Classicmobilia E’News Issue 111 March 2020
Dear Classic Car Enthusiast,
During these are very tough times, due to the dreadful COVID-19 affecting everybody globally, we would like to take this opportunity to send our very best wishes to each and every one of you; it takes extraordinary circumstances to appreciate that our health and the wellbeing of our families are all that matters.
Please please take care.
We all know there are far more important things happening around the world, but we like to think that this newsletter is just a little window into the classic car world, and is meant to keep everyone in touch with what’s out there.
With all events shut down and auctions taking place online and/or behind closed doors, the market is on hold. We all understand the urgency and the exceptional situation that has led to this, but we also know that this will have a major knock-on effect in the coming months (and obviously not only in our world).
Major events all over the world have been rescheduled for later on in the year, life as we know it has been put on hold: will it all come together in the near future? Will we see events cross over? Shows like Essen and events like Mille Miglia, will all be affected.
Of course, we will see visitor numbers dramatically down, but will all this have an effect on values?
The USA auctions, just prior to the catastrophe we seem to be experiencing, looked quite promising with a number of cars doing well and a respectable turnout, with everything on track, and yet we did witness a number of marques suffering within the auctions, prestigious names like Ferrari and Aston Martin, with no apparent reason.
The main consequence of the current state of affairs will be, as a general prediction, a drop in prices: this will in turn affect all areas of the classic car market, as they are interdependent.
Far from us to spoil anything for scaremongers and armchair critics… but the market is doing quite well! We have had some good news from dealers, reporting that things are still ‘moving’. Is it down to no auctions? Or are buyers being more cautious and not wanting to buy blindly? Or, perhaps, are buyers a little tired of misleading write-ups? We will see in the next month or so.
“How deeply will the market be affected?” Well, we just do not think any market prediction graphs will work in today’s mayhem, or can project what will happen in the next few months. We at Classicmobilia think that the market will be a rollercoaster until we are all back to normality. When, exactly, that will happen is anybody’s guess.
The main focus is that we, as a people and as mankind, get through this, prioritising the safety and health of everyone throughout the world.
If anyone wishes to discuss the market, or would like to talk about buying, selling or restoring, moving or storing their classic vehicle, please do let us know as we would be delighted to assist.
Please be careful and stay healthy so we can get back into our cars and enjoy them again.