"Modern Classics" and Sky High Asking Prices
Discussion
Grey Ghost said:
Porsche 911's are currently going mad price wise due to the new ones being turbo powered and having flappy paddle gearboxes only. If you have a look on sites such as RPM Technik you'll see just how mental the prices have gone already 
Porsche has a bigger proportion of manual gearbox availability in its range than almost any other manufacturer....Aside from that, there's always a "generational" thing with classic cars. Wealthy middle-aged blokes like to buy the car which they dreamed of as a teenager. Eventually that generation loses interest/dies off and normality is resumed. E-type and Aston prices have been insane for a long time and the air-cooled 911s have simply come into their time for the people who wanted a Yuppie car but couldn't afford it.
It helps enormously if the manufacturer's reputation is still strong for its current production cars.
Grey Ghost said:
Porsche 911's are currently going mad price wise due to the new ones being turbo powered and having flappy paddle gearboxes only. If you have a look on sites such as RPM Technik you'll see just how mental the prices have gone already
Now if only the same would happen to TVR when Mr Edgar gets it off the ground
But this is the thing. If 911's are going up so massively, surely the knock on effect will be people looking at similar packages from other marques, e.g. TVR rather than a 911 if you want fast RWD manual etc.Now if only the same would happen to TVR when Mr Edgar gets it off the ground
Couple of thoughts
1) Sellers who tout the 'Modern Classic' tend to be overselling the bigger picture to stop you looking at another part of it. Generally it'll need 'a bit of work' and I try and avoid getting involved with these because they end up as overpriced restos
2) There are some decent straight cars owned by enthusiasts who know it's value is lower to someone else than what it is to them, and price it accordingly. There are also many many 'whats it worth' threads on forums and Facebook pages of a marque specific, where other owners dont want the value of their cars to go down, so tell prospective sellers a daft price that they then stick on eBay ads with 'Modern/Future/Appreciating/amazing classic'
1) Sellers who tout the 'Modern Classic' tend to be overselling the bigger picture to stop you looking at another part of it. Generally it'll need 'a bit of work' and I try and avoid getting involved with these because they end up as overpriced restos
2) There are some decent straight cars owned by enthusiasts who know it's value is lower to someone else than what it is to them, and price it accordingly. There are also many many 'whats it worth' threads on forums and Facebook pages of a marque specific, where other owners dont want the value of their cars to go down, so tell prospective sellers a daft price that they then stick on eBay ads with 'Modern/Future/Appreciating/amazing classic'
Ozzie Osmond said:
Aside from that, there's always a "generational" thing with classic cars. Wealthy middle-aged blokes like to buy the car which they dreamed of as a teenager. Eventually that generation loses interest/dies off and normality is resumed. E-type and Aston prices have been insane for a long time and the air-cooled 911s have simply come into their time for the people who wanted a Yuppie car but couldn't afford it.
Not sure I buy the generational thing. If it were true we should see a drop in interest of pre-war cars as the people who grew up around them are now largely popping their clogs. I don't see in drop in prices of old Bentleys, Bugattis and the like.AndySpecD said:
If 911's are going up so massively, surely the knock on effect will be people looking at similar packages from other marques,
Check out what goes on at Ferrari where some cars are "sought after" and others aren't. It's usually far more about "fashion" than "quality". Eventually buyers realise they can get a 355 for a fraction the price of a 348, or whatever.Cars don't hold their value for the long term unless they are both desirable AND rare. Air-cooled 911s will never be rare.
andy-xr said:
Couple of thoughts
1) Sellers who tout the 'Modern Classic' tend to be overselling the bigger picture to stop you looking at another part of it. Generally it'll need 'a bit of work' and I try and avoid getting involved with these because they end up as overpriced restos
2) There are some decent straight cars owned by enthusiasts who know it's value is lower to someone else than what it is to them, and price it accordingly. There are also many many 'whats it worth' threads on forums and Facebook pages of a marque specific, where other owners dont want the value of their cars to go down, so tell prospective sellers a daft price that they then stick on eBay ads with 'Modern/Future/Appreciating/amazing classic'
They will need more attention and a good amount of money set aside for maintenance every year. Plus there will be the eventual let down when it breaks down. I would hope no one overlooks this when considering a modern classic. I would hate to see them deteriorate through lack of care. They will deteriorate quickly.1) Sellers who tout the 'Modern Classic' tend to be overselling the bigger picture to stop you looking at another part of it. Generally it'll need 'a bit of work' and I try and avoid getting involved with these because they end up as overpriced restos
2) There are some decent straight cars owned by enthusiasts who know it's value is lower to someone else than what it is to them, and price it accordingly. There are also many many 'whats it worth' threads on forums and Facebook pages of a marque specific, where other owners dont want the value of their cars to go down, so tell prospective sellers a daft price that they then stick on eBay ads with 'Modern/Future/Appreciating/amazing classic'
In my late teens to early 20s I was a ford mad nut and wrecked a fair amount of mk1 and mk2 escorts half arsed rallying them,a nice mk1 mexico,a black mk2 RS2000 and a goodly number of original mk1 1600 and 1300 with engine swaps and twin Webbers and such things.
Wish I still had that little lot..
Wish I still had that little lot..
davyvee said:
ikarl said:
Should the Clio V6 be in this thread? is it an actual example of a modern classic, and therefore command the price(s) it does?
Yes. It's a clio with a 3 litre engine on the back seat. Possibly the last 'mad car' to be ever made, the closest being an R26R which was not quite as mad with its placcy windows.Totally nuts car.
Like a metro 6R4 for the road.
I would have bought one but decided on a Merc SLK 55 AMG as the roof comes off and the misses drives it too (just sometimes).
I think its people are looking for fun cars. I know most of my mates drive older cars now. Got a 80s car myself, best friend has a hill climb prepped 1275 mini and a r5 turbo.
The insurance is affordable for performance while being young. I was in my cherry turbo for less than a 1.8 diesel focus while being as fast as a astra vxr.
The insurance is affordable for performance while being young. I was in my cherry turbo for less than a 1.8 diesel focus while being as fast as a astra vxr.
andy-xr said:
Couple of thoughts
1) Sellers who tout the 'Modern Classic' tend to be overselling the bigger picture to stop you looking at another part of it. Generally it'll need 'a bit of work' and I try and avoid getting involved with these because they end up as overpriced restos
2) There are some decent straight cars owned by enthusiasts who know it's value is lower to someone else than what it is to them, and price it accordingly. There are also many many 'whats it worth' threads on forums and Facebook pages of a marque specific, where other owners dont want the value of their cars to go down, so tell prospective sellers a daft price that they then stick on eBay ads with 'Modern/Future/Appreciating/amazing classic'
This.1) Sellers who tout the 'Modern Classic' tend to be overselling the bigger picture to stop you looking at another part of it. Generally it'll need 'a bit of work' and I try and avoid getting involved with these because they end up as overpriced restos
2) There are some decent straight cars owned by enthusiasts who know it's value is lower to someone else than what it is to them, and price it accordingly. There are also many many 'whats it worth' threads on forums and Facebook pages of a marque specific, where other owners dont want the value of their cars to go down, so tell prospective sellers a daft price that they then stick on eBay ads with 'Modern/Future/Appreciating/amazing classic'
Thing is I can can almost forgive the hilariously rocketing premiums on Classic Porsches, Ferraris, E Type Jags etc. because they are what they are. It's more people selling dull stuff with a massive premium because its a "Modern Classic" or a "Future Classic".Okay, an old person has owned it and done low miles and you've paid for it to be detailed. Doesn't mean you can ask big figure sums for it.
LankyLegoHead said:
Take the MK2 Golf GTI's, I can totally get that they are desirable and even I would call them a "Modern Classic". I just find it hard to think "Yep, I'll spend upwards of £8000 on an 80s VW that's probably been thrashed most of its life". Because that's what I saw as an asking price for one recently. Not a rare model or anything.
I've been half looking for a mk2 Golf GTI and found a nice low mileage one for sale but the ad didn't have a price. I rang the dealer up and it was for sale for £8k, I thought it was too much money and wouldn't sell. It was gone within 2 weeks! rev-erend said:
davyvee said:
ikarl said:
Should the Clio V6 be in this thread? is it an actual example of a modern classic, and therefore command the price(s) it does?
Yes. It's a clio with a 3 litre engine on the back seat. Possibly the last 'mad car' to be ever made, the closest being an R26R which was not quite as mad with its placcy windows.Totally nuts car.
Like a metro 6R4 for the road.
I would have bought one but decided on a Merc SLK 55 AMG as the roof comes off and the misses drives it too (just sometimes).
Look ace though.
LankyLegoHead said:
RacerMDR said:
it is the same at the other end of the market too..........prices have gone nuts. Try looking for classic porsche!!
Yeah, that annoyed me as well. Remember the price of a Gseries a few years back? Now look. It's just more irritating when you see people trying to cash in on this with lesser cars, I guess!Bought for 10k but the value is climbing such that
A) almost worried to thrash it too often and reduce its value (I did say almost
B) not looking forward to insurance costs rising inline with values
Its the same with mx5 prices a few really low mileage original mk1 have popped up for 10k+ then there was the limited edition lemans edition which needed a s
t load of work came up for sale early on in the year went well north of 8k.
The limited edition mk1 specially 1.8 versions like the vr ltd/r ltd etc are going up to dragging the other with it. However mk2/2.5 prices are dropping big time so as is the mk3 mainly due to the mk4 just coming out.
Im happy with this as I have a vr ltd spec b which will be given some attention over the winter and will be kept in good condition until prices either levels out or I need to sell it.
As with the v6 clio they have gone nuts the last few years to of my mates both brother the one bought a silver phase 1 and turned it in to a sort of race replica which is valued at 17k now he paid just over 5k 7 years ago his brother bought a maron/red phase 1 a rare colour for 8k and he sold it early in the year for 15k.
t load of work came up for sale early on in the year went well north of 8k.The limited edition mk1 specially 1.8 versions like the vr ltd/r ltd etc are going up to dragging the other with it. However mk2/2.5 prices are dropping big time so as is the mk3 mainly due to the mk4 just coming out.
Im happy with this as I have a vr ltd spec b which will be given some attention over the winter and will be kept in good condition until prices either levels out or I need to sell it.
As with the v6 clio they have gone nuts the last few years to of my mates both brother the one bought a silver phase 1 and turned it in to a sort of race replica which is valued at 17k now he paid just over 5k 7 years ago his brother bought a maron/red phase 1 a rare colour for 8k and he sold it early in the year for 15k.
The whole thing is beginning to put me off cars to be honest.
I just can't justify the asking prices for many of the cars that I would have consider definite 'Must own' just 5 years ago.
The most value seems to be in cars 10-15 years old, and even then the rising prices of the older cars seems to be keeping values of 'potential' modern classics firm.
I just can't justify the asking prices for many of the cars that I would have consider definite 'Must own' just 5 years ago.
The most value seems to be in cars 10-15 years old, and even then the rising prices of the older cars seems to be keeping values of 'potential' modern classics firm.
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