Barons auction results...market finally cooling?
Discussion
Lots of unsold entries at the auction this week unless Barons are being particularly slack updating the results...
http://www.barons-auctions.com/auction_details.php...
Anyone there that can verify?
http://www.barons-auctions.com/auction_details.php...
Anyone there that can verify?
I thought this with the RM auction at sothebys the other week, Lot of unsold lots and lots that failed to meet estimates... Testarossa's seemed to be going for less than usual to boot..
Must admit those barons prices dont look like ''classic car bubble'' material, £1800 rolls silver shadow looked lovely though what a smoker!
Not trying to doom monger here but i also think the less than rosy outlook on china and the wider global economy doesn't seem to be helping either.
Regards.
Must admit those barons prices dont look like ''classic car bubble'' material, £1800 rolls silver shadow looked lovely though what a smoker!
Not trying to doom monger here but i also think the less than rosy outlook on china and the wider global economy doesn't seem to be helping either.
Regards.
Lots of cars at dealers have sat all summer unsold and prices of various things have softened a little.
I think that while the financial markets are still trying to quantify the rate of the slowing Chinese economy, oil is waiting to bottom or confirm bottoming, commodities continue their 3 year decline and the FED declined to raise rates this week as they had previously pretty much agreed they would then an awful lot of surplus investment capital has suddenly become cautious.
Classic cars have been the single best performing asset class since the credit crunch.
The fact that everyone is referring to classic cars as an 'asset class' now tells you everything you need to know. This asset class is taking a breather while several others over the last investment quarter have been crapping out such as equities.
I think that while the financial markets are still trying to quantify the rate of the slowing Chinese economy, oil is waiting to bottom or confirm bottoming, commodities continue their 3 year decline and the FED declined to raise rates this week as they had previously pretty much agreed they would then an awful lot of surplus investment capital has suddenly become cautious.
Classic cars have been the single best performing asset class since the credit crunch.
The fact that everyone is referring to classic cars as an 'asset class' now tells you everything you need to know. This asset class is taking a breather while several others over the last investment quarter have been crapping out such as equities.
Too early to say. The market has 'cooled' a couple of times in the last 7 years.
It takes an 'event' to usually trigger a big sell off. The key really lies in what happens to the halo cars over the next 6-12 months. A few of those failing to sell or being forced sellers and it might trigger a proper sell off but there is still massive cash supply out there but it is just opting to be in the sidelines at present due to the recent economic turmoil and uncertainty over when Western rates are going up and how far China is going to slow or even fall.
It takes an 'event' to usually trigger a big sell off. The key really lies in what happens to the halo cars over the next 6-12 months. A few of those failing to sell or being forced sellers and it might trigger a proper sell off but there is still massive cash supply out there but it is just opting to be in the sidelines at present due to the recent economic turmoil and uncertainty over when Western rates are going up and how far China is going to slow or even fall.
Over 7 grand for a Mk3 Cortina!!
When there wasn't many Pagoda SL Mercs for sale a few years ago they were going up like crazy and then loads seem to have come on the market hence the cooling off of prices. Alfa's from the 90s have been cheap for quite a while.
I think you will find ACA in Kings Lynn offer the best deal for selling your car so attracts more entries, attracts more potential buyers, is held on a Saturday, so I would use the results there as more of a guide.
When there wasn't many Pagoda SL Mercs for sale a few years ago they were going up like crazy and then loads seem to have come on the market hence the cooling off of prices. Alfa's from the 90s have been cheap for quite a while.
I think you will find ACA in Kings Lynn offer the best deal for selling your car so attracts more entries, attracts more potential buyers, is held on a Saturday, so I would use the results there as more of a guide.
DonkeyApple said:
Lots of cars at dealers have sat all summer unsold and prices of various things have softened a little.
I think that while the financial markets are still trying to quantify the rate of the slowing Chinese economy, oil is waiting to bottom or confirm bottoming, commodities continue their 3 year decline and the FED declined to raise rates this week as they had previously pretty much agreed they would then an awful lot of surplus investment capital has suddenly become cautious.
Classic cars have been the single best performing asset class since the credit crunch.
The fact that everyone is referring to classic cars as an 'asset class' now tells you everything you need to know. This asset class is taking a breather while several others over the last investment quarter have been crapping out such as equities.
Interesting and given the views expressed by Andy Haldane this week plus the FED decision it seems like the death of cheap money has been exaggerated - so you may be right and it may simply be taking a breather. Which is quite worrying for not just the classic car market....I think that while the financial markets are still trying to quantify the rate of the slowing Chinese economy, oil is waiting to bottom or confirm bottoming, commodities continue their 3 year decline and the FED declined to raise rates this week as they had previously pretty much agreed they would then an awful lot of surplus investment capital has suddenly become cautious.
Classic cars have been the single best performing asset class since the credit crunch.
The fact that everyone is referring to classic cars as an 'asset class' now tells you everything you need to know. This asset class is taking a breather while several others over the last investment quarter have been crapping out such as equities.
js68 said:
Interesting and given the views expressed by Andy Haldane this week plus the FED decision it seems like the death of cheap money has been exaggerated - so you may be right and it may simply be taking a breather. Which is quite worrying for not just the classic car market....
Yeah there is some talk of cutting rates here in the UK or even negative interest rates.alolympic said:
I think the whole global economic market is due for a storm,classic cars included. Why? butterfly effect, something like Bill Cosby being discovered as a wrong un' what a shocker!
As DonkeyApple above notes equities are taking bath as the global economy tanks but cheap money is propping up an asset bubble - for now. Expect tears. Edited by alolympic on Saturday 19th September 20:44
corporalsparrow said:
I'm happy for values to fall back a bit…as long it's not for anything I own.
as the owner of a 1969 XJ6 which is pretty much the same value now as it was when I bought it 17 years ago (I rejected a mint '73 BMW CSA in it's favour) I'm still holding out for trickle down...I think unique cars (as opposed to mass produced) will continue to command good money and I also suspect that as opposed to a declining market what's happened with recent auctions like Barons is that sellers have put over ambitious reserves on based upon the market increases over the last couple of years, ie I see a levelling out more than any kind of decline.
Property shortage in the UK is certainly something that might tempt investors back to bricks and mortar instead of cars. I remember such scare stories though when Japan's economy went tits up a few years ago but the price of 60's machines that they're so fond of wasn't affected in any negative way.
Project cars also offer good ivestment to a generation of retirees who restore them and sell for a pension.
Property shortage in the UK is certainly something that might tempt investors back to bricks and mortar instead of cars. I remember such scare stories though when Japan's economy went tits up a few years ago but the price of 60's machines that they're so fond of wasn't affected in any negative way.
Project cars also offer good ivestment to a generation of retirees who restore them and sell for a pension.
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