07 Pete 379 sells for $280,000

379 Pete's and W900L's have always had a higher resale on the used market than any plastic truck. But who buys new trucks to park with the hope of an investment return on it? It's a tad loony. You're better off in traditional investments.

Barn find 20 year old pristine, undriven Volvos? Nobody would do that with a Volvo. Not in 'merica they wouldn't although I'm sure there's a market for a truck like that in Chicago. A 2007 VNL Volvo with 20,000 original miles barn parked for $280,000 today? No way..

 

I don’t feel like the people who are buying them to hold 20 years are doing this in place of normal investing.

 

No they're like the old timer you knew with the 359's. He bought those for the love of the trucks and kept them like a kid with tonka trucks. Wouldn't dream of selling them for any price. Then there's a finite supply of people who'd actually pay that much money for such a truck and an equally finite supply of the trucks. Trucks are tools not investments.

 

I agree with all of this, I guess I misunderstood your last post. I feel like to those who love certain trucks and have money, those truck purchases can be like classic cars. While some people may not understand the why, it’s not important that everyone understands to those that have the resources.

 

Trucks are only “tools” if you have to use them. If they don’t have to be used they’re no different than anything else with wheels and a motor. If someone has the money to park something and look at it more power to them.

 

There are Operators
and
There are Collectors


Very different people

 

The purchase price of that truck is less money than the fuel used in there private jet every year. There are a lot of people that can and do spend $500k or $1m like we spend $1k.

Guy I get my loads from has 4 or 5 custom built muscle cars and 2 others being built. Easily $1m in them….. never seen one outside his barn… Has nothing to do with investing. I’ve never seen him drive anything except his 2010 rusted out Chevy 4x2 1500 pickup.

 

I'm assuming he paid somewhere in the $120-130k range for it, although they were careful to dance around that one. He did okay on it...certainly didn't lose money, but when you factor in nearly 20 years worth of inflation, he would have been better off putting it into the S&P 500.

 

I doubt too many people with that kind of money to throw around would have any interest in buying an old semi truck. Show/collector trucks are an extreme niche thing that really only people in the industry have any interest in. Collectible/show cars are a much wider audience and practical to buy/own/sell by comparison. They can still be used for fair weather personal transportation or Sunday joy rides that rich people can park in their 5 car garage. A show/collector truck really has no practical use at all aside from driving it to and from a truck show. I'd be out running the #### thing because that's the only way you're really ever going to get to enjoy it.

 

No doubt about that.. just a ROI of 10% a year over 20 years on a 120k investment is 240k.. this doesnt include dividends or compounding interest that you would recieve... I mean investing money in anything other than trucking is usually a way better idea...
But most car and truck and hot rod enthusiasts dont do this for the money. Its because they love cool ####, and to me thats priceless... The guy bought a rare gem and is gonna have one of the most unique rides at any truck show