Will Coronavirus hit used car prices?

[anonymous-user]

jsf said:

andymc said:

has the white Sierra RS been through yet?

Yes, lot list is done in order.

https://www.silverstoneauctions.com/events/2020-au...

Not many indicators there imho. Lots of seemingly astute purchases, my highlights;
elan sprint for £28k and DB9 Volante for £28k are a good buy, Viper for £36k also looks like an appreciating asset,
the 1960 Alfa gets you an entry to a lot of prestigious historic events too, for £55k it feels cheap

most other things seem quite high. Who pays £150k for a 3.0 CSL?

[anonymous-user]

pablo said:

Not many indicators there imho. Lots of seemingly astute purchases, my highlights;
elan sprint for £28k and DB9 Volante for £28k are a good buy, Viper for £36k also looks like an appreciating asset,
the 1960 Alfa gets you an entry to a lot of prestigious historic events too, for £55k it feels cheap

most other things seem quite high. Who pays £150k for a 3.0 CSL?

Some stuff didn't sell, but most made decent money i thought. It seemed to follow what i thought at the time this thread started, those with plenty of cash will still buy as they did in 2008.

[jammy-git]

Yea, I figure there is probably quite a few rich folk currently taking money out of savings expecting a big recession and sticking it into assets such as classic cars, hoping for a better return over the next 3-5 years.

[Anonymous-poster]

jsf said:

pablo said:

Not many indicators there imho. Lots of seemingly astute purchases, my highlights;
elan sprint for £28k and DB9 Volante for £28k are a good buy, Viper for £36k also looks like an appreciating asset,
the 1960 Alfa gets you an entry to a lot of prestigious historic events too, for £55k it feels cheap

most other things seem quite high. Who pays £150k for a 3.0 CSL?

Some stuff didn't sell, but most made decent money i thought. It seemed to follow what i thought at the time this thread started, those with plenty of cash will still buy as they did in 2008.

Or dealers spending their bounce back loans?

[So]

jammy-git said:

Yea, I figure there is probably quite a few rich folk currently taking money out of savings expecting a big recession and sticking it into assets such as classic cars, hoping for a better return over the next 3-5 years.

I don't think rich people who want to remain that way are investing in classic cars.

[ChevronB19]

Giulietta Sprint Speciale looks like a good buy. The Jay Kay M3, not so.

The pistachio Elan is gorgeous, and that was definitely cheap.

Odd results, some bargains, some at normal price.

[kevinon]

I'm learning fast that the the nice showrooms don't tell the real story of car retail.
Lookers sells 180,000 cars at £5 billion. You could buy it for £70 million.
Pendragon has sales of £4 billion. You could buy it for £110 million.
So you could get £9 billion worth of car sales for £180 million.

That's less than the the world's most expensive football player. I can't see the future re used car values, but there's gonna be some serious changes in the whole market surely. It's insane as business.

[stevemcs]

That SL63 fetched very strong money, the Sierra slightly less than I was expecting

[Macron]

jsf said:

Yes, lot list is done in order.

https://www.silverstoneauctions.com/events/2020-au...

Can someone educate me on the Nissan Patrol hitting ~£20k?

[northwest monkey]

Butter Face said:

So is UK unemployment going to be as bad as the US?

Genuine question - if you don't think the UK will be as bad as the US then why not?

Not being antagonistic, just curious

[anonymous-user]

Macron said:

jsf said:

Yes, lot list is done in order.

https://www.silverstoneauctions.com/events/2020-au...

Can someone educate me on the Nissan Patrol hitting ~£20k?

Low mileage examples of unburstable cars like this always seem to hold money. Most have 150k miles and still wear well - so, there is a lot of life left in the car.

Having said that it is toppy.

[phib]

I am genuinely amazed by all these auction prices (Silverstone and collecting cars)

I really thought we would have seen price drops by now ! Clearly I’m very wrong. Who is buying cars at this time?

I am please though as I’m wanting to sell my Griffith!

Phib

[Throttlebody]

phib said:

I am genuinely amazed by all these auction prices (Silverstone and collecting cars)

I really thought we would have seen price drops by now ! Clearly I’m very wrong. Who is buying cars at this time?

I am please though as I’m wanting to sell my Griffith!

Phib

Some keen pricing on some stuff but overall nothing dramatic on pricing. That Pug 205 was a prolonged and sweaty experience to get the hammer down.

[Sheepshanks]

Deep Thought said:

skeeterm5 said:

Chucklehead said:

Hertz has filed for bankruptcy. I'd said at the start of this thread that Car Rental companies will flood the market with whatever they can, and it's already happening.

https://jalopnik.com/hertz-just-dumped-a-bunch-of-...

In fairness Hertz has been on shaky ground for years, but only a month or so ago they had the same rating as Government bonds!

They have filed for bankruptcy protection which is very a very different thing..

Apparently they put 600K cars on the market in April at the same time as used prices crashed by 34%.

[The spinner of plates]

phib said:

I am genuinely amazed by all these auction prices (Silverstone and collecting cars)

I really thought we would have seen price drops by now ! Clearly I’m very wrong. Who is buying cars at this time?

I am please though as I’m wanting to sell my Griffith!

Phib

Don’t forget that whilst most people are seeing their income outlook decreasing, plenty of people / companies are booming and will for the foreseeable.

A mate of mine works for a firm manufacturing anti bacterial hand gels, soaps & general household cleaning products. His biggest challenge is keeping up with demand. The order books are stacked and invoices paid on delivery. A shortage of work / money isn’t his concern right now.

[anonymous-user]

phib said:

I am genuinely amazed by all these auction prices (Silverstone and collecting cars)

I really thought we would have seen price drops by now ! Clearly I’m very wrong. Who is buying cars at this time?

I am please though as I’m wanting to sell my Griffith!

Phib

Collecting cars attracts an odd crowd, it’s almost as if people are happy to pay a premium For a car on that particular bidding platform.

[Throttlebody]

kevinon said:

I'm learning fast that the the nice showrooms don't tell the real story of car retail.
Lookers sells 180,000 cars at £5 billion. You could buy it for £70 million.
Pendragon has sales of £4 billion. You could buy it for £110 million.
So you could get £9 billion worth of car sales for £180 million.

That's less than the the world's most expensive football player. I can't see the future re used car values, but there's gonna be some serious changes in the whole market surely. It's insane as business.

You can predict there’s going to a few big dealership that won’t survive in this new CV19 world. Big shiny outfits that were running loses even pre CV19.

[Deep Thought]

Throttlebody said:

You can predict there’s going to a few big dealership that won’t survive in this new CV19 world. Big shiny outfits that were running loses even pre CV19.

Yup. Undoubtedly.

[jimPH]

I don't know if people have been saving or if everyone has been working on their projects, but in the past week I've been selling loads of stuff on eBay that I've had up for over 12 months. Seats, valve retainers, trims, loads of bits and bobs that I've had left over from past cars.

I think we're in for a post Corona bounce.

Edit! Just sold something else! A memory seat switch and trim :-)

Edited by jimPH on Sunday 24th May 11:28

[Deep Thought]

jimPH said:

I don't know if people have been saving or if everyone has been working on their projects, but in the past week I've been selling loads of stuff on eBay that I've had up for over 12 months. Seats, valve retainers, trims, loads of bits and bobs that I've had left over from past cars.

I think we're in for a post Corona bounce.

Edit! Just sold something else! A memory seat switch and trim :-)

Edited by jimPH on Sunday 24th May 11:28

I've been selling fish tank related stuff with success over the last few weeks (all easy handover stuff - pumps, heaters, etc), but you've reminded me actually - i've a full black leather e90 interior that i must get listed and some other car related stuff.

I also have been listing a couple of bits and pieces for a not so computer literate friend of mine and he got a lot of interest (and sold) an oldish Octavia (cheap diesel car sells shocker) but also a classic early nineties Mini. He'd quite a bit of interest in the mini. It wasnt the best in the world and was quite basic (not a Cooper or Cooper Sport). Maybe people looking for an easy summer project when they're doing nothing else?

Edited by Deep Thought on Sunday 24th May 11:37