E46 M3 CSL and others falling in price....

E46 M3 CSL and others falling in price....

Author
Discussion

jonah35

Original Poster:

3,940 posts

156 months

Friday 23rd June 2017
quotequote all
The M3 CSL has definitely fallen in price in the past few months and various other cars (Ferrari 360 etc) have followed suit.

Some cars eg Z3 M coupe are taking longer to sell now too.

I appreciate some cars are still rising in value but the froth has certainly come off and prices are coming down - 3dr cosworths have also flatlined for a while.

Is tgis the start of things steadily falling?

VonSenger

2,465 posts

188 months

Friday 23rd June 2017
quotequote all
I agree. Ive also noticed a slight softening ans stuff hanging around longer. i saw a delivery mileage, RHD, 991 GT3RS for £209k. Unheard of beginning of last year.

Welshbeef

49,633 posts

197 months

Friday 23rd June 2017
quotequote all
Bizarre really our cars have taken a hit currency wise so even without moving they would represent a good deal to a foreign buyer - compound that with value decreases then it's very troublesome.

anonymous-user

53 months

Friday 23rd June 2017
quotequote all
COME ON 997 GT3 MK2!!!!

VonSenger

2,465 posts

188 months

Friday 23rd June 2017
quotequote all
Lol. Let's hope and pray.

Adz The Rat

13,949 posts

208 months

Friday 23rd June 2017
quotequote all
I think a lot of cars put up at silly prices have been SOR and so the price has been dictated by the client. Now they aren't selling they are having to reduce them bit by bit to sensible levels.

Welshbeef

49,633 posts

197 months

Friday 23rd June 2017
quotequote all
Adz The Rat said:
I think a lot of cars put up at silly prices have been SOR and so the price has been dictated by the client. Now they aren't selling they are having to reduce them bit by bit to sensible levels.
Interesting times.

Might there be much more difficulty in taking a RHD UK car into Europe post Brexit? As such the market for U.K. Cars has reduced?

LittleBigPlanet

1,115 posts

140 months

Friday 23rd June 2017
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Although not the same class as the above, I always have kept my eye on Clio V6 prices and they've stalled (and fallen) in recent months too. Many that have been for sale for a little while now show "POA" suggesting that the price is open to negotiation/the seller doesn't want their advert to appear 'expensive' compared with others as they alter prices.

tejr

3,101 posts

163 months

Friday 23rd June 2017
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I thought the big money Porsche's were all LHD anyway.. I guess cause there is demand from Europe.. The RHD stuff will probably hang around unless its rare UKDM or JDM stuff..

Also, with things like the Z3M, I was looking at them a couple months back and also though the prices on them had dropped, but its mainly the ropey high mile ones that are sitting around.. The good stuff seems to have been bought up and stuffed in a heated garage somewhere.

VonSenger

2,465 posts

188 months

Saturday 24th June 2017
quotequote all
I was talking to a friend of mine yesterday who works in the finance/banking space and understands investment products etc much more than i do.

He explained it very simply. No money in savings due to interest rates being low. So people have used cars as investments.

Pretty obvious really but the real surprise for me was the description of how it will unwind and how quickly it will affect the market.

As interest rates begin to rise, which is highly likely next year given the 3 to 5 vote at the BoE, people slowly start to get out at the top. This will see a slow in sales and an abundance of stock.

Great news i say. This wave of silly priced cars has really alienated real car fans.

Welshbeef

49,633 posts

197 months

Saturday 24th June 2017
quotequote all
VonSenger said:
I was talking to a friend of mine yesterday who works in the finance/banking space and understands investment products etc much more than i do.

He explained it very simply. No money in savings due to interest rates being low. So people have used cars as investments.

Pretty obvious really but the real surprise for me was the description of how it will unwind and how quickly it will affect the market.

As interest rates begin to rise, which is highly likely next year given the 3 to 5 vote at the BoE, people slowly start to get out at the top. This will see a slow in sales and an abundance of stock.

Great news i say. This wave of silly priced cars has really alienated real car fans.
Who will get caught out when the tide goes out and you've been skinny dipping. Nowhere to hide and a whopping demolition of cars value.

VonSenger

2,465 posts

188 months

Saturday 24th June 2017
quotequote all
Agree. Maybe not for 3 years or so but it's coming. It's sad to admit it but most interesting stuff has attracted individuals who are using it as an asset.

The problem i think will hit the bottom and top end of the market first. Those who are astute investors and those who can't afford to lose much if any money wanting to get out quick.

Cant wait personally, its all a bit ridiculous now.

Whilst speaking to my pal yesterday he showed me a gen 2 gt3, stunning with 16k on the clock. Its for sale at 109k and has sat for a while. That, in the current climate, is relatively cheap.
Bonkers.

jonah35

Original Poster:

3,940 posts

156 months

Saturday 24th June 2017
quotequote all
Also you wouldn't have been able to buy an m3 csl a year or two ago as none (or very few) were on the market and now the market is littered with them which tells me what I need to know

Once the tide changes I feel values of some cars will drop like a stone

Interesting gauging others thoughts

jonah35

Original Poster:

3,940 posts

156 months

Saturday 24th June 2017
quotequote all
It's been musical chairs and the music is about to stop.

Someone will end up owning a testarossa they've paid £200k for that drops like a hot potato. No big deal if you are worth £10m but if you've used your life savings to buy it then it will be a kicker.

VonSenger

2,465 posts

188 months

Saturday 24th June 2017
quotequote all
When i bought my track car it wasn't running. I got a chap off tinternet to collect it for me. When he arrived he was a lovely chap and we got speaking. He showed me pictures of his collection, mostly mint old Ford stuff. He said he'd decided against a pension as he has a degenerative disease and the collection is his pension which he'll cash in soon and enjoy his short retirement.
It's people like him i feel sorry for if he gets caught out.

Welshbeef

49,633 posts

197 months

Saturday 24th June 2017
quotequote all
jonah35 said:
Also you wouldn't have been able to buy an m3 csl a year or two ago as none (or very few) were on the market and now the market is littered with them which tells me what I need to know

Once the tide changes I feel values of some cars will drop like a stone

Interesting gauging others thoughts
As a different point

The Telegraph/times had an article a few years ago about classic cars and guaranteed ones that will go up... E46 M3 CSL. It's possible some of those now want a change?

LP670

819 posts

125 months

Saturday 24th June 2017
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A market crash cant come soon enough as far as im concerned, mainly because im sick of hearing people talking about cars as an investment rather than the enjoyment they give.

Earthdweller

13,435 posts

125 months

Saturday 24th June 2017
quotequote all
Welshbeef said:
Adz The Rat said:
I think a lot of cars put up at silly prices have been SOR and so the price has been dictated by the client. Now they aren't selling they are having to reduce them bit by bit to sensible levels.
Interesting times.

Might there be much more difficulty in taking a RHD UK car into Europe post Brexit? As such the market for U.K. Cars has reduced?
Certainly the export of U.K. Cars to the ROI is booming at the moment

I read somewhere recently nearly 40k personal imports of used cars into the republic already this year

I'm sending a 7 month old Astra over tomorrow for my sister in law .. massive saving for her against an Irish reg one

Made even more so by the exchange rate

Welshbeef

49,633 posts

197 months

Saturday 24th June 2017
quotequote all
VonSenger said:
When i bought my track car it wasn't running. I got a chap off tinternet to collect it for me. When he arrived he was a lovely chap and we got speaking. He showed me pictures of his collection, mostly mint old Ford stuff. He said he'd decided against a pension as he has a degenerative disease and the collection is his pension which he'll cash in soon and enjoy his short retirement.
It's people like him i feel sorry for if he gets caught out.
That will be tough on him possibly but he knows the risks. Conversly if they make a fortune would you be complaining about Mr Bloggs down the road with her defined contribution pension being pants?

Yipper

5,964 posts

89 months

Saturday 24th June 2017
quotequote all
Select parts of the UK car market have been rising in price since ~2011, so it is no surprise to see some models taking a breather after ~6 years of upswing.

What's more, the US / UK stockmarkets are peaking, and UK interest rates are about to rise in the next few weeks.

The question now is whether cars have become like the housing market. Pause for a year or two, and then start rising again after Brexit talks are done.