RichardHyde wrote: ↑Mon Aug 05, 2019 3:54 pm
I’m not talking down the value of the cars, I commenting on the market. Search for completed auctions on eBay :-
12 didn’t meet their reserve
Green one advertised elsewhere at 2,500 went for 1,040 on eBay
Others sold for 1070, 495, 1200, 2100, 4069 (seller wanted 6k), 2310, 2500, 1120
Not a strong market for sellers at the moment.
I'm definitely seeing this in the classic car market at the moment as a whole.
I have seen there tends to be two lulls and two peaks while tracking over the last few years. First peak is late Sept/Oct/Nov where people are buying their winter projects and by Dec/Jan the market is dead. Next peak is late Feb/Mar/Apr/Jun where people are buying their summer toys as the weather gets nicer. However Jul/Aug/Sept the market goes utterly dead due to school holidays and Dec/Jan is dead due to Christmas and no disposable money.
However right now, I've seen stuff sitting around longer. Bargains still sell and the desirable stuff still moves at the right price but the classic car market has definitely slowed down.
Of course other markets are slowing down whether its housing or the retail sector. Why this and what this means is obviously a much wider question and a subject well past a car forum!
What we don't want is a big market drop. Classic cars are treated either as toys and investments. If the economy goes down the pan (be it UK or World), these tend to be the things that loose value quite quickly. But then there are a lot less of our cars around than there has been before, due to natural attrition.
It could do with a price leveling off but what we don't want is the value of these cars to fall. They are already near the bottom of the classic car market and if they do fall, they become at risk of becoming general fodder again. If this happens, we are at risk of many being driven into the ground, not looked after and bodged as they aren't worth a lot. By staying as something moderately valuable, generally people seem more inclined to look after something more, as they have more invested into it.
Current Heaps: 1968 Austin 1100, 1974 Dolomite Sprint, 1974 MGB GT, 1985 BMW E28 520i, 2000 Porsche Boxster, 2002 Clio 172 and a boring 2010 Audi A4 that keeps the wife happy!
