The classic car auctions in Scottsdale this year should be very interesting. In general, if you ask an auctioneer how things are going, he or she will say things are great. They may really believe that, but over the past few weeks, I have seen signs that things are really beginning to slow. The hobby marketplace has held up much better than other markets. but if the jobs situation doesn't improve, the marketplace is going to feel it. In order to sell cars, you have to have buyers and the buyers have to be willing to spend money. A lot of buyers are beginning to feel the reality of tight money markets. Also, other markets like real estate may have bottomed out and the stock market is making gains. As these changes occur, the strength that the collector car market has held may no longer be the only good investment out there. I am not one who buys the thinking that the Arizona auctions are a barometer for the entire year in the hobby market. But still, as I say, it is going to be interesting to see what happens out west in January.
Kenmore Heavy Equipment, Contractor Equipment and Collector Car Auction- ONLINE ONLY
James G. Murphy Co. Auctioneers will conduct an ONLINE ONLY auction October 1 - 8.