Asset Values

[calibeach76]

I took to a couple of websites today looking at part exchange values of our vehicles... in one week my wife's Q5 a 2017 model has dropped from £21,000 to £11,000. So I put in the details of the Cali which we buy any car valued last week at £38,000, today... £24,000. Dark times...

 

[soulstyledevon]

High value assets are worthless now.
Cash is king, preferably dollars...

 

[calibeach76]

High value assets are worthless now.
Cash is king, preferably dollars...

I haven't tended to keep my money in dollars...

 

[Jay gas]

I haven't tended to keep my money in dollars...

I’m invested in gold a pretty safe bet with everything going on

 

[calibeach76]

Good move but unless you physically hold it in your mits it's paper money...

 

[subthree]

I took to a couple of websites today looking at part exchange values of our vehicles... in one week my wife's Q5 a 2017 model has dropped from £21,000 to £11,000. So I put in the details of the Cali which we buy any car valued last week at £38,000, today... £24,000. Dark times...

Only if you actually need to sell them. Otherwise in a couple of months hopefully normal service will have resumed as will their value. I'll give you £24k for your Cali!

 

[calibeach76]

I think you need to realise this is going to be 10x worse than the great depression. It has been planned for a long time. Welcome to the hunger games...

 

[Eber123]

Good morning,

I thought the new currency is toilet paper

Clean California,
Eberhard

 

[Ch1pbutty]

I took to a couple of websites today looking at part exchange values of our vehicles... in one week my wife's Q5 a 2017 model has dropped from £21,000 to £11,000. So I put in the details of the Cali which we buy any car valued last week at £38,000, today... £24,000. Dark times...

Great news for us, we were thinking of replacing our 2nd car soon.

 

[soppelsa]

Gold has dropped like stone its usually a safe haven! Cash and food is king.

 

[calibeach76]

Great news for us, we were thinking of replacing our 2nd car soon.

/
at a time like this you think a 2nd car is a priority?

 

[Ch1pbutty]

/
at a time like this you think a 2nd car is a priority?

Our China office is now back to normal as a result of a full lockdown during the early stages.

 

[calibeach76]

 

[willwander]

My pension pot is down 30%

 

[Velma's Dad]

A golden rule in all capital markets is: if you're going to panic, panic early. Too late for that now.

But have a look at global asset prices (notably, shares) over the long run since before the 2007-8 financial crisis. It shows that even the deepest downturns are temporary, but if you sell in a trough you're crystallising a loss and if you think you can successfully time getting back in before the up-turn, well your crystal ball is better than mine.

 

[ArunAlec]

A golden rule in all capital markets is: if you're going to panic, panic early. Too late for that now.

But have a look at global asset prices (notably, shares) over the long run since before the 2007-8 financial crisis. It shows that even the deepest downturns are temporary, but if you sell in a trough you're crystallising a loss and if you think you can successfully time getting back in before the up-turn, well your crystal ball is better than mine.

I think crystal ball is about right! The fact that the superstar Woodford came a cropper should be a warning to all.

 

[ArunAlec]

Good morning,

I thought the new currency is toilet paper

Clean California,
Eberhard

Trouble is most of us haven’t got any!

 

[soulstyledevon]

Only if you actually need to sell them. Otherwise in a couple of months hopefully normal service will have resumed as will their value. I'll give you £24k for your Cali!

You won’t see dramatic rises...
This thing isn’t over in 6 months. This is a generational game changer. Assets wont recover for a very long time.
It’s survival of the financially fittest

 

[Bramco]

I think crystal ball is about right! The fact that the superstar Woodford came a cropper should be a warning to all

He came a cropper for different reasons - and investors in his funds should thank their lucky stars he crashed and burned when he did, or they would be looking at another 30% drop on top of what they'd already lost.

I'm not sure the end is in sight, at least not for us here in the UK. We've been getting quotes for a kit house from Germany. When we started the pound was about £1.20, it's now about £1.05, so a lucky UK timber frame company will be getting the order. Although they import their wood (it's better quality), so we can expect their prices to rise soon.

Given the drop against the Euro, everyone should brace for at least 5% inflation soon.

 

[Jay gas]

Good move but unless you physically hold it in your mits it's paper money...

I have some of it on my mitts loads of it hanging off my missus some in the bank and some invested. It sure ain’t making up for the drop in my pension lol

 

[Ch1pbutty]

A golden rule in all capital markets is: if you're going to panic, panic early. Too late for that now.

But have a look at global asset prices (notably, shares) over the long run since before the 2007-8 financial crisis. It shows that even the deepest downturns are temporary, but if you sell in a trough you're crystallising a loss and if you think you can successfully time getting back in before the up-turn, well your crystal ball is better than mine.

Now a case of choosing best time to buy

 

[2into1]

I would have the only way to even start to deal with this is to create new money. In the old days paper money, now quantative easing. This time it may be a universal wage so at least it gets to those who need it. So surely existing cash will be diluted, hence the pull of gold, and other gold substitutes such as California’s. Extra cash creation always drove inflation.

 

[2into1]

Regarding webuyanycar etc, off course they will be dropping their offers. There will be plenty with too high debts having to sell assets, so they can offer less. At the other end, who is going to be buying their stock when the world is shut down (including campsites). They sell them on through auctions which will be closed.
They are pricing so they only attract the desperate sellers, which will give them the huge margins (gamble) to sit this out.

 

[Jodalo]

Cash is definitely NOT King at the moment. Rotting away in a no interest account. As usual property or land seems good.

 

[Jontymo]

The positive with cash is it will hold its value. I think this pandemic will hit everything with a value including property.

I need to stop looking at my pensions as it is eye-watering the drop in value over the last few weeks.