Dear Classic Car Enthusiast
The headlines
“The classic car market is currently experiencing significant growth, with prices continuing to rise since 2005. High-net-worth individuals and collectors are investing more in classic cars as collectibles, with some even purchasing them purely for investment purposes.” This is what, by and large, the UK media keeps saying, but is it correct?
The markets
According to some sources, the next best classic car choice, as an investment, is the ‘modern classic’ selection from the 1980s and 1990s. As always, and specifically when it comes to classic cars, time will tell, but the market has not really slowed down, and a lot of good classics are holding their own regardless of timelines.
The UK and Europe classic car markets are known for being some of the largest and most vibrant in the world; our landscape includes a wide range of classic cars, from iconic British sports cars such as the Jaguar E-Type and Aston Martin DB5 to Italian supercars like the Ferrari 250 GT and Lamborghini Miura, but currently the US market is gathering pace and showing growth in values. We have also seen the Australian market move upwards, even with the massive import tax.
Why are we seeing real specialist cars doing well? Long may it continue, of course, but it is worth noting that classic car values are heavily influenced by many factors, including rarity, condition, and historical significance. As with any investment, it's important to do your research and seek professional advice before making any decisions.
The events
There are many classic car events and rallies held each year throughout the UK and Europe, celebrating the beauty and heritage of classic cars. These events draw thousands of enthusiasts from around the world and provide an opportunity to share stories, admire some of the finest automobiles ever made, and sell or buy classic cars.
Having just returned from Essen Techno Classic, which is picking up steam since 2020, our thoughts are that the event is still something to attend, but there was something missing: among others, “the Brit contingent” absence
was noticeable, but Essen did clash with the Goodwood Members’ meeting and the splendid Tour Auto, of course.
Brexit
Overall, the UK and European classic car market is still suffering slightly after Brexit, but it’s still a lively and exciting place for car enthusiasts and investors alike, with a rich history and a bright future ahead.
The auctions
What about the auction scene? Well, that is still growing all over the world, it’s a real unknown quantity (and quality!), with so many auctions being held online. How on earth are classic car values set within such a mishmash of results? We shall never know if the online temperature is the correct one, so stick to the real values and NOT unknown results. ‘Nuff said.
Just be careful: with any auction, if you are not sure… just ask a specialist.
If you need assistance with buying, selling, are thinking of a restoration, or just want an unbiased, true picture of the market, let us know as we are here to assist.
Look forward to meeting up at the coming events.
Happy motoring.
Keith
keith@classicmobilia.com
+44(0)7889 805432
+44(0)1908 270672
About Keith:
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