Of things slipping away

"cletus44 aka Clayton Seams" (cletus44)
03/14/2018 at 09:18 • Filed to: None

Yesterday I was chatting with someone who casually mentioned they owned a 1972 Dino 246 GTS. This kind of took me aback because while he owned a successful retail shop, I didn’t take him for someone with that kind of money. Then I learned he bought the car in 2014 and he paid just $90,000 for it. That kinda made me sad.

Props to the guy for buying an amazing car as a product of hard work in a self-made business but now that car is worth around $350,000. It seems like all the semi-attainable dream cars that used to be around $100k are now all tripling and quadrupling in price. Makes me feel like I’ll never own one.

Part of that rising panic is why I bought my 1970 Corvette as early as I could. American cars have proven to be pretty level on values since I bought it a few years ago but most european classics are skyrocketing in price. Anyone else feel this?

DISCUSSION (36)

LimitedTimeOnly @ opposite-lock.com > cletus44 aka Clayton Seams
03/14/2018 at 09:34

I think that this goes to the generally accepted theory that the very wealthy strive to put their money into expensive items that are expected to appreciate and are in limited supply, and in doing so create a feedback loop of rising values as others in the same position view those items as appreciating and want to buy them at an even higher price to put money into something that is holding value or appreciating, and is in short supply.

Therefore, Corvette for the win for the rest of us.

CB > cletus44 aka Clayton Seams
03/14/2018 at 09:37

I think it depends on what you consider an attainable dream car due to a) your tastes, and b) when you grew up. Most of the stuff I’d consider semi-attainable dream cars for me are still at a price point that I could theoretically buy one within the next ten years. Then again, I may end up in your spot at that point.

nerd_racing > cletus44 aka Clayton Seams
03/14/2018 at 09:41

My Autozam was the attainable dream car. I got it right before prices skyrocketed so it is worth approximately double now. But it is still paltry compared to most collector cars. But it was my dream car for 15 years or half my life.

Party-vi > cletus44 aka Clayton Seams
03/14/2018 at 09:46

Hey at least your dream car was semi-attainable at one point. There is no timeline where I would have been able to buy a Duesenberg.

Akio Ohtori - RIP Oppo > cletus44 aka Clayton Seams
03/14/2018 at 09:49

Yes and no... sort of. Seems like prices of really, for lack of a better word, mainsteam “dream cars” are going insane. As LimitedTimeOnly said, seems like regardless of the speculated reason, big name exotics are seen as a solid investment with a good ROI.

That said, if you’re willing to move away from Ferrari, Lamborghini, and Porsche, a lot of beautiful and exotic cars can be had. Old Alfas can be had for low-to-mid five figures and Alfa Spiders can be had for four. TVRs, DeLoreans, Bentley, Rolls, and most old Jags are all pretty attainable too. So... I guess it depends on your dream? I’d rather own a fleet of old Jags and Alfas than one fragile Ferrari, but that is just my opinion.

Kinja'd!!!

Maxima Speed > cletus44 aka Clayton Seams
03/14/2018 at 09:51

Tell me about it. Ten years ago you could pickup nice 964's and 993's for 30 grand al day. Now that I’m an adult they’re up into the 80 grand plus.

Flavien Vidal > cletus44 aka Clayton Seams
03/14/2018 at 09:52

You could get a Fiat Dino Coupe instead.... same engine and soooo damn fun... I bought one with the 2L engine, early model... Fuck it was awesome!

cletus44 aka Clayton Seams > Party-vi
03/14/2018 at 09:56

For that I am always grateful. I know some people who’s dream cars are like $10,000 and I’m like wtf buy it tomorrow!

CB > Party-vi
03/14/2018 at 09:57

Kinja'd!!!

I’m with you there, buddy.

cletus44 aka Clayton Seams > CB
03/14/2018 at 09:57

Interesting perspective. What are some of your attainable dream cars?

cletus44 aka Clayton Seams > Akio Ohtori - RIP Oppo
03/14/2018 at 09:58

This is a really good point. As soon as you move away from the “calendar cars” things get reasonable.

cletus44 aka Clayton Seams > Flavien Vidal
03/14/2018 at 09:59

Remind me, how much do the coupes go for these days? I prefer the 2L over the 2.4L.

CB > cletus44 aka Clayton Seams
03/14/2018 at 10:04

Whelp, time for me to sound like an amateur:

-2006 WRX STi

-2012 Mustang Boss 302

-A Lotus Elise or Exige (if I fit)

-Aston Martin V8 Vantage

In terms of classic cars, 60s Mustangs, or an early 70s Barracuda, but prices for both are probably climbing, so those might be out. But I’d love a Saab Sonett III.

But yeah, I’ve accepted the fact that unless I win the lottery, my chances of owning a dream car are relatively slim, but that’s okay.

ITA97, now with more Jag @ opposite-lock.com > cletus44 aka Clayton Seams
03/14/2018 at 10:07

Even that $90,000 is crazy money for one of those to me. Go 10 years earlier to 2004 and you could’ve bought a dino for half that when nobody except the folks who knew Dino’s wanted one.

Nothing > cletus44 aka Clayton Seams
03/14/2018 at 10:16

I have two coulda shoulda woulda stories. The first was more begging my dad in high school. By the time I broke him down to go look at the ‘70 Boss 302, it had been sold. $10k, with 32k on it. This one happened in ‘89.

My second was my own, and it’s the one that has seen my attainable dreams slipping away, 1985 Ferrari 308GTS. I went and looked at it, and didn’t love the color combo, white with red interior. I passed on it, for $17,500. This was back in ‘97.

I mean the good news is that the lower tier Ferraris are still attainable, if that’s what I’d want. 348/355/360 I could maybe swing without a divorce. The “want” isn’t there like it used to be though. It’s funny, now that I have the means to potentially afford one, I don’t know what my dream car would be.

Flavien Vidal > cletus44 aka Clayton Seams
03/14/2018 at 10:19

I bought the cheapest 2L Dino Coupe in Europe 2 years ago for 18500 euros... I think it’s cheap... It’s in Okazaki, close from my place right now

https://oppositelock.kinja.com/1967-fiat-dino-coupe-2000-the-oppo-review-1717002986

And yes, it’s not “cheap” but if you’re missing times when Ferrari Dino were 90k$, at 35k$, they are still one hell of a deal...

RallyDarkstrike - Fan of 2-cyl FIATs, Eastern Bloc & Kei cars > cletus44 aka Clayton Seams
03/14/2018 at 10:27

This is why I aim low with my wanted ‘fun’ cars :P

Kinja'd!!!

But yeah....I know your Corvette is rough, but it was a pretty good deal I think...didn’t really need a HUGE amount of work to be put back on the road. You dun good Clayton!

But a Dino for $90,000 seems a steal 0_o

RallyDarkstrike - Fan of 2-cyl FIATs, Eastern Bloc & Kei cars > Flavien Vidal
03/14/2018 at 10:28

Agreed! I love the Dino, but I prefer the FIAT Dino more! :D

Flavien Vidal > cletus44 aka Clayton Seams
03/14/2018 at 10:31

Video to go with that :D

I’m actually genuinely thinking of buying the car back... if I can afford it haha.... Best gearbox ever. I’ve never felt so good downshifting as I have in this car. Heel and toe were messier though....

Flavien Vidal > RallyDarkstrike - Fan of 2-cyl FIATs, Eastern Bloc & Kei cars
03/14/2018 at 10:32

The Ferrari Dino looks better... well, they are different. I love the Fiat Dino, but the Ferrari Dino has me in owe...

DasWauto > CB
03/14/2018 at 10:38

I’m 6’5” and managed to get in an Elise with a helmet on. I’m reasonably sure you’ll fit.

cletus44 aka Clayton Seams > RallyDarkstrike - Fan of 2-cyl FIATs, Eastern Bloc & Kei cars
03/14/2018 at 10:41

The 126 is such a charmer

CB > DasWauto
03/14/2018 at 10:43

That’s excellent news.

McMike > cletus44 aka Clayton Seams
03/14/2018 at 10:47

I loved that car when I was a kid. I used to circle listings of 246s in the back of Road & Track where my dad would find them.

They were trading for $25K back then.

RallyDarkstrike - Fan of 2-cyl FIATs, Eastern Bloc & Kei cars > Flavien Vidal
03/14/2018 at 10:47

I love the Ferrari Dino and think it’s beautiful, but, me being weird, I actually prefer the FIAT’s styling more! :P

RallyDarkstrike - Fan of 2-cyl FIATs, Eastern Bloc & Kei cars > Flavien Vidal
03/14/2018 at 10:49

That video is glorious....you are a very lucky fellow kind sir...

fintail > cletus44 aka Clayton Seams
03/14/2018 at 11:21

I remember the day when nice 190SLs were 35K and 300SL roadsters were 250K. 356 Speedsters were 50K, early 911s were 25K and several 70s-80s Ferrari models could be had for similar money. Mk IV Supras were just late model used cars, and rarer early Japanese cars were unwanted.

I think exotics/semi-exotics and cult rarities will continue to live in a bubble, but mainstream cars will be stable, pacing inflation on a good day.

SPAMBot - Horse Doctor > cletus44 aka Clayton Seams
03/14/2018 at 12:15

I have felt this first hand. I passed on a 328 in 2013 -_-

cletus44 aka Clayton Seams > SPAMBot - Horse Doctor
03/14/2018 at 12:44

That’s a great story! Interesting how your “dream” Ferrari changed so much throughout the process.

SPAMBot - Horse Doctor > cletus44 aka Clayton Seams
03/14/2018 at 13:05

Yep! I guess you just have to stay flexible! haha

davesaddiction @ opposite-lock.com > nerd_racing
03/14/2018 at 15:10

zam right

Nauraushaun > cletus44 aka Clayton Seams
03/14/2018 at 18:32

I’m weight for the japs to go up. 80s was good for euro, 90s was all about the Japanese.

MM54 > cletus44 aka Clayton Seams
03/14/2018 at 18:53

I dream in Lotus Europa and they are getting very hard to find in what I call “driver or worse” condition (meaning a driver or a project I can build into a driver while not being a basket case).

CaptDale - is secretly British > cletus44 aka Clayton Seams
03/17/2018 at 11:38

Yes I feel that way a lot . It is nothing special, just a 78 911 SC black on back, with no sunroof, and a wing. It isn’t particularly fast or reliable or modern, but I had a connection to it. It was my first true experience with a sports car that drove like it looked like it should. The owner of the car is like a second mom to me and she said she would sell it to me fore $10k. A lot of money for a high school junior, but not too much if she would keep it. But she sold it to buy a Prius (I know, I am mad too) and now Hagerty values them from $33,500-64,900. Honestly not a ton of money, but definitely something I won’t afford for a while and that just saddens me a lot. Especially since I want to find hers again. I really hope no one modded and ruined it.

cletus44 aka Clayton Seams > CaptDale - is secretly British
03/18/2018 at 11:55

Yeah I know the feeling. Sounds like that was quite the car! The whole P car market is sadly too hot to touch right now.

CaptDale - is secretly British > cletus44 aka Clayton Seams
03/19/2018 at 12:48

Yeah, I really hope it cools down