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Remember in 06 the 50 mile Chevelle vert sold for big bucks? here a update on this car when it was resold!
Back in 2006, the Scottsdale Barrett-Jackson Auction sold a super RARE Chevelle SS454 LS6 (or LS7) Convertible. It is Blue with White Top & Interior with 60 Miles (or less) on it. It still has the custom Graphics on it from when it was Raced. It said “Briggs Chevrolet” “Driver Ray Allen” on the sides. It SOLD for 1.2 Million Dollars. If you have the latest issue of Hot Rod Magazine (February 2010), turn to Page 61 to see a recent Photo of it. It recently Sold AGAIN at Auction. This is where I have to laugh………. It sold for just $240,000.00 plus Fees. WOW, the owner to a Million Dollar Loss. The NEW Owner plans to remove all the Graphics and Drive it regularly.
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Well now we know the chevelle market is going down. That is an 80% decrease. So that means a 30k Chevelle today is worth about 6k. I’ve got cash in hand if anyone is ready to deal!
It can’t be applied across the board. Buyers who paid the ridiculous prices a couple of years ago are finding out it was a very poor investment. This would include MOPAR’s(Hemi’s in particular), big-block Corvettes, etc. I doubt prices will ever come back to that level.
If you are pissing a mil+ on a Chevelle you don’t care what you are getting for it later on. That was a “look at me” moment and nothing more.
Wise investment strategy would mean it would be held until the market turned back around.
I’d guess the guy is one of those really rich business owners who make %500+ more than his employees.
The market will never turn back around to that level where people are willing to throw that type of money at those cars. Duesenberg’s, Ferrari’s and cars like that will continue to see million plus values but not muscle cars.
It will turn back around. It has before. What this Country is lacking right now is Confidence. When that comes back the economy comes back and then the prices on old Muscle will come back.
The country lacks the ability to produce jobs that pay well, at least in the volume that will impact unemployment. If we manufactured actual products in this country an increase in spending would translate to a need for more jobs. We only need so many service level jobs. If people don’t have the money to spend the services of many businesses won’t be needed. Many of the highly-paid CEO’s run companies which have moved their manufacturing facilities overseas.
GTO Man wrote:
Quote:The country lacks the ability to produce jobs that pay well, at least in the volume that will impact unemployment. If we manufactured actual products in this country an increase in spending would translate to a need for more jobs. We only need so many service level jobs. If people don’t have the money to spend the services of many businesses won’t be needed. Many of the highly-paid CEO’s run companies which have moved their manufacturing facilities overseas.If I had a company with employees I’d be moving overseas. Tax,tax tax is all that is known from government right now.
//edit//I had a good rant going, but likely would get banned for it. Sorry. I won’t subscribe to the blasting of companies and CEO pay. Without them all we would have is government jobs….
Cut government, across the board, and taxes. That will bring more Companies back ashore.
I doubt that would bring many jobs back here. Workers overseas are willing to work for a fraction of what workers over here get paid. Many of the companies you are talking about pay no taxes here. Thats why their headquarters are in the Cayman Islands.
To even things out tariffs need to be put on goods being brought into this country, especially by companies who have moved jobs overseas to build the products they bring back here.
Couple of Tax stats:
USA: 28.2%
Mexico: 9.7% (wonder why GM makes so many cars in Mexico?)
China: 17%
Taiwan: 12.4%
India: 17.7%Some examples of US Corporations and what they paid in taxes. If you notice much of the tax is paid outside the US.
No. 1: Wal-Mart Stores
Sales: $401 billion
Pretax income: $20.9 billion
Income taxes: $7.1 billion
Tax rate: 34.2%
$1.2 billion of Wal-Mart Stores’ taxes are international.No. 2: ExxonMobil
Sales: $311 billion
Pretax income: $37.3 billion
Income taxes: $17.6 billion
Tax rate: 47%
None of ExxonMobil’s income taxes were paid in the U.S. In 2008 the company’s income tax bill was $36 billion.No. 3: Chevron
Sales: $172 billion
Pretax income: $18.5 billion
Income taxes: $8 billion
Tax rate: 43%
Chevron paid $19 billion income tax in 2008. Of this year’s taxes, just $200 million were paid in the U.S.No. 4: General Electric
Sales: $157 billion
Pretax income: $10.3 billion
Income taxes: (-$1.1 billion)
Tax rate: N/A
GE’s financial services unit, GE Capital, keeps the overall tax bill so low. Over the last two years, GE Capital has displayed an uncanny ability to lose lots of money in the U.S. and make lots of money overseas, where tax rates are lower.How about you throw in Sales/Fed/Property/Employees/Health/Fees/Fines and every other tax a company paid?
Imagine how much more they could make, how much more they could produce and how many more employees they would higher if that tax rate was even lower? But keep chasing the top %5 of the money makers overseas by taxing them more. No worries, they only pay 53.25% of all income taxes.
I have no argument over heavier tariffs.
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