Classic Car Market In Overdrive

Aston Martin V8 Volante

Classicmobilia E News Issue 138 July 2022

Dear Classic Car Enthusiast,

Just when we thought the busy period was over, telephones and emails started ringing and pinging again. What amazing few weeks these have been, and now we look forward to the crazy month of August in Monterey, Carmel, Pebble Beach and surrounding areas of California; one just enjoys the drive down the coastal road from San Francisco to the various events and then onwards to Los Angeles for the flight back. The only let-down is the necessary mode of modern transport, instead of an open top classic! Never mind.

Has July been a successful month? Well, the jury is out on that one. There’s been such a mixed bag of feedback: some dealers are doing well and others have gone very quiet.

Repair shops have been enjoying an influx of work, and long may it last, although this has caused a number of concerns with people wanting work carried out, as all of a sudden there is a shortage of good classic car technicians (nothing to do with Brexit or Covid, for once!).

There is still a clear message that only good cars with supporting history are selling through the dealer network, so could this be the reason we are witnessing an ever-larger number of mediocre cars going to auction and even more through on-line auctions?

What is selling (and how much for) is what matters: it’s all very well for some ‘armchair experts’ just to follow on-line auction results, as if that were the only homework one needs… but then they feel entitled to make statements that certain cars are going down in value.

Values and market trends must be the hardest area to predict; appraisal of cars can be tricky as two seemingly similar cars can be far apart in terms of value for many reasons. All one knows for sure is that mass-produced cars do not elicit the same speculation.

Yes, we can get a ballpark figure, but the ballpark is getting bigger.

All of the above is without taking into account the differences among UK, Europe and USA markets. Outside of the UK things seem to be more solid, at the present time, and the currency fluctuation also has a knock-on effect, causing ripples in value terms.

What does this really mean, when buying or selling a classic car today? A question asked so very often!

The only way really to judge what a car is worth is to look at the average car for sale; yes, look at the auctions, but do not use that as a true benchmark, as the most important factor is to have the car checked over and thoroughly go through its history. Even, if possible, talk to past owners, as it is always nice for both parties to have that discussion, though perhaps not for the dealer selling the car.

If you are looking to buy, sell, restore, import or export a classic car and you need some uncomplicated advice or guidance, we would be delighted to assist wherever we can.

Happy motoring and keep safe.


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PS:Cars for sale not advertised.

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