Nothing ventured, nothing gained. Without revealing details, I am going to undertake an endeavor that, in all honesty, has almost a zero probability of success, but also has no downside, at least none that I can see. No, I’m not talking about buying Mega Millions tickets because those are not free, although they are not expensive, either. Wish me luck.
This Hagerty article is titled, “5 classics posting the biggest gains in 2022.” I guess it’s bad form to point out that 2022 is only about halfway done.
Here is an interesting passage from the piece: “Some rising stars in this latest refresh illustrated a rubber-band effect in full swing: With the average prices of more popular collector cars still riding sky-high, some enthusiasts and savvy investors turn to parallel alternatives, inflating values of models that weren’t exactly hot-ticket items prior to the pricing surge of their more popular siblings.”
I think you would enjoy the reading the article so I won’t list all five cars. I will tell you that the biggest gainer, according to Hagerty, was the 1977-81 Pontiac Firebird Trans Am Special Edition.
The “rubber-band” effect noted by Hagerty is simple economics. When the price of a good increases, prices of substitute goods also increase. The definition of “substitute” isn’t always clear, however.
I will quickly remind everyone that I believe for the vast majority of people and the vast majority of cars, buying a “collector” automobile should be more of an investment in the quality of life than a financial investment. Of course, no paradigm applies to all situations.
My wonderful wife sent me this link to a piece that includes this picture:
This Top Gear article is about the Ferrari 296 GT3, the company’s 2023 GT race car. I’m sure a street-legal version would have quite the demand even if it’s not a substitute for anything else.
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