DDK Market Forces
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Ashley James
- Put a fork in me, I'm done!
- Posts: 1654
- Joined: Tue Jul 12, 2016 3:30 pm
- Location: Near Stroud, Glos. UK
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Re: DDK Market Forces
Another major factor is that Boris and Trump are supercharging the stock market and of money grows in that cars and art etc don’t.
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veryporky
- DDK forever
- Posts: 719
- Joined: Wed May 11, 2005 5:40 pm
- Location: Cambridge - ish
Re: DDK Market Forces
Strange thing classic car values. Ever since prices for mid to upper range older classics started to fall a few years ago the media have been stressing that the prices for the very best cars have remained steady and it is the less than best that has fallen away.
Over the last couple or so years I have been attending the classic car auctions at Duxford due to their close proximity and the chance to do a little window shopping. What I have found is that there the tendency seems to have been the opposite. In fact across all marques there have been very few cars that I would have fancied for myself. First one I went to 3 years ago, the best I could come up with was a very original HB Viva estate. The only air cooled Porsche was a very poorly restored 912 with all the wrong bits on it and trim hanging off for 45k including commission if I remember correctly.
Early last year there was a 911 T. The paint and structure looked nice and fresh but all the external trim was bent, scratched and poorly fitted. Inside was even worse. Getting in was tricky as headlining was hanging down, door pockets totally missing one side, half of it there on the other. Carpets were stuck down with black duck tape, dash totally kn*ckered list goes on. Only saving grace was a Redtek engine that someone had invested around 30 k in. Seems a lot of money to spend on a T motor, £55k with fees and a lot of money still to spend.
Last year they sold what must be one of the nicest RHD 246 Dinos around with 10k miles, still in original paint, totally pampered and documented throughout its life, a scratch over £300 k. Observers noted that a few years ago it would have been double that. One of the few cars I've seen so far that would have been lovely to own. Clearly that best of the best seems to have suffered here.
To me it seems that people are feeling the pinch so have lower budgets and are going for lesser cars and that seems to be pushing the prices of those cars up. The interest needed to get the best cars to where they should be doesn't appear to be there.
More evidence, tatty 105 Spyder, driver, kept on the road by patching up, tatty and not very original. In excess of 40k when fees accounted for. Would have needed a full resto. XK 120 roadster 75k tired paint, interior, trim, engine bay etc. All originality previously restored out of it, needing another resto. 3.4 mkII Jag ditto on condition, just over 20k with fees, nice one that I would have been proud to own only 7k more
Over the last couple or so years I have been attending the classic car auctions at Duxford due to their close proximity and the chance to do a little window shopping. What I have found is that there the tendency seems to have been the opposite. In fact across all marques there have been very few cars that I would have fancied for myself. First one I went to 3 years ago, the best I could come up with was a very original HB Viva estate. The only air cooled Porsche was a very poorly restored 912 with all the wrong bits on it and trim hanging off for 45k including commission if I remember correctly.
Early last year there was a 911 T. The paint and structure looked nice and fresh but all the external trim was bent, scratched and poorly fitted. Inside was even worse. Getting in was tricky as headlining was hanging down, door pockets totally missing one side, half of it there on the other. Carpets were stuck down with black duck tape, dash totally kn*ckered list goes on. Only saving grace was a Redtek engine that someone had invested around 30 k in. Seems a lot of money to spend on a T motor, £55k with fees and a lot of money still to spend.
Last year they sold what must be one of the nicest RHD 246 Dinos around with 10k miles, still in original paint, totally pampered and documented throughout its life, a scratch over £300 k. Observers noted that a few years ago it would have been double that. One of the few cars I've seen so far that would have been lovely to own. Clearly that best of the best seems to have suffered here.
To me it seems that people are feeling the pinch so have lower budgets and are going for lesser cars and that seems to be pushing the prices of those cars up. The interest needed to get the best cars to where they should be doesn't appear to be there.
More evidence, tatty 105 Spyder, driver, kept on the road by patching up, tatty and not very original. In excess of 40k when fees accounted for. Would have needed a full resto. XK 120 roadster 75k tired paint, interior, trim, engine bay etc. All originality previously restored out of it, needing another resto. 3.4 mkII Jag ditto on condition, just over 20k with fees, nice one that I would have been proud to own only 7k more
Keith