I have been dealing in vintage automobiles for many years. I can
tell you within a few hundred dollars what most classics will bring in the
current market. However I am apparently badly out of touch with late model
I took in a 2001 Mustang GT a few years back in trade. It was a very
clean, nice car, so I kept it and my wife drove it. We are in central
texas and everything here is 100 miles away so mileage piles up fast.
This year I decided to sell the GT and checked the NADA and Kelly book
trade in values. It needs tires so I knocked 500 off the book and listed
it for sale.
Then I started checking recent comp sales. I was floored. The only ones
that were selling were around 50% of book. Some approaching 60% but
nothing near trade-in book value. I know when a new model comes out it
generally hurts the previous series, but this is ridiculous.
Has anyone else run into this on late model stangs?
Look for the "Investing in Vintage Autos" DVD series,available soon!