End of the road for the classic car boom?
Discussion
Lowtimer said:
A lot of it is a matter of timing and playing a long game. In 1990 I would have loved to have a new Porsche 944 Turbo or R129 500SL, but to buy the pair together would have cost me £120K, which was quite literally four times the market value of the four bedroom house in the Midlands I was paying for.
So instead I played with old Mark II Escorts and a Manta GT/E - at one point I was paying about £700-£800 quid for a Mark II. Did them up, had loads of fun in those. Had a mate with a 3.0S Capri that cost him about a grand, and so on. Others had old Mark I Golfs that were similarly dirt cheap.
Scroll forward to the modern day. I don't have the spare cash today to buy the Mark II Escorts or a minty fresh 3.0S Capri, but I was easily able to afford the 944T and the 500SL over the last few years, because at the time they were being practically given away.
So, in terms of cars enjoyed and ticked off the list I've been able to have ones I wanted by picking the moments. The swings and roundabouts of fashion and market values mean there's a chance to have just about anything over the course of a lifetime if you keep your eye open for the right moment. What you can't do, unelss you're loaded, is have it at the same time everyone else wants it.
This post is very trueSo instead I played with old Mark II Escorts and a Manta GT/E - at one point I was paying about £700-£800 quid for a Mark II. Did them up, had loads of fun in those. Had a mate with a 3.0S Capri that cost him about a grand, and so on. Others had old Mark I Golfs that were similarly dirt cheap.
Scroll forward to the modern day. I don't have the spare cash today to buy the Mark II Escorts or a minty fresh 3.0S Capri, but I was easily able to afford the 944T and the 500SL over the last few years, because at the time they were being practically given away.
So, in terms of cars enjoyed and ticked off the list I've been able to have ones I wanted by picking the moments. The swings and roundabouts of fashion and market values mean there's a chance to have just about anything over the course of a lifetime if you keep your eye open for the right moment. What you can't do, unelss you're loaded, is have it at the same time everyone else wants it.
Sounds like you're a similar age to me - I did the Escorts when I was younger, Mk1, Mk2, RS2000s, friend had an RS1800 ( twice the price of my RS2000s but not twice the fun ) , enjoyed Mantas for a few years, the old hot hatches, Capris etc. They were all very cheap and almost disposable, no-one really wanted them
Then moved onto the next lot of cheap things, E21, E30s, 944s
I'm not sure I'd pay the prices some of them fetch right now but people do seem to get terribly upset at the price of things they themselves regard as too expensive and awful to drive
Just move onto the cheaper stuff you regard as 10x better like old AMG Mercs etc etc
As Lowtimer says, if you play the long game you'll get to drive some great cars or just buy the unloved stuff like Mantas, Dolly Sprints etc if you think the Escorts, Capris are too much
I recently noticed the asking price at a dealer for a sharply appreciating classic drop 50K from one month to another. The car has now sold, but that's a big drop. Don't forget though that the owner would still have made a tidy profit over what he originally paid, so may have cashed-out at exactly the right moment, if the trajectory is now downwards.
What's often forgotten is there can be a huge gap between advertised "asking price" and actual "selling price".
You only have to glance at PH classifieds to see the daft asking prices across a broad spectrum of very ordinary cars which some hopeful owner thinks their vehicle might be worth.
You only have to glance at PH classifieds to see the daft asking prices across a broad spectrum of very ordinary cars which some hopeful owner thinks their vehicle might be worth.
I have noticed this too. I've been expecting it for a while. I keep an on some limited run Ferrari's and the asking price of one in particular has dropped by 11% this month, and I see the same cars advertised for weeks at a time.
On the whole the market is still relatively buoyant at this point and 'right' priced cars are still selling.
On the whole the market is still relatively buoyant at this point and 'right' priced cars are still selling.
swisstoni said:
jonah35 said:
The car itself looks good in a garage etc but seeing a middle aged man in an old ferrari just looked a bit daft even i have to admit and i love cars
What people are ok to drive classic Ferraris would you say?Reality was a balding middle aged bloke with man boobs in a northern town did look a little daft even i have to admit and dont get me wrong, i was the one standing up for him as i like classic cars but it did look a little silly.
SEE YA said:
ChilliWhizz said:
jonah35 said:
The car itself looks good in a garage etc but seeing a middle aged man in an old ferrari just looked a bit daft even i have to admit and i love cars
Just as well us old folk who love our cars don't give a toss about what others think of us then... Personally id feel a bit daft sat at traffic lights having spent £150k on a car to have people giggling at me and secretly hoping id stall or brake down.
Would be interesting to know if they will plateau or just crumble.
I cant see how they could just plateau as people would either be buying as an investment or getting rid.
Could just pause for breathe and carry on climbing after the referendum though, who knows.
It is, however, the first time i get a feeling that prices have slowed and cars are sitting unsold.
I cant see how they could just plateau as people would either be buying as an investment or getting rid.
Could just pause for breathe and carry on climbing after the referendum though, who knows.
It is, however, the first time i get a feeling that prices have slowed and cars are sitting unsold.
jonah35 said:
swisstoni said:
jonah35 said:
The car itself looks good in a garage etc but seeing a middle aged man in an old ferrari just looked a bit daft even i have to admit and i love cars
What people are ok to drive classic Ferraris would you say?Reality was a balding middle aged bloke with man boobs in a northern town did look a little daft even i have to admit and dont get me wrong, i was the one standing up for him as i like classic cars but it did look a little silly.
swisstoni said:
jonah35 said:
swisstoni said:
jonah35 said:
The car itself looks good in a garage etc but seeing a middle aged man in an old ferrari just looked a bit daft even i have to admit and i love cars
What people are ok to drive classic Ferraris would you say?Reality was a balding middle aged bloke with man boobs in a northern town did look a little daft even i have to admit and dont get me wrong, i was the one standing up for him as i like classic cars but it did look a little silly.
. No need to try to look for an argument when im not trying to start one Ozzie Osmond said:
What's often forgotten is there can be a huge gap between advertised "asking price" and actual "selling price".
You only have to glance at PH classifieds to see the daft asking prices across a broad spectrum of very ordinary cars which some hopeful owner thinks their vehicle might be worth.
That reminds me of the Australian equivalent of Autotrader which has adverts which never expire so cars will often sit there aspirational prices for years!You only have to glance at PH classifieds to see the daft asking prices across a broad spectrum of very ordinary cars which some hopeful owner thinks their vehicle might be worth.
I think many people see this and think "Wow! Amazingly cool and probably very expensive"
And many people probably see one of these and think "Cheap old Ferrari"
I don't know Ferraris at all, I like the FF, so don't know if the above is a cheap car or not, but I am sure many just see it as a £10k old Ferrari.
And many people probably see one of these and think "Cheap old Ferrari"
I don't know Ferraris at all, I like the FF, so don't know if the above is a cheap car or not, but I am sure many just see it as a £10k old Ferrari.
gizlaroc said:
I think many people see this and think "Wow! Amazingly cool and probably very expensive"
And many people probably see one of these and think "Cheap old Ferrari"
I don't know Ferraris at all, I like the FF, so don't know if the above is a cheap car or not, but I am sure many just see it as a £10k old Ferrari.
Id go with that, i think thats how many non car people would see it and to be fair they werent that wrong 5-10 years ago And many people probably see one of these and think "Cheap old Ferrari"
I don't know Ferraris at all, I like the FF, so don't know if the above is a cheap car or not, but I am sure many just see it as a £10k old Ferrari.
jonah35 said:
swisstoni said:
jonah35 said:
swisstoni said:
jonah35 said:
The car itself looks good in a garage etc but seeing a middle aged man in an old ferrari just looked a bit daft even i have to admit and i love cars
What people are ok to drive classic Ferraris would you say?Reality was a balding middle aged bloke with man boobs in a northern town did look a little daft even i have to admit and dont get me wrong, i was the one standing up for him as i like classic cars but it did look a little silly.
. No need to try to look for an argument when im not trying to start one My own view is other things come first in life, wife,kids,house.Then as we all get older,and a bit more settled we get that classic car we always wanted.
We all have our own journey to travel life and like most people they are judged on face value.People very fast to paint there own picture of you.
As for me do not drink or smoke love old cars.
Plus when you buy a car, it's your money and your choice does it matter what people think.
Many I bet would love, to be driving that car you are in.
Edited by SEE YA on Monday 30th May 11:03
jonah35 said:
On a coast road or in an italian town outside a cafe, even outside harrods many could pull it off. A nice couple or young ish chap.
Reality was a balding middle aged bloke with man boobs in a northern town did look a little daft even i have to admit and dont get me wrong, i was the one standing up for him as i like classic cars but it did look a little silly.
I know what you mean. I knew someone who had a lovely red convertible 355. Unfortunately when he got in to drive it his shiny bald head was sticking out of the top. He did look a bit daft. Rather like an old gent wearing a red track suit Reality was a balding middle aged bloke with man boobs in a northern town did look a little daft even i have to admit and dont get me wrong, i was the one standing up for him as i like classic cars but it did look a little silly.
k-ink said:
jonah35 said:
On a coast road or in an italian town outside a cafe, even outside harrods many could pull it off. A nice couple or young ish chap.
Reality was a balding middle aged bloke with man boobs in a northern town did look a little daft even i have to admit and dont get me wrong, i was the one standing up for him as i like classic cars but it did look a little silly.
I know what you mean. I knew someone who had a lovely red convertible 355. Unfortunately when he got in to drive it his shiny bald head was sticking out of the top. He did look a bit daft. Rather like an old gent wearing a red track suit Reality was a balding middle aged bloke with man boobs in a northern town did look a little daft even i have to admit and dont get me wrong, i was the one standing up for him as i like classic cars but it did look a little silly.
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