Flipping Ek

[mrmojorisin]

I know buying and selling cars with a mark up is the way of the world, but are any of these actually making it into the hands of private buyers.

I've been following 964 and 993 prices for the last 12 months, and you see the same cars time and time again, just advertised at increasing higher prices.

There was a nice white 964 manual coupe sold 4 weeks ago for £55k, its now advertise at £70k, and a good looking 993 cab that was advertised at circa £38k (only a couple of weeks ago) now sitting pretty at £45k. Both cars seemed well sorted so I doubt there have been any costs involved in bringing it back to market.

It just seems that to some extent the market increase seems to be self generated, and the mark ups aren't just a couple of K.

I would have thought anyone buying these cars would be an enthusiast to some point, and not just some casual buyer who woke up one morning and decided to spank £50k on a 25 year old Porsche, just wondering if the bubble will burst at some point.

Just a general musing ..

[Sam]

Prices seem to be up on everything this year.

Houses c. 10% already since Jan.
I paid 39p/m for tile batten in Jan, they now want 60p, so that’s 50%.

It wouldn’t surprise me at all if classics were up 10-15%.

It may or may not end in tears, but we’re actually due a rise, certainly in house prices, as everything has been depressed since June 2016 and it feels to me like cars aren’t yet back to their pre-Brexit peak.

[Tosh]

This time next year, we’ll be millionaires, Rodney
https://www.ft.com/content/747a76dd-f01 ... 69bf2f5a93
(Headline is the story)

[Sam]

What I didn’t mention is that I still have 400m of batten left from my Jan purchase. If it keeps going at 50% every 4 months I’ll be able to sell it and retire in 10 years.

[911hillclimber]

If the prices keep going up they will hit a hard stop?
less and less people will be able to afford it and then the buyer will use their money elsewhere. Sell your RS 2.7 '73 and but 2 Alfas, a country home in France, then have money to do a lot of varied road trips to that home which will, to some extent, appreciate.

One snazzy car, or a lot of experiences.

It will all climax and deflate!
Then repeat etc.

[inaglasshouse]

Dogecoin to the mooooon!

Sorry, wrong forum.

[neilbardsley]

We at work find ourselves discussing this everyday and trying to understand where it is all going. We have had a graduate for 6 months that we have been trying to teach derivative trading too. Good university with a 2.1 physics degree but his mate, that couldn't past the 1st year, is laughing at him because bought some shitcoin. Worrying part is the graduate probably would buy that rubbish too dispite all risk v reward talks. It's the age of the long shot.



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[one-two]

Interesting Neil and familiar from my time in markets. I remember people making lots of money by being right for the wrong reasons. It's also the age of zero interest rates and quantitative easing and that has to show up somewhere. Sometimes it's old cars, sometimes it's something else that's in fashion.

[Tosh]

Ok, sorry to go all Pagoda again
This is an unfinished 1967 resto with a 280 engine but being sold as a 1971

https://www.historics.co.uk/buying/auct ... id=1&pid=1

£94,000 plus auction fees

Chuffing bonkers