Germans fearful of euro collapse, invest their money in durables

Yes 99% do drop .
BUT if you know what your buying you could do quiet well
It's all about knowing the market

 

Oh i'm sure you're right, just thinking i'd want to be putting my money into something a bit more liquid than a high end collectable car (even though i'm a huge petrol head myself). I don't know maybe some beachfront property that's depreciated significantly since the crisis began.

 

Having said that, what's the bet that the potential market for those sorts of cars are so small that all the investors in it probably already know each other (sort of like a behind the scenes sotherby's expose I watched recently ... read the art scam).

 

I have a 270 and a 310 and never any problem except Tyres.I do have Turbo experience and can reprogram the igniter with Motec on the non stock one.
I also have a Getz I drive to the supermarket and tattoo parlour.

 

I know the market & the industry ,it's not for everybody
The only way I would put that kind of $ into a vehicle like that .
If I had Millions lying around & property all round the world , I wouldn't go there with less than a $100m bank balance :lol:
And I wouldn't touch the BMW or the Roller , I'd go pre WWII Mercs

 

Wish i had that sort of money to throw around

 

If you are joking about people buying "Garagengold", do not forget, this report is about Munich. With Starnberg and Grnwald close by, there are a lot of very rich people living in the suburb. Most of those people probably already own a couple houses, work of arts, their own jacht and so on.

This threat is interesting because Germans are actually changing their behavior.
I can see that everywhere. Usually we Germans tent to saving, but due to the crisis and the fact that Germany is taking more and more Garantees for other countries, more and more people, come to the conlusion that it is better to spent the money on their own behalf, bevor it is taken away from them.

By the way, I am living in Munich, but belong to the middle class. Most of my acquaintances invest their money in buying or repairing their houses, some are just consuming and others like me prefer precious metal.
But it comes down to the bottom line. German behavior is changing rapidly from a bunch of money savers to comsumers.

 

I have not yet personally made this experience, but that does not mean much. For many people, really saving or even investing money is hardly possible, because the expenses are raising and the wages are effectively declining. In general, the middle class is shrinking, whereas the number of "poor" people as well as the number of obscenely rich people is increasing (a common pattern in most countries, I think). And those who still belong to the middle class probably spend their money on consumables, and not so much on luxury goods. However, it seems that those who really have money and want to park it somewhere do this - not only in form of cars in their garage, but only in form of the garage itself, usually equipped with a house as an aside : There are already signs of a housing bubble. Not only because of Germans, but also because the rich people of "poor" countries (Spain, Greece...) are carrying their money to Germany in wheelcarts and buy flats and houses.

 

To SIlber and Kraut,

Is there anger in Germany towards the Greek community living there?

I realise the German taxpayer is angry towards bailing out Greece, but wondering what the attitudes are towards Hellenes living and working in Germany.

 

I hardly register anger agains the greek people. Yes their is anger against the corrupt system, against a certain elite that is living luxury live at the expence of everyone else. But most people realise that the problem is not the bulk of the greek population. In fact there is a lot of pitty for the most of greek people. Theres has been a report on television about greek families having to bring their kids into a childrens home, because they are unable to support and feed them. To think that this is possible in Europe is a very, very disturbing thought.
The saving measures taken in Greece are very hard and the wrong people have to suffer for it. Greece by the way like Italy has a couple of very, very rich people, and they are not touched by the measures or taxation at all.
Personally I am a little mad that so little is done about coruption. That the german taxpayer is garanteeing money, that is sent to greece, but which does not reach the greek people, but is going straight back into our housing market (building a bubble there) by corrupt banks and politicians.

 

Of course, few personal and individual impressions do not necessarily say anything about a general attitude.

But concerning this point, my impression is that many people are angry and annoyed, and even feel the typical "German Angst" about becoming responsible for the debts of others, but this is NOT aimed at the Greek people - neither those in Greece nor those living in Germany. Instead, it is aimed at the governments. On the one hand, the former government in Greece, which can be considered as being responsible for most of this trouble, but also at the moloch of EU and the individual governments, which seem to have no real plan or idea of how to get rid of this mess (and, by the way, somehow "forced" the Greek people to vote for the same government again, by implicitly threatening them with being thrown out of the Euro when they don't vote for a government that obeys to the austerity plans). It's a difficult situation, indeed. Many seem to see the bailout payments with a hint of irony (or sarcasm) - anyhow, there's hardly anything else that we could do. But as far as I can see, there are hardly any real negative feelings against the Greek people. (In fact, especially concerning Spain, the opposite is the case: The German government just started to acquire young, unemployed (but well-educated) Spanish people as skilled personnel for the German economy - THAT's a way of robbing a country its most valuable resources :/ )

 

Late reply - had limited internet lately.

Snip just saved me from quoting way more than I was posting. Forum etiquette if you will..

 

Somebody with some taste, although I would also have to put the Gullwing into that as well

 

I've had this conversation with Jeff Dutton (http://www.duttonsportingcars.com.au/ ) about BMW'S
Buy
My
Worries /Wife :lol:
He doesn't see any Value in BMW'S
Yes the Gullwing should be in there to .

 

Reminds me of a joke I saw elsewhere:

What's the difference between a BMW and a porcupine?

Answer: The porcupine has pricks on the outside.

 

Lawyers drive BMW'S :lol:

OOOHH you mean the pricks on the inside of the BMW

 

It's not just cars and property; I am sure a lot of them are converting their currency into real money.
Have received many offers from Germans for the numismatic gold coins that I am selling. Largest group are Germans, followed by Americans
Also have a German customer who buys all the collectable or rare poured gold bars that I can find. He's always looking for different ones to add to his collection.