Classic car ''bubble'' and china crisis/stock market jitters
Discussion
I did scour the classics forum for others who may be discussing the ramifications of this for values of all the E types, Ferrari testarossas, cossies et al..
Nothing came up and i am interested to hear opinions on the long term viability of such high prices in the classic car market.
It seems in other threads when parallels were drawn with the 1990's crash the consensus among owners/vested interests was that this time round things would be different due to new demand for classic cars coming from the BRICS and interest rates being so low for such a long period.
As i own nothing of real classic car caliber im on the fence about it all... Im only hoping if the top end slows down i might find a mice e39 m5 sub £10k.
So with china not looking so rosy and the FTSE and DOW JONES slightly tits up, Are we going to see a return to £15k 964's and E30 M3's? £30-40k E types and dinos?
Regards lads.
Nothing came up and i am interested to hear opinions on the long term viability of such high prices in the classic car market.
It seems in other threads when parallels were drawn with the 1990's crash the consensus among owners/vested interests was that this time round things would be different due to new demand for classic cars coming from the BRICS and interest rates being so low for such a long period.
As i own nothing of real classic car caliber im on the fence about it all... Im only hoping if the top end slows down i might find a mice e39 m5 sub £10k.
So with china not looking so rosy and the FTSE and DOW JONES slightly tits up, Are we going to see a return to £15k 964's and E30 M3's? £30-40k E types and dinos?
Regards lads.
Maybe i am slightly bitter due to missing the boat on the E36 M3, Z3M Breadvan,R32 GTR,NSX etc. need i depress myself further...
Was hoping for a more bearish view of the market in a way! Days of a certain £4000 E39 M5 Longtermer in one of the mags 'W4OOM' if i remember right seem long gone
Was hoping for a more bearish view of the market in a way! Days of a certain £4000 E39 M5 Longtermer in one of the mags 'W4OOM' if i remember right seem long gone
Some good points made lads thanks.
In response to george500 i agree with you mate, I didnt say personally that i thought the BRICS was having an effect but rather that seemed to be the reasoning of persons proclaiming that this bubble is different
I actually sit more on donkeyapples' side of the fence, im not that old at 26 but i can still remember thumbing through copies of C&SC in my teens and seeing sub £100k miuras £40k dinos etc.
Wholeheartedly agree about the shoddy examples/fakes a certain london based vendor has a ''group b'' audi qauttro up for rather a large amount of £ , I dont know its provenance but it looks fishy as a whole package to me... Triggers broom springs to mind
Regards.
In response to george500 i agree with you mate, I didnt say personally that i thought the BRICS was having an effect but rather that seemed to be the reasoning of persons proclaiming that this bubble is different
I actually sit more on donkeyapples' side of the fence, im not that old at 26 but i can still remember thumbing through copies of C&SC in my teens and seeing sub £100k miuras £40k dinos etc.
Wholeheartedly agree about the shoddy examples/fakes a certain london based vendor has a ''group b'' audi qauttro up for rather a large amount of £ , I dont know its provenance but it looks fishy as a whole package to me... Triggers broom springs to mind
Regards.
I guess im on the vulture side of the fence, Im still in that mid 20's skint phase and trying to be prudent.
I dont really like Anything post 2010 so i guess im holding out till i can afford an e92 m3/ e60 m5 now as opposed to e36/e39/e30 etc. Im even suprised at stuff like e34 540i's and 535i's with the big six... Even prices of vehicles in this bracket seems especially strong ATM , maybe the tops pulling it up. My e39's still worth about as much as a packet of mini cheddars sadly...
Im inclined to agree with one poster saying that its not the classic car market more the state of other markets affecting the ability of city types/hedge fund managers having the money to maintain or even keep hold of a portfolio of classics.
Regards.
I dont really like Anything post 2010 so i guess im holding out till i can afford an e92 m3/ e60 m5 now as opposed to e36/e39/e30 etc. Im even suprised at stuff like e34 540i's and 535i's with the big six... Even prices of vehicles in this bracket seems especially strong ATM , maybe the tops pulling it up. My e39's still worth about as much as a packet of mini cheddars sadly...
Im inclined to agree with one poster saying that its not the classic car market more the state of other markets affecting the ability of city types/hedge fund managers having the money to maintain or even keep hold of a portfolio of classics.
Regards.
Still staying on topic lads, Just been flicking through a copy of Total BMW dated February 2009.One of the featured cars is a BMW E9 CSL 3.0, A clean rust free car just restored but lacking paperwork sold for £8100 with £1400 fees through coys.
There is an e9 CSL in the same colour combination and freshly restored , Up at a well known and oft pricey BMW Specialist for £125000, i know the provenance might not be quite as good, But that's roughly a 1200% increase in value/asking price ... Bonkers :O
Regards.
There is an e9 CSL in the same colour combination and freshly restored , Up at a well known and oft pricey BMW Specialist for £125000, i know the provenance might not be quite as good, But that's roughly a 1200% increase in value/asking price ... Bonkers :O
Regards.
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