"Modern Classics" and Sky High Asking Prices
Discussion
As we all know, when the money went out of property at the end of the last decade, it seems to have found its way into Cars. And increasingly, it seems to be finding its way into newer and newer ones. I'm not talking proper Exotica, I'm talking about things that are being given the term "Modern Classic".
The thing is, in my opinion, this term is being thrown about so carelessly right now by certain Sellers just to ask laughable amounts for cars. Looking through the classifieds, as we all do, I often find myself almost choking on asking prices for cars that were in shed territory not all that long ago.
Maybe I'm just moaning for the sake of it here, slightly bitter that I've waited to an age where I can insure most stuff, only to find the prices have gone through the roof. 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.
If there was ever any proof of my moan, its a certain page for a car sales company on facebook. I won't name names, I'm not out to slag off peoples businesses and they do sell some interesting stuff. However, they currently have an E36 Cab for sale. Yes, its mileage is around 70-80k or something and its very tidy. However, how they can have an asking price of £4300 for an Automatic 325i SE Cab is beyond me. The fact they've thrown a pair of oversized BBS Replicas on there isn't helping matters.
Am I the only one here thinking certain cars "Modern Classic Status" is being overplayed these days in order to ask ludicrous prices? Am I just being a moany Git? Should I just shut up and get on with my life? I'm sure you'll let me know.
The thing is, in my opinion, this term is being thrown about so carelessly right now by certain Sellers just to ask laughable amounts for cars. Looking through the classifieds, as we all do, I often find myself almost choking on asking prices for cars that were in shed territory not all that long ago.
Maybe I'm just moaning for the sake of it here, slightly bitter that I've waited to an age where I can insure most stuff, only to find the prices have gone through the roof. 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.
If there was ever any proof of my moan, its a certain page for a car sales company on facebook. I won't name names, I'm not out to slag off peoples businesses and they do sell some interesting stuff. However, they currently have an E36 Cab for sale. Yes, its mileage is around 70-80k or something and its very tidy. However, how they can have an asking price of £4300 for an Automatic 325i SE Cab is beyond me. The fact they've thrown a pair of oversized BBS Replicas on there isn't helping matters.
Am I the only one here thinking certain cars "Modern Classic Status" is being overplayed these days in order to ask ludicrous prices? Am I just being a moany Git? Should I just shut up and get on with my life? I'm sure you'll let me know.
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!It is an interesting phenomenon. I follow it a little as an owner of a VW Corrado VR6, a car which is often referred to as a modern classic and has been on the cusp of accumulating in value for some time.
The reality is, it seems like traders acquire good low mileage cars from owners who aren't really sure what they're worth then double the price. I used to be quite vocal about and critical of this, but as others in the club have reminded me on a few occasions, it only serves to push the prices up for all of us.. so really has to be a good thing.
The reality is, it seems like traders acquire good low mileage cars from owners who aren't really sure what they're worth then double the price. I used to be quite vocal about and critical of this, but as others in the club have reminded me on a few occasions, it only serves to push the prices up for all of us.. so really has to be a good thing.
Edited by Chicane-UK on Thursday 1st October 13:06
Chicane-UK said:
It is an interesting phenomenon. I follow it a little as an owner of a VW Corrado VR6, a car which is often referred to as a modern classic and has been on the cusp of accumulating in value for some time.
The reality is, it seems like traders acquire the cars and then double the price. I used to be quite vocal about and critical of this, but as others in the club have reminded me on a few occasions, it only serves to push the prices up for all of us.. so really has to be a good thing.
This is very true, and again I may just be disgruntled that I own a newer car and therefore may never see this. And indeed, that I sold a MK1 Golf (albeit, a driver) when I left college as I needed a better commuter, therefore not really being able to cash in on any profits.The reality is, it seems like traders acquire the cars and then double the price. I used to be quite vocal about and critical of this, but as others in the club have reminded me on a few occasions, it only serves to push the prices up for all of us.. so really has to be a good thing.
PTF said:
I have an S-reg 306 GTI-6 with 80k miles on it.
Shall we start the bidding at £5k??
You laugh but it won't be long. It's a shame because cars like yours (and I hope you dont mind me saying), are made more fun by the fact they are cheap in some ways. You wouldn't explore its limits as much if it was worth 3 times what it is now, for example!Shall we start the bidding at £5k??
I was at Silverstone Classic auction - and there wasn't too much logic. A beautiful 355 went unsold for IIRC 50k guide price!!
then a slightly less than tidy 930 Turbo - north of 120k from memory.
As always - if someone wants it, I guess it is worth that..........but for 120k - I would DEFO be looking at something like a CS or Balboni etc.....
Even the same brand 997 GT3, 996 GT3 MUST be better than a 930T as a drivers car....
subjective, but surely to most people a much better car...........
ranting over...........I feels like Foxtons have started sellings cars with the crazy pricing inflation!
then a slightly less than tidy 930 Turbo - north of 120k from memory.
As always - if someone wants it, I guess it is worth that..........but for 120k - I would DEFO be looking at something like a CS or Balboni etc.....
Even the same brand 997 GT3, 996 GT3 MUST be better than a 930T as a drivers car....
subjective, but surely to most people a much better car...........
ranting over...........I feels like Foxtons have started sellings cars with the crazy pricing inflation!
Chicane-UK said:
It is an interesting phenomenon. I follow it a little as an owner of a VW Corrado VR6, a car which is often referred to as a modern classic and has been on the cusp of accumulating in value for some time.
The reality is, it seems like traders acquire good low mileage cars from owners who aren't really sure what they're worth then double the price. I used to be quite vocal about and critical of this, but as others in the club have reminded me on a few occasions, it only serves to push the prices up for all of us.. so really has to be a good thing.
But it's only a good thing if you plan to try and cash out of the market. For those of us who's cars have risen in value, but the cars we would like to exchange them for have moved proportionally further away, it's almost the same problemThe reality is, it seems like traders acquire good low mileage cars from owners who aren't really sure what they're worth then double the price. I used to be quite vocal about and critical of this, but as others in the club have reminded me on a few occasions, it only serves to push the prices up for all of us.. so really has to be a good thing.
Leins said:
But it's only a good thing if you plan to try and cash out of the market. For those of us who's cars have risen in value, but the cars we would like to exchange them for have moved proportionally further away, it's almost the same problem
This is the situation that riles me, as I've ended up in it. Whereas when I passed my test (2009) a lot of cars that were affordable, were too expensive to insure. Now I'm old enough to insure them the car prices have gone through the roof. addz86 said:
rev-erend said:
Renault Clio mk2 v6 ... gets my vote.
- sighs* I sold mine for less than 10k five years ago
Edited by ikarl on Thursday 1st October 17:55
chrisxr2 said:
MK 1 focus rs prices are only going one way.
Hence why mine is going nowhere any time soon.Not until the reach the same price as a nice big turbo escort cossie, then I will do a straight swap
Could be a while until it reaches this kind of price though
http://www.ebay.co.uk/itm/Ford-Escort-RS-COSWORTH-...
I'm absolutely ecstatic that my hobby has become a legitimate way to make money long-term.
The more manufacturers that recognise this and continue to produce the parts through whichever associated brand they choose, the better.
My only regret throughout all of my car purchases, possibly, was not taking my Honda S2000 back to Honda for the book stamps. I've got easily enough history and proof that it's been serviced every 4-5,000 miles, but a stamp in that book might have helped for the future. I don't ever intend to sell the car, but I wish I'd not had to learn the hard way.
All cars will be getting FMSH in future.
The more manufacturers that recognise this and continue to produce the parts through whichever associated brand they choose, the better.
My only regret throughout all of my car purchases, possibly, was not taking my Honda S2000 back to Honda for the book stamps. I've got easily enough history and proof that it's been serviced every 4-5,000 miles, but a stamp in that book might have helped for the future. I don't ever intend to sell the car, but I wish I'd not had to learn the hard way.
All cars will be getting FMSH in future.
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.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
Now if only the same would happen to TVR when Mr Edgar gets it off the ground
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