shut down by the end of the month. The 65 year old woman crying in my office was the most difficult part. Her retirement investments are in the shitter and now she has no job. I hope this doesn’t last more than a few months or a company that has been in business since the 1920’s might go under.

Mark:

This is so sad, and I am sure EVERYONE on this site feels pain for you and everyone else affected.

My whole life, I have dealt with most situations by finding humor (kind of like the Docs in the original MASH movie). It can't help that I grew up reading MAD magazine. It is how many of us deal with difficulty. I know that when guys like me post what we find to be humorous it is simply a coping mechanism. Even when I was going through my prostate cancer journey, I used humor as a diversion. You wouldn't believe some of the things my own family said to me, just trying to be funny. I gave it right back to them.

I assure you, no harm is intended.

Our son JUST started a new job and got the word today that they are now closed for at least four weeks. Both of his room mates are also in the service industry, and got the same messages today. They are all three in their 20's and don't have a lot of savings to fall back on. Our non-profit (the museum project) is having to reschedule our FIRST fundraiser because the Oklahoma History Center (where we were planning to gather on April 21) is closed. Our keynote speaker is the Lt. Governor. Now I have to try to get his schedule aligned with the History Center schedule, and most all of the fall dates are already taken.

Even in all of this, the jokes will be flying in our household. That is just how we deal with it. I hope you understand that.

On another note with regard to this: "Her retirement investments are in the shitter..." I honestly believe things will bounce back. Yes, there will be some businessis that don't survive; but most will. The markets were overdue for a correction anyway; they just way over corrected. The underlying strenght of the U.S. and Canada will pull us right through. In time, we will be even better off. Easy to say, but keep your head up buddy. I would hate to be in your shoes having to lay off the good and decent folks who work for you. I am certain it just breaks your heart.

[Zedder]

Thanks guys. Listen, this is just financial at this point and we all can deal with that with time. The real hardship is still coming when we lose friends, colleagues and loved ones. Let’s just pray that our medical folks find something to lessen the impact of this virus sooner rather than later...

[Crush]

Mark:

This is so sad, and I am sure EVERYONE on this site feels pain for you and everyone else affected.

My whole life, I have dealt with most situations by finding humor (kind of like the Docs in the original MASH movie). It can't help that I grew up reading MAD magazine. It is how many of us deal with difficulty. I know that when guys like me post what we find to be humorous it is simply a coping mechanism. Even when I was going through my prostate cancer journey, I used humor as a diversion. You wouldn't believe some of the things my own family said to me, just trying to be funny. I gave it right back to them.

I assure you, no harm is intended.

Our son JUST started a new job and got the word today that they are now closed for at least four weeks. Both of his room mates are also in the service industry, and got the same messages today. They are all three in their 20's and don't have a lot of savings to fall back on. Our non-profit (the museum project) is having to reschedule our FIRST fundraiser because the Oklahoma History Center (where we were planning to gather on April 21) is closed. Our keynote speaker is the Lt. Governor. Now I have to try to get his schedule aligned with the History Center schedule, and most all of the fall dates are already taken.

Even in all of this, the jokes will be flying in our household. That is just how we deal with it. I hope you understand that.

On another note with regard to this: "Her retirement investments are in the shitter..." I honestly believe things will bounce back. Yes, there will be some businessis that don't survive; but most will. The markets were overdue for a correction anyway; they just way over corrected. The underlying strenght of the U.S. and Canada will pull us right through. In time, we will be even better off. Easy to say, but keep your head up buddy. I would hate to be in your shoes having to lay off the good and decent folks who work for you. I am certain it just breaks your heart.

These are sage words. I have 5 kids in their mid to late 20’s and I have found myself really having to stay positive and solution oriented with them.Like many on this site our age has given us lots of scare tissue from economic events. Wars, recession etc. They will continue to plague our society at importuned times. As such we must pull together because this to will pass. I find strength in friends, family and faith during these times. I trust this group will lead from the front during this and this thread, in less then 8 weeks,will be much different!

[Lynn]

Here here!!

[Lynn]

I would hope we can all be respectful of others opinions. This will likely get worse than it is right now before it gets better. Personally, I think much of what is being done in Oklahoma is an over reaction. But, I am willing to go along.

Personally, I also don't think the U.S. and Canada will experience much loss of life. However, I certainly respect those who believe we will. None of us has a crystal ball.

[Hotrodpaul]

The machine shop I used to run here in Tomball Tx just laid off the night shift and reduced the rest of the employees to 32 hr/week. I am sure the layoffs are coming in the oil sector as well. All this has a trickle down effect on the economy with people in survival mode not willing to spend money on unnecessary items. I still think the right muscle cars are good investments if purchased properly and the Porsche 911 market has been doing well. Personally, If I find the right car, I restore it to relive the time when it was new, and to remember my youth. If the value improves, that's just icing on the cake...

[EZ Nova]

I guess some find this situation funny...

I laid off 20 people today...retail customers keep cancelling orders for store fixtures. Likely will lay another 20 off next week and be totally shut down by the end of the month. The 65 year old woman crying in my office was the most difficult part. Her retirement investments are in the shitter and now she has no job. I hope this doesn’t last more than a few months or a company that has been in business since the 1920’s might go under.

Mark sorry to hear that. I too run a small family owned/FINANCED company in SW Ontario. Supposedly the governments are putting something to help us out, as well as regular people/employees. Were more building-trade oriented and Ford says construction site will stay open. My staff is asking for short days or a 2 week shutdown? I too can't really afford a 2 month closure or shortage as the "extra" $$$ that are in the markets has been lost.

We are looking at stuff basically as it goes. Will talk to staff Friday afternoon for next week stuff. I have maybe picked up to more jobs sites this week. Met with 1 builder yesterday as he's not too happy with current supplier, so gave us a shot to quote it. And meeting a new builder probably Friday for another site.

But the government is supposed to be rolling out some financial help. Lets see where it goes. Maybe that can help both you and your employees enough to just scrape by till the turn around comes.

[Zedder]

Thanks EZ. Best of luck to you and your employees too!

[markinnaples]

Here are the latest raw numbers regarding the CV-19 illness across the globe.

[Crush]

We will recover

https://www.google.com/amp/s/amp.cnn.com/cnn/2020/03/18/entertainment/tom-hanks-rita-wilson-coronavirus-update/index.html

[72heavychevy]

Here are the latest raw numbers regarding the CV-19 illness across the globe. I'm not sure why a fatality rate of approximately 0.04% is enough to justify these draconian measures that we're seeing being implemented. This is going to cripple a lot of the country. Any number of deaths is unfortunate, and I pray for those ill and those who've died, but in hard numbers I can't see how this is different than any other airborne virus/flu strain.

FYI those numbers you posted show a 4% fatality rate...that's pretty drastic difference from 0.04%

[Lee Stewart]

The death rate from seasonal flu is typically around 0.1% in the U.S

If the death rate was for same for CV19 as it is for seasonal flu then only 203 people would have died, not 8141. Let that sink in for a moment to understand why flattening the CV-19 curve by social distancing, business closures and staying at home are so important

[markinnaples]

FYI those numbers you posted show a 4% fatality rate...that's pretty drastic difference from 0.04%

Ha, you're right, of course. I relied on my math-challenged business partner who shared the calculation with me earlier. I really should have known to check him, lol, thanks for the correction.

[70 copo]

US Border with Canada now closed.

[Steve Shauger]

The death rate from seasonal flu is typically around 0.1% in the U.S

If the death rate was for same for CV19 as it is for seasonal flu then only 203 people would have died, not 8141. Let that sink in for a moment to understand why flattening the CV-19 curve by social distancing, business closures and staying at home are so important




One variable not factored in to US statistics are the # of people who are infected that have not been tested (due to lack of kits or symptoms). Hopefully the death rate will drastically drop.

[Tenney]

In prep for letting folks return to action, maybe screen for “everything”? This would identify and alert those w/vulnerable conditions of all ages who should still lay low.

https://health.gov/myhealthfinder/topics/doctor-visits/screening-tests/get-screened

[the427king]

Cant understand why they keep saying the infection rate is going up by the day , when they are now testing and thats obviously why ...did they expect it to go down with testing ???? the good thing is, the more people that are infected really the better for the fatality rate they are claiming is 3% now.

[70 copo]

One of the Restaurants here in town had kept a large area for car hops in the rear about 30 spots in total.

The owner closed for a day and maintained all of the vintage ordering apparatus and put 15 of the stalls back in service right away.

Packed today with cars. What is old is new again. Life goes on. We adapt.

[BJCHEV396]

Idiotic Video link deleted per member request!

[70 copo]

Sorry,I dont get it!

I think you can contact the two guys who did the spoof video and let them know.

The social dynamic and what triggers certain people is interesting however.

It is a reflection on the social fabric of our society.

We will adapt.

We will overcome.

The World is not ending.

Give the TV a rest.

[BJCHEV396]

Stop giving the idiots who made the video exposure.

[70 copo]

Stop giving the idiots who made the video exposure.

Ok I agree.

Why not go and edit your quote to remove it.

That action will get it off this page of the thread and will minimize eyeballs on it.

[Tracker1]

Italy bumbled the response out of the gate, their population mostly ignored government calls for social distancing and are now facing 7% mortality rate...SEVEN PERCENT! Stay home, we gotta get this down by the neck and choke it out.

https://www.ccn.com/coronavirus-death-rate-soars-to-7-in-italy-is-america-next/

[70 copo]

Absolutely, we can learn from the actions of the mayor of Florence.

The hug a tourist event was pretty over the top.

[Mr70]

Clearwater Beach Florida today.
https://mashable.com/article/coronavirus-clearwater-beach-florida-social-distancing/

[Billohio]

Sad thing in that picture, not all are college kids. If people are not smart enough not to go, they should close the beach. Florida had 4 cases when I left a week ago and now over 300. There seemed to be several along the west coast.

[Lynn]

Italy is over 8% death rate now.

The U.S. is at 1.5%

Canada at 1.3%

[Lynn]

Just my opinion, but I would like to see two different threads going here.

One should be limited to just how the recession will affect classic car prices.

The other, just a general discussion on Covid19. I have chimed in here two or three times, but I never once mentioned my classic car values. I don't really care about that, as I bought none of them as an investment.

I don't expect a mod to try and separate this one out, as I am guessing it would be way too time consuming. Maybe close this one and direct traffic to two new ones?

Just thinking out loud.

[70 copo]

Lynn,

I think it all really hinges on the economy and the kind of shift in the economy when it returns.

Whatever it becomes, I suspect or reliance on China becomes less over time in several key areas.

If that translates into good paying blue collar/white collar jobs with higher wages then that may be very good news for the hobby.

[markjohnson]

I feel similar about not caring about the worth of my musclecars because they were never investments to me. What I do care about is just being alive & healthy to enjoy them.

[Charley Lillard]

I'm sure musclecars will be affordable to more people now. I doubt if I could break even on my 66 Chevelle or 66 Bonneville now.

[Lynn]

Yeah, Charley, but they are no less beautiful, fun to own and fun to drive, right?

[Charley Lillard]

They just sit.

[Steve Shauger]

Just my opinion, but I would like to see two different threads going here.

One should be limited to just how the recession will affect classic car prices.

The other, just a general discussion on Covid19. I have chimed in here two or three times, but I never once mentioned my classic car values. I don't really care about that, as I bought none of them as an investment.

I don't expect a mod to try and separate this one out, as I am guessing it would be way too time consuming. Maybe close this one and direct traffic to two new ones?

Just thinking out loud.



I started a Corona Virus Discussion thread here: https://www.yenko.net/forum/showthread.php?p=1489317#post1489317

[Xplantdad]

You could move my post over if you'd like :)

[Steve Shauger]

You could move my post over if you'd like :)
Last time I attempted some creative thread redistribution I somehow deleted Rick Nelson's Yenko Chevelle thread. I felt horrible!!! Btw I love Holly's input in your post.

[the427king]

Its a catch 22.....when economy is great and people have money,cars are expensive.When car prices come down because of a recession,lower stock market, or job reports etc, the people that couldnt afford them when they were expensive, still cant afford them because now they either lost thier job, or make less money,have less savings , and the drop in price to them is irrelevant ............The cars in a recession may be less expensive, but only the people that could have bought them pre recession can afford them

[Lee Stewart]

Its a catch 22.....when economy is great and people have money,cars are expensive.When car prices come down because of a recession,lower stock market, or job reports etc, the people that couldnt afford them when they were expensive, still cant afford them because now they either lost thier job, or make less money,have less savings , and the drop in price to them is irrelevant ............The cars in a recession may be less expensive, but only for the people that could have bought them pre recession.

And that group has shrunk due to the devastation to the stock market. Same amount of cars for sale - smaller amount of available buyers

[the427king]

Ive always said you dont need 400 people to want your car to sell it, you only need one...
two if your at an auction LOL

[Lee Stewart]

https://i.postimg.cc/wBQx38c7/screenshot-7729.png (https://postimages.org/)

[Lee Stewart]

https://i.postimg.cc/hPqqnXTc/screenshot-7742.png (https://postimages.org/)

[Lee Stewart]

https://i.postimg.cc/KzNtYkjw/screenshot-7744.png (https://postimages.org/)

[Rumbleguts396]

Spring carlisle and auction rescheduled

[70 copo]

Yes had the feeling that one was coming.:frown:

[the427king]

https://www.yahoo.com/entertainment/drive-in-movie-theaters-coronavirus-144712828.html A good thing.

[RPOLS3]

Spring Jefferson cancelled

[JoeC]

"51st Annual CSRA Spring Swap Meet
May 3, 2020
Attention, Attention. Due to the Chinese Virus we have had to cancel our Spring Swap meet. It will be back on for next year, the first weekend in May. "


I have been going to this swap meet for over 40 years and got a lot of cool stuff there so will miss going this year

[Lee Stewart]

Where the Chips Fell at RM Sotheby’s Palm Beach Online Auction

Last Friday and Saturday were the final two days of RM Sotheby's annual Palm Beach collector car auction, which was moved to a virtual online auction room following social distancing guidance from authorities. How were the auction results? All told, not at all horrible given the current economic uncertainty and the last-minute format change. RM Sotheby's sold 69 percent of its inventory, and while that's not a strong figure in a typical collector car auction, this sale was anything but typical.

Of interest, RM Sotheby's notes that it had nearly 900 registered bidders for the auction, which is claimed to be 23 percent more bidders than the average in-person registration for the past four RM Sotheby's Palm Beach auctions. Some 36 percent of those bidders were new to RM Sotheby's, which means this online sale helped reach out to buyers who don't frequent traditional live classic car auctions. We'd guess there were also a fair number of folks looking for bargains. Though many cars failed to meet even their low-end pre-sale estimates, it seems that classic mid-century American cars from the '40s, '50s and '60s, along with pre-war cars, were the hardest hit with many going unsold. We'll venture that buyers for those cars are fewer and fewer, and buying a car online just isn't for septa- and octogenarians. Here are seven cars that caught our eye and will help shape the 2020 collector car market going forward.

https://www.msn.com/en-us/autos/enthusiasts/where-the-chips-fell-at-rm-sothebys-palm-beach-online-auction/ar-BB11XLre?ocid=spartanntp

[Tenney]

^^ Bring an RM! ^^

[RSSSfan]

One variable not factored in to US statistics are the # of people who are infected that have not been tested (due to lack of kits or symptoms). Hopefully the death rate will drastically drop.


I know this post was made a couple of weeks ago, but a thought occurred to me in reference to comparisons of COVID19 to H1N1. Yes, the fatality rate for CV19 will probably drop because more mild cases will be disclosed through testing, but how many H1N1 cases also went undetected? I don't recall a big push for widespread H1N1 testing back in 2009 (although that was ten years ago, so maybe I'm just not remembering it). So I guess my point is that it may not be a valid comparison, since we don't really know how many undetected, relatively mild cases of either illness there were/are. However, I have read that CV19 has a mush higher transmission rate, i.e., much more contagious, and the fact that a person can walk around spreading it for days before feeling any symptoms makes it very insidious and sneaky. I think that's what makes it so dangerous.

[RSSSfan]

Getting back on track with the hobby, too bad we can't figure out a way to park our cars ten feet apart for a cruise and practice social distancing that way. Just won't happen. I just want this to be over...

[GrumpyJeff]

Getting back on track with the hobby, too bad we can't figure out a way to park our cars ten feet apart for a cruise and practice social distancing that way. Just won't happen. I just want this to be over...
I know I'm getting a little off topic , but I've actually been getting my cars out on a more regular basis, during this down time . Even if its just for short solo cruises with no particular place to go. And with way less daily traffic locally. I've been noticing way more Muscle Cars & Hot rods out just Cruising as I am . I guess I'm not the only one using my Car for a little Solid lifter / 4speed escapism ?

[njsteve]

Maybe this will actually bring back more cruising events instead of parking? Imagine Van Nuys Blvd opened up for a televised rolling cruise night just to raise the morale of all the isolated Boomers out there? :-)

[TimG]

The NCRS Nationals in Indiana have been cancelled. It would have been a wonderful event. They were mid July, but all the Chapter and Regional meets up to the Nationals were cancelled, so many cars couldn't qualify for Nationals.

[Lee Stewart]

Mecum’s 2020 Indianapolis sale rescheduled for June

Mecum Auctions is rescheduling its flagship Indianapolis sale, originally scheduled for May 12–17, 2020. In an emailed statement, Mecum explained that it would not be holding any live, public-venue auction in April or May this year, ostensibly in light of safety precautions surrounding the spread of COVID-19.

“Planning efforts are focused now on ramping up to proceed with planning for live events in June with the understanding that additional changes may be necessary for reasons outside of anyone’s control,” Mecum said.

The Indy 2020 sale is being rescheduled for June 23–28 at the same location—the Indiana State Fairgrounds. Headline cars from that sale include the winningest Corvette L88 race car of all time and the first 1965 Shelby GT350R prototype.

https://www.hagerty.com/articles-videos/articles/2020/04/02/mecums-2020-indianapolis-sale-rescheduled-for-june

[A12pilot]

By the time MCACN comes around, it could be the first show we all get to go to when this whole ridiculous nonsense is over! Think of the attendance!!:eek2::eek2::eek2:

I’ll see you’s guys at happy hour....5pm...Embassy Suites big room!:beers::beers::beers:

Cheers:beers:
Dave

[70 copo]

By the time MCACN comes around, it could be the first show we all get to go to when this whole ridiculous nonsense is over! Think of the attendance!!:eek2::eek2::eek2:

I’ll see you’s guys at happy hour....5pm...Embassy Suites big room!:beers::beers::beers:

Cheers:beers:
Dave


It will be grand. The issue forcing many cancellations here in Ohio right now is getting event insurance coverage.

[x33rs]

Getting back on track with the hobby, too bad we can't figure out a way to park our cars ten feet apart for a cruise and practice social distancing that way. Just won't happen. I just want this to be over...

I was just at the dragstrip a couple weeks ago for some fun runs on test and tune night, and I was told by the track officials that as far as they know, this beer virus wouldn't be affecting them. Now whether or not that has changed in the last week or so I don't know, but while I was there, it was business as usual and pretty crowded.
Made sense to me, since you're basically isolated in your car anyway. We were there for 6 hours racing and never came in close contact with anyone.

Not sure if a car event or cruise would be any different but they have postponed every other car event here half way through May.....so far...and that could be extended further.

But for some reason they are keeping all the golf courses open...go figure.

[bashton]

By the time MCACN comes around, it could be the first show we all get to go to when this whole ridiculous nonsense is over! Think of the attendance!!:eek2::eek2::eek2:

I’ll see you’s guys at happy hour....5pm...Embassy Suites big room!:beers::beers::beers:

Cheers:beers:
Dave

And being that Dave is an Official Ambassador of the MCACN show, he has agreed to buy at the Embassy! (for all registered guests) Such a great guy...

Bashton

[mssl72]

I was just at the dragstrip a couple weeks ago for some fun runs on test and tune night, and I was told by the track officials that as far as they know, this beer virus wouldn't be affecting them. Now whether or not that has changed in the last week or so I don't know, but while I was there, it was business as usual and pretty crowded.
Made sense to me, since you're basically isolated in your car anyway. We were there for 6 hours racing and never came in close contact with anyone.

Not sure if a car event or cruise would be any different but they have postponed every other car event here half way through May.....so far...and that could be extended further.

But for some reason they are keeping all the golf courses open...go figure.

I've heard that a mixture of burning rubber and high octane exhaust kills all viruses, so racing shouldn't be an issue! :3gears:

[x33rs]

I've heard that a mixture of burning rubber and high octane exhaust kills all viruses, so racing shouldn't be an issue! :3gears:

:biggthumpup:

[Rumbleguts396]

Spring Carlisle swap meet rescheduled again. Pushed out to June. Rob

[70 copo]

Smart Move. At least they did not cancel.