Classic car prices
Discussion
Pre 1940's RR prices seem to have risen over the last few years and seem to be continuing to do so. Vintage cars in general are not selling so easily as once were, although I noticed that one dealer seems to have little difficulty in selling his cars. An Swift was purchased from them recently.
Looking at the recent classic car auctions may give some kind of clue.
There are now a much higher proportion of cars that don't sell and are 'bought in';
look at the recent H & H sale - IIRC only 29 of the 72 cars entered actually sold.
Having said that, I think that the top cars are continuing to hold their value or appreciate.
There are now a much higher proportion of cars that don't sell and are 'bought in';
look at the recent H & H sale - IIRC only 29 of the 72 cars entered actually sold.
Having said that, I think that the top cars are continuing to hold their value or appreciate.
I agree with the above. The top end seems to holding up extremely well. My motor went back to Germany (lhd) and made a good profit because of the euro. Very rare for me to make a profit. A close mate has had three Porsche 356's for sale for some six months. All went within a week recently, £200K worth of cars, go figure, there is no rhyme or reason to it.
Elderly said:
Looking at the recent classic car auctions may give some kind of clue.
There are now a much higher proportion of cars that don't sell and are 'bought in';
look at the recent H & H sale - IIRC only 29 of the 72 cars entered actually sold.
Having said that, I think that the top cars are continuing to hold their value or appreciate.
Just after H&H the Brightwells auction sold 69% so I don't think there is anything conclusive.There are now a much higher proportion of cars that don't sell and are 'bought in';
look at the recent H & H sale - IIRC only 29 of the 72 cars entered actually sold.
Having said that, I think that the top cars are continuing to hold their value or appreciate.
The high end cars (and motorcycles) are holding up well. I don't see any sign of the middle of the road stuff actually dropping in price as long as they are in top condition.
I think buyers are much more discerning and cars in "average" condition are struggling.
I thought the perceived logic to all this was that the high end cars were staying static as people with that much money are pretty much unaffected.
The bottom end of the market it still holding up too, stuff like MGB's seem to be rising, certainly Alfa GTV's still seem to be. People are taking money out of the bank thinking it's not worth keeping it in with all the uncertainty over them, they might as well buy what they always promised themselves.
What seems to be suffering is the mid range stuff, price from say 20K up to 100K. This is where you need some serious money to spend and that's in short supply.
The bottom end of the market it still holding up too, stuff like MGB's seem to be rising, certainly Alfa GTV's still seem to be. People are taking money out of the bank thinking it's not worth keeping it in with all the uncertainty over them, they might as well buy what they always promised themselves.
What seems to be suffering is the mid range stuff, price from say 20K up to 100K. This is where you need some serious money to spend and that's in short supply.
velocemitch said:
The bottom end of the market it still holding up too, stuff like MGB's seem to be rising, certainly Alfa GTV's still seem to be. People are taking money out of the bank thinking it's not worth keeping it in with all the uncertainty over them, they might as well buy what they always promised themselves.
What seems to be suffering is the mid range stuff, price from say 20K up to 100K. This is where you need some serious money to spend and that's in short supply.
The FT yesterday said that despite low interest rates, data shows that household savings have jumped and spending fell sharply.What seems to be suffering is the mid range stuff, price from say 20K up to 100K. This is where you need some serious money to spend and that's in short supply.
The 1750 GTV at Coys a couple of weeks ago failed to sell despite a 5K lower estimate (and a lower reserve??) but I don't know what the car was like.
I agree with you about the mid-range stuff; the sort of car that is not too rare yet expensive to maintain.
velocemitch said:
What seems to be suffering is the mid range stuff, price from say 20K up to 100K. This is where you need some serious money to spend and that's in short supply.
I think even here there are parts of the market that seem health, even if the dealers are nervous about how things will pan out longer term.Certainly from what I'm looking at they seem to be holding up remarkably well at present, obviously you're finding pressured sellers at present which is having an effect but many owners haven't been heavily effected and classics are the owners passions - they'll be one of the last things to go! So on the whole I think they is still reasonable levels of demand and for an unusual car in good condition with history they are still selling well.
Obiwonkeyblokey said:
I also wasnt aware they were dropping. I got a very healthy cash price for my 1970 TVR Tuscan a couple of weeks ago when approached by a french purchaser. ( the car hadnt even been advertised)
Well don't forget for him your price has just dropped dramaticaly as his Euro is worth much more than it was a few months back.Edited by Obiwonkeyblokey on Tuesday 31st March 12:39
I've heard it said that the value of LH drive cars in the UK has suddenly jumped because they are being snapped up by US and continental buyers looking for a bargain.
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