• Hi Guest!
    If you appreciate British Car Forum and our 25 years of supporting British car enthusiasts with technical and anicdotal information, collected from our thousands of great members, please support us with a low-cost subscription. You can become a supporting member for less than the dues of most car clubs.
    There are some perks with a member upgrade!
    **Upgrade Now**
    (PS: Subscribers don't see this gawd-aweful banner
Tips
Tips

Interesting piece on NPR this morning

Share this page

Randy Harris

Randy Harris

Jedi Warrior
Offline
An interesting discussion on NPR today about Baby Boomer's increasing obsessions with automotive toys, especially and most specifically classic cars of their youth.

The gist of the piece is that large numbers of Boomers are now empty nesters with kids finally out of college (that happened for me a number of years ago, but I agree with the premise) thus, a great deal of disposable income is chasing toys. Many were burned badly in the stock market a few years ago (yep, I can relate!). They have realigned their portfolios to reflect their need to see their money in tangeable assets. The net affect of this boom in Boomer spending is the historic run up in collector car prices, at auction and over ebay. The implication was there is no end in sight to the runup and that one should get'em while the gettin is good. This bodes particularly well for us Healey and Jag guys who already have their dream machines. These were iconic sportscars for most of us in the '60s and now they're items of great desire by a generation of well-heeled wannabe collectors. Nothing new here, just interesting to hear it over the airwaves.
Randy '66 BJ8, '68 E-type OTS /ubbthreads/images/graemlins/driving.gif
 
I heard that piece also. I did think of you Jag and Healey owners as they mentioned that some collector cars were selling in the $35k+ range. I thought that was a bit high for most American iron and more in line with your cars. By comparison, I have cars in the "cheap seats", but they're still collector cars. For me, this is a hobby, not an investment.
 
Yes, I also caught that piece. Frankly, I think our cars are a relative bargains. I'm alwys amazed when watching "Antique Roadshow" over what seem to be extraordinary values for some of the pieces of furniture...often 6 figures! How can an antique wood cabinet be worth more than an Austin Healey?
 
I didn't catch the piece on NPR. But it leads right into something I saw in the 11/05 issue of Automobile magazine p 115 - a sale at auction of a 1957 Austin Healey 100-SIX for $35,200. But the pic caught my eye, not a standard healey color, and then the author write-up included "odd shade of paint.Cosmetic restoration in addition to...recent mechanical work... Interior shows minor wear. Decent panel fit. Passenger door handle oxidized... Attractive overall. The 100/6, like the Porche 356B, is unloved variant caught between the striking earlier 100/4 and the sleek, powerful 3000 series that came later. However, a 3000 in the same condition will cost at least $50,000., so the new owner of this car sacrificied a little performance ands saved a lot of dough". These were the authors comments.
I am tempted to consider serious offers for my 57 100-SIX, just kidding!!!
jim /ubbthreads/images/graemlins/driving.gif
 
"The 100/6, like the Porche 356B, is unloved variant caught between the striking earlier 100/4 and the sleek, powerful 3000 series that came later."

more powerful yes, but sleek? how is a 3000 more sleek than a 100-6? the only visible difference besides the badge are the disk brakes.
 
[ QUOTE ]
"The 100/6, like the Porche 356B, is unloved variant caught between the striking earlier 100/4 and the sleek, powerful 3000 series that came later."

more powerful yes, but sleek? how is a 3000 more sleek than a 100-6? the only visible difference besides the badge are the disk brakes.

[/ QUOTE ]

Absolutely correct which shows the author doesn't know what he was talking about.

I would say be careful about ever upward movements in prices (in anything not just classic cars) Interest rates have been low and there has been asset inflation in many sectors..property included. We've been here before in the late 80's.. people paying 60,000 to 70,000 pounds for V12 E Type Jaguars...not even rare..not even desirable..look at the prices now.

Be careful same could apply to BJ8s
 
Kind of a double edged sword. The higher the prices go the harder it is for someone to get into the game, that doesn't have a whole lot of disposable income, that wants a decent car for a hobby. Thus jacking up the price of parts cars and restorable cars. The high prices are neat, but if yer not interested in selling, it doesnt matter.
Don't get me wrong. I love my Bugeye and would rather have a 100-4 but could not dream of spending that kind of money. Simple economics for me.
 
greenhornet,i aggee,love what ya got for what it is,i couldnt afford a 'diablo'or 'testa rosa',i dont know if that could make me any happier than what i now have anyway. /ubbthreads/images/graemlins/smile.gif
 
The average Baby Boomer on this list must have extra income or they would not have these "toys". The financial world keeps telling us that the average 48 year old only has $60,000 in the bank for retirement. If this "younger" group does not get into savings, you won't have anybody to sell to when the baby boomers die off!
 
[ QUOTE ]
The average Baby Boomer on this list must have extra income or they would not have these "toys". The financial world keeps telling us that the average 48 year old only has $60,000 in the bank for retirement.

[/ QUOTE ]

Probably true but what they aren.t telling you is he probably also has $500,000.00 in his IRA/C0 Pension Plan.---Keoke- /ubbthreads/images/graemlins/cool.gif
 
$500k Keoke? Forgive my cynicism but, I think not. When 401Ks were introduced I was fresh out of college and was encouraged to invest heavily in the "new" retirement plan. They gave us the great models and predictions of how we'd be able to retire early with a $1M portfolio. Though I've tried to aggressively put money in, some investment avenues were "limited", enrollment periods were blocked for up to 18 months at a time when I changed jobs, and during the dot-com bust I saw my 401K drop 30% in value... from which it has yet to recover.

I'm at the tail end of the boomer generation. Most of my savings are from avenues other than 401Ks and IRAs. I hope that my older siblings have fared better with their "traditional" retirement plans! What's given me the opportunity to work on cars as a hobby has been two incomes and frugal spending before the kids came along. I also don't have high-value car investments! I consider myself extremely fortunate and comfortable compared to some... but I certainly don't have a $500k nest egg in my retirement accounts and I'm pretty close to that age 48 group cited above!

Home equity... I've got that but I certainly wouldn't use it as leverage to buy any car. I think sleeping in a back seat would be most uncomfortable.
 
[ QUOTE ]
I think sleeping in a back seat would be most uncomfortable.

[/ QUOTE ]

Yes. Your mini or GT6 would be nearly as bad, or worse than a Healey...

Perhaps other criteria apply for your car "portfolio"- you've got the "Rec" room (In my case its more of a wreck room)- what about a "living" and/or "bed" room now? /ubbthreads/images/graemlins/confused.gif
 
[ QUOTE ]


Home equity... I've got that but I certainly wouldn't use it as leverage to buy any car. I think sleeping in a back seat would be most uncomfortable.

[/ QUOTE ]

Why not its just setting there doing nothing but depreciating in future dollar value. /ubbthreads/images/graemlins/confused.gif

Yes Nevets, you are right /ubbthreads/images/graemlins/yesnod.gif
 
$60,000 average in the bank?perhaps because guys like bill gates and his almost equally rich multibillion dollar buds bolster that average considerably,taking this relatively small number of people out of the 'average' equation, ill bet the vast magarity of this age group taken as indaviduals would show that most american males have far less then $60,000 liquid in the bank more like 2-12 thousand,and i know many single and married folks in this age group personally that have even less,i also know some people without a pot to throw a turnip in that still godda have thier sports cars,go figgia,so some times its not just the money,its a matter of priaritys,im sure most of you know what i mean,i.e. the guy that has trully needed a new roof on his house for the past ten years,but still drives a brand new vette.i live in north stamford ct.one of, if not the highest taxes in the country,i have a moderate size contracting business with up to 5 employes at any given time,im fortunate to own two homes in this area,and fifty agres of land in up state new york,doesnt sound to bad a porfolio,but i can tell you that according to the sighted statistics [$60.000]liquid in the bank at any given time?heck ill never be able to retire.i dont believe it!!!do i consider my healey as an investment?well look at it this way, if i sell it ill have a little more then i need to be' average' /ubbthreads/images/graemlins/pukeface.gif
 
/ubbthreads/images/graemlins/savewave.gif Well 7777, I am not sure how they come up with that $60,000 figure.However, I do know that the original quote was; I know people who don't own a pot nor a window to throw it out of.----Keoke- /ubbthreads/images/graemlins/hammer.gif /ubbthreads/images/graemlins/laugh.gif
 
keoke,im very glad to see this was just another one of your silly diatribes,i thought in fear you were going to ask to come and live with me!!!!!!! /ubbthreads/images/graemlins/crazyeyes.gif
 
/ubbthreads/images/graemlins/savewave.gif
Well Anthony, I had thought of doing just that until I realized you are property poor.---Keoke--- /ubbthreads/images/graemlins/laugh.gif- /ubbthreads/images/graemlins/driving.gif
 
keoke,and i was ready to give you the larger appartment with water views right across the hall from the flight attendants,oh well. /ubbthreads/images/graemlins/devilgrin.gif /ubbthreads/images/graemlins/yesnod.gif
 
[ QUOTE ]
keoke,and i was ready to give you the larger appartment with water views right across the hall from the flight attendants,oh well. /ubbthreads/images/graemlins/devilgrin.gif /ubbthreads/images/graemlins/yesnod.gif

[/ QUOTE ]

Them flight attendies probably not paying any rent either.---Keoke- /ubbthreads/images/graemlins/laugh.gif
 
Back
Top