Scuds stop selling...
Discussion
Ive noticed that since Scud prices hit 170K none have sold at all and its mid July!!!
The Scud section here just gets bigger with cars coming out of the woodwork for the bigger prices however the 170k cars are now 160/165k and along with the higher mileage 150/155k cars nothing has sold so these are just asking prices that could continue to fall.
I wonder if modern cars that have risen in value,riding the back of classic car values increases, will quickly return to expected values as winter approaches.
The Scud section here just gets bigger with cars coming out of the woodwork for the bigger prices however the 170k cars are now 160/165k and along with the higher mileage 150/155k cars nothing has sold so these are just asking prices that could continue to fall.
I wonder if modern cars that have risen in value,riding the back of classic car values increases, will quickly return to expected values as winter approaches.
one thing i have noticed this last couple of years is there is a lot of supercar movement just before le mans, people seem to buy just to have something to take...... then the market slows considerably.... re the scud, those who really wanted one bought in, at any cost, seems casual investors are not.....
It is not just Scuds, 993's etc.
There are lots of IMO overpriced cars, modern and classic, that have hit a brick wall as regards sales at current asking prices. This is the first step in the price correction process. Wait until October then watch reality kick in for committed sellers.
There are lots of IMO overpriced cars, modern and classic, that have hit a brick wall as regards sales at current asking prices. This is the first step in the price correction process. Wait until October then watch reality kick in for committed sellers.
I think a £30k rise over 3 months from a modest starting point has seen the steam run out on these and Challenge Stradale for the time being. At £130k they were good value but at £160k IMHO its a bit rich for what they are. All the hype and fear of missing out stoked up a frenzy which could leave late entrants needing to sit tight and ride any correction out.
Don't think they will lose a lot if forced to sell but I don't think they stack up car wise compared with other alternatives out there
Don't think they will lose a lot if forced to sell but I don't think they stack up car wise compared with other alternatives out there
With peak-Dow, UK interest rate rises and a UK General Election just around the corner, car prices for just about everything prolly don't have much further to rise at this point.
For the past ~2 years, almost everything from Vauxhall VX220s to Countachs has been rising relentlessly.
A 1965 Ferrari is about to go under the hammer in the US for ~£20m next month. That could represent the peak of the current boom.
For the past ~2 years, almost everything from Vauxhall VX220s to Countachs has been rising relentlessly.
A 1965 Ferrari is about to go under the hammer in the US for ~£20m next month. That could represent the peak of the current boom.
Lamboman
There's no doubt there is bubble-like aspects to the current market when you purely look at price rises. However, this is a very different cycle to the 5-7 year boom-bust cycles of recent times. We are in a reflation phase where there is a good chance that global central banks will maintain this monetary policy for far longer than you think they might.
So things could get even more mental before they correct.
The best advice for people is to buy cars that they want, can enjoy and don't use finance. Thats where people get stuck if the correction happens sooner than expected.
There's no doubt there is bubble-like aspects to the current market when you purely look at price rises. However, this is a very different cycle to the 5-7 year boom-bust cycles of recent times. We are in a reflation phase where there is a good chance that global central banks will maintain this monetary policy for far longer than you think they might.
So things could get even more mental before they correct.
The best advice for people is to buy cars that they want, can enjoy and don't use finance. Thats where people get stuck if the correction happens sooner than expected.
Bunk said:
Lamboman
There's no doubt there is bubble-like aspects to the current market when you purely look at price rises. However, this is a very different cycle to the 5-7 year boom-bust cycles of recent times. We are in a reflation phase where there is a good chance that global central banks will maintain this monetary policy for far longer than you think they might.
So things could get even more mental before they correct.
Agree. There are roughly 50% more US dollars and UK pounds in circulation than there were pre-crisis, which means, roughly speaking, for this reason alone, assets which have a fixed supply (land or out-of-production cars), prices should climb 50%.There's no doubt there is bubble-like aspects to the current market when you purely look at price rises. However, this is a very different cycle to the 5-7 year boom-bust cycles of recent times. We are in a reflation phase where there is a good chance that global central banks will maintain this monetary policy for far longer than you think they might.
So things could get even more mental before they correct.
boxerTen said:
Agree. There are roughly 50% more US dollars and UK pounds in circulation than there were pre-crisis, which means, roughly speaking, for this reason alone, assets which have a fixed supply (land or out-of-production cars), prices should climb 50%.
Good time to buy a Scuderia then
I've been lusting after a mk1 escort rs1600i that Cheshire classic cars have in for a while now. It's up at £80000 though. I know these go for 50k ish but 80k? Blimey. Mind you, it's absolutely stunning. But as I think there's a general price drop coming soon, my head is over ruling my heart.
_Leg_ said:
I've been lusting after a mk1 escort rs1600i that Cheshire classic cars have in for a while now. It's up at £80000 though. I know these go for 50k ish but 80k? Blimey. Mind you, it's absolutely stunning. But as I think there's a general price drop coming soon, my head is over ruling my heart.
Remember having one of those for about a week 20 odd years ago, a mate offered £250.00 more than I paid for it so...... Gassing Station | Ferrari V8 | Top of Page | What's New | My Stuff