values cooling?

[lornemalvo]

Is it me, or do classic car values seem to be cooling? I'm looking at run of the mill classics, considering one as a runaround, e.g. Farinas, Heralds etc and there seem to be some very good buys around. Is it possible this is the start of a cooling off period? (not a completely bad thing, in my opinion)

[restoman]

Strange, it seems to me that it's the exact opposite - stupid money being asked for absolutely any old bit of tat.

[lornemalvo]

I could be wrong, mind you, but three consecutive cars I looked at seem really good value. Tiny sample, obviously.

[lowdrag]

My car has dropped 100,000 in the last five years. Not that I care, since it cost me virtually nothing forty years ago and is still just that - my car. We've had booms and busts before and one should never buy as an "investment", but only because you want it and will use it. I could have sold both of my cars at XK70 in 2017, but then, as the wise man said, "what can you actually do with a 50 note except light the fire". And where would I have found other cars with the same memories? Buy, use, enjoy. If that isn't how you feel you are in the wrong forum. Try the Rloex market - they are getting somewhat concerned about their "investment" and seem to have forgotten that it was designed for telling the time - without box and tags.

Edited by lowdrag on Saturday 21st May 08:01

[mk1coopers]

The only time I look at ‘values’ is when the insurance is due, as Lowdrag says, buy it because you want it, use it any enjoy it, if you end up making money after deducting the cost of ownership then that should be the icing on the cake. With the current economic situation having something (doesn’t have to be a car) that puts a smile on your face once in a while is priceless.

[lowdrag]

mk1coopers said:

The only time I look at ‘values’ is when the insurance is due, as Lowdrag says, buy it because you want it, use it any enjoy it, if you end up making money after deducting the cost of ownership then that should be the icing on the cake. With the current economic situation having something (doesn’t have to be a car) that puts a smile on your face once in a while is priceless.

And therein lies the rub. I am on the fourth ring binder of paperwork since I bought the car nearly forty years ago. They go from a bottle of Water Wetter last week (no idea if it works so if anyone has any experience please post) back to the purchase documents in the 1980's. They include two full restorations over 125,000 miles. A quick totting up shows that even if the car were sold for £150,000 tomorrow I am still out of pocket, and well, if one includes fuel (25,000 litres), oil, tax, insurance and other consumables I am truly down the pan. etc But as Coopers says. you can never put a price on the smiles, the friendships, the rallies, the meetings and even just walking to the garage, opening the door and just looking at the treasures therein.

Edited by lowdrag on Saturday 21st May 20:39

[P5BNij]

Your last line there rings so true lowdrag, every time I open my garage door I get 'the buzz', whatever state my cars are in. Nice garage by the way

As for the values issue - I Iook at car&classic pretty much every day and see cars being advertised which were on there well over a year ago, some are the same price and a few have even had several grand added. A case in point - last year I had my eye on the first V8 engined Maserati QPIV to arrive in the UK, it was on at 14.5k then and now it's at 18.4k. Whether it'll sell at that price who knows, but values of certain 'niche' cars are still rising.

I think it all depends on the car - if I sold my '68 Cooper S now I'd easily get my money back (not that I'm going to), but if I sold my Maser Biturbo I might just break even or more likely be out of pocket.

[Tyre Smoke]

Totally agree. I could easily clear a few grand by selling my Trabant. I doubt I ever will, she's just such a hoot to drive. The smell, the speed, the lack of any comfort...

And then I have the Chimaera I bought last September. Comfortable, quick, drophead, great mile muncher and lovely noise. Unlikely to ever sell it either.

I have a Hyundai i40 Touring on 213k which is my daily with heated steering wheel, seats, aircon, DAB, etc. Boring as Hell. But, a very very capable car for what I need it for.

Nothing beats the smell in the garage when I open the doors, classic car.

[LuS1fer]

lornemalvo said:

Is it me, or do classic car values seem to be cooling? I'm looking at run of the mill classics, considering one as a runaround, e.g. Farinas, Heralds etc and there seem to be some very good buys around. Is it possible this is the start of a cooling off period? (not a completely bad thing, in my opinion)

To be fair, it depends on the car.

My first car was an A40 Farina Mk II when my mate had an Anglia 105E. The Farina was a way better car yet values have remained conspicuosly good value, compared to anything "Ford".

Other than that, there are a lot of chancers still out there - a 1970 Land Rover for £32k, a Skoda Estelle rally car for £7000 and so forth.

[1000 Miglia]

I'm watching a Historics classic auction right now , prices are good for some and really poor for others , so fairly normal .

My favourite lot is coming soon , an immaculate FIAT 124 coupe S1 1968 .

[1000 Miglia]

The 124 got nowhere near the estimate at £8250 , estimated at £14K to £17K , which in my opinion was reasonable for

a car in such nice described condition .

1 Rome owner , dry stored for very long time , only 35000 miles , very disappointing result for the vendor .

[shih tzu faced]

Cost of living will surely start to affect values in the £0-20k sector. Not so much in the mega money exotics bubble.

PS I’m usually completely wrong!

[lowdrag]

1000 Miglia said:

I'm watching a Historics classic auction right now , prices are good for some and really poor for others , so fairly normal .

My favourite lot is coming soon , an immaculate FIAT 124 coupe S1 1968 .

Bid to only £8,500 only.

[Skyedriver]

shih tzu faced said:

Cost of living will surely start to affect values in the 0-20k sector. Not so much in the mega money exotics bubble.

Tend to think you are correct there.
As an avid ad watcher I've seen certain models rising rapidly still but others still for sale months after going on line.

There's a lot of indifferent tat, tarted up for sale in the hope of catching someone thinking they're getting a bargain investment. These advertised for sale or for auction on an increasing number of web sites along with the likes of Mathewsons and Anglian (other auction houses are available)

My only concern with prices are that I buy something now that I could buy in 6 months time at a lesser price as opposed to the better buy now as it'll be a few £ more in 6 months. If prices do drop then those of us who are looking to buy may be able to afford that Fulvia or integrale.

[mike74]

shih tzu faced said:

Cost of living will surely start to affect values in the 0-20k sector. Not so much in the mega money exotics bubble.

PS I’m usually completely wrong!

I'd possibly say the opposite.

There will always be the small time investors and debt junkies able to bottom feed at the lower end of the classic market so surely the £0-£20k sector is more likely to hold up? And possibly become more in demand as people can no longer afford to buy/invest further up the price spectrum?

[What The Deuces]

I think it’s right to look at the supply side as well as demand, a lot of people will be looking to divest of unaffordable luxuries in the near future, before the bubble bursts, so they will burst their own bubble at the lower end in my ciew

[1000 Miglia]

lowdrag said:

1000 Miglia said:

I'm watching a Historics classic auction right now , prices are good for some and really poor for others , so fairly normal .

My favourite lot is coming soon , an immaculate FIAT 124 coupe S1 1968 .

Bid to only 8,500 only.

I thought it was £8250 , whichever one it was , wasn't nearly enough for a car as nice as that , I speculated on another
forum that it should cost £20 K .
How very wrong could I be ?

[SirCarsAllot]

Is that indicative of the thread title though, this time last year maybe a different story..

I’m hovering over Murcielagos currently and feeling a little cautious with the market due to the current recession, many uk citizens are yet to even acknowledge the fact

There’s some strong indicators people are realising and i think the next 3-4 months will certainly see a downturn in most areas, the housing market is showing signs also and at a time of the year when things normally boom.

[Han Solo]

mike74 said:

shih tzu faced said:

Cost of living will surely start to affect values in the 0-20k sector. Not so much in the mega money exotics bubble.

PS I’m usually completely wrong!

I'd possibly say the opposite.

There will always be the small time investors and debt junkies able to bottom feed at the lower end of the classic market so surely the 0- 20k sector is more likely to hold up? And possibly become more in demand as people can no longer afford to buy/invest further up the price spectrum?

What about just the normal enthusiast who wants a classic car, like myself.

Been looking for a Karmann Ghia for a while, prices are holding in the £12-20k range (up to £40 for really early models), it’s a fun can purchase with no view to investment nor debt.

Isn’t that what this site is actual about, not all classics are investments, when will people realise that.

[What The Deuces]

Han Solo said:

What about just the normal enthusiast who wants a classic car, like myself.

Been looking for a Karmann Ghia for a while, prices are holding in the 12-20k range (up to 40 for really early models), it’s a fun can purchase with no view to investment nor debt.

Isn’t that what this site is actual about, not all classics are investments, when will people realise that.

I don’t think everyone thinks of classics like an investment but if I stuck £40k into a Karmann Ghia I’d probably want to know I can get it back out again with a reasonable certainty if I need to.