BAT and long hoods

[Unobtanium-inc]

I want ALOT!!

Second question: how are sellers LEGALLY reducing the capital gains? I'll keep it before I pay the SERIOUS taxes that have been mentioned to me.

I buy a lot of cars from guys who ask this same question, this is what they ask for. This was a pile for a 55 Speedster and yes it was in a barn.

---Adam

[sithot]

Prices have been very strong through the pandemic and now seem to be retracting. I was talking to a real estate broker and he said some of the pandemic real estate trends are reversing. I’m told that the results of the Las Vegas Mecum show a strong reversal and that many of the “no reserve” bikes got 50% of the expectations.

FWIW: Mecum got egg on their face again at the recent auction of a purported '74 Kawasaki Z2. Remember this one? A '67 Corvette really a '65. https://jalopnik.com/the-curious-cas...tte-1721955795
Oops, one more time.

[Rick Cabell]

Adam, I guess your seller is not going to have to worry about the capitol gain.

[RC70SCoupe]

No one who knows what they're doing sells a car this time of year. We sell our last car around Thanksgiving and won't have another on the market until Spring, i.e. March/April. And it's not that we don't have cars, the yard is currently full. But like Kenny Rogers said, "You gotta know when to hold em."

---Adam

I'm curious on your statement...Scottsdale Auctions are in January. Lit Show weekend in February. Amelia in March...LOTS of cars bought and sold
In So Cal, I drive my Targa literally any day I want...even the occasional rains

Is it because of tax season?

[Rick Cabell]

I don’t think he meant that literally. We are in the northern part of the country. After retiring from 40 years in the car sales business I have seen trends though the seasons. That is if you live where there is 4 seasons. Your car in your market probably OK. The northern part of the country freezes up in the winter and people don’t think about the nice weather to come in January yet. The audience is greater in the spring summer for sure. Example: I am selling for a friend a super nice triple black 86 Carrera I received in October. I went right into storage with it until April. When the snow is melting and the sun is shining in March/April buyers get pumped and motivated.

[targatuesday]

The window between Christmas and the Scottsdale auctions has always been a time to buy. Winter in much of the country and a reduced pool of active buyers. Mecum’s auction in Kissimmee may be changing that up a bit but not too much yet.

The 356 market is another matter. According to Hagerty’s Porsche market panel during Scottsdale car week 356 buyers are aging out. Some models, like the Speedster and twin-cam cars will become collectible more as art objects than as driven autos. The larger 356 market may suffer a bit before it stabilizes but there will undoubtedly be buyers for these cars even if prices fall from their historic highs.

[Unobtanium-inc]

I'm curious on your statement...Scottsdale Auctions are in January. Lit Show weekend in February. Amelia in March...LOTS of cars bought and sold
In So Cal, I drive my Targa literally any day I want...even the occasional rains

Is it because of tax season?

It's a combination of it being winter in much of the US, as well as Europe, things just slow down. Couple that with the holidays and classic cars are just not moving. Years ago we would sell cars year round only to see two things happen. The first being cars selling for 20-25% less in the winter and the second seeing our same cars get sold by other dealers in the Spring for full price. No reason to wholesale in the winter, just stop selling. The only trick is you have to live life like a school teacher with the summers off, budget yourself knowing you will see your last really good paycheck in the Fall until the following Spring.
Oh, and winter is for welding! I usually pick one really tough car and weld on it all winter, this was last winter, matching numbers twin grill S90 Roadster.

---Adam

[RickWhite]

I'll also never forget a conversation I had with the DMV in January - the best month to book an appointment because "the minute the IRS starts paying out refunds there is a line out the door with people registering their cars." It isn't just weather, people are seasonally skinny on finances in early winter months.

[doigthom]

Very informative info but really doesn't answer my query. Plenty of 356s on BAT. Also plenty of '74 or later Porsches. Just very few long hoods. Supply and demand? More '74 onwards production and therefore resulting in more resales now? All the good long hoods sold and being hung onto? Just seems odd.

[sithot]

I don’t think he meant that literally. We are in the northern part of the country. After retiring from 40 years in the car sales business I have seen trends though the seasons. That is if you live where there is 4 seasons. Your car in your market probably OK. The northern part of the country freezes up in the winter and people don’t think about the nice weather to come in January yet. The audience is greater in the spring summer for sure. Example: I am selling for a friend a super nice triple black 86 Carrera I received in October. I went right into storage with it until April. When the snow is melting and the sun is shining in March/April buyers get pumped and motivated.

⬆️

From my experience.

Also recall a wholesaler telling me he liked to have all his convertible inventory gone before the 4th of July (here on the East Coast).