1992 Ty #1844 on Bat (SOLD)

SVO

GMC Racing
1992 typhoon 1844 , 78k miles.
Red/grey.

 
Last edited:

DaveP's Ghost

Active member
I commented about it being a rusty POS from Illinois. The comment got flagged. I'm not sure WTF is going on on BaT, but the prices-paid and enthusiasm has declined rapidly over the past 4-6 weeks. I track C4 ZR-1 prices. In June, 1990s in the 20-30k mile range (the least valuable, because almost 50% of all ZR-1 are 90s) were selling for 28-32k. In late July there were 2 Reserve Not Met at 21.5 and 22k. That's a hit. I think the madness in prices-paid was being fueled by people with Crypto or margin accounts that didn't care what they were paying, because they were using Monopoly Money. The markets have retracted over the past few months.

To put the price paid for this 92 in perspective: When the 92 was new, it cost about $15 to fill the tank with Premium. Even in California. Now it is $130. Fuck Joe Biden.
 

Goodgollyjosh

Active member
I don't really understand your comment about the monopoly money. I have bought and sold crypto currency and I had to use real money to fuel the account initially. From that point, I could purchase different crypto currencies much in the same manner one would invest in different stocks. Once I felt the time was right to pull out I had to convert back to cash in order to spend the money. That is to say, I had to revert back because most of the places I wanted to spend the money wouldn't accept the crypto as a form of payment.
 
I commented about it being a rusty POS from Illinois. The comment got flagged. I'm not sure WTF is going on on BaT, but the prices-paid and enthusiasm has declined rapidly over the past 4-6 weeks. I track C4 ZR-1 prices. In June, 1990s in the 20-30k mile range (the least valuable, because almost 50% of all ZR-1 are 90s) were selling for 28-32k. In late July there were 2 Reserve Not Met at 21.5 and 22k. That's a hit. I think the madness in prices-paid was being fueled by people with Crypto or margin accounts that didn't care what they were paying, because they were using Monopoly Money. The markets have retracted over the past few months.

To put the price paid for this 92 in perspective: When the 92 was new, it cost about $15 to fill the tank with Premium. Even in California. Now it is $130. Fuck Joe Biden.
I honestly believe that people don't want to hear the truth anymore. Anybody that calls a freak a freak or tells it like it is it's automatically labeled in a bad way. You can't say trans people are freaks, can't call the homeless people bums and druggies, you can't call out black on black violence, you can't say anything about illegals pouring into our country. Right now is just clown world. Everybody in positions of power is a fucking clown.
 

QWERTYphoon

Motley Driver Award 2009
There is a lot of monopoly money in this world. Anytime you get a loan, crypto, stealing, handouts, this list is large. Some say as much as 25% current USD currency has been printed since Biden took office. Where did it go? (See above list) It's the middle class that is getting hammered. I am pretty sure our government will send me thoughts and prayers if I need them.
 

wildphil

I Love My Ty's
I don't really understand your comment about the monopoly money. I have bought and sold crypto currency and I had to use real money to fuel the account initially. From that point, I could purchase different crypto currencies much in the same manner one would invest in different stocks. Once I felt the time was right to pull out I had to convert back to cash in order to spend the money. That is to say, I had to revert back because most of the places I wanted to spend the money wouldn't accept the crypto as a form of payment.
I think you just made his point.
 

Poconojoe

Donating Member
There is a lot of monopoly money in this world. Anytime you get a loan, crypto, stealing, handouts, this list is large. Some say as much as 25% current USD currency has been printed since Biden took office. Where did it go? (See above list) It's the middle class that is getting hammered. I am pretty sure our government will send me thoughts and prayers if I need them.
According to the FRED, it's 80% has been printed since Biden, has taken over.
 

DaveP's Ghost

Active member
I don't trade, or deal with crypto. This is the 'classroom' perception I have of what is occurring:

You spend $10 to buy a chunk of crypto when it was introduced. The hype and demand over the years has that same chunk now valued at 1.5 Million. The actual monetary value is still $10. The hype and demand has added 1-1/2 Million to it. That is not "real value" unless converted back into dollars. You have this perfectly correctly. That 1-1/2 Million in currency to purchase your chunk has to be available to someone, or your chunk isn't worth 1-1/2 Million, because it can't be purchased for that amount.

Let's say I have a chunk of crypto as described above, and I predict that this infusion of credit and money creation over the past several years can't go on forever, and as this "money for nothing" dries up, my crypto chunk is going to be worth less and less, until possibly, it may not be worth anything at all. (There won't be the dollars available to a purchaser to buy my crypto.) I like cars, and bid on BaT. I'm confident that I can currently fund the purchase, regardless of what I pay, by selling a portion of my crypto chunk. Let's say I'm the guy that bought the Ty that recently sold for $175,000. I'll soon have a Typhoon in my garage that someone else (the guy that converted my crypto into $175,000 of spendable value) really made possible, but I only have $10 in it, and still have 1.2 M of my chunk left. (I pay 15.3% capital gains when I sell the crypto.) I know I'll never get 175k for that Ty in the future, but even if the rest of my chunk goes to zero, I'll still have a cool car in my garage, that I only spent $10 for. I don't care what I pay.

In the game of Monopoly, the money on the board can only purchase things on the board, and is only an exchange of value for things in the game. As the game progresses, some players begin to have more money than others, they don't care what it costs to purchase a property when they land on it. Eventually, one player has all the money, and all the properties. There is nothing else to buy, and no one else to sell it to.

When I played this game as a kid, what never occurred to me at the time was: At the end of the game, the "winner" really has NOTHING of value. Because no one else can buy it (they have no money). The game is over.

(Yes, I'm in the "deflationary" camp. Eventually. )
 
Last edited:

Goodgollyjosh

Active member
I see what you are saying. Your point is in the value of the dollar or value of the crypto, inflation, and hyped up prices because of what is cool or "in" at the time. Mainly what I was describing is that it feels like real money because the gains are real, the commissions that you pay are real, and the losses are certainty real too. At no point did I feel like I could spend the gains recklessly, I knew there was cash hiding in the cryptos place.
 

DaveP's Ghost

Active member
Mainly what I was describing is that it feels like real money because the gains are real, the commissions that you pay are real, and the losses are certainty real too.
I'll keep this brief. When discussing their portfolios, some people have a misconception of what "gains" and "losses" really are.

Gains and losses aren't realized until you convert (sell or trade) the position back into cash. Unrealized losses and gains are just numbers in your account; I call them vapor because that's where they go if not realized. (Turned back into cash.) The IRS recognizes this as well. You don't pay Capital Gains until you cash-out at an increase. And Capital Losses can be used to offset gains.

You pay $1000 for a position in a particular stock. The market for that stock appreciates, and the stock becomes worth $5,000. You continue to hold the position, the "market" values the position at $5,000. You may think "I've made $4,000". No you haven't. You still have $1,000 in it, so the gain ($4,000), at this point, is un-realized. Now the market for that position contracts, and your position is now worth $2,500. Peeps say "I've lost $2,500". No you haven't. Your position has lost market value, but you haven't lost anything. You still have $1,000 in it. You're still "up" 250%. If you sell at this point, you have a realized GAIN, and will pay taxes on that increase over your initial $1,000.

If the market value declines to below $1,000 and you continue to hold (believing (gambling) that the value may come back up) you still haven't "lost" anything unless you sell for less than $1,000, (It is indeed a realized loss.) But if you hold and it comes back to say $1,500 and you then sell, you have a realized gain of 50%. You may think "I lost $3,500 on this transaction (it was worth $5,000 at its peak). No you didn't. You had a gain of 50%.

The guys that are paying stupid-money for cars on BaT are converting vapor-value into something tangible. This has been going on for some time now in everything. Real Estate, fine wines, artwork, collector cars, all kinds of stuff. Called "Store of Value". It is a hedge (insurance) against the "market" not having the cash in the future to purchase equity positions at current valuations. As the money supply contracts, so will the value of paper assets. Hard assets too. Its called deflation, and even though we are currently in an extraordinary 40-year inflation bump, what goes up must come down. Eventually.

Sorry. Not so "brief" after all.
 
Last edited:
Top