£40k For a Mid 90's Escort - The World Has Gone Mad!

[iva cosworth]

The only one of your 4 points I remember is the amateur rally driver,not to say the others

aren't also true.

[Leins]

iva cosworth said:

The only one of your 4 points I remember is the amateur rally driver,not to say the others

aren't also true.

I remember being fascinated by the idea of a yellow F40 racing through the hills, so I really hope this is true

[iva cosworth]

He still competes occasionally too,most notably in the Tuthill Porsche 911 R-GT on a WRC round.

[anonymous-user]

k-ink said:

PAUL500 said:

Come the revolution comrades lol there is not going to be an bubble burst, didnt happen during the last recession so wont happen now either, levelling off maybe but people wont be buying back their old cars for half the value they recently sold them for, if you missed the boat then you missed the boat....move on

There was a massive classic car price crash in the late 1980s. It happened before, it will happen again. Much like the house price cycles of boom to bust. Or the stock market experiencing a correction. Any market which is driven by human greed and fear will follow the same path.

So what?

A market "crash" doesn't necessarily mean that the asset becomes almost worthless. What are you expecting? To be able to pick up one of the cars in the OP for £10k? Not only is that not going to happen, it never has happened, even when Escort Cosworth prices were at their lowest. They might drop a few grand and that's if they are at their peak (which they aren't by a long shot), so what?

People looking for a quick buck may get their fingers brunt in the event of a crash - Hypothetically If you were the 'poor' sod that spent $13,000,000 on a 250 GTO at its 80s peak only to have its value drop to say $4,000,000 a few years later you'd in theory still be quids in accounting for inflation if you sold it today.

I'd imagine most of the people buying iconic cars from the 80s and 90s are doing so less so for investment purposes (I don't think prices are rising anywhere near quick enough to be considered a sensible investment) and more so because they want to own one because they idolized them. Then given the fact that they'll almost certainly have a nearly new £50k+ daily driver that is shedding far more £££ in depreciation that any price crash of the 80s and 90s car market is likely to cost them, do you really think anyone cares that it might be a bubble?

Anyway. I need to find a low mileage Celica GT4... Just in the case.

[k-ink]

Not just car enthusiasts buy classic cars. Especially when you are talking about the most pristine expensive examples. And don't forget the pristine examples also drag up the ropey example prices too. Rather like how high end London houses also drag up council houses in the suburbs. I personally feel a lot of people have moved into classic cars as they just offer a place to dump some investment cash. They offer a cheaper entry than high end art. Next you'll be telling me everyone who buys art is a true art lover. As we know it will be a mix.

I also feel this classic car boom is a temporary situation, purely as the imminent future of stocks and shares, in fact the whole world economy, is looking so desperate. If you have a read of the various Money Week reports online (the analysts who predicted all the previous troubles), you may see why funds are flowing out of city investments and into other locations/objects, for now. Of course after a stock market correction all stocks will be looking much more attractive again, as people will want to capture their inevitable upward gains. So money sitting in classic cars will start to flow out again, from the investors. Of course the die hard fans won't care either way. But they will not be 100% of the buyers.

[s m]

Leins said:

iva cosworth said:

Francois Delecour would have had a shot at the drivers' title but for smashing himself up in an F40

crash.

I recall from reading about it at the time that:

- the F40 was yellow
- it belonged to his mate
- the incident occurred in the hills above Monaco
- he was hit by an amateur rally driver

Very little info seems to be available anymore, so can anyone confirm?


Proper rally legend in my eyes was Delecour, even if he never was a WRC title winner

From what I've read, he went out in a friend's yellow F40 to pick up some bread - said he was doing around 70-80km/h when he encountered a local road rally. A driver taking part in a Citroen ZX ran a stop sign and hit him



Resulted in him breaking both ankles and he was reportedly quite lucky not to lose his left foot

[Leins]

Thanks s m! Didn't remember the bit about the bread, and it doesn't look too hilly about there either. However, in terms of excuses for not winning the WRC, that's about as fine as they come IMO