Mecum auction

i watch mecum and barrett-jackson on a regular basis. bj is "generally" getting more money for their cars but their prices have fallen substantially just like the results at the mecum auctions. the collector car/muscle car business has been an odd universe for the last 20 years. there were "quick flippers" who bought various cars, did a little "putty and paint" and then ran them through the auction making a quick $5-10k for their trouble. there were "serious car guys" who spent a lot of time working on their cars and then for whatever reason, took them to the auctions. these cars were usually very nice and brought good money. then there were the "financial investments" guys who were buying high quality muscle cars to just sit on expecting substantial appreciation, and then when the market was right, they would sell the cars. as i've been watching the auctions, it looks like all three of these groups are either leaving the hobby all together or being thinned out. you can't make "quick money" on flipping muscle cars now because the restoration costs are now above the market values. the guys who spent a lot of time and money on their cars are still selling but at significant losses of money. and the "art collector" types of car guys? these guys are SELLING now because the market is dropping and will continue to drop. you can count on your hands and toes the cars and models that are still bringing "big money". the other thing that is happening is that "resto-mod" classic muscle cars are the ones bringing big money. it seems more buyers now want a 69 Camaro with a new computer controlled LS GM crate motor rather than a solid lifter OEM 302. at both mecum and bj, the resto-mod old muscle cars are selling on average $20k higher than the same model with original equipment and drive line. the "true fans" of old Detroit muscle cars are now in their late 60's early 70's. health and family issues are now overcoming many of these folks' love for their old cars. VERY FEW males in their 40's or 50's know or care about muscle cars from 1964-1971. and of course, males under 30 don't care about ANY cars. finally, over the last 20 years, the "muscle car boom" did result in one very positive thing: a LOT of old cars were saved from the crusher and restored. a gear head now can pretty much find any old car they ever drooled over years ago when they were in high school and could never afford to buy it "back then." as the market continues to drop, there is going to be a large supply of very nice "restored" or "driver level" muscle cars being sold for under $30k. with a little saving, a decent credit score and a good job, anyone who wants an "old muscle car" is going to be able to buy one.