It is September and football is back!!! It is also time for another riveting Ask Rick segment were I ask him the tough questions that not everyone wants to hear. As always Rick delivers sage advice and wisdom founded in years of buying and selling classic vehicles. When it comes to cars as investment, possibly a with a great ROI, Rick has strong opinions and advice here. Can it be done? Short answer; yes! Should it be done? Long answer......maybe.

As with all things, it depends what you understand and where you can make your gain on the purchase of the car initially. For Rick and his dad, their collection has immense value today of course, but every car in inventory was chosen for it's specialness to the Schmidt's not as a hedge on a great investment. They chose high quality low mile original cars and didn't just stick to muscle cars. Their collection has many examples of unique rare American cars that have less than 1000 miles (think Rivieras, Eldorado's, and Lincoln's).. Some have interiors with the delivery plastic still in place! Others are beautifully restored treasures. Today, it's paid off. Technically, it could payoff if they ever chose to sell....which they almost never do!

TMCP #552: Ask Rick – Is it Wise (or Possible) to Have Collector Cars as Your Retirement Investment?

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This week we have a special interview that was recorded LIVE from the auction floor interview at MECUM in Houston Texas. Our intrepid producer Bernie McPartland caught up with TV personality and voice of MECUM Auctions on The MotorTrend Network, John Kraman. To say John has been in the car business a long time does little to explain just how long. This was an insight into what has become the biggest collector car auction company in the world, all told from the catbird seat!

TMCP #575: Life on the Auction Block with John Kraman – LIVE INTERVIEW From The MECUM Auction Sales Floor!

FEATURE INTERVIEW
Mike Spagnola - SEMA:
Mike Spagnola

This week I spoke to Mike Spagnola, President and CEO of SEMA (Specialty Equipment Market Association). It is always fun to meet for the first time, especially people who are helming something important to you. This was my first interaction of any kind with Mike, and my immediate takeaway from the discussion was that SEMA is in good hands (and a bright future) with his leadership!

Mike has been involved with automotive his whole life and at all ends of the spectrum. From racing off road trucks, to owning an automotive specialty parts business, and even working a wall street type job buying and selling car related businesses, Mike has done it all. He told me it started at a very young age when he knew he wanted to be involved with cars. He played with all the car and tool toys, and watched the racing and stunt type TV shows as a kid and just knew that is what he wanted to do. In high school he excelled in auto shop and a famous visitor showed up one day offering a scholarship to the person that did the best in class. Mike worked hard and won that money for college but when it came time to accept his prize he was tongue tied and could not speak. Later on he became friends with this person and had even talked to him often, that person was legendary racer and businessman, Mickey Thompson.



With Mike's vast and diverse background he is a natural at running the biggest protection and advocation agency in the automotive aftermarket world. It is a given that the job is very hard though and takes dedication and perseverance. He said that the organization finds out about new threats to our hobby every single week and many are never heard of by the general public and would go undetected and undisputed without SEMA around to do the hard work. He also knows the struggles of running an automotive business, especially one that is fighting to survive amidst numerous attacks from the government so he helped set up and run the first SEMA Garage in Diamond Bar and the new SEMA Garage in Detroit.

Mike was key in building the SEMA emissions lab and emissions program in partnership with Cal Air Resources Board (CARB), which helps companies make emissions compliant parts and accessories. The SEMA Garages, located in Southern California and Detroit, are the only known facilities of their kind in the United States, offering services like 3D scanning, 3D printing, ADAS testing, vehicle measuring sessions, fully equipped work bays, emissions testing and certification. SEMA Garage Detroit recently received confirmation from the California Air Resources Board (CARB) that the new location is properly equipped for automotive exhaust emissions testing.

Chassis Dyno at SEMA Garage Detroit

 

There are only fourteen Independent Vehicle Emissions Testing Labs in the United States, who are recognized by CARB to perform light-duty tailpipe emissions testing including the two SEMA Garages. SEMA works closely with automakers to offer measuring sessions on new vehicles so members can bring new products to market.
How does SEMA helps car people do what they love? SEMA has a history of working with lawmakers to create and push through legislation that supports consumer and industry choice. SEMA also pushes back against over reach by the government when it tries to dictate extreme mandates such as the EPA’s proposed emissions rules and California’s efforts to mandate all new vehicles must be ZEV by 2035. These proposals force EVs to become the only option for automakers to produce and consumers to purchase. SEMA believes the government should not pick winners and losers regarding automotive technologies and that the market should drive technology solutions.

SEMA and SEMA members recently testified in opposition to California’s waiver request for ACCII–this is t...

TMCP #574: SEMA President and CEO, Mike Spagnola – State of the Industry

Rick Schmidt - Ask Rick:
It is April and time for another riveting Ask Rick segment where I ask him the tough questions! This is the month of change where we transition from winter to spring. Out with the old and in with the new! It is time for the winter states to start getting out your projects and making them ready for car shows and tours. I look forward to seeing you at some of these events.
Rick's Take on the California Emissions Mandate:
Back in 2022, California released a mandate to require all new cars to meets zero emissions standards by 2035. This  would make all new cars some sort of electric or hydrogen electric  hybrid vehicle across the board. In the history of our nation, wherever California goes, the rest of the country goes eventually so this means that the new mandate would also apply to everyone soon after. This would also impact the classic car market through fuel availability, discontinuation of the infrastructure, and further mandate to eliminate older vehicles that do not meet these standards.
Rick said a major part of the problem is that legislators do not understand that the classic car hobby is a "clean" endeavor in that we are saving the environment by not throwing away the old and contaminating the environment with the trash while protecting the world from the garbage that manufacturing another new car produces. As far as fuel emissions is concerned, Rick says that compared to daily commuter vehicles, classic car do not emit enough pollutants because they are not driven enough to be a factor (i.e all of the classics combined are a tiny percentage of the total).

Rick's Take on SEMA Brings to the Table:
With all of the changes coming in the new car market regarding emissions I know that they will most definitely affect our classic car hobby. I had the opportunity to interview Mike Spagnola, President of SEMA in an upcoming interview and I wanted to know what the venerable organization does for Rick and NPD. Rick said he tries to stay away from the snake pits that SEMA boldly goes after and keeps things simple in his product selection. He does know that they do a lot of great work that will trickle down and does affect his business. It is SEMA's job to defend and educate us  about upcoming legislation and call us to action when something is drastically wrong in a pending law. They used to perform other functions that would gather hobbyists together to meet each other but now the main focus is on protection of the hobby and the aftermarket businesses.

Rick's Take on Listener Questions:
Hi, Robert. had a question for your Ask Rick segment. I would  eventually  like to own an 03-04 terminator cobra mustang. What would you recommend buying, as I'd like it to be a weekend cruiser. Wouldn't mind a modified one, given the price and mileage was right. Love the show, maybe I'll run into ya at Good Guys.  - Paul Grey

Rick was adamant on the strategy of buying a car that has been babied and taken care of properly. He said it is worth the extra expense to get an unmolested example and love it rather than buy one that needs work and live with headaches the rest of it's life. You should enjoy a car, not sacrifice for it constantly!
Ricks Take On Cool Summer Cars:
Which if these cars trips your trigger with the “eyeball cool” test?  Goal is to buy a car - hold it until you’re ready to let it go - KNOWING that it will find a new owner easily.
Car #1:
https://www.hemmings.com/listing/1972-pontiac-gto-872525


Pontiac GTO 1972
Car #2:
https://bringatrailer.com/listing/1967-ford-fairlane-33/


Ford Fairlane 500 1967
Car #3:
https://www.hemmings.com/auction/1970-ford-torino-cobra-lockport-ny-687867


Ford Torino Super Cobra Jet 1970
Car #4:
https://www.hemmings.

TMCP #573: ASK RICK: Its The End Of The World As We Know It, Or Is It – California Emissions Mandate, Zero Emissions by 2035

This week I spoke to Tom Scarpello, President and founder of Revology in his facility in Orlando Florida! Revology is seemingly doing the impossible; creating a profitable company that survives (and thrives) by bringing a single classic Mustang platform into a 21st Century as a capable daily-driver by modern standards. There are a few other companies doing things like Revology, but to my knowledge this is the only company striving to be good at the "boring" stuff like reducing wind noise, squeaks, rattles, and creating high end comfortable interiors from OEM stock materials. Their door gaps are specifically set for long term use - not just awesome looking floor appeal. They're building the quality of cars far closer to a new Porsche than a Pro-Touring old Mustang. For all of this, I had to see it in person!

TMCP #572: Tom Scarpello of Revology Cars – Bringing New “OEM” Quality ’65-’68 Mustangs into the 21st Century

This week I spoke to Jono Shaw, President of Hemmings Motor News, to find out more about the new buying service called the "Frictionless Marketplace." For anyone who has bought a car online sight unseen it can be a little unnerving when you "win" the auction and are then left to figure out how to get the car legally, safely, and paid for without the fear of getting completely ripped off. To put it bluntly, this service is meant to put some teeth to the "wild-west" that has become common in buying a car line and put Hemmings into the mix to prevent the possibility of fraud.

TMCP #552: Ask Rick – Is it Wise (or Possible) to Have Collector Cars as Your Retirement Investment?

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