Vintage Automotive, LLC

32^nd Annual Spring Carlisle Swap Meet & Collector Car Auction

By: Bryan W. Shook, Esquire

Email: bshook@dcdlaw.net

The 32nd annual Spring Carlisle Swap Meet & Car Corral are about to get underway.  Officially the event runs from April 21 through April 26, 2009, but large vendors are starting to arrive today.   Carlisle’s swap meet offers what might be the best selection of automotive treasurers of any swap meet in the world.  For the automotive faithful that make their annual trek to Mecca, the weather for this year’s Spring Carlisle looks to be better than most years, with forecasted highs in the low to mid 70s and clear skies!  I know, the diehards will be depressed … “What no rain, how can it be Carlisle without rain???”

A change for this year’s event is that the Collector Car Auction will be held on Thursday and Friday nights, April 23 & 24, 2009 at the Carlisle Expo Center.  Also new for Spring Carlisle is a cruise-in to be held on Sunday at the grandstands.  This follows last fall’s successful Sunday cruise-in.  I look for several hundred cars to attend.

As for the auction, there are several very appealing lots.  With more than 250 vehicles scheduled to cross the auction block, there is certain to be something that appeals to everyone!  See you in Carlisle! Http://www.carlisleevents.com.

Attorney Bryan W. Shook is a devoted automotive enthusiast, but is also an experience litigator who devotes a large portion of his law practice to helping other collectors and hobbyists understand today’s market.  Attorney Bryan Shook is available throughout the United States for consultation, advice, and information. If you’d like more information about this topic or would like to speak with Attorney Bryan W. Shook please email him at BShook@dcdlaw.net.

Bid with knowledge. Buy with confidence. – Vintage Automotive

As was recently discussed on the Antique Automobile Club of America forums, the issue of diminished value with respect to antique and/or collectible automobiles often comes up and is often misunderstood.

A pretty convincing case can be made for a diminished value claim with respect to a late model vehicle.  These claims are usually reserved to higher end vehicles such as Ferraris, Aston Martins, Lamborghinis and other exotic and connoisseur type automobiles.  A diminished value claim with respect to your late model entry level mid-size vehicle is much harder to establish.

There are a few theories as to the application of diminished value claims.  One theory is that the market for these higher-end vehicles is rather small given their costs of acquisition and subsequent ownership and accordingly when a damaged or previously damaged vehicle comes onto the market, the market will not bear the same result as though a non-damaged or non-previously damaged vehicle had come onto the market.  It’s simple supply and demand.  These vehicles also tend to be purchased by a customer, driven slightly for a year or so, then traded or sold to fund the purchase of a newer vehicle of similar distinction.

A second theory is that the vehicle is only original once and any time a repair is made to a vehicle, especially to the body of a vehicle; one can never tell how well the repair was made until time passes and flushes out any problems which may “pop” up.  Also, if the repairs require extensive recreation of body panels, the shape, feel or “look” of the panels can be off and subsequently not appear as correct as original.  If only a portion of the vehicle is repaired and repainted, even if the paint matches today will it always match or will a slight color difference be noticeable in certain lighting situations or a few years down to the road?

Either theory may serve the purpose depending upon the facts, namely the desirability of the vehicle, the general histories of the make/model and the type of loss to the vehicle.  With that said, the law of supply and demand has driven the prices up in recent years for collectible and antique vehicles and accordingly, as with any vehicle, the cleaner and more original, the more history or untouched a vehicle is, even if restored, the higher the end-price paid by collectors.

Inherent diminished value claims do have a place with respect to antique and/or collectible vehicles however, the application is dependant upon the facts.

What is true however is that there has been a sharp rise in the appreciation of the collector car market over the past five or six years.  This may well be changing now as we see the market starting to slow and the best cars not coming to auction.  Over the past five or six years it seems that nearly every auction had two or three excellent examples that served to set or raise the value bar for that particular model … with the global economy the way it has been since September, I do not believe you’ll see cars of that quality in that number for a while.  Save for the GM sale’s this Winter/Spring at Barrett Jackson.

This blog entry was written by Bryan W. Shook, Esquire. Attorney Shook is a devoted automotive enthusiast who represents collectors and restorers and works diligently to combat fraud, misrepresentation, and other collector vehicle issues throughout the hobby. Attorney Shook is the founder of Vintage Automotive, LLC and is a member of the AACA, the SEMA Action Network along with various other automotive related organizations. He can be reached by email at bshook@dcdlaw.net  or (717)975-9446.