In response to jays post below, I haven't been able to read the WSJ article, but I don't think they're advocating selling a Ferrari to buy a Vistacruiser. But they do probably mean to say to sell the 50's chevy wagon and buy a Vistacruiser. These have similar quality, production, and low survival rates. After all, how many people ever thought a wagon was "cool".
As far as bikes go, my preferences run toward the very end of the period we discuss here. I love the early aero stuff, despite there not being much of an actual advantage for most of us. Much of the stuff from the 70's dosen't do much for me, but they are still great bikes. I like the much older stuff as well, I just can't usually afford it.
Investing requires some coldness to the stuff you're investing in, so it can be sold at the right time. Hopefully most of us are in this hobby because we like the hardware or the riding or something about the bikes. At times, we may pay "too much" but after a few years of riding, how can you put a number on the joy of owning/riding a bike you really like.
Steve Birmingham Lowell, Ma
Date: Sun, 19 Sep 2004 21:25:51 -0700 (PDT) From: Jay Van De Velde <jaysportif@yahoo.com> To: classicrendezvous@bikelist.org Subject: Re: [CR]are some of us nuts?
After reading the WSJ article Harvey cited on Friday ( Thanks again Harvey) I had to chuckle at some of the "Buy,Hold, Sell" recommendations the article's author has made. C'mon; buy an American Motors AMX or an Olds Vista Cruiser ( a station wagon, forcryinoutloud) and sell your Aston Martin DB6, Duesy J or Ferrari Daytona? That's like saying "buy a Sears Ted Williams (No offense Harvey) and sell your Cinelli SC. Experiencing stratospheric run ups in prices recently are '60s-early '70s muscle cars, and what I think are their bike equivalents, the late '60s -early '70s Italian road bikes from the Big 5 (Cinelli, Colnago, DeRosa, Pogliaghi, Masi). As pointed out before by others, the 40+ demographic is pursuing these items they lusted after but couldn't afford in their youth (which also describes me). With the muscle cars there's probably going to be a burst bubble similar to the late '80s bubble regarding European sports cars ( recall those $1M Daytonas, now around $125K ) but as long as you didn't buy your Daytona in the few years of that hyper-frenzied market, you're still doing OK, holding a valuable and highly desirable car. With bikes, the same lessons apply. Don't spend stupid money for that early Masi, but don't worry if you had to spend a bit more than you wished to get the right bike. The classic bikes now will be classic bikes in the future. I also think there's too much concern and hand-wringing regarding the next generation of collectors. There will always be cyclists and collectors who will be drawn to bikes preceding the era of their youth, just as there are and will continue to be car enthusiasts who appreciate fine automobiles built decades before they were born. I spent a wonderful day today wandering among some beautiful cars at a local Concours D'Elegance in Palos Verdes. Lots of Ferraris, Porsches, 'Vettes, European and American classics. The 2 cars I was most drawn to were a prewar 4 1/2 liter racing Bentley and an original condition 1928 Auburn Speedster, both built WAY before I was born. I will venture to guess that many of us who will attend Velo Rendezvous 04 in a few weeks will be drawn to bikes on display built before the halcyon days of our youth, or even to bikes built well before we were even born. Jay Van De Velde Seal Beach, CA