I Like My Cars Medium Rare

medium rare

After a year like 2020, I started to ponder things for 2021. Most particularly, what makes a car rare? Is it production numbers? Is it trim levels? Who cares about trim? Options? Price? Brand? Color? Where it was made? Number of units sold? Number of units intended to have been produced? Perceived popularity?

Does anyone care about any of that? What do people care about when it comes to a rare vehicle?

Everyone wants a chase car. That is more than likely why Ferrari and Lamborghini will always be highly sought after rather than some bizarre 2004 Buick Regal GSX stage 3 with a supercharged 6 cylinder engine and front wheel drive. But, some of those cars can have far fewer numbers produced than a six figure priced car. So what is more rare? What is more desirable? As the Tootsie Pop commercial says, the world may never know.

I recently saw a 1999 Dodge Durango Carroll Shelby edition for sale on Facebook Marketplace. It is number 53 of only 300 ever made. In your opinion, how impressive is this? The 1999 Dodge Durango is not exactly the most amazing vehicle every built. In the normal world, people do not know who Carroll Shelby was, so is having a Durango built by his shop really that impressive? Is that a flex to normal people? Is that even a flex to automotive enthusiasts? It really is completely up to the individuals. Both the one who owns it and the one or ones who are observing the vehicle. Personal taste is everything and I like all cars, no matter what. I like my cars medium rare.

The True Cost of Hot Wheel Hunting

tcohwh

Face it, hunting for Hot Wheels, as addicting and as much of a rush as it can be, takes a lot of time. As the saying goes, time is money. You might be wondering, how much money does the Hot Wheel hobby cost? Time to do that math!

Let’s keep everything well rounded and easy for this example. If you have a job, you get paid for your time to do the work.

The federal minimum wage is $7.25 an hour. So, at minimum, your time hunting costs at least that, even if it is your hobby. You have to approach it from this angle because if you aren’t earning money, you need to know how much your time would be worth if you were earning money.

Next, according to AAA, the average annual cost of owning a vehicle in 2019 was $9,282 a year, or $773.50 a month. That is $25.78 a day and $1.07 an hour. If you consider Hot Wheel hunting as a job of sorts, you might also want to consider the federal cost per mile rate, which is currently 57.5 cents per mile. That would be money you could be getting if you were not working for yourself. Otherwise, this doesn’t exactly fit into the equation because if one is using their own car, I believe the AAA rate accounts for the cost per mile in the ownership.

Hot Wheels cars can range in price. But, lets just take the mainline cars, and give them a rounded price of exactly $1.00. This example will be for just a single car

The equation is this: cost of time + cost of Hot Wheels + cost of car ownership = true cost to hunt Hot Wheels

If you spent 1 hour hunting for 1 Hot Wheel, the true cost of that car to you would be $7.25 + $1.00 + $1.07 = $9.32

Clearly those numbers can be adjusted accordingly. If the time is less or greater, if the amount of cars are more, and if you go to out to hunt multiple times a week. Even though you are paying a somewhat fixed price for the cost of ownership for your vehicle, the example is only using the average. That cost can technically be higher or lower as well.

So, that means you have to sell your $1 car for $9.32 and that still won’t get you to the break even point. Then there there is the second part of the equation.

The second part is selling and shipping and supplies.

Fees to post on eBay, use Paypal, and have shipping supplies can sometimes run up to 50% of the total cost. So, to sell that $1 car, to break even just from hunting for it, you have to sell it at $9.32. But if you don’t want to take a loss with fees and shipping and supplies, you would have to put the price up to about $15 dollars. That begins to make it a hard buy for someone who might hunt these cars themselves, and doesn’t make $15 an hour at a job. If you make more than $15 an hour, it still is hard buy when you only get 1 car. You might as well go spend an hour hunting and find 15 cars.

It is very hard to make money from buying mainline Hot Wheels on the pegs and reselling them online. There is money to be made, but you have to hunt, you have to hustle, and you have to work very, very hard. You also have to get a hold of cars that can turn higher profits, such as Super Treasure Hunts, or joining the Red Line Club and buy and flip those cars. I will say though, 100% profit is 100% profit, whether you make a dollar profit off a dollar car, or a $30 profit off a $30 dollar car, math is math. You just have to decide what is worth while to you.

Drive Your Ride

Lately I have been thinking about what my generation, those who are around 21 years old, what we will value in a vehicle when we become of age to collect. I have been watching the 2010 Barrett-Jackson auction as much as I can through my busy schedule and just this morning, while getting ready for church, I was watching “My Classic Car,” the final push to write about the value of cars to a younger generation.

I have seen many iconic cars sold on Barrett-Jackson, and have watched so many shows that focus on pristine show cars; flawless in every way, with a history a mile long of celebrities who might have owned them, or the vehicles accomplishments on a track. Those are the vehicles that sell for high dollar amounts, and I believe that those are the types of vehicles that will continue to sell when I get older.

This gets me into thinking about the story behind a car. All those show cars, that have never really been driven anywhere, or done anything stupendous on the track, they don’t capture attention as the ones that have done such things or conquered a spectacular feet.

I am saddened to hear that cars have been tucked away for 5, 10, 20 years, in hopes to be an investment. Sure, when they come to auction in their condition, we marvel at it, but there is nothing about it that makes you stop and say “now that’s a car that I can tell a story about.” Those types of cars will just go on to sit another 10 years in a garage, to never be enjoyed.

I would look for a car that has been loved. One that has been driven for the purpose it has been built. I predict that when I get older, the cars that are battered, rusted slightly, and have a 10 mile long list of owners and accomplishments will be the cars that sell for the highest amount. Those who truly value a vehicle know that every car has a story. Some deserve a story, some earn a story, but either way, give each vehicle that chance. Drive your ride.