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Tim Miller

Classic Cars Not Selling Again.

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I follow the classic car market, I would love to buy a Jaguar E-type 5.3 V12 convertible. Cars were not selling until Spring, then a lot changed hands with the house spring bounce, it was exactly the same with houses, the right car at the right price sold. Now cars are not selling again, they are sticking. With classic cars the spring picks up the market, now we are in summer, very few will buy much after mid August. Will the dealers start dumping stock over the next two months?

Anyone else see a specialist market doing just the same?

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Guest KingCharles1st

I have close links with a company that restores old cars (expensive ones- like .5mill ones) and they said the market has not been affected- however, I smell a rat

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I follow the classic car market, I would love to buy a Jaguar E-type 5.3 V12 convertible. Cars were not selling until Spring, then a lot changed hands with the house spring bounce, it was exactly the same with houses, the right car at the right price sold. Now cars are not selling again, they are sticking. With classic cars the spring picks up the market, now we are in summer, very few will buy much after mid August. Will the dealers start dumping stock over the next two months?

Anyone else see a specialist market doing just the same?

Let me know when you buy the XJS so I can buy some oil shares

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Let me know when you buy the XJS so I can buy some oil shares

I bought an e-type in 1980, signal red V12 convertible for 4,750 pounds, I was getting two blonds to the gallon, happy days.

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I have close links with a company that restores old cars (expensive ones- like .5mill ones) and they said the market has not been affected- however, I smell a rat

Makes sense to me that they wouldn't be hit, given the sums involved. When you compare it to the more 'normal' end of the classic car market, you're looking at totally different buyers. The sort of owner who's got the kind of vehicle said restorers deal with is likely to be in 'genuinely loaded' category (go to Goodwood Festival of Speed and you'll see 'em at it) and is unlikely to be suffering much in the current climate, whereas the more normal end of the classic car market is inhabited by people who whom the real economy is somewhat important.

In short, Pink Floyd's Nick Mason is still going to be spending on his classic racers, whereas Smith and Smith Estate Agent's Mr. Smith at no. 22 is probably not feeling quite so confident about spending £50k on an e-type.

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Makes sense to me that they wouldn't be hit, given the sums involved. When you compare it to the more 'normal' end of the classic car market, you're looking at totally different buyers. The sort of owner who's got the kind of vehicle said restorers deal with is likely to be in 'genuinely loaded' category (go to Goodwood Festival of Speed and you'll see 'em at it) and is unlikely to be suffering much in the current climate, whereas the more normal end of the classic car market is inhabited by people who whom the real economy is somewhat important.

In short, Pink Floyd's Nick Mason is still going to be spending on his classic racers, whereas Smith and Smith Estate Agent's Mr. Smith at no. 22 is probably not feeling quite so confident about spending £50k on an e-type.

Yep, your probably right, the very rich won't feel too much pain, just be a little more careful perhaps. The super rich won't feel a thing! In fact they will be picking up bargains galore.

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Yep, your probably right, the very rich won't feel too much pain, just be a little more careful perhaps. The super rich won't feel a thing! In fact they will be picking up bargains galore.

Most likely what will happen is that the lower/mid range stuff will get hit quite badly but the really rare and expensive stuff won't.This is what seems to be happening in property.There will always be more buyers than cars for say 1930's Mercedes roadsters but the Morse Jag type of car will be the ones people choose to ditch to pay for the family holiday or a new kitchen.

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A garage near me who usually deal in cheap run arounds £4-8k had 5 classic cars on their forecourt aboat 3 months ago. All were sold abroad- the weak £ meant that they were cheap for Europeans. I think two went to Cyprus or Malta (RHD)

Cars were a E type, Cobra replica, Aston & a Ferrari Testarossa. Also an ModelT went somewhere else- might have been far east.

Now the £ is stronger this market sector seems 'slow'. They've had a Cobra replica & a Corvette on forecourt for a while now

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Probably a better investment than a house.

I wanted to buy a big coupe, one of the new shape mustangs or a BMW 6-series, last year they seemed to be testing £10k secondhand, now cant find much for under £15k. Maybe i should have bought one then and sold it on now :angry:

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I bought an e-type in 1980, signal red V12 convertible for 4,750 pounds, I was getting two blonds to the gallon, happy days.

I drove an E Type a couple of years back. Didn't think much of it, but the ladies certainly did.

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Probably a better investment than a house.

I wanted to buy a big coupe, one of the new shape mustangs or a BMW 6-series, last year they seemed to be testing £10k secondhand, now cant find much for under £15k. Maybe i should have bought one then and sold it on now :angry:

Yes that's right they have zoomed through lack of nearly new supply due to the fall in new car sales.this is true even with bread and butter cars.

Real classic cars are not a good investment because of the high maintenance costs involved.Things go wrong even when they are not being used and you really need a dry,heated in winter garage.Then there is just the general deteriation of bodywork,interiors and particularly electrical components.Rather like houses unless the market is on a strong rise you won't make as much as putting the money somewhere safe with a modest return.

The other problem is that values are very "seat of the pants".Unlike a three year old car which you can put a value to and be pretty certain of being within a hundred quid either way these things are worth very much what someone will pay and often there isn't anyone.The clue to this is the very wide range of asjking prices for the same car.My guess is that a lot end up changing hands at 50% or less of where they start.

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I drove an E Type a couple of years back. Didn't think much of it, but the ladies certainly did.
I drove a series 1 and a half manual coupe a few years back - it had been fitted with XJ brakes, so it was a fair bit better than a normal one - the gearbox was still worse than a Merc manual from the 1980's though..... - I see a few v12 convertibles about and think, you know, 996TT, 550 or E type, but then you realise that even with Maranello or Weissach spannermonkeys you could drop so much much more on running an E type.....

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