Dear Classic Car Enthusiast
There is NEVER a dull moment in the classic car world; it may even be made amusing by the armchair experts reporting one auction’s results and extrapolating current trends from that one set of data (therefore getting it totally wrong).
It is, as always, an exciting world out there, and it keeps changing.
As we don’t suffer from tunnel vision (see above), this last month we have witnessed a range of interesting auctions with some surprising and varied results.
Who would have guessed a large number of Ferraris selling with no reserve would ‘explode’ a series of discussions and still not affect the Ferrari market itself? That’s a mature attitude towards the classic car market’s delicate balance that we know so well.
Later on in the month, we did clock a Ferrari record: some critics may still say it should have gone for more, but did we all think that?
We also had the customary pleasure of seeing so many modern classics cross the blocks at the Classic Motor Show in Birmingham, which was as busy as always. The numbers prove the market is still strong, if a little ‘soft’.
Bringing up the rear of this busy November was a fine array of good quality classics doing well in Germany despite the weather. So, it is not just a British thing, now!
Glamorous and famous people turned up to support the last F1 race of the year, which was an interesting one managing to get some good results.
Whilst classic car shows are always well attended, this time they just lacked a little sparkle, perhaps due to the impending winter gloom but purchases were still made, and dealers still felt encouraged.
Reports in the press are mentioning that sales are down, and prices are falling. We can all make excuses for softening prices, but if you look around, major players are still moving stock and even if you do not read of the ones going under the radar, it doesn’t mean they are not happening, and with frightening regularity.
Not everyone likes to advertise to the world a special car’s ownership changing; we would go as far as saying that the last people you inform is the press!
As ever, we do not tire of warning punters about the ubiquitous online auctions popping up like jack-in-the-boxes and sometimes with the same degree of seriousness.
Just be careful, we have uncovered some prime examples with very chequered background and sparse documents. Make sure all boxes are ticked before making that final move.
Although we are seeing a lot of bargains around, they ought to be investigated even more thoroughly than other sales to make sure there are no hidden surprises.
If you are looking to sell your classic, exploring the option of a new purchase or considering a restoration, we are here with some friendly advice and/or assistance, so please do let us know.