Doug seems to think the market is finally cooling and offers data to back it up. I was just having this discussion with an employee earlier today- and I'm no expert, but I feel like the housing and real estate market is as well. I know several people actively looking for jobs atm who are finding they are getting much slower and less responses from applications and resumes. Goes to show, all this is trickling down to a normalization of collector car values.

 

So all those people who quit bidding at US$30,000 are now going to have their chance?

Or are they going to hold out for good ol' $25,000?

 

Funny money has dried up. The real estate market in the US has an impending bloodbath and is next, things are just floating along right now being artificially propped up until after the election. Home overvaluation right now is at a record high when you compare, wages, inflation, and affordability.

An investor selloff has had a soft start in particularly bad markets and it will spread like wildfire soon, only areas with a short supply of homes due to high job growth will see a reprieve. Investor cap rates on rentals have dropped and they'll be shifting their money to high interest accounts to holdover until they can reinvest when prices drop.

 

24,999!

 

i saw this one,

PSA though is remember it is a game of buy low and sell high, so panic and selling low means you loose.

 

RNM, buddy.

 

FD car prices may indeed be on a downturn but I have not seen that for FD parts.....parts demand still brisk.

 

New owners? New sellers? Same old crowd? All of the above?

I have had four instances of cars I never heard of locally coming out of long term storage with owners looking to long neglected parts needs.

Getting to the party late, or a new found appreciation of rare beauty?

 

They're not making these anymore either. I tell folks the reason I bought my FD was that I'd never have one of these.
The Most Expensive Ferrari Ever Sold: This 1962 330 LM/250 GTO (caranddriver.com)

 

The FD is an unique historical fluke that can act as a stylistic surrogate for many of the 1950's early 1960's Italian sportscars that frequently rank at the very top of auction values.

 

ive seen 3 of those at a stoplight before, which makes it more common around here than an FD!

 

I agree with Doug DeMuros take on the market, but here's another opinion lol:

 

YEP

Last 2 auctions didn't meet reserve and I thought the BB R2 was really nice.

In November we've only seen 1 listed so far. Typically, we've seen about 1 a week. There were 9 listed in July which is likely the most we've seen in 1 month. I think that was the last hoorah for the FD/used cars for some time to come. Of the nine listed in July this is the only one that didn't sell. 3,800-Mile 1993 Mazda RX-7 Touring 5-Speed for sale on BaT Auctions - closed on July 7, 2023 (Lot #112,769) | Bring a Trailer

Sellers are waiting until spring, but I think we'll see more and more not meeting reserve, less cars listed etc..... UNTIL we start seeing actual deals this time next year, I'll be watching/hoping.........LOL

 

It's already a 6-digit car, it sold for 3 years in the USA, and we know about all its special characteristics which is why the right one is selling for 120k plus today. This guy is a little late to a party that's winding down.

If you want to see just how crazy stuff is look at this: 2023 Porsche 911 GT3 RS | RS-TRIBUTE | duPont REGISTRY

There's still tons of funny money out there but the pile is getting smaller for sure.

 

The surprising momentum of the US economy post Covid has put off the expected recession for quite some time now.

Recent unemployment upticks are a signal recession may finally come, but on the other hand, falling interest rates may stimulate the stock market and the wealth effect could spill back into the speculative asset classes by Spring.

Watch out for housing starts. An early bounce in lumber prices, after the winter cut, could be a sign.

Watch the underlying economic figures and try to ignore all the negative spin on the economy for political purposes.

Certainly, do not stop spending.

https://www.nasdaq.com/market-activity/commodities/lbr

 

I think the recession piece can be argued. When you look at the cost of living as a whole, the typical American cost, dollar for dollar when compared to the great recession, we are worse off. The government and country as a whole is in so much debt and our dollar value drops by the day. The definition of recession seems to change as well.

 

This poor guy. He is putting out content on how to change an air filter and how to remove the uim on fd's 25 years too late. He's been posting some here on the forum and getting ripped apart. I wanted to join in but honestly just feel bad for the guy thinking he's going to make it against the "yo's and bro's"of the current crop of youtubers. He literally has no clue.

 

Pettit Racing Cold Air Intake Review and Install - DT - RX7Club.com - Mazda RX7 Forum

I don't condone or encourage twincharged response but had to chuckle and silently agree

 

Is it really pronounced Peh-TIT?

I have assumed it was pronounced pe-tee.

Never to late to learn something new.

 

and I’m mad here the last Gen NSX without the pop up lights never went affordable lol

 

There was a time you get a decent one for $45k and a crappy one for $30k.

That's pretty affordable considering the NSX sold for $90k (after dealer markup) in 1992

 

Those looking to bottom feed for an FD on Yahoo Japan may be out of luck for the time being.

 

Meanwhile, asking prices for FD in Australia seem to be holding up well. Note the low KM on these vehicles. Often Japanese cars have quite low mileage, and it seems prime examples are finding their way to Australia.

Here is a link to Australia listing of cars over A$25,000. Early 2024 should see a bulge of early S8 cars becoming US eligible.

But US buyers may have to be comfortable with landed pricing of S8 at mid-range LHD pricing, to see many of them coming over (imo).

https://www.carsales.com.au/cars/maz...000/?offset=24

 

Consolation prize!

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

 

23-Years-Owned Modified 1994 Mazda RX-7 Touring 5-Speed for sale on BaT Auctions - ending December 10 (Lot #130,325) | Bring a Trailer

Finally, another FD listed.

Heavily modified, some good, some bad. No ABS will hurt the sale for sure. This might end up being a bargain for someone.

I'm sure BAT will fix the bidding.