RE: Silverstone Auctions Race Retro preview
Discussion
Is it just me or has the market reached breaking point! if the Cossie made £85k last time and the buyer paid the buyers premium and it only makes the same at the hammer as last time but the now seller has to pay the sellers premium, then it has lost money!
As said these cars all need to remain low mileage (undriven) to retain value and serviced, kept in a humidity controlled environment and insured. So to the amateur investor I cant see they make sense.
If you are car nut and want to drive a piece of motoring heritage I can understand the pleasure of doing so and a constantly maintained driven example of a car with typical period enhancements is much more what I would want. (thinking Alfa rally Giulia Sprint GT). But as it would be used I have a maximum figure in my head its worth.
I remember when the 1980's boom in classic cars ended in a huge crash as property prices also tanked, with only true classics maintaining their value and even then they took a hair cut to the detriment of investors (think Lord Brocket and his Ferrari/Maserati car collection insurance fraud). The question is who will be the last one in the Ponzi scheme of pseudo classic cars and who will have to sell at a loss. After houses cars are probably the next biggest commitment which is difficult to sell quickly.
As said these cars all need to remain low mileage (undriven) to retain value and serviced, kept in a humidity controlled environment and insured. So to the amateur investor I cant see they make sense.
If you are car nut and want to drive a piece of motoring heritage I can understand the pleasure of doing so and a constantly maintained driven example of a car with typical period enhancements is much more what I would want. (thinking Alfa rally Giulia Sprint GT). But as it would be used I have a maximum figure in my head its worth.
I remember when the 1980's boom in classic cars ended in a huge crash as property prices also tanked, with only true classics maintaining their value and even then they took a hair cut to the detriment of investors (think Lord Brocket and his Ferrari/Maserati car collection insurance fraud). The question is who will be the last one in the Ponzi scheme of pseudo classic cars and who will have to sell at a loss. After houses cars are probably the next biggest commitment which is difficult to sell quickly.
powerstans said:
Is it just me or has the market reached breaking point! if the Cossie made £85k last time and the buyer paid the buyers premium and it only makes the same at the hammer as last time but the now seller has to pay the sellers premium, then it has lost money!
As said these cars all need to remain low mileage (undriven) to retain value and serviced, kept in a humidity controlled environment and insured. So to the amateur investor I cant see they make sense.
If you are car nut and want to drive a piece of motoring heritage I can understand the pleasure of doing so and a constantly maintained driven example of a car with typical period enhancements is much more what I would want. (thinking Alfa rally Giulia Sprint GT). But as it would be used I have a maximum figure in my head its worth.
I remember when the 1980's boom in classic cars ended in a huge crash as property prices also tanked, with only true classics maintaining their value and even then they took a hair cut to the detriment of investors (think Lord Brocket and his Ferrari/Maserati car collection insurance fraud). The question is who will be the last one in the Ponzi scheme of pseudo classic cars and who will have to sell at a loss. After houses cars are probably the next biggest commitment which is difficult to sell quickly.
I'm hoping for a crash in the market soon. Would be nice to see the Saph Cossie below £10k again. As said these cars all need to remain low mileage (undriven) to retain value and serviced, kept in a humidity controlled environment and insured. So to the amateur investor I cant see they make sense.
If you are car nut and want to drive a piece of motoring heritage I can understand the pleasure of doing so and a constantly maintained driven example of a car with typical period enhancements is much more what I would want. (thinking Alfa rally Giulia Sprint GT). But as it would be used I have a maximum figure in my head its worth.
I remember when the 1980's boom in classic cars ended in a huge crash as property prices also tanked, with only true classics maintaining their value and even then they took a hair cut to the detriment of investors (think Lord Brocket and his Ferrari/Maserati car collection insurance fraud). The question is who will be the last one in the Ponzi scheme of pseudo classic cars and who will have to sell at a loss. After houses cars are probably the next biggest commitment which is difficult to sell quickly.
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