Price of classics (in this environment)
Discussion
The price of mainstream stock is well documented (and much debated); how are the prices of 1990s era and earlier holding up?
Appreciate there are outliers that buck the trends, but general perception?
Talking well looked after classics for long term ownership, not shed territory. Nothing ludicrous like Ferraris either, just good honest well cared for yesteryear motors.
Appreciate there are outliers that buck the trends, but general perception?
Talking well looked after classics for long term ownership, not shed territory. Nothing ludicrous like Ferraris either, just good honest well cared for yesteryear motors.
I'm currently in the process of renewing the insurance on the 205 GTI i bought in '08 for circa £1500, and then spent the time since keeping it in good working order, servicing, refreshing parts when needed, etc.
When chatting to the broker recently, it was politely suggested to me that i should really change the declared value of the car (given the work done) incase of a worst case scenario. I then realised that i've had it valued at £3k since 2012 and never changed it - oops. Although i know the prices have been rising for all forms of classics like these over the last few years (and i've been there before during my time with a Series 2 RS Turbo and selling it just before the Ford RS market went bats
t crazy) i've realised that even the pre Covid current market value (for the same sort of car mileage / body, engine wise) was between £7k - £10k.
Although, saying that, there's still even more expensive ones way above that - some of which warrant the price, but there are a fair chunk of overpriced ones out there with dubious history and restos that look more like someones tried making it look nice visually rather than actually doing anything with the aging mechanicals.
When chatting to the broker recently, it was politely suggested to me that i should really change the declared value of the car (given the work done) incase of a worst case scenario. I then realised that i've had it valued at £3k since 2012 and never changed it - oops. Although i know the prices have been rising for all forms of classics like these over the last few years (and i've been there before during my time with a Series 2 RS Turbo and selling it just before the Ford RS market went bats
t crazy) i've realised that even the pre Covid current market value (for the same sort of car mileage / body, engine wise) was between £7k - £10k. Although, saying that, there's still even more expensive ones way above that - some of which warrant the price, but there are a fair chunk of overpriced ones out there with dubious history and restos that look more like someones tried making it look nice visually rather than actually doing anything with the aging mechanicals.
Edited by AlexRS2782 on Saturday 23 October 00:46
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