In 1976 I stood next to my uncle as he turned down $12,000 for a '51 MG TC. Now, 30 years later, he is finally ready to sell that car. He had it on the market for $20,000 and got no interest. He has since lowered the price and I think he is now asking $18,000. Far as I know he still hasn't had any real interest.
What does an old MG have to do with the value of old trucks? I think it illustrates how demographics impact the market. Back in the 70's there were lots of people who wanted that MG when they were kids and could not afford one.
In the 70's many of them had reached the point in there lives where they had disposable income they could spend on a very impractical car.
Today those same people are mostly pushing up daisys. My uncle turns 76 next month and still hasn't realized most the people who wanted that car were born before he was.
I've been watching Corvettes on eBay. I've seen serveral '84s that look like reasonable drivers go for well under $5,000. I think today those are probably the cheapest today. A few years ago it was the late 70's early 80's that could be bought cheapest. I'm thinking a mid-80' 'vette might be a fun driver for the next few years, and return my investment later.
I'd rather have a '62, but six-figure toys are not in my budget.
I think I'm too close to the old truck market to rationally sort out who is buying what, but I suspect my collection of Advance Design stuff won't have much of a market when I'm my uncle's age. Right now a lot of us remember those trucks from when we were kids and have some kind of irrational interest in them.
Also note that most the interest on this board is Advance Design and later trucks. Yes there are some Art Deco and earlier trucks, but they are the minority. The same seems true on a couple others I visit. I suspect 10 to 15 years from now a few of us will still be playing with Advance Design and Task Force trucks, but the real action will be '67 to '87 trucks. Stuff I still think of as just tools.
I look at that $29,000 price tag and the recent prices at Barrett-Jackson with amazement. I just hope no one is risking their retirement savings on one as an investment. If my uncle's experience is any indicator the car you are passionate about today isn't likely to be a good long-term investment.
Oh, and lest anyone is worried about my uncle, the MG is parked next to a '71 Mustang convertable he paid $1,000 for 10 years ago. It seems to be near its peak value and I think he'll do okay on that one.
