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 Classicmobilia E'News

Classicmobilia E News Issue 85, July 2017

Classicmobilia E’News Issue 85 July 2017

Dear Classic Car Enthusiast,

The last month in the classic car world has been witness to an unusual storm of mixed emotions.

A number of auctions have taken a flat line, with some mixed results; the barometer of the industry has unsettled dealers, who in turn have started to question the state of the market.

In other words, as the future is forecast on the basis of how auction houses perform, as well as the number of non-sales, this would have been confusing enough, However, considering the lots on offer, we would have to admit that things are not looking good for other reasons too.

The cars on offer recently have had a story to tell; when their history is very cloudy, retail purchasers do their homework and do not buy from the heart. Studding the history and understanding the current market place is what makes purchases worthwhile.

Many cars coming to auction do the rounds and are criticised for their downfalls; of course, once the car has been to auction and failed to sell, it is “burnt”, tarnished by its inability to find a new owner. The wider audience will know about its existence for the wrong reasons, and have concerns about it that would never have materialised had the car been sold in the first place.

We are seeing fewer high-value cars starring at auctions to pull in the crowds. At the same time, a lot more “no reserve” cars come to the floor taking over the function of attracting buyers. One would be wise to remember the auctioneer can bid the cars up to the reserve, if there is one.

Far more cars than before are now being advertised and sold under the radar: they will be the cars of higher value, good history or major event winners. This says a lot about the market, the value attached to genuine lots, and who the movers and shakers are.

The big question is now “what is the state of the market?” 

With so much outside influence from politics, money market fluctuations and world leaders’ strategies, we see big collectors keeping their powder dry and just sitting tight. This then ripples down to the lower end of the market and the press reports on the market taking a dive.

Look at the classic car events recently: they are sell-outs.

As we have just returned from Italy, we have noticed great support for the famous 90th Mille Miglia. Entry to next year’s event will be even harder. Only cars with the right history and background will have a chance.

If you need assistance with buying selling or entering a classic events, please do let us know and we will try to accommodate you.

Happy motoring


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