valhalla360 wrote:
JaxDad wrote:
A 50+ year old farm tractor like mine sold recently near here for a little over THREE times what my grandfather paid for mine when it was new.
Depreciation is a non-existent thing today.
That's a little different situation. Depreciation eventually bottoms out and then the underlying condition and value of the item takes priority. Depreciation probably maxed out on your tractor at around 15-20yrs. After that inflation started pulling it back up relative to the non-inflation adjusted original price.
Of course a good tractor can be completely functional at 50yrs, so it retains a good underlying value.
Your average run of the mill 1970 RV in typical condition has a underlying value of a few dollars based on the scrap metal.
But to the OP's original post, once you update that to actual sales prices, 5yrs is likely resulting in 30-50% reduction in prices. Pretty typical depreciation.
CASE IN POINT....this weekend the Decades channel was showing the rerun of the TV series "Route 66". Buz and Todd drive a 1962 Corvette Stingray that sold for a little over $4000.00 brand new. Worth a bit more today!!!!
