Have Classic Car values found a new level?
Discussion
f1ten said:
Brilliant well done and on my bucket list is also an 80a 911
I was fortunate enough to buy one 12 years ago before the bubble grew, but unfortunately I sold it 10 years ago too, so never got the increase! It was an immaculate 1985 Carerra Supersport which would be worth around £80k now - I sold for £17.5k. Oh well. I could never afford to buy it back but at least I had my time. (pic in my profile I believe).devs said:
I've always wanted an early 80's 911 and should have bought one years ago when they were affordable.
Following a recent bereavement, I thought to myself that life is way too short and then continued to sell pretty much everything I had in the garage and yesterday i finally bought a 1984 911. I'm collecting it next week.
I was concerned that I may miss my one opportunity to actually buy one of these cars as their values continue to rocket and the entry level will become unreachable.
Whilst I know I've bought at the most expensive time and it may come back to bite me in the arse, big bucket list tick for me and in my current mindset, you don't have long in this world so ... one happy man!
Following a recent bereavement, I thought to myself that life is way too short and then continued to sell pretty much everything I had in the garage and yesterday i finally bought a 1984 911. I'm collecting it next week.
I was concerned that I may miss my one opportunity to actually buy one of these cars as their values continue to rocket and the entry level will become unreachable.
Whilst I know I've bought at the most expensive time and it may come back to bite me in the arse, big bucket list tick for me and in my current mindset, you don't have long in this world so ... one happy man!
I don't think classics are at a new sustainable level. If we have another major recession, they will all be back down again and the cycle will repeat again in the year after that. Electric cars will have no major effect for many years.
PS Devs, Impactbumpers is a very useful forum and some great guys to meet if you get the chance.
f1ten said:
Apart from things like Audi Quattro at 40k that to me feels over the top ?
You haven't seen the results from the NEC Classic Car show auction the at the weekend...?A 1990 20v UR with only 16k miles sold for £70k.........
And a 6k miles from new Sierra Cossie RS500 sold for an astonishing £112k.......
aeropilot said:
You haven't seen the results from the NEC Classic Car show auction the at the weekend...?
A 1990 20v UR with only 16k miles sold for £70k.........
And a 6k miles from new Sierra Cossie RS500 sold for an astonishing £112k.......
Just looked the results there - wow!! Ford fans really are on another planet, but some serious stuff going for relatively little - price of a new Golf-type of money.A 1990 20v UR with only 16k miles sold for £70k.........
And a 6k miles from new Sierra Cossie RS500 sold for an astonishing £112k.......
Some car prices are going bananas. But here's one I posted earlier, a mundane 1959 850cc Mini bought at auction in the current state with all the rest in boxes. £18,000 the bits and £40,000 to restore, so a £60,000 Mini.
IMG_1383 by Tony Brown, on Flickr
IMG_1383 by Tony Brown, on Flickr
f1ten said:
I agree f40s and some mega stuff might faulter in price if we do go in to decline in 18 months but I think lower value classics are now at a sustainable level. Apart from things like Audi Quattro at 40k that to me feels over the top ?
The moral is – and this is relevant to that other thread about not living for ever – buy if/when you get the chance, don't wait until you can actually afford it. There's no way I could justify the expense either of my classics at their current value. That price of £70k for the Quattro is also interesting because that price corrects out (given inflation and all the rest) as aroundabout what it cost when new, so if you'd bought it in 1989 as 'an investment' when it was new you'd have had to wait nearly thirty years before you'd even start to see any return. Plus you'd have had to store it and service it. And by now replace a lot of stuff anyway, because (as I'm discovering) they degrade with age, as well as use. And nothing is cheap on a Quattro, (although worth every penny).
Maybe we could agree on a definition of 'classic' based on how quickly it passes through the depreciation curve and achieves parity with its original selling price.
Yertis said:
.....£70k for the Quattro is also interesting because that price corrects out (given inflation and all the rest) as aroundabout what it cost when new, so if you'd bought it in 1989 as 'an investment' when it was new you'd have had to wait nearly thirty years before you'd even start to see any return. Plus you'd have had to store it and service it. And by now replace a lot of stuff anyway, because (as I'm discovering) they degrade with age, as well as use. And nothing is cheap on a Quattro, (although worth every penny)....
Not to mention spare parts becoming unavailable.lowdrag said:
Some car prices are going bananas. But here's one I posted earlier, a mundane 1959 850cc Mini bought at auction in the current state with all the rest in boxes. £18,000 the bits and £40,000 to restore, so a £60,000 Mini.
IMG_1383 by Tony Brown, on Flickr
I paid £750 for this 1960 Mini in 1992, ran it for 18 months, had the registration off and sold it for about £350, I was really pleased with myself at the time.IMG_1383 by Tony Brown, on Flickr
devs said:
I've always wanted an early 80's 911 and should have bought one years ago when they were affordable.
Following a recent bereavement, I thought to myself that life is way too short and then continued to sell pretty much everything I had in the garage and yesterday i finally bought a 1984 911. I'm collecting it next week.
I was concerned that I may miss my one opportunity to actually buy one of these cars as their values continue to rocket and the entry level will become unreachable.
Whilst I know I've bought at the most expensive time and it may come back to bite me in the arse, big bucket list tick for me and in my current mindset, you don't have long in this world so ... one happy man!
Hi DevsFollowing a recent bereavement, I thought to myself that life is way too short and then continued to sell pretty much everything I had in the garage and yesterday i finally bought a 1984 911. I'm collecting it next week.
I was concerned that I may miss my one opportunity to actually buy one of these cars as their values continue to rocket and the entry level will become unreachable.
Whilst I know I've bought at the most expensive time and it may come back to bite me in the arse, big bucket list tick for me and in my current mindset, you don't have long in this world so ... one happy man!
I'd really like to know how you feel now with you 911 after owning it a while.
I too always loved the look and ideas of a 911 9f that sort of vintage but everyone I tested was a disappointment. The first a 70's modelin the early 80's then a couple of slightly newer ones in the 80's and 90's and an 80's targa a couple of years ago with so much scuttle shake it was ridiculous.
Personally after a couple of cars i'd owned for 5 or 6 years in the 80's, I decided I'd try out a few different cars. So the 4 TVRs I've had have never lasted more than 3 years, that said I owned a Caterham from 1990 to 2002 then sold it. But then bought it back a couple of years ago.
I'd love to find my "forever car" that did everything but sadly I'm destined to keep changing I fear. So if you can find me a go anywhere vehicle, convertible 4 seater, that can still be used in the winter and not leak, can take 2 dogs in the rear, looks classy, handles, good on fuel, decent turn of speed with plenty of torque for low down lazy grunt.....
Horsetan said:
Yertis said:
.....£70k for the Quattro is also interesting because that price corrects out (given inflation and all the rest) as aroundabout what it cost when new, so if you'd bought it in 1989 as 'an investment' when it was new you'd have had to wait nearly thirty years before you'd even start to see any return. Plus you'd have had to store it and service it. And by now replace a lot of stuff anyway, because (as I'm discovering) they degrade with age, as well as use. And nothing is cheap on a Quattro, (although worth every penny)....
Not to mention spare parts becoming unavailable.As someone relatively experienced in buying (and occasionally selling) I’ve pretty much given up on understanding any form of current market dynamics
In essence stock is still there but prices are 15-25% above what people want to pay. Ask any dealer and they will tell you it’s deadly quiet out there
Gut feel - give it a couple of years and things will pick up (along with all other types of asset). The only sales between now and then will either be true classics (£1M+) or motivated sellers
In essence stock is still there but prices are 15-25% above what people want to pay. Ask any dealer and they will tell you it’s deadly quiet out there
Gut feel - give it a couple of years and things will pick up (along with all other types of asset). The only sales between now and then will either be true classics (£1M+) or motivated sellers
Have to say that the price of E-types seems to have fallen back quite a bit from the beginning of the year. Well, that is that dealers still seem to be demanding stratospheric prices but auction sales are far less. Bonham's have and outside lock E-type coming up with an estimate of £150,000 which is less than half what one would expect. OK it is RHD but built LHD and not original colour but that could be put right and still be well under the prices asked in factory condition.
lowdrag
IMO market is flooded with 'e' types - bit like 10-15years ago when everyone and his dog wanted/was rebuilding triumph stags - now market is flooded with stags the prices have found the cars true value, I went to a large classic car show this summer which had a large Jag owners club stand, there must have been ~20 newly 'recommissioned' 'e' types and one nice patinated original car, which had never been touched - I spent 20 minutes photographing the original car much to the consternation of all the other owners of the sad pristine recomissioned cars. I was asked why I was interested in the original car - I said I prefered nice original cars They looked confused
IMO market is flooded with 'e' types - bit like 10-15years ago when everyone and his dog wanted/was rebuilding triumph stags - now market is flooded with stags the prices have found the cars true value, I went to a large classic car show this summer which had a large Jag owners club stand, there must have been ~20 newly 'recommissioned' 'e' types and one nice patinated original car, which had never been touched - I spent 20 minutes photographing the original car much to the consternation of all the other owners of the sad pristine recomissioned cars. I was asked why I was interested in the original car - I said I prefered nice original cars They looked confused
diametric123 said:
.....stock is still there but prices are 15-25% above what people want to pay. Ask any dealer and they will tell you it’s deadly quiet out there....
Perhaps they might want to consider dropping those prices to drum up some trade. Would it not be better to have some turnover, rather than having nothing for an unknown period of time in the hope that potential customers might feel prosperous enough to pay the higher levels?rene7 said:
lowdrag
IMO market is flooded with 'e' types - bit like 10-15years ago when everyone and his dog wanted/was rebuilding triumph stags - now market is flooded with stags the prices have found the cars true value, I went to a large classic car show this summer which had a large Jag owners club stand, there must have been ~20 newly 'recommissioned' 'e' types and one nice patinated original car, which had never been touched - I spent 20 minutes photographing the original car much to the consternation of all the other owners of the sad pristine recomissioned cars. I was asked why I was interested in the original car - I said I prefered nice original cars They looked confused
I've had mine over 30 years now and she was definitely "patinated" after over 100,000 miles, so I decided to have her refreshed and put back into the colours she wore when new. She was like an old pair of shoes and I loved her, and now I find myself breaking her in all over again. Well, if I am granted another 20 years that is!IMO market is flooded with 'e' types - bit like 10-15years ago when everyone and his dog wanted/was rebuilding triumph stags - now market is flooded with stags the prices have found the cars true value, I went to a large classic car show this summer which had a large Jag owners club stand, there must have been ~20 newly 'recommissioned' 'e' types and one nice patinated original car, which had never been touched - I spent 20 minutes photographing the original car much to the consternation of all the other owners of the sad pristine recomissioned cars. I was asked why I was interested in the original car - I said I prefered nice original cars They looked confused
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