Classicmobilia E'News Issue 145 February 2023
Dear Classic Car Enthusiast
Rétromobile Paris 2023: the event was definitely a curtain-raiser.
It really set the ball rolling for the classic car world and how it's going to continue. It has re-established itself as the collector car trade show of the year when dealers, collectors and enthusiasts from all over the world convene in Paris to see how the market will progress for the rest of 2023..
Early indications suggest that the coming year looks exciting.
Along with a razzamatazz of the stage shows on display. the three big European auction houses were on fire, putting on a show to remember. Was it a case of who could sell the most cars, or who could sell the highest value or even… host at the best venue?
The results, in the end, show if they got it right: are the buyers getting wiser to the over-stocking and under-valuing auction halls? It is quite clear buyers are becoming more sensible when bidding on cars at auction and that is proven by the way estimates are being calculated - from what, by who, previous auction results, the car’s history or condition?
I have to say, from what we witnessed in Paris, none of the above! Let’s hope the crystal ball is kept well-polished and in good order.
It seemed that Ferraris did well over the weekend, but the empty history file boxes to support the cars’ background were still very noticeable. Maybe that is why the estimates are so low? Or, the gavel is thrust down early to move the vehicle on.
Since returning from Paris, we have spent much time and energy tracking down past history on vehicles released from the auction with no results.
The increased value that a complete history file adds to a classic vehicle is enormous. The satisfaction brought in by results makes it all worthwhile in the end, not only for the owner, but for the car in question too.
You have to ask yourself (and the investigations undertaken usually answer that question) what the vehicle should have really sold for, or perhaps ask the knowing, previous owner.
The coming weeks are busting with shows and auctions from all around the world, a consequence of the upturn taken by the classic car market, long may it last.
If you would like any assistance or good, down-to-earth advice, if you are looking to sell or buy a classic vehicle, just let us know. Restoration or valuations, we are here to advise and assist.
Look forward to meeting up at the coming events.
PS: Cars for sale not advertised.
PPS: Visit our online showroom.