TMCP #569: ASK RICK: Best ROI on Auction Cars and How A Presidential Election Affects Restoration Parts Sales
Rick’s Take on the Presidential Election 2024:
Every four years we experience a Leap year and another round of picking a new president. With this event comes another round of presidential ads, throwing of mud, and an substantial amount of finger pointing. I have heard many times in the past from suppliers regarding their outlook on the future around an election cycle and many will stop any unnecessary spending based on the uncertainly of the outcome of an election. Some will even cut out expensive trade shows (SEMA included) that they would normally attend in an attempt to save up for the rainy day they believe is headed their way.
I decided to ask Rick what his experiences were regarding this phenomenon. NPD is run very conservatively and keeps higher than normal reserves for low times and fluctuations in the market so Ricks response was very interesting. He said that he does indeed notice a flattening in sales in relation to a Presidential election. That said, it’s not just at election time, but over the whole election year. It seems like everyone gets nervous and holds back on spending. Once the whole thing is over and the parties have been decided, Rick says that people generally go back to buying for their hobbies and it is back to business as usual.
TMCP #566: ASK RICK – Muscle Cars At Mecum Bringing Big Money, The Best ROI is on “Junk”, and we own a 944!
ASK RICK – Muscle Cars At Mecum Bringing Big Money, The Best ROI is on “Junk”, and we own a Porsche 944!
TMCP #563: ASK RICK – 2024 New Years Business Goals; How to Get the Best ROI for Buying and Selling at the BIG January Auctions!
ASK RICK – 2024 New Years Business Goals; How to Get the Best ROI for Buying and Selling at the BIG January Auctions!
TMCP #557: Ask Rick – Thanksgiving 2023 – OEM EV Strategy Change – and SEMA 2023 Winners!!
TMCP #557: Ask Rick – Thanksgiving 2023 – EV’s Are Slowing Development – and SEMA 2023 Winners!
TMCP #554: Ask Rick – Whats The Big Deal About SEMA? – UAW Strike, The Real Flaw In The System – Henry Ford “X” Engine – Listener Questions – Cars Picks of the Week
It is now October so be on the lookout for ghosts and ghouls at Halloween. This is time for costume parties, trick or treating, and another riveting Ask Rick segment were I ask him the tough questions that not everyone wants to hear! As always Rick delivers sage advice and wisdom founded in years of buying and selling classic vehicles. In this episode we waded into the topics spanning from “how do I store my classic vehicle” all the way to “how do we fix our broken governmental system.” As always the answers are entertaining, polarizing, and sometimes surprising.
TMCP #552: Ask Rick – Is it Wise (or Possible) to Have Collector Cars as Your Retirement Investment?
It is September and football is back!!! It is also time for another riveting Ask Rick segment were I ask him the tough questions that not everyone wants to hear. As always Rick delivers sage advice and wisdom founded in years of buying and selling classic vehicles. When it comes to cars as investment, possibly a with a great ROI, Rick has strong opinions and advice here. Can it be done? Short answer; yes! Should it be done? Long answer……maybe.
As with all things, it depends what you understand and where you can make your gain on the purchase of the car initially. For Rick and his dad, their collection has immense value today of course, but every car in inventory was chosen for it’s specialness to the Schmidt’s not as a hedge on a great investment. They chose high quality low mile original cars and didn’t just stick to muscle cars. Their collection has many examples of unique rare American cars that have less than 1000 miles (think Rivieras, Eldorado’s, and Lincoln’s).. Some have interiors with the delivery plastic still in place! Others are beautifully restored treasures. Today, it’s paid off. Technically, it could payoff if they ever chose to sell….which they almost never do!
TMCP #548: Ask Rick – How To Know If You Have The Best Insurance For Your Classic Car
It is August and time for hot August nights and some of the greatest car shows ever! Thousands of people will dig out their cherished vehicles this month and attend massive gatherings such as the Woodward Dream Cruise. When you get that many people in once place accidents will happen and you need to make sure your insurance is correct. In this edition of Ask Rick, I inquire as to what insurance Rick uses and how he knows it will cover his needs. It’s a boring topic…but one we all need to get right more than ever.
TMCP #546: Ask Rick: Getting the Details on Detailing Award Winning Show Cars
It is July and and time for all of the great summertime activities like fireworks, trips to the beach, and summer car shows! This month the show went completely off the rails from what was planned but that is a great thing for YOU! We covers many great topics from best car detailing practices, to when is a great to to delegate work, and even touching on why the 1984 Toyota Celica GT is such a great car. Stay tuned and listen in as Rick speaks the truth in no uncertain terms about the topics you love to ask to hear.
TMCP #542: Ask Rick – Mecum ’23 Indy Auction Recap, What Sold, What Did Not, and Why You Need To Check The Paperwork!
It is June and finally the start of summer is upon us (technically it’s June 21st…but who’s counting). The recent Mecum auction ended with some very interesting surprises and apparently some gossip and fallout after the bidding was all done. I Asked Rick what he thought about the prices and investment quality of the offerings this year as well as his take on some cars that I was considering until the prices went up!
TMCP #539: Ask Rick – Good (and Bad) NPD Sponsorships, The End of of the Challenger and Camaro, and Investment Cars!
May is here and car shows are starting up across the nation. Also Cinco de Mayo and Memorial day are around the corner and the official start of summer is near. I hope you have your car out or your project almost done to a point where you can drive it and enjoy the warmer weather. This time I decided to once again Ask Rick about six cars from two different categories. The first set of cars are of “pedigree”and have either a track record or history that makes them special. The other category is $10k starter cars that are ready to go out and make some summer memories. Ricks take on these is always clear and to the point.