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coke_and_stuff
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« Reply #23 on: December 23, 2008, 02:16:44 pm » |
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easy borrowing allowed $250,000 homes to get bid up to $500,000 within 5 years.
Artificial prices just made people feel richer than they really should have felt.
You said it artificial prices on homes also reflect on overpriced cars, trucks, boats and yes soda machines, gas pumps and advertising signs.
You go buy a $400,000 house, you can only really afford a $250,000 house
You go buy a $60,000 69 Z28 Camaro, You could only really afford a base model with a 327 for $15-20,000
You go buy a $7,000 Vendo 81 thats been restored, You only really needed the $2,000 very nice original
I can go on....
These people are now starting to come down out of the clouds and are facing reality.
Just like a kid who's butt is stinging from a spanking.........soon the pain will receed
and he will forget all about it, but will grow up wiser.
Yes their interest rates that were not fixed but adjustable kicked them in the butt, the $1,500 house paymant is now $4,500 and up!!!
Did the price of soda machines double in those 5 years? No, and they won't
take the same hit.
in 2002 a restored 81 was bringing on average $4,500, 2006 the same machine $7,000 not doubling but yes inflated
People are just hanging on to their money a little longer. Soon
this will all become like a bad dream and life will go on as before.
No need to drop prices unless you have to sell now.
Most dealers are there to sell, there to pay their bills, expenses, support their families etc. Individuals with the one or two machines may be just looking to sell to have some fun money or pay off a bill or two
Fewer machines available
makes them scarce and the price goes up.........like the Camero.
There arent fewer, but just the same amount as before last year a unrestored Vendo 81 was bring anywhere from $1,500-$1850 on ebay, over the last year that price has fallen to just barely breaking a $1,000 a machine. People see this and therefore the reason they arent being listed.
I have been selling soda machines for 15 years, and rarely ever sell to collectors.
People who buy are well off and not affected by current events. They are all offered
square corner machines at $600.00 but usually choose round corner Vendo 81"s at $6000.00.
Ive been playing with them for 8 going on 9 years, ive got a buddy who has been dealing with them for over 18. Im just a nobody in this hobby, I will build a few machines a year, stick one or two back for myself, when one sells I will build another etc. My buddy has been doing over 70 restorations a year, has established himself, and is well known. He never sold to collectors either, he sold to people who remembered the machine at Grandpas gas station, Did a restoration from a fellow who found it in their fathers barn etc etc etc. He has a huge inventory of everything from Ideal sliders, Vendo roundtops, Cavalier roundtops, picnic coolers, gas pumps, squaretops, candy machines etc etc etc etc. He is down to one last restoration and no work afterwards and doesnt know whats going to happen. His prices have not come down, he sold a generic Ideal 55 slider done up in pepsi missing the rack and coin mech for $4,500 inflated yes! whats that machine really worth? So for in order to keep the operation going what does he need to do? Advertise guess what he has spent thousands on advertising. We plan on hitting alot of shows this comming season, My prices have lowered last month I was getting no interest, Just this last week my phone has been ringing off the hook!
This is a great country and things will return to normal as soon as consumer confidence is restored. What I'm trying to say is "don't give away the farm folks".
Amen to that Glen, But dont give away the farm, like I said before I have roughly $2,500 in the overall purchase and restoration of my Cavalier 72. Market in price in my area for the last year or so has been $6,000. My Buddy sold dozens of 72s around $5,500-$6,000 he has one in inventory right now for $6,000, and Myself has one for $6,000. Guess what no interest. I lowered the price down to $5,000 im now getting peoples interest. Thats still doubling your money!!! The market has been and was overinflated take it as it was make some $$ and move on.
I also said before you can point and laugh if im wrong but this is what I myself and several other people feel what has happened and whats going to happen in the near future!
Joey
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