Now that the big Arizona Auctions are over, everyone is talking about the "trends for 2008," almost as if the year is over. People say all kinds of things about the big-buck auctions out west, but I believe only what I hear from people who actually went there to buy or sell cars. The buyers I spoke to were split. Some thought the auctions were an absolute circus that meant nothing in the bigger picture. The other group of buyers was very happy - in today's terms, there were deals to be had if you were buying. The sellers were not happy. Those who got 80 percent of what they expected to come home with felt they did well. But many got less than half of what they needed and expected and took a big hit.
So, that's the "financials" of the hobby. But if you think that headline auction prices make this hobby, you're sadly mistaken. Most of us who collect old cars don't think too much about their values, until we're ready to pass them on to our kin near the end of our life. Until that point, the"value" of the cars we own is in the fun we have bringing them to shows and the social relationships we build around attending car events.
Sure, I'd love to "make money" with my hobby. You probably would, too. It does justify the expenses. But since I'm not going to be buying or selling any cars this year (I'm too busy fixing them for warm weather use), I really don't care what Fords, Ferraris and Franklins brought out in Arizona this year. Keep your dollar signs and let me enjoy my hobby!