Is the classic car markets bubble about to burst....

[bababoom]

Recently been thinking of buying a older fast ford for the past few weeks,
Do you see the market about to take a crash in classic car values in general?
Got me thinking now maybe better to hold off 6 months or so.

[s m]

What car are you thinking of buying in particular? If it’s what you want and you can afford it I shouldn’t worry too much about the market if you’re buying to enjoy driving it
The bubble has been about to burst for years

[bababoom]

Im thinking of a Focus RS MK1 not really as an investment but i like the idea of owning a car that's running costs are offset by its value more than anything else.
Never been a fan of buying cars that are still dropping in value ie anything new'ish.

[hilly10]

I bought my TR6 for strong money but it was one of the nicest out there at the time. Now if I keep it 5 or 6 years and when I sell it it’s a 5k loss it would not worry me, it’s all about the enjoyment I get from it, but it’s comforting to think it will nor incur big losses like buying a new car. Buy it and enjoy it, life’s to short

[moffspeed]

See the modern classics at auction thread....

E types, XK120s, most Ferraris etc are now available at prices that you wouldn't have dreamt of a couple of years ago.

So the bubble is definitely deflating rather than bursting - perhaps (bad news for you) with the exception of older fast Fords !!

[shih tzu faced]

I've been predicting the bubble to burst for the last 5 years and it still hasn't

I'm not really known for my financial astuteness mind you, so I'd do as suggested above... buy what you want, enjoy it and don't worry about the money. You can't take it with you

[s m]

bababoom said:

Im thinking of a Focus RS MK1 not really as an investment but i like the idea of owning a car that's running costs are offset by its value more than anything else.
Never been a fan of buying cars that are still dropping in value ie anything new'ish.

Go for it - you can pick one up for the price of a new ......well .....Up!
Would have thought you wouldn’t lose much on it at that sort of price

[Earthdweller]

If you go to the Coronavirus thread they will tell you that everyone who owns a classic car will be dead in six months

So maybe give it a few weeks

[eccles]

I do like these monthly 'is the bubble about to burst' threads. We've been having them for about 5 years now!

[Mr Tidy]

Not bursting, but going by the prices cars were fetching at the Historics auction at Ascot last weekend prices have dropped.

Even for Fast Fords! A mint, low mileage MK2 RS2000 Escort only made £31,000.

Quite a few lots failed to make their reserves.

[Unsorted]

bababoom said:

Recently been thinking of buying a older fast ford for the past few weeks,
Do you see the market about to take a crash in classic car values in general?
Got me thinking now maybe better to hold off 6 months or so.

I would wait.

[Gio G]

I am sure I saw KGF Classics on social media had a MK1 arriving that had something like 50 miles on the clock! The same seller had all sorts of low mileage ST's as well. God only knows how much that will go for..

G

[s m]

Gio G said:

I am sure I saw KGF Classics on social media had a MK1 arriving that had something like 50 miles on the clock! The same seller had all sorts of low mileage ST's as well. God only knows how much that will go for..

G

They've got a £30k one with 4k miles from new on their site at present too

[redchina]

Unsorted said:

bababoom said:

Recently been thinking of buying a older fast ford for the past few weeks,
Do you see the market about to take a crash in classic car values in general?
Got me thinking now maybe better to hold off 6 months or so.

I would wait.

I think every bubble has the chance of bursting at the moment!

[Peter3442]

If most of the population are staying at home, dealers are going to have a cash flow problem after a month or so and may well be happy to clear some stock at discount prices. The effect should knock to auctions and private sellers. Still, are you buying the car for fun or as an investment? I'd edge towards fun and, so long as you can afford it, not worry too much about the £££.

[V8fan]

The H+H classic is running at the moment. Looks like less than a quarter of them are actually selling outright, but a lot of provisional bids are being accepted, some way under the guide. Reality seen by sellers probably:

https://live.handh.co.uk/auctions/live-sale/id/14

All bidding is remote, phone or online, nobody allowed in sale room!

Edited by V8fan on Wednesday 18th March 15:34

[Unsorted]

Looks carnage. Probably predictable in circumstances. To save people looking majority unsold.

[Unsorted]

Being old enough to remember previous corrections in car prices, I believe we have now moved from a slow car asset bubble correction, to the I am lucky to get a bid for my car scenario. Prices, I believe, will be falling in some style.

Posted by someone who has more experience than most in losing money on cars.

Edited by Unsorted on Wednesday 18th March 17:55

[Longnose]

I spent a chunk of the afternoon watching it live on the internet. With a few exceptions the selling price seemed to be about 75% to 80% of the low estimate.

[Kickstart]

The bonhams auction is still going head on the 22/3 (as far as I know) and that would be another barometer of the market

Personally unless one is really pressed now is not the time to be selling a classic/race car