Bill,
Point well made, however a few things you didn't address must be. The well heeled group has not been hurt much by the last 12 months. This group almost always buys new name brand cars, thus the strong sales of SPF's, ERA's, Kirkhams and the like.
The people hurt by the economic down turn are the middle and upper middle class - the group that drives the upper end of the used toy market. I suspect the lower level new car markett is now getting this group of buyers.
I would probably jump at a good used high line replica if it were priced at 70 to 80% of new. I won't pay a premium for the excess motor or a silly signature (CS) on the hood or dash. I am looking for a car that can be driven several hundred miles without incident and gets more than 8 mpg. In my opinion a car that cost $50K new is worth $42K tops not $52K. As I have said before the cars are way cool but not rare. I bet I can find 25 SPF's less than 4 years old on the market - bet you can't find 25 buyers.
I hope to be driving one the better cars come spring but I will not pay a premium.
