Collector Car Market Stands to Gain from Latest Economic Meltdown
Monterey and Beyond:
A Prediction for the Collector Car Market
(By: Bryan W. Shook, Esquire)
717-884-9010
With the Monterey Auctions only two weeks away, the eyes of the Collector Car Market are on Wall Street and other world markets.
Gold has surpassed Platinum, S&P has downgraded the United States credit rating from AAA to AA and the stock market is plummeting. How could this possibly be beneficial to the collector car market, you ask … it’s simple. The stock market, the bond market, the futures and other typical investment arenas are subject to the debt crisis. While the Collector Car Market is, in a sense subject to the debt crisis, but not nearly to the extent that the traditional markets are.
This economy is somewhat of a double-edged sword. On one hand, the current debt crisis has undoubtedly caused more than a few cars to come to market, but on the other hand as investors seek safe havens from the latest market crash the world of collector cars looks like a better and safer investment market every day. Collectors invest in automobiles because of emotion, artistic adoration and quite simply, memories. A tangible investment is much easier to quantify than a stock certificate and the same is not as susceptible to the tumultuous economic climate we live in today.
Last year’s $172,000,000.00 in sales will likely be eclipsed this year as investors clamor for the many of the blue chip collectible automobiles that the several major auction houses are going to parade across the block.
Don’t be surprised to see a plethora of domestic and foreign collectors alike flock to Monterey, cash in hand to buy up the consigned cars. Monterey has, for years been THE PLACE to sell your high-dollar, blue chip car … this year the money will be there more than ever.
Thank you to Standard and Poor and all of the world’s economies responsible for this latest turmoil.
Attorney Bryan W. Shook is a devoted automotive enthusiast, but is also an experience litigator who devotes a large portion of his law practice to helping other collectors and hobbyists understand today’s market. Attorney Bryan Shook is available throughout the United States for consultation, advice, and information. If you’d like more information about this topic or would like to speak with Attorney Bryan W. Shook please email him at bshook@shooklegal.com.
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