I just discovered a 1959 Base Motor, frame-on Corvette that I restored and later Flighted and sold because to P.V the thing would be lengthy..sold at the Barrett-Jackson for $57,000. What's up with that?
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Re: Its called.............
SUPPLY AND DEMAND....somebody really really wanted it. -
Economics of the good times
It's called the weath affect and is caused by the runup in stock prices over the last several years. This has caused people to go out and buy, buy, buy. I think history will tell us that the last thing to be bid up toward the end of an expanding economic cycle are "collectibles". Look at what happened in 1990. Big runup in collectible prices after "good times" then a recession and crash, but it usually takes a catalyst to begin the correction, In 1990 it was Iraq's invasion of Kuwait, which caused a runup in oil prices and lots of future uncertainty. Some say it is a "new" economy, but history tells us that history usually repeats itself almost all of the time. Currently oil prices are the highest since the Gulf War, and the Fed is increasing interest rates to slow the economy and prevent the onset of inflation. This in itself could backfire and cause a recession because of the phase lag. It's like trying to steer a car with a rubber band. The balloon is going to burst, but the key is that nobody knows when or what will ultimately trigger the bust.
DukeComment
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Re: Boy, The World is Screwed up!
GOTTA LOVE THIS "HOBBY"!Comment
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