Petersen Museum Selling Off 1/3rd Of Collection

Starting back in March, the Petersen Museum in Los Angeles started to quietly sell off parts of its ~400 car collection. When a lot of more than 100 cars was announced to go on the block at Auctions America’s Aug. 1 sale in Burbank, California, it caught the attention of collectors and curators across the world of collector cars, and the museum made a public announcement to the Los Angeles Times this week that the sales are to raise money to renovate and reconfigure the museum. Also announced was the fact that the museum, which was originally endowed by Robert Petersen, who founded an enthusiast magazine empire including Hot Rod and Motor Trend, and Peterson’s wife Margie, would be changing its focus to include more motorcycles and prewar French cars from the Art Deco period.

The museum says that many of the cars they are selling are duplicates or not suitable for public display, critics, though, aren’t happy with the changes and say that the changes reflect the personal tastes of Executive Director Terry Karges, who owns Champions Moto, a motorcycle company, and new museum board Chairman Peter Mullin, whose own museum in Oxnard, CA is one of the world’s finest collections of Bugattis and other French classics.

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  • EBFlex "I'd add to that right now, demand is higher than supply, so basic business rules say to raise the price."Demand is very low. Supply is even lower. Saying that demand is outstripping supply without providing context is dishonest at best.
  • IBx1 Took them long enough to make the dashboard look halfway decent in one of their small trucks.
  • Mcs You're right. I'd add to that right now, demand is higher than supply, so basic business rules say to raise the price. The battery tech is rapidly changing too. A battery tech in production today probably won't be what you're using in 2 years. In 4 years, something different. Lithium, cobalt, and nickel. Now cobalt and in some cases nickel isn't needed. New materials like prussian blue might need to be sourced. New sources might mean investing in mines. LMFP batteries from CATL are entering production this year and are a 15% to 20% improvement in density over current LFP closing the density gap with NCA and NCM batteries. So, more cars should be able to use LMFP than were able to use LFP. That will lower costs to automakers, but I doubt they'll pass it on. I think when the order backlogs are gone we'll stop seeing the increases. Especially once Tesla's backlog goes away. They have room to cut prices on the Model Y and once they start accumulating unsold vehicles at the factory lot, that price will come tumbling down.
  • Acd Fifteen hundred bucks for OnStar makes some of the crap Southeast Toyota Distributors and Gulf States Toyota forces their customers to buy seem like a deal.
  • EBFlex Remember when Ford was all self pleasuring about the fake lightning starting under $40k? We all knew it was BS then and that Ford was taking a massive loss just to make that happen. This solidifies that.