Do you think that the old-car business, for the most part, is defying the economic downturn? Please hit the comments button below and give me your quick opinion on this. The more the merrier. Sitting here in Iola, Wis., it is hard to speak authoritatively on this topic.
Two friends of mine who run restoration businesses say that they are doing extremely well so far. One of them has a supplier who spins metal, a very specialized trade, and he can’t keep up with demand. Other restorers I’ve visited in the past few months all say they’re really busy.
Some classic car dealers are complaining that they are having trouble selling “low end” cars, but they all say that the “real,” high-dollar collector cars still have a good market. Recent auctions have been spotty. None are terrible, but dealer prices are coming down. Some auctions with better-grade collectibles continue to set records.
My general impression is that, so far, the hobby is definitely beating back the problems facing American business in general. The hobby is still very small-business-oriented and that seems to be the nation’s great strength right now.
Please tell me what you’re sensing about the hobby marketplace!