values cooling?
Discussion
I think at the moment things are hard to read, and highly variable, depending upon the sector, but my interpretation would be that there is definitely some cooling.
There are lot of high asking prices that are not necessarily translating into sales.
Quite a lot of modern stuff - eg 1980s-00s classics - which have enjoyed some of the most rapid appreciation recently, seem to be languishing unsold at many of the dealers I keep an eye on. As well as the emerging economic situation, things like ULEZ could also make a difference if using a non exempt classic on a regular basis.
I think many people are waiting for clarity in terms of how expensive things are going to get generally, and this caution is bound to feed into discretionary spending, at least in the short term.
There are lot of high asking prices that are not necessarily translating into sales.
Quite a lot of modern stuff - eg 1980s-00s classics - which have enjoyed some of the most rapid appreciation recently, seem to be languishing unsold at many of the dealers I keep an eye on. As well as the emerging economic situation, things like ULEZ could also make a difference if using a non exempt classic on a regular basis.
I think many people are waiting for clarity in terms of how expensive things are going to get generally, and this caution is bound to feed into discretionary spending, at least in the short term.
The Historics auction at Ascot today seemed to have a lot of 'no sales.' Classic auctions usually get 70% plus sales but I think it struggled today.
Only 4 of the 11 Porsches, for example, sold. I know the 2001 996 only reached about £9k, not enough for the vendor to accept:
https://www.historics.co.uk/buying/auctions/2022-0...
Only 4 of the 11 Porsches, for example, sold. I know the 2001 996 only reached about £9k, not enough for the vendor to accept:
https://www.historics.co.uk/buying/auctions/2022-0...
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!
As unfortunately one of the "senior" members here, if history is anything to go by you are wrong. But then many of you never lived through the horrendous period of the seventies when inflation was at 26% I guess. Holding cash was useless, so people bought perhaps a car because it would be worth more in a month or two. Anything to help stave off the effects of this inflation bubble. I remember going into the supermarket and looking at the cans at the back of the shelf because they were cheaper than those restocked yesterday. But then again, we had interest rates in double figures so it isn't the same today. Overall, I can't get used to a nearly-new car still in production being worth more than a new one, or an every-day product such as a watch being double the price of a new one. As I've said before, is it time to invest in tulip bulbs?PS I’m usually completely wrong!
Stuart70 said:
I was at the historics auction yesterday.
That little fiat was gorgeous and way under valued.
Landies and upper end were making money. Other stuff there was no money in the room.
Buy it, run it, love it. Don’t invest in it. But that is just my view…
I see some bidders still have the ability to lose their s**t over a 'fast Ford' though. £20k for an XR2 Mk1? That little fiat was gorgeous and way under valued.
Landies and upper end were making money. Other stuff there was no money in the room.
Buy it, run it, love it. Don’t invest in it. But that is just my view…
https://www.historics.co.uk/buying/auctions/2022-0...
sixor8 said:
Stuart70 said:
I was at the historics auction yesterday.
That little fiat was gorgeous and way under valued.
Landies and upper end were making money. Other stuff there was no money in the room.
Buy it, run it, love it. Don’t invest in it. But that is just my view…
I see some bidders still have the ability to lose their s**t over a 'fast Ford' though. 20k for an XR2 Mk1? That little fiat was gorgeous and way under valued.
Landies and upper end were making money. Other stuff there was no money in the room.
Buy it, run it, love it. Don’t invest in it. But that is just my view…
https://www.historics.co.uk/buying/auctions/2022-0...
Even more surprising was the mk1 Astra GTE.
They were never loved at the time, but made £19k!!
lowdrag 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!
As unfortunately one of the "senior" members here, if history is anything to go by you are wrong…PS I’m usually completely wrong!
My track record in this field is truly abysmal. 2010-2016 values quickly rising with the odd startling headline record auction result. This will come crashing down soon I thought. Wrong.
2016-2020 Post Brexit era, prices continuing to rise, tv shows like Bangers & Cash adding fuel to the fire, classic car mags getting all excited, surely the bubble will burst any minute I said. Wrong again.
2020-2021 Covid, lockdowns, uncertainty, surely this global catastrophe will see the end of the madness I confidently predicted. And.., wrong again.
2022 War in Ukraine, energy prices soaring, recession looks imminent, cost of living squeeze, petrol price at record high etc. My guess; prices of classics will start to fall. But as you can see my financial investment advice on the classic car market is absolute crap and probably best ignored
As has been said many times (including by me, getting it right for once), buy what you want, for the right reasons, use it, enjoy it, love it and forget about the money side. You’re only here once and you can’t take it with you.
I took the TR6 to a local Church who were raising money for the Church Hall roof it had a surprisingly good turnout with a lot of nice cars and some interesting people. The buzz I get when people come to look and photograph the cars, also chat and pass comments how nice my car was.
While I was there a guy from CCA asked me if I was interested in selling my car, I of course declined. He then said how hard it was of late that most owners are so emotionally attached it’s getting difficult to fill the auction, he still dropped his business card on the dash.
While I was there a guy from CCA asked me if I was interested in selling my car, I of course declined. He then said how hard it was of late that most owners are so emotionally attached it’s getting difficult to fill the auction, he still dropped his business card on the dash.
hilly10 said:
I took the TR6 to a local Church who were raising money for the Church Hall roof it had a surprisingly good turnout with a lot of nice cars and some interesting people. The buzz I get when people come to look and photograph the cars, also chat and pass comments how nice my car was.
While I was there a guy from CCA asked me if I was interested in selling my car, I of course declined. He then said how hard it was of late that most owners are so emotionally attached it’s getting difficult to fill the auction, he still dropped his business card on the dash.
I hardly ever do it these days. It seems to me that the first question is nowadays "What's it worf mister" which turns me right off. Either that or I reply £50 or £500,000. Both seem to have the desired effect, whereas "Nothing - it isn't for sale" gets rude answers. Sod 'em all.While I was there a guy from CCA asked me if I was interested in selling my car, I of course declined. He then said how hard it was of late that most owners are so emotionally attached it’s getting difficult to fill the auction, he still dropped his business card on the dash.
Stuart70 said:
Buy it, run it, love it. Don’t invest in it. But that is just my view…
If only everyone could think like this and not just the classic car buyer. Driving for me has always been about enjoyment, away from the every day routine. I took one of mine out over the weekend, weather was good, I came home with a huge smile on my face.
I’m about to start restoring an E-Type, I can guarantee there won’t be any profit, but if it’s ready for the wife’s fiftieth in two years it will be well worth it.
You’re a long time dead.
To put my original post into context, I have no interest in making an investment and aside from some rare exotica, I despise the idea of cars being hidden away in a carcoon, purely to watch them appreciate in value. My interest is that I'm looking to buy something to use, but I don't want to sink too much into something because, as with many other things, prices seem high. I do see them coming down over the next year because we are all feeling the pinch.
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)
I was wondering this - just picked up an Austin A35 with 8,027 miles on the clock, never had any welding (been all over/under it on the ramp) so mileage looks genuine, paid £6k for it. And yet, dealers/lunatics are still asking up to and over £10k for cars that even from pictures you can see the panel gaps are s
t/panels are rippled and full of filler 
I do wonder if values will cool as the baby boomer generation age. Yes, they endured high interest rates, but they've also generally benefitted from rising housing prices and decent pensions.
Take my dad, he's about 73 and currently has a Singer Roadster and a Karmann Ghia. He's selling the Singer soon, as he finds it increasingly hard to drive- not so much that he physically cant, but hes just less young, and less able- if that makes sense?
I suspect that there will be lots of older gents selling their cars in the next 5-10 years. Perhaps the younger generation of 50+ year olds who get to the stage of life of having spare cash will buy them, although it seems to me that interest in cars generally is falling. Or is that just the cycle thats always applied to the classic car market?
Take my dad, he's about 73 and currently has a Singer Roadster and a Karmann Ghia. He's selling the Singer soon, as he finds it increasingly hard to drive- not so much that he physically cant, but hes just less young, and less able- if that makes sense?
I suspect that there will be lots of older gents selling their cars in the next 5-10 years. Perhaps the younger generation of 50+ year olds who get to the stage of life of having spare cash will buy them, although it seems to me that interest in cars generally is falling. Or is that just the cycle thats always applied to the classic car market?
covmutley said:
Take my dad, he's about 73 and currently has a Singer Roadster and a Karmann Ghia. He's selling the Singer soon, as he finds it increasingly hard to drive- not so much that he physically cant, but hes just less young, and less able- if that makes sense?
about 73? Don’t you know his birthday?Gassing Station | Classic Cars and Yesterday's Heroes | Top of Page | What's New | My Stuff