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Rick Schmidt – Ask Rick:

It is AUGUST and time for another riveting Ask Rick segment where I ask him the tough questions! The end of summer is rapidly approaching and kids are preparing to go back to school while classic car lovers are trying to attend the big shows of the year. Rick is traveling to Norway on a business/pleasure trip and revealed some of his plans to visit customers and see how people in other countries celebrate vintage muscle cars.`

Rick’s Take On Customer Questions – Hard Hitting Questions People Want To Know :

I Asked Rick five hard hitting questions that have been submitted from listeners just like you.

Question #1: When would you use a Patent in the automotive world?

Rick said that NPD does not hold a single patent because they are in the business of vehicle restoration and build replicas of things other people already invented. A business would require a patent when they develop a new idea that no one has ever thought of and patented before. The example that came to mind was the mud flaps that hold on to the pinch weld of a fender so that holes are not required to install them. This idea had not existed prior to this and required a patent to protect the idea.

Question #2: What is the best place to advertise your business in print?

NPD advertises in a lot of places and Rick feels that from a restoration business standpoint, the old classic swap and sale magazines similar to Hemmings would be the best kind of publication to utilize. He said there are huge benefits to joining or supporting clubs and their product specific publications. You can target your market to the specific vehicle and you are donating to the continuation of people restoring those vehicles.

Question #3: Does Race on “Sunday, Buy on Monday” still work?

Rick said to a very small degree this still works but seeing a Mustang/Camaro/Charger race car nowadays is not representative of what is in the showroom and people know this. What it does do is generate brand loyalty and will influence to a small part, a decision to buy a particular brand when the time comes to make that huge purchase. He does love it when the manufacturers build halo vehicles such as the Ford Mustang GTD which captures the attention of people, even when not on a racetrack, and influences people’s vehicle decisions even if they do not buy the GTD specifically.

Question #4:Does buying a collector car at an auction add to its pedigree?

NO! An auction is not a car show. An auction is simply a sales tool and does not state how well the car is built and the quality of the restoration. Rick said that winning awards at car shows such as The Muscle Car and Corvette Nationals or at Amelia Island adds to the pedigree of a vehicle as it means it has been thoroughly vetted by judging professionals to be what it says to be. An auction only means what a vehicle sold for and not its quality. A car at auction can hide many many sins when selling to an audience that has very little time to review a vehicle.

Question #5: Is now a time to invest in Rivian?

Recently in the news it was stated that VW was investing a huge amount of money into Rivian the electric car company. Rick said that VW has a lot of money right now from some very savvy business moves and is in a great position to make investments like this. Previously Ford pulled money out of Rivian so it is hard to use these kinds of transactions to gauge the state of the industry or of Rivian in particular. It is very hard to know the true intentions of businesses and why they are doing things at face value no matter what a newspaper article states. As in any investment you need to do research and determine from data what you need to choose instead of depending on potentially biased media outlets.

Ricks Take On Two Year Investment Vehicles:

 In honor of the upcoming election

Car #1:

1978 Mercury Grand Marquis: This car is cartoonishly massive and in amazing condition. This was the last year for the big body and will turn heads for many years to come if kept up with even rudimentary care. Rick suggested driving it a few times a year, even if it adds miles as this helps exercise the vehicle and helps keep it nice.

Car #2:

1988 Thunderbird Turbo Coupe Mach I. Rick has never heard of this car but thinks it is a nice looking car. It should still go up in value.

Car #3:

1970 Camaro Z-28 built by racing legend Grumpy Jenkins. Rick thinks you would do a lot of maintenance and upkeep on this car and at its high dollar price tag it will be hard to see any return on investment after two years.

Car #BONUS:

1984 Cadillac Eldorado: Rick loves the looks of this car and believes this will continue to gain value over time. The main drawback to this era of GM vehicle is the bumper close outs that were made of a rubber that will degrade and always need replacement. He said there are fiberglass replacements available but that is something that will have to be done to keep these at premium value.