Modern classic prices tumbling - bargains to be had!
Discussion
I've been looking at a lot of cars I'd consider 'modern classics' and they just don't seem to be selling at the moment and I'm seeing prices getting slashed all over the place. Typical 2nd or 3rd cars are being affected most.
Some sellers are really openly desperate to shift their cars. Even outside of 'modern classics' the market is very muted. I'm selling a popular, well spec'd BMW priced appropriately judging by other alsking prices and extrapolating up from the webuyanycar or motorway values, yet I've barely had a sniff.
This is the worst sellers market I've seen in a decade or so. It very much mirrors what I'm seeing in the housing and job markets too. The buyers are in control. I reckon we're already in recession.
If I had the space and money in the bank I'd be hoovering up these cars like mad!
Example, a relatively low mileage E46 M3 coupe manual being offered at close to £10k, a £20k car in 2022.
Some sellers are really openly desperate to shift their cars. Even outside of 'modern classics' the market is very muted. I'm selling a popular, well spec'd BMW priced appropriately judging by other alsking prices and extrapolating up from the webuyanycar or motorway values, yet I've barely had a sniff.
This is the worst sellers market I've seen in a decade or so. It very much mirrors what I'm seeing in the housing and job markets too. The buyers are in control. I reckon we're already in recession.
If I had the space and money in the bank I'd be hoovering up these cars like mad!
Example, a relatively low mileage E46 M3 coupe manual being offered at close to £10k, a £20k car in 2022.
rotaryjam said:
I've been looking at a lot of cars I'd consider 'modern classics' and they just don't seem to be selling at the moment and I'm seeing prices getting slashed all over the place. Typical 2nd or 3rd cars are being affected most.
Agreed, but there is a lot of average cars out there, this always happens with things tipping into true 'Classic status' there's a cull of the dross.rotaryjam said:
Some sellers are really openly desperate to shift their cars. Even outside of 'modern classics' the market is very muted. I'm selling a popular, well spec'd BMW priced appropriately judging by other alsking prices and extrapolating up from the webuyanycar or motorway values, yet I've barely had a sniff.
No one has any spare cash, and these that do are hoarding it. I just had a reasonable inheritance, in a more buoyant market I'd probably be eyeing swapping my TVR for a McLaren MP4/12C, but no chance right now. rotaryjam said:
This is the worst sellers market I've seen in a decade or so. It very much mirrors what I'm seeing in the housing and job markets too. The buyers are in control. I reckon we're already in recession.
We are in recession, everything is slowing down as there's no confidence at all.rotaryjam said:
If I had the space and money in the bank I'd be hoovering up these cars like mad!
Not sure that's a good idea, the 'boomers' and early Gen-X had final salary pensions, tax free lump sums and were brough up with a very strong car culture.Later Gen-X and Millennials are the buyers for these modern classics and they have vastly differing levels of disposable income in later life. See how the cruise industry is trying to push itself down market and into the family holiday space as they realise the supply of retirement cash is drying up.
The good examples will appreciate of course, there's a buyer for everything.
Hippea said:
I can t really say I m seeing the same, modern classics are in demand and I m really surprised by some of the prices they are selling for
Are you looking at auctions? Because they seem to be a bit of an outlier. Really good stuff still seems to be selling quite well at auction but other places are a different story The world moves on. So-called Classics are being left behind and cars are no longer an aspirational purchase for young people.
Almost every new car on sa.e today is an SUV of one sort or another. New sportscars have almost ceased to exist except in the context of £250,000 bling machines that live a very sheltered life.
Almost every new car on sa.e today is an SUV of one sort or another. New sportscars have almost ceased to exist except in the context of £250,000 bling machines that live a very sheltered life.
Stick Legs said:
Not sure that's a good idea, the 'boomers' and early Gen-X had final salary pensions, tax free lump sums and were brough up with a very strong car culture.
Later Gen-X and Millennials are the buyers for these modern classics and they have vastly differing levels of disposable income in later life. See how the cruise industry is trying to push itself down market and into the family holiday space as they realise the supply of retirement cash is drying up.
The good examples will appreciate of course, there's a buyer for everything.
I don't disagree but the modern classics I'm talking about are 90s-early 2010s which are just before that generation I think.Later Gen-X and Millennials are the buyers for these modern classics and they have vastly differing levels of disposable income in later life. See how the cruise industry is trying to push itself down market and into the family holiday space as they realise the supply of retirement cash is drying up.
The good examples will appreciate of course, there's a buyer for everything.
Huzzah said:
When does an old banger become a modern classic?
When enough people get to a certain age and say "I wish I had never sold my (inset car of choice here)" and have enough money, time and space to do something about it.This usually co-incides with there being only a few good ones left.
rotaryjam said:
Stick Legs said:
Not sure that's a good idea, the 'boomers' and early Gen-X had final salary pensions, tax free lump sums and were brough up with a very strong car culture.
Later Gen-X and Millennials are the buyers for these modern classics and they have vastly differing levels of disposable income in later life. See how the cruise industry is trying to push itself down market and into the family holiday space as they realise the supply of retirement cash is drying up.
The good examples will appreciate of course, there's a buyer for everything.
I don't disagree but the modern classics I'm talking about are 90s-early 2010s which are just before that generation I think.Later Gen-X and Millennials are the buyers for these modern classics and they have vastly differing levels of disposable income in later life. See how the cruise industry is trying to push itself down market and into the family holiday space as they realise the supply of retirement cash is drying up.
The good examples will appreciate of course, there's a buyer for everything.
So you really are into 'generation rent' feeling nostalgic for the Icons of their youth for 2010's stuff to become classic!
rotaryjam said:
Bemmer said:
Please show me where these low mileage E46 M3 Manual Coupe's are for £10K..?
I understand the skepticism, I'm not saying that's typical but it happened. There appears to be quite a lot for haggling room and desperate sellers at the minute
.Bemmer said:
rotaryjam said:
Bemmer said:
Please show me where these low mileage E46 M3 Manual Coupe's are for £10K..?
I understand the skepticism, I'm not saying that's typical but it happened. There appears to be quite a lot for haggling room and desperate sellers at the minute
So there's one example with no detail on miles, condition etc, and not even a link to it, but apparently that makes a whole market?
It's end of summer and pre Budget, so some froth has come off some cars for sure, but the sweeping generalisation implying it's all downhill from here is hardly proven...
It's end of summer and pre Budget, so some froth has come off some cars for sure, but the sweeping generalisation implying it's all downhill from here is hardly proven...
macron said:
So there's one example with no detail on miles, condition etc, and not even a link to it, but apparently that makes a whole market?
It's end of summer and pre Budget, so some froth has come off some cars for sure, but the sweeping generalisation implying it's all downhill from here is hardly proven...
I'm not staying it will get worse, I'm just saying from experience buying and selling these types of cars it 'feels' worse than it's been for a long time and anyone can see for themselves that the values of certain cars are not what they were.It's end of summer and pre Budget, so some froth has come off some cars for sure, but the sweeping generalisation implying it's all downhill from here is hardly proven...
996/997 Porsches, E46 or E92 M3s, Subaru STIs etc are objectively being advertised for less and fetching less than they were 2/3 years ago. Add in go it inflation and I'd say asking prices are more like 2019 or before.
Edited by rotaryjam on Monday 22 September 05:03
Edible Roadkill said:
I can remember 2008/9 crash
Things like 911 s hit rock bottom, I also recall a friend talking about a M3 CSL in a dealer for £20k
I remember I was having new windows fitted before this happened and the window fitter was asking me how my industry was doing. As far as I knew, there were no issues and he proceeded to tell me how quiet he was and had very little work lined up. Things like 911 s hit rock bottom, I also recall a friend talking about a M3 CSL in a dealer for £20k
Next thing you know you couldn't give away sports and luxury cars.
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