2003 Sold for nearly $34,000. Does this set a new price point?

That is insane and the person that paid that is probably eating crayons for breakfast. I made a spreadsheet of recent sales that has the mileage, price, and date sold. My data only goes back to 12/2/2019 and I am sure I don't have all sales from auction websites. However, the highest one I found was 148 miles and it sold for 40k on 5-29-2022. The next one is about 3k miles and that sold for 25k on 9-9-2020. What I have found is that prices are all over the place, but I was most curious about prices for the past 3 years. They overpaid tremendously if you go by this spreadsheet. So, in my opinion it doesn't set a new price point. I just think we are currently in a weird time when it comes to people overpaying for everything. Houses, vehicles, sports tickets, etc. but what do I know. Everything is only worth what someone is willing to pay.

Average price is $18,847.07 for the 15 total sales I found. Only two had over 100k miles. 150k and 113k. The condition of all cars looked really good. Also, for what it's worth a 41k mileage mm sold for 16,200 on 12-2-2019 and 35k mileage sold for 21k 1-29-2020.
 
The like showroom condition low mile ones are not going to drivers they are going into collections to park in there show room with all the other expensive cars. Like a million dollar HEMI CUDA or GTO convertible. You may think a MM is not there yet but all limited production cars are there. More and more buyers with unlimited funds $$.
 
TORINO said:
The like showroom condition low mile ones are not going to drivers they are going into collections to park in there show room with all the other expensive cars. Like a million dollar HEMI CUDA or GTO convertible. You may think a MM is not there yet but all limited production cars are there. More and more buyers with unlimited funds $$.
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Very low mileage ones I can understand. Is 36,335 miles considered low for collectors? Or is it more about the condition, but then what is the mileage cutoff? I mean 70k miles on a 2003 is not a lot for a 20 year old car. I have no experience in car collecting so I am curious. Also, what makes a car more valuable over time is how popular or sought out the vehicle is, right? If so the buck stops when that group of people die off. So, in 50 years the MM could be worth a lot less because no one wants it. Which is because the younger generations are into something else.

My opinion is the people that are buying now are those that were teenagers when this car came out, or in their 20s and couldn't afford it. Now those people are in their 30s or 40s and have the money to buy something they really don't need but want. For instance I was 19 when the 2003 MM came out. I grew up playing racing games and I loved the Crown Victoria plus it was used by police. So, it has that "badass" appearance to me. It is nostalgia for me and I truly love the big V8 sedans. That has to run out at some point is what I am trying to say. I could be wrong though.
 
These cars didn’t have a price point when sold new. They’ve been nothing but a roller coaster since.


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Sold for $25,101. So $29,000-$25,101 seems to be a reasonable value since the car turned 20yrs old. I expected that the nice ones would start to come up in price a little since they are 20 years old now. There is also something magical when cars turn 25 yrs old, their seems to be another price bump for good ones. So maybe buying a good one now has an upside?
 
I don't know if you pay attention to any financial news, but we are for sure headed into a recession. Recently Warren Buffett said there is a slowdown in consumer spending. The FED still has a ways to go with inflation so more interest hikes are on the way. Which means more people losing their job and not as much spending. Who knows how long all of this will take and last, but you can bet it is going to happen.
 
That car was filthy and rusty underneath. Ick. My two are showroom fresh -- Neither have been rained on nor driven in rain, or wet streets or puddles buy (South West Coast cars!)
 
ghost261 said:
I don't know if you pay attention to any financial news, but we are for sure headed into a recession. Recently Warren Buffett said there is a slowdown in consumer spending. The FED still has a ways to go with inflation so more interest hikes are on the way. Which means more people losing their job and not as much spending. Who knows how long all of this will take and last, but you can bet it is going to happen.
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So you are forecasting War?
 
The post industrial war complex = war is profitable for America. (Notcliaming this to be good or bad). I think he is thinking runaway inflation, which has already stemmed. The real fiscal issue right now is the (total facade) debt ceiling.
 
Maybe that all went over my head but I am not talking about war at all. Yes, the current war has hurt the world economy. However, the American housing market makes up 33% of CPI. The FED needs to fight inflation which means higher interest rates. That alone changes the landscape for jobs and housing. Less hiring, more firing. Less investing because it costs too much. Less lending because it costs too much and standards get more strict. The market goes up and down and eventually it will go down again. I don't pay attention to the debt ceiling because like 1marauder said that is a facade. It is the same **** every time. It was like this last time. They will raise the limit and everyone will forget about it the next day. Then they will do the same thing next time. Media outlets need something to talk about to get clicks and views.
 
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