values cooling?
Discussion
stevemcs said:
Some of the Silverstone cars went for daft money, 105k for a Lancia ? 65k for a Mini ? the Fords as usual seem to have done well, some of the Porsches and BMW's not so.
Although cars like that have gone for much more not so long ago Didn’t an Integrale fetch nearly a quarter of a mill not long back and a Mini 100k
The way I see it is that most people have a white goods car and if they want a classic for high days and holidays then they'll probably want something sporty and interesting, perhaps a convertible if the car will only come out on sunny days. That's why something like an old French saloon will have limited interest outside of the owners' club. You also have a diminishing number of buyers able to perform even routine maintenance on their cars so they want reliability.
Big increases in some areas have encouraged sellers of old tat to try and jump on the bandwagon but there's some belt tightening going on now which will only increase when the winter bills start coming in. A look at a site like collecting cars will show you there's still plenty of interest in more unusual cars in good condition. Ratty old rust buckets that have sat in someone's front garden for the last couple of years, less so. More and more of the latter will be heading to the scrapper, not someone's collection.
Big increases in some areas have encouraged sellers of old tat to try and jump on the bandwagon but there's some belt tightening going on now which will only increase when the winter bills start coming in. A look at a site like collecting cars will show you there's still plenty of interest in more unusual cars in good condition. Ratty old rust buckets that have sat in someone's front garden for the last couple of years, less so. More and more of the latter will be heading to the scrapper, not someone's collection.
Excuse me, but I think I need new glasses. A 1962 E-type failed to sell but is still available at £432,000, along with an LHD outside lock car at £202,000? And a P5 Rover sells for £47,000? And I thought - and have written - that the market was on the way down. Where's my hat - I think I should eat it.
lowdrag said:
Excuse me, but I think I need new glasses. A 1962 E-type failed to sell but is still available at £432,000, along with an LHD outside lock car at £202,000? And a P5 Rover sells for £47,000? And I thought - and have written - that the market was on the way down. Where's my hat - I think I should eat it.
And Mike Hailwood's Iso Grifo, that he destroyed in South Africa as a result of a high speed argument with a large cow sold for just over 300k.....Two Sierra RS500's both sold for undisclosed amounts.........so that will be 'lots' then.......(likely well north of 100k most probably)
And yet one of only 30 odd Jag XK150S roadsters sold for just over 100k.....which must be well down on what one of those would have sold for 10 years ago??
As regards the XK150S, it was a 3.4 of which more were made than the "holy grail", the 3.8S RHD drophead. Bonhams laughingly estimated this car at £15/25,000 and it sold for a whopping £90,000, and to most people that seems suicidal. What they don't know is that the last one I could trace sold was five years ago at £360,000 so a substantial profit in view, especially since purely coincidentally an XK150S chassis was for sale in the same auction. 104 of of this car's specification were made. But as you rightly say, it was very cheap just the same.
Edited by lowdrag on Tuesday 7th June 10:08
POORCARDEALER said:
Interest in the more mundane 50s saloons is way down, as is pre war stuff , as a dealer friend said to me “ nostalgia is everything in this market and those nostalgic for pre war stuff are generally dead “!
Yeah, you have to just look at that Sillystone Auction last week and that lovely patina '38 Bentley that sold for just 50k.POORCARDEALER said:
Interest in the more mundane 50s saloons is way down, as is pre war stuff , as a dealer friend said to me “ nostalgia is everything in this market and those nostalgic for pre war stuff are generally dead “!
Very much this. Before long it will be post war stuff as well. Most millennials wouldn't look twice at anything built before 1970. You can apply the test to yourself. Ask yourself what cars you like and would buy if you could and then look at the age of those cars. Very few on here will care about much pre 60s.There are always exceptions but for a big chunk of buyers they'll lust after stuff they liked when they were kids or cars they couldn't afford when they started driving. Then there are the gamers. That's a rich vein.
Unreal said:
POORCARDEALER said:
Interest in the more mundane 50s saloons is way down, as is pre war stuff , as a dealer friend said to me “ nostalgia is everything in this market and those nostalgic for pre war stuff are generally dead “!
Very much this. Before long it will be post war stuff as well. Most millennials wouldn't look twice at anything built before 1970. You can apply the test to yourself. Ask yourself what cars you like and would buy if you could and then look at the age of those cars. Very few on here will care about much pre 60s.There are always exceptions but for a big chunk of buyers they'll lust after stuff they liked when they were kids or cars they couldn't afford when they started driving. Then there are the gamers. That's a rich vein.
But I found that E-Types really feel a bit too modern for me when it comes to a classic car to drive, I didn't find them sufficiently different to more modern stuff. I bought an XK150 precisely because it felt more antiquated and preferred it on cross-plies and with the original Moss box. I wanted the feeling of driving something altogether different to a modern daily. I'd love a pre-war car, I'd love to have a nice Alvis. It would be completely different to drive than my XKR or XJ6.
I'm prepared to accept that I might be in a minority.
lowdrag said:
The car that I have always wanted to own is an Invicta Low chassis, but it has always been just out of reach, and now only a passing dream. I'd sell the XKSS and the E-type to have one if I could.
OK I was trying not to be too greedy. I'd not say not to a V12 Lagonda either This would look good in the garage
https://www.classicdriver.com/en/car/lagonda/v12/1...
I'm currently keeping my eye on 205 CTi and GTi's in the £4-10k range and alot of the cars I have seen coming onto the market in the last 4-6 weeks have been sat around / reduced a fair amount before selling. The only exception to this is very low owner / low mileage / refurbished examples, but even they don't appear to be quite fetching what they were 6-12 months ago....certainly in this little world, the market has cooled.
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