DDK - Die Deutschen Klassiker

squirdan wrote:i completely agree with the cost of this versus the cost of doing the work argument

having said that, its always the case. the vast majority of cars sell for less than the bills in the history file if the resto is recent

eg. the Phil Raby one

so that in itself is nothing new

but I guess whats different here is its a brand new fresh resto that looks v well done, so if there is someone out there that wants a yellow T its a no-brainer

if you dont want a yellow T well, on the assumption buying a classic 911 is a matter of choice, taste and passion, rather than cold hard maths...this car is no more attractive than plenty of others I think

tempting to do the arb but as others have said, after costs of currency (hedged or otherwise), insurance, logistics, the cost of the capital (could be doing something else with the £50k), bake in a discount to the selling price to achieve a sale on the day at Essen...the profit opportunity probably isnt quite as good as it looks

but, lets take the £15k on £50k outlay or a 30% return, annualise it, thats pretty spicy, even risk adjusted

So. money talks. Im in for £5k. are there 9 others for a consortium??

dan

squirdan wrote:please tell me where I can borrow at 0% then?

anyway thats not the point...the point is the opportunity cost. I could have that money in a cash ISA paying 2.5%. Or buy some Halfords shares yielding me 7.58% gross

speedy wrote:do people see the bubble bursting in the near future.Looking at aston martins the db6 that used to be around 60k 3or 4 years ago,your now looking at least double that.Whos paying that is it new money from abroad or people here looking for somewhere to put their money.Is there much more scope for early 911s to rise?I remember thinking a 911S at 50k was crazy money.Does anyone see them reaching 100k in the next couple of years?

scalino65 wrote:what happens when these new owners/investors put the rod through the block of a ferrari 250 lusso?

Ferry Man wrote:

scalino65 wrote:what happens when these new owners/investors put the rod through the block of a ferrari 250 lusso?

I was at a petrol station last Sunday. It was a dry, bright and sunny day. And a guy pulls up in a Ferrari 250 Lusso. I've never liked the Lusso myself.
Anyway, it became obvious the only driving this car did was down to the garage for another half gallon of fuel. I could see through the chrome wire wheel spokes and the callipers were spotless, even the discs were spotless. No brake dust, not a mark on it anywhere.
I checked out the paint and it was flawless, the interior like new, the whole car was superbly well restored. Wonderful, like a Faberge egg but bigger and better for your ego.

And, do you know what, I found myself thinking, God that's beautiful. I'd love to own that. And never use it.
It was just special. And I don't count myself as a fan of Ferrari's. Yet those sixties italians....
It's nice to be able to indulge yourself sometimes and if you're very wealthy, then yes, they might just be worth what they are fetching.


PS. I do feel a market price correction is in order.

scalino65 wrote:

speedy wrote:do people see the bubble bursting in the near future.Looking at aston martins the db6 that used to be around 60k 3or 4 years ago,your now looking at least double that.Whos paying that is it new money from abroad or people here looking for somewhere to put their money.Is there much more scope for early 911s to rise?I remember thinking a 911S at 50k was crazy money.Does anyone see them reaching 100k in the next couple of years?

I was at the RM auction a few weeks back and theyhad two DB6s that went for silly money. The message seemed to be "oi, fabulously rich people, you need to park some cash in something called a classic car to sit alongside your other assets in anticipation of "everything" going horribly worng, diversification will help preserve your cash". Which of course is all very logical and all that but what was rather sad was that it wasnt about selling cars to people who loved them,lusted after them, had pictures of them on their wall as small boys,etc. The answer to "which one shall I buy?" seemed to be given as "how much do you need to put into a diverse asset class and we'll find one at that "price"/"cost"/"value" for you".
The bit I really dont get is what happens when these new owners/investors start to incur the huge maintenance costs that go alongside keeping a lamborghini miura in fine fettle, or if they put the rod through the block of a ferrari 250 lusso,etc. I think that would take the shine off your "diverse asset class" pretty quickly. Are they just bought to look at? to stick in storage?