Since this is the July issue, we must be starting the 2nd half of 2015. Where has the year gone? Granted that, due to publishing deadlines, you are most likely reading this in June makes no difference. 2015 is 50% done.
So far this year, the recurring theme in collector car values (especially exotics) is “increased value”. The same as 2014. New exotics from the world’s manufacturers are following the same trend. All you have to do is look through the next 190+ pages and you will see both collector and new, exotic and classic, luxurious and sport – all up, up, up in value. Will it last?
As I write, the stock market is at or near an all-time high. Volume is strong. New issues flood the market and are gobbled up with new money. Wealth is being created every day and this bodes well for the selling of classic, luxury and exotic automobiles.
Nowhere else is there a more accurate indicator of the marketplace for things collectible than the art markets in New York. The annual spring art auctions (2015) brought in an astounding $2.6 billion in 10 days of collector extravaganza. This economic milestone was an approximate 25% increase over the previous year. The record for an individual painting was almost $180 million … for one painting. Then, a sculpture set a record at $141+ million … for one sculpture. At one auction house alone, 147 lots sold over $1 million, 7 for over $50 million and 2 for over $100 million. As you can imagine, bidding was intense and the auction room was virtually exhausted at the end of each day. Believe me when I say, automobiles will follow.
Notwithstanding the value of auctions, private sales occur with regularity and values are rarely reported. In the pages of this book, on our website, on our Facebook, and reported via our Blog, AUTOFLUENCE, opportunities and values are disclosed in a way that provides buyers with information AND the incentive to buy -- on the spot with no competitive bids or aggressive 3rd party incentivizing. A wonderful compliment to auctions – or shall we say, visa versa.
So for the balance of 2015, “let’s get ready to rumble.” It’s going to be wild and crazy. There are plenty of automobiles and there is plenty of money. Just do it!
Thomas L. duPont
P.S. The July issue allows us to celebrate the 4th of July with the tradition of placing “America’s Sports Car” on the cover. The 2015 Corvette on the cover comes with a variety of options. Starting at $79,000, the Z07 package adds a great deal of flair, finish and “cool” for a modest up-charge. And, you can get there in a hurry (0-60 in 3.2 seconds). Truly a superior effort from our nation’s own industry: Automobiles. New or old, the Corvette is America!