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News Link • Economy - Economics USA

Recovery? Vintage Car Prices Crash More Than 2008/9

• zerohedge.com by Wolf Richter

The asset class of beautiful machines is suffering. These assets range from a rare 1962 Ferrari 250 GTO Berlinetta, which sold for $38.1 million with impeccable timing in August 2014 before the peak, to American muscle cars that can be acquired for a few thousand bucks.

According to the Hagerty Market Index, prices of vintage automobiles that sold at private sales and at auctions fell 3% from a month ago, are down 7% for the year, and are down 17% from the all-time high in August 2015. This 17% drop from the peak is worse than the 16% drop from peak-to-bottom during the Financial Crisis.

The index in the January report, at 154.33, has now two declining years in a row under its belt.

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