The L.e.n.o effect

[danfiveten]

It is funny to think for years all people wanted was 2 doors 2 doors 2 doors, now wagons and 4 doors are really being wanted, finally i feel popular since both my dimes are 4 doors LOL

[67_1600]

 

only problem with that line of thought, and the reason that so many of us are saying its the leno effect, is because the major jump in want ads and the major jump in for sale ad prices happened within a week of the video coming out.  its not like 510's creeped up from 2-3k to 5-7k over the course of 2 or 3 years, like how most collector cars start gaining value. this was a doubling in price over the course of a couple days. and the only major thing that happened within those few days was the leno video.  even that article came out after the video, if it had been written before, it might swing some weight.

 

I see a lot of people saying how many more WTB and WTS ads this year compared to previous years (along with higher prices), but has anyone looked to see last year vs this year? No offense intended, but your profile says you joined in August of last year which means you weren't around last spring to really comment on whether this might just be a typical spring bump in people wanting to buy and sell cars. With a bump in people looking to buy there will always be a bump in pricing. The opposite happens at the end of the season - fewer people are looking to buy so sellers can't ask a premium for their cars and prices tend to be lower.

 

I'm not trying to say that there was no effect whatsoever on people looking and selling as a result of the video, but it's not nearly what a lot of people are making it out to be - it's just typical higher demand and resulting higher pricing due to a normal spring bump. The weather is getting nice, some people are getting their tax returns - people want a new toy and often are willing to pay a little more for it this time of year. There will always be sellers trying to take advantage of every little thing to get the best price possible, but how many of the truly overpriced cars are actually selling at a higher price than they should? My guess is a lot of those sellers will be adjusting their prices as their cars sit without much interest due to the price.

[datzenmike]

Don't cry Leno because you're too poor to play the game.

 

 

I have to agree with this. I think the whole Leno thing was funny at first, but I can't believe some people are seriously using the guy as a scapegoat. The prices of Datsuns(most noticeable in 510's) have been skyrocketing over the past 5 or so years. I got into the scene about 7 years ago, just in time to watch things start to get really stupid. About 3 or 4 years ago, I sold a 69 4dr(pretty much complete minus drivetrain) with an imperfect body(not beat by any means) for $450 delivered 2 hours away. This was pretty normal. I've watched a couple people here in the past few years selling 510's for what I thought was WAY too much for their condition, but somehow they still sold(I think just based on who the people were, not because the cars were anything extra special). That created a bubble in the market, and quickly, all the prices of 510's have been driven upward as a result. As that has happened, the vacuum in the market has started pulling the prices of other Datsuns upward. Mix that with the fact that Datsuns for the first time in automotive history are being widely recognized  as "classic" "nostalgic" and "desirable", and not seen as a cheap, throw-away joke of a car, and you now have on your hands a competitive market for what's left. It's not because of a talk show host that nobody seems to care for anyway. All he did was give a 15min pat-on-the-back to a car that was already becoming en vogue.