Classic Car Sales Lag at East Coast Event

Jun 5, 2010

Teresa Ann Boeckel with the York Daily Record spoke with people trying to sell their classic cars at last weekend’s Street Rod Nationals East Plus in York, Pennsylvania. While there was some interest, many had trouble finding buyers willing to meet their asking price.

Mike Eberly of Conewago Township told Boeckel he’d been trying to sell his teal 1934 Ford Coupe for a few years because he wants to build another street rod. Eberly heard from visitors that his street rod was nice but no one made any serious inquiries about buying it. He was asking $38,000 for the car and had reduced the price.

Jim Lape, owner of Lapes Auto Sales in Lebanon County, which deals mainly in classic cars, told Boeckel owners have dropped their asking prices in recent years but don’t want to cut too much because they want to recoup their investment and know the value of their vehicles will come back when the economy recovers.

In 2008, Lape sold 39 classic cars, but only sold nine last year, according to the article. He’s sold about four classic cars this year but believes the market will come back.

To read Teresa Ann Boeckel’s complete report, click here.