“BUY THE STEAK,

NOT THE SIZZLE”

1ST ANNUAL AROO BUSTER’S BARBECUEINSIDER’S SEMINAR

A Long History Of Foolishness

•

On the Road, Still

The Next Generation

Car Collecting:The Next 5 Years

1. Rarity 2. Beauty 3. Historical Significance

4. Specific Provenance

1962–64 Ferrari 250 GTO 39 produced

CHARACTERISTICS OF A BLUE-CHIP COLLECTIBLE

1. Beauty 2. Usefulness3. Reliability and Spares4. Affordability

1955–62 MG ANearly 100,000 produced

CHARACTERISTICS OF ASECOND-TIER COLLECTIBLE

1. Attractive or Quirky 2. Affordable or Cheap3. Reliability and Spares4. Clubs and Events

VW Beetle

CHARACTERISTICS OF ATHIRD-TIER COLLECTIBLE

Forces Driving Prices

• Weak dollar

• Emergence of new non-traditional collectors

• Increasing population, fixed number of cars

• Cars undervalued since 1991

• “Gonna have one before I die”

For Buyers• Are you a keeper or a flipper?• Are you buying with avocational money?• Do you actually know what you want to do

with the car?• Do you like the other people who buy cars

like this?• Do you like the car, or do you like its value

increase?

For Sellers• Nothing lasts forever; is this the best of times?• Will the dollar stay weak forever?• If you’ve realized 90% of a trend, how much are

you willing to risk for the last 10%?• Have you done everything you wanted to do with

the car?• At what point are cars “fully valued”?• “Gotta get rid of this before I die—my wife and kids

don’t love these old pigs.”

The Market in 2013• The dollar will be stronger

• Credit will be easier to get

• Blue-chip collectibles will be strong

• Second- and third-tier collectibles will be less expensive and less sought after

• The pool of “first-gen” owners will continue to shrink

A NEW TRENDDRAGON DRAGSTERS!

“BUY THE STEAK,

NOT THE SIZZLE”

1ST ANNUAL AROO BUSTER’S BARBECUEINSIDER’S SEMINAR