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 #564: 15 Year Anniversary Throwback – The Time I Landed Richard Petty, The King of NASCAR!

It is hard to believe that in May of 2024 it will have been fifteen years since I carved out a hole in my basement and started recording this podcast! Many listeners have tuned in and followed along as I met people from all across the automotive world and simply asked the questions we all wanted to know about business and cars. I had no idea that 15 years later I’d still be in the business, nor did I have a clue what a life defining thing this would become. In a nutshell, this podcast (and you) have changed my life.

I am blessed to have started the show during the pre-podcast boom and have been able to use it to go places and see things that were far above my punching weight. I’ve had backstage passes, met stars, and attended events with all of you listeners along for the ride. I’ve raised a family along with way too, lost a parent, and had the chance to build and drive cars with my best friends. You have given back to me with friendship and support for chasing my dreams while creating a place we all can enjoy, The Muscle Car Place.

Many great and exciting things have happened since that start but one of my most memorable was getting to talk to the King himself, Richard Petty. At the time the “new” Challenger was still fairly new,  and who knew it would go on for another twelve years and the most amazing cars that were not even imagined yet. It was pretty exciting to see Daytonas once again on the streets, even if in limited numbers, as Petty Garage made special editions of the Challenger with the iconic nose and wing of the NASCAR heydays. I did get to ask him about his racing career and recorded every glorious second of the conversation in Episode #76 way back in 2011.

In every great sitcom there is the throwback episode where they queue the wobbly lines and memories from previous episodes come back based on a vague story line. This week the throwback episode, is my interview with Richard Petty. Enjoy!

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 #541: Topher McGinnis – The Headlight Motor Man Can! Restoration for Hidden Headlights, Open to Close!

This week our guest was Topher McGinnis, otherwise known as the “Headlight Motor man.” He is the person in the vast world of “MOPAR hidden headlight restoration” and has found a unique way to service a very specific segment of the restoration industry. I didn’t ask him specifically about non MOPAR applications, but I’m sure he’d be willing to help give advice one way or the other!

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.

TMCP #537: Ask Rick – Lessons Learned to Promote (or Dismiss) Employees; Plus an Easter Project Car Review Blowout!

April is here and Easter is upon us! For some of us, Spring brings on the need to get out our cars and get them ready for driving. For others it is the time to look for a project car to work on since it is now warm enough to spend hours in the garage or driveway bringing it back to life. This time I decided to Ask Rick about not just three but SIX cars to get his take on; 3 were crusty (but promising) restoration projects, and 3 were terrific (and affordable) examples of 3rd generation Pontiac Firebirds/Trans Ams that might be good fits for my son to take on. However, we started by addressing some thought listener questions on business: promoting and dismissing employees.