Soft. Mature. Chaotic. Driven. Aging. These are the words being used by car market experts, on the Buy Sell Hold podcast, to describe the collector car market today. Like the stock market, values and prices go up and down, and if you plan on being able to time the market and figure out how to make a profit on old cars, well good luck to you.
The most important ingredient for success in the market is a sharp sense of timing.
Ah yes, that age old issue of timing. Without it, a vehicle’s engine wouldn’t run smoothly nor get you where you want to go. Just like a piston’s position and crankshaft angle, and the release of a spark in the combustion chamber near the end of the compression stroke, makes for a smooth running engine, timing the market to try and make a profit on a collector car is not so easy. Unless you’re a pro.
So how do we average enthusiasts figure out when is the right time to buy a collector car?
The time is right when you remove any expectation of future valuation from the buying equation. I know. It’s counter to what most of us think is the right thing to do. However, whether it be the time to buy that collector car you are passionate about, or the time to pass it on to the next caretaker, timing only matters when you say it matters. Or perhaps, it is a forever keeper, never to leave your garage, the key to perfect timing is choosing what you like, what excites you, what you want, and when you are ready to move on.
Once you realize that collector cars are not about what they may be worth down the road…
Your timing is simplified.
Last month I launched a new, weekly podcast with Keith Martin from Sports Car Market titled Buy Sell Hold. Check it out here at Cars Yeah or at Sports Car Market’s website. While you’re there save $10.00 on a subscription with Code BSH.
Hispano Suiza photograph courtesy of Mike Lempert.