You know slowcar. When the bottom fell out on the price of crude oil in 1984 I had stock in small oilfield companies that went belly up. The economy was tanking. I realized my position was to unload what I could, to salvage some monies from a total loss. I did not lament the fact that I couldn't recoup my losses. I sold it for what the market would bearYou can accept the market for what it is or hold out for your price. If you elect to sell when the economy goes down, accept it without the bitterness. Otherwise you will create bad karma(so to speak) for yourself.
The Economy tanking is only relative to what
YOU are invested in at the time. A car has never been nor will it ever be considered an investment. Sometimes selling off to cut short term losses is a wise move but more often then not when it comes to the stock market one is better off not selling and sticking it out. That is all relative to how old you are and how much money you have invested at the time with that particular stock.
I don't see the nexus between selling a car when the economy is hurting to cut losses vs. selling off stocks during a bear market to do the same.
In the world of classic cars or specialty muscle cars you cannot compare them to selling ones car for what some would refer to as "Market value". This because it is a tangible object that will never truly go down in value due to its limited availability and is not suceptable to the volatility of the market like a stock is.
The only thing a TR is subject to is what people are willing to pay at that particular time. The value cannot fall out from underneath it as a mutual fund or individual stock could.
People who buy specialty cars know that they are special and only available in limited quantities. People know what it cost to build these cars or find one that is rare or one that has low mileage.
So Slocar was dead on when he stated ""THE ONLY WAY OUR CARS ARE GOING TO GO UP IN VALUE IS WHEN PEOPLE STOP SELLING THEM CHEAP AND SETTING A VALUE ON THEM" That is 100% true. Right now people are giving their cars away. When he stated "Every time a good clean car goes to another buyer on this board for a ridiculous price ......the value just gets lower and lower" he was also dead on with that statement.
The market does not dictate what your car is worth or what it should sell for. The
OWNER does. Unlike a mutual fund or stock, he/she has complete control over what he/she feels it is worth. When TR owners stop giving these cars away they will sell for the appropriate price.
Go watch a Mecum or BJ auction and then tell me the economy is so bad that people should sell there TR for the price of a Yogo...
