People with cash to throw at the car hobby come and go; many bitter enthusiasts blame them for causing the price spikes and hikes, but inflation is the nature of every collectibles marketplace. And just as true is the fact that when the “monied interests” grow tired of the maintenance and upkeep of real muscle, the cars go packing and the wealthy take up the next big thing that comes along with their spare change.
One factor that has caused the recent price spike has been the publicity these cars have gotten in Hollywood, and that will continue to fuel the interest in them. The Fast and the Furious, Gone in 60 Seconds, and even a Fox “Vanishing Point" remake had put E-bodies back in the limelight. However, Tinseltown is not the barometer of where collector car 
prices will go, nor when they will fall. Not at these levels.
My advice to people who have asked me whether it is time to let go has been to ask them three basic questions. First, can you live without the car, or is it too important to you personally to see it go? With this sort of money flying, nearly every person has said it could go. Second, will you lose money if you sell it now? In every instance, that answer has been no, and they are usually already entertaining a substantial offer. Finally, and most importantly, can you still enjoy the car when it is holding this level of value? If you also answer no to this question (in other words, do you want to drive it and not keep it as a trophy museum display piece), my advice has been to let it go.
We won’t get into the vagaries of tax law, the rear seats of pickup trucks stuffed full of $100 bills, and crazy bank withdrawals -– those are stories for another day. However, should you decide to cash out, it would be best to find out from your accountant what you may need to do once the money is rolling your way. One seller told me he was paid with two bank
drafts, one of which was signed directly over to a rare metals dealer so that it didn’t raise any flags with the feds. Since 9/11, moving money in quantities of $10,000 has been more scrutinized than ever. Be smart here.
My feeling is that any normal correction -- and I believe that it is coming -- will probably see prices fall between 40-50%, with a few desperate sellers getting out even lower. This means that the true market value on Hemi 'Cudas will definitely remain well above $100,000 per example regardless, with $250,000 likely being the median threshold. In my opinion, people in the market to buy such a car will have no trouble finding examples for sale at these prices once this happens; again, rarity is relative with 1970-71 E-bodies. Higher-optioned, well-documented examples are always in demand, so shop accordingly, and remember that parts are not cheap for a correct restoration.
Finally, if you were lucky enough to win the Hemi lottery these days and are cashing out before the market corrects, my advice is to take part of the money you make and build a nice Hemi car replica or G-machine (21st century drivetrain) that you can thrash on the dragstrip, take to the Dairy Queen on Friday night, and drive on the highway like everyone else did before the world went crazy.
Stunkard can be found here at MoparMax once a month, or all the time over at www.quartermilestones.com
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