Yep, clearly some folks either need money or want to invest in something else. 10-year bond yield over 4 percent for example.

 

Clearly you have the right idea I'm just looking at it from a value standpoint and not a collector thing. The collector market has always baffled me.

 

My money market account is currently paying 5.12%, you'd be a fool not to free up cash at the moment. Especially if that equity is sitting in something that costs you money to own and you aren't using it.

 

The assets are rotating, some has the money to spend and some want the money to spend, as long as that keep up the price will stay.

The BB yesterday pull in just a few k less than that VR also shows the difference of a natural 5-spd car vs a swap.

 

The seller of the VR/Tan was "being too honest". (imo)

 

Yeah, the swap plus the full repaint would diminish the value for a collector, I guess, which is where the really big money comes from on the low-mileage cars. But at ~$46K this will make a really nice driver that you don't have to sweat devaluing.

 

R1 Sold for $102.5k on BAT. Omg, does this mean the market didn't actually soften as a result of 3 cars selling for lower than people would have liked expected a couple weeks ago?

Another example of why 3 cars is not an adequate sample size to make such claims on an overall market.

As always, Fritz's hit the nail on the head for the valuation on this one if you look back to the post 6 days ago.

 

I think some of the paint measurements with questions of possible resprays in the past are what held it back from going even higher but a good price nonetheless.

 

In all it was about 7 cars that were underpriced. But nevermind, the recent employment figures point to no recession, even with higher interest rates. Congratulations!

Go out and buy that second FD!

Before the prices really go nuts.

 

If the supply continues to go up on BAT the price will come down for sure. That said a BB r1 will always sell for a premium and I feel like the seller and buyer should be equally happy. It's awesome to see nice FDs selling for over 100k even with some paint issues and 16k miles.


Yep, that and the damage behind the driver's fender vent.

 

LOL, so true, I don't see inflation going anywhere anytime soon.

So many people tapped into refi's, covid relief etc..... However, debt is a killer in the end, and it will eventually take its toll on both the government and private sectors. The interest rate uptick is going to continue to crush banks, corporate real estate etc....

I could buy a GT4 for 100k, spend 3k on insurance (car insurance is going up a lot so it might even be more), also in VA you pay personal property tax each year so call that another 3k. I'll go to the track at least 3 or 4 times and spend another 6k LOL. So, with repairs and maintenance I'm guessing I'm out 120 the 1st year. Add another 6k for the interest I'm not getting on my 120k and I just can't make myself do it.

PS forgot sales tax, registration etc....so add another 4 or 5k, VA is a bitch for car owners

 

Revamp the FD track car.

 

What I have learned from the last handful of BaT sales is that today's FD buyers are a discerning bunch.

The cars that are truly nice - the unmolested ones with nice interiors, no paintwork, and low mileage - go for A LOT more than average or even good examples. Most of the cars that have recently sold for below market in some way have had some major con for buyers who are focused on quality - either prior paintwork/accident history, a worn interior, non-working components, etc.

Rust does not seem to be a problem with FDs, though I think this is likely because the vast majority of owners are not driving them in winter conditions, more than any special rustproofing from Mazda.

 

Agree. We aren't at the point yet where a restoration actually makes money so I think there is still a ways to go (either average pricing condition pricing goes up or project pricing decreases). If you get a decent deal on a roller but have to paint it and do mechanical work on it, unless it's stupid low mileage, you won't get your money out when selling (at todays pricing)

 

100% correct. I've passed on several opportunities that need paint work and that alone kills any room for profit. I have a ton of engine parts to pull/build from but if I value them at todays rates it would also eat into any profit. Most rx7s are still currently worth more in pieces than they are whole. That will eventually change but we arent there yet.

 

If there was a good shop I would, I'm just lazy AF and everything hurts when turning wrenches LOL.

 

This is why we are going to see more FDs and hopefully GT3s listed for sale.

9 SIGNS THAT THE U.S. CONSUMER IS ABOUT TO BREAK (linkedin.com)

 

Good clear concise article
Bidenomics is working = cost of everything up 10-30%
and Hunter did nothing wrong

 

How much has the personal total net worth of the average homeowner in the US increased in the last five years?

Debt to income may have risen, but how about net debt to TNW?

I'd be more concerned about a topping out of the housing market, which does not seem to be in the cards at the moment, but, of course ,could come quite suddenly.

 

Home equity has almost doubled the past five years (this graph will trip you out: Value of U.S. homeowner equity 2022 | Statista), more importantly the S&P 500 has gone from 700 (financial crisis bottom/2009) to 4600 today. Talk about feeling rich on paper.

Exactly, families feel rich, so they spend more and more and eventually they become accustomed to a certain lifestyle that's extremely hard to break free from. Covid made the kids feel rich with debt relief, covid payments, PPI blah blah blah and they started to spend more and good luck pulling in the reins on kids. Yep, I said kids because in the USA they typically haven't grown enough (have enough life experience to manage their sh#t) until around 35 lol.

So, with unemployment at record lows and the majority of individuals living paycheck to paycheck you can bet there is going to be a lot of cars for sale soon. I also suspect this time around even nice cars because of that paper wealth effect you mentioned.

Overall housing prices are still up which is insane given that the interest rates have more than doubled. The supply side thing is still hurting the housing market but if the fed continues to raise rates or even keeps rates flat the big guys/corps will likely feel a need to sell or go bankrupt (blackstone etc...) and the fall could be equal or worse than the rise.

I don't think the fed will come to the rescue in a meaningful way so I'm going to keep my powder dry while earning 5 plus percent. Either way I'm super fortunate to live in a great area so I'm somewhat insolated, praise Jesus

 

Definitely agree on the points below Fritz. I think it all started a long time ago (before Covid) and has been on the rise continuously. Bigger and bigger credit card limits even with low credit, predatory auto loans (hey, here's a fancy car, just pay us over 8 years and don't worry about interest, you don't start paying interest until year 3), predatory mortgage practices (I refi'd to low rates during covid, after interest rates were on the rise, multiple lenders called and sent papers asking me if I wanted to refinance, I literally have zero reason to refinance unless there was something really big I needed to do with cash and refi would be the cheapest option, I repeatedly told them no, and one day after a call with my existing lender, a packet shows up in the mail with all the paperwork needed to refi, a check written for tens of thousands of dollars, and a 400bps rate increase in small print on the last page. Even after I told them the only way I was interested in refi is if they reduce my rates from current state).

Now consumers need to take some responsibility, but predatory practices are exactly that, predator on the prey. Look at Wells Fargo practices, why anyone continues to use that bank and keep there consumer business going is mind boggling.

Also, new forms of layaway are worse than ever. Even buying purely discretionary car parts for racing, look at how prevalent affirm (and other similar companies) buy now pay later type offerings are.

Where I'm going with all this is that this has been getting worse and worse for decades. People generally aspire to live beyond their means, but it's become harder and harder to understand where one stands relative to their means, and the gap to exceeding it gets bigger and bigger, meaning higher and higher risk. I bet a lot of us here could scratch together some debt and buy another FD off BAT (they would even help make that easy), but does that mean it's a good idea, probably not hahah.

 

Being bought by folks for multiples of their retail price? M'kay.

 

Seems inflation was indeed transitory.

 

https://buyee.jp/item/yahoo/auction/...uggest_history

Just sayin'

 

What a deal