My how time flies. I check my blog and realized it's been since September since my last update. I apologize to everyone for not being more attending.
As far as the corvette market, last year finished off well. I an economic down turn/ recession, there have been many businesses that have gone. A lot of my friends have lost all they have. I am so great full that even though times have been hard that we are still even here unlike many others. Many thanks to all for your support through the good and bad times.
Arizona in January was a good indication of the classic car market in general. After 3 years of hard times and up and down prices, I think we have finally had our market correction. All the auction prices finally reflected the real retail market value of classic cars across the board. All the prices were down, but at least realistic. There were a lot of bargains out there for the retail buyer.
Reports from my off shore buyers show that the export market seems to have slowed down a lot. Even though the US$ is still very weak in world currency, I think that the frenzy of overseas buyers taking advantage of their strong currencies and cheaper car prices has saturated their our countries with our cars. If you compare overseas advertised vehicle prices today for the same time last your, they are down at least 20%. A lot of their buyers are experiencing what we have and a have lost money on their cars.
On the home front sales for the first half have been up and down, but over all reasonable. The auction seen seems to also be steady and hold their prices. Next week is Barrett Jackson in Orange County and Bloomington in St Charles. Bloomington will be a good indication for the corvette market. This year I will be going to Bloomington.
In December I was appointed to the position of Co-Judging Chairman for NCRS, Southern California Chapter. That was a great achievement for me.
Since then we have had a chapter meet and 2 judging schools. We will be holding judging schools every 2 months in the future if anyone wishes to attend. We basically mock judge cars to help new judges learn the ropes faster. We also have another chapter meet coming up in Big Bear and a regional meet in Sacramento. Next year we will have the nationals in San Diego. Busy, busy.
Finally, I would like to announce that we are moving again. Third and last time. We are buying a building here locally in Costa Mesa and should begin our move in July. Check the web site for details.
Signing off for now.
John
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About Me
- Down Under
- Costa Mesa, California, United States
- GM Down Under is a licensed, bonded dealership, located in Costa Mesa, Southern California. We have been in business for 11 years. In those 11 years, we have been exporting European and American made vehicles of all types, all over the world. Most were purchased from us sight unseen. Because of this honesty & integrity, we have been very successful in our business. These days, we are mainly specializing in Corvettes and some special interest classics. We are also a member of the National Corvette Restoration Society "NCRS". Our membership number is 33762. Qualified Master NCRS Judges on staff.