June 2005

Where Have All the Cheap Cars Gone?

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The first issue of SCM roared off the presses (or more accurately, was spit out of a mimeograph machine) in 1988. We were just in time to ride the upsurge in the market through its crest in early 1990.
I was buying and selling sports and imports at the time, and day after day through February 1990, my fax machine kept spitting out orders from European clients. Selling nearly anything wasn't the problem; finding something to sell was.
One of my favorite deals was a Daytona, located in New York, which had burned to the ground. The carburetors and distributors were completely melted. I sold it with a phone call for $115k-I think my commission was $10,000.