Dear Classic Car enthusiast,
Happy New Year. It’s only a month into 2024 and it’s already looking exciting; we feel different challenges are coming, changing the way we see the classic car market in the future.
We witness the classic car market growing, with more and more events/coffee meetings/small rallies popping up, and of course the online auctions making their digital presence felt forever more.
So how has all this affected the classic car market, or will it affect it in the coming year?
Ever-changing values with every car which does or does not sell at auction, event costs soaring, a lot more unknown so-called experts (and, of course, fraudsters) may unsettle buyers and sellers alike.
It is frustrating seeing values dropping after a vehicle has been sold under its true worth at auction; prices are nowadays plastered all over the internet and that sets the world market figures… or does it?
With the assistance of armchair experts, the world is notified of the sudden downturn of the unfortunate car that did not sell or sold for way under the estimated value. You need to ask yourselves, “Who sets these values”?
We also do not understand the results of online auctions; are the bids always real? Are they really proving what the true value of a classic car is? Are they regulated? If not, why not?
It is so easy to get the owner to write his/her own description of the car and then the responsibility is fully with the seller, if any concerns arise, and not the auction house. Let that sink in…
It's a great shame we have seen the trading between Europe and the UK still suffer with the import/export concerns. This has been a massive part of our business, and we look at all options to get the cars correctly handled, with the relevant and appropriate price. This frustrating exercise has been problematic to say the least, but we do see light at the end of the HMRC tunnel, with changes on the way.
The registration process in the UK and Europe is also a minefield, but again, thankfully, we see changes are on the horizon, so that all-party confusion will dissipate soon.
The restoration business is doing well, but we have seen costs escalate, especially in the price of parts, which some reckon may make car values increase. Or will it? We don’t think so.
If we can assist with imports/exports and/or registrations of classic cars, or if you would like restoration advice or valuations, please do let us know.
Looking forward to buying or selling your classic, or just a chat if you’d like sensible and knowledgeable feedback.
Happy motoring
Keith
keith@classicmobilia.com
+44(0)7889 805432
+44(0)1908 270672
About Keith:
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