After the future economic recession in 2008 everyone was trying to figure out where to put their money. Many believed that stocks would return, but not right away, and indeed it was a good six months until it actual bottom, even after the global economic crash. Others said that you should buy oil futures, but oil was low for quite a while, and it's not so easy to buy oil futures three years out. Some people said to buy gold and silver, and perhaps that might've been a decent play in hindsight.
Indeed, at the time I joked around with some friends of mine at the local club house, and I said what they should do is go buy classic cars which were not selling very well at the auto auctions, and pick them up for peanuts, and then put them in special climate sensitive storage, until the market returned in 4-years. Well, the classic car market is cruising right along now, and the prices are coming back up rather quickly, along with the entire used-car market even for regular cars.
There was an interesting piece recently in my local newspaper, The Desert Sun on May 31, 2011 titled "Car Show Organizers in La Quinta Say Attendance Was Up This Year" by Sonya English. The article noted that over 7,000 people showed up for the local show, when only 4,800 (approximate) showed last year, and 3,000 folks came from outside the area, meaning they traveled a ways to get to it.
Also, recently I've noted a slight uptick in prices being fetched at classic car auto auctions as well. About three weeks ago I talked to a lady who has retired from the classic car show circuit, and her and her husband had put on many car shows not only where I live here in California, but also in many other states. Although she is retired now, she said she might get back into the business because things are starting to look better.
For those who did buy classic cars when the market was at the rock bottom, those prices have almost recovered 50%, and mind you it's only been three years, and they probably have another 50% to go. Although it may be too late to get into the classic car market now, that is if you want to get something for a song, 100% return on your money in four-years would have been quite nice.
And judging by the increased attendance at the local car show, and some of the attendance figures I've been looking at throughout the country recently, that indeed would've been a very safe place to put your money after the economic crash. After all, at the time the stock market was no good, real estate still hasn't fully recovered in all markets, and there weren't a lot of choices remember? Indeed I hope you will please consider all this and think on it.
Lance Winslow is the Founder of the Online Think Tank, a diverse group of achievers, experts, innovators, entrepreneurs, thinkers, futurists, academics, dreamers, leaders, and general all around brilliant minds. Lance Winslow hopes you've enjoyed today's discussion and topic. http://www.worldthinktank.net/ - Have an important subject to discuss, contact Lance Winslow.
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