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HAPPY CLIENT

I have been a hot rod guy since a kid. One car I have always wanted was a 1936 Chevrolet 5 Window Coupe that was ready to go. I found one that was close to my dream car on Classic Car Store’s website. All steel body built from the ground up as a Pro-Touring car and built right. Jim was very helpful, specific and told me the good and bad about the car. I decided to buy it, bought a one-way ticket from Oklahoma to Birmingham, AL. I hoped the car was what it was supposed to be. Jim picked me up at the Airport and took me to the Owner, an elderly gentleman in a small country town. The car was everything represented, much nicer than I expected. After getting the banking handled I made a road trip back home to Oklahoma stopping and seeing a couple of friends on the way back. Not one problem with the car. Overall it was an excellent experience, especially when you are buying a car from photos and getting information from someone you don’t know. If you want a straight shooter when buying a Classic Car, Jim is the man. Thank you, DF-OK

Classic and Collectable Cars - Bursting Bubble or a Market Correction?

10/13/2017
Richard N Hawken
We think not, markets [even cars] move in cycles of on average 4 to 6 years. The start of the last cycle can be traced back to August 2009 when you could have picked up a good low-mileage Ferrari F50 for around £400k. Today the same car will set you back around £2m, evidence the top of the market remains robust, away from the casual observer. 

The major classic car indexes recorded their peaks during auctions of Q3/Q4 2015, since then, cumulatively prices have been easing. The differentiator is good cars are falling in value, but great cars have decoupled, increasing in both demand and value. Rising prices over the last few years has brought a number of “average” cars to the market, non-matching, non-original colours, modified etc. which are then being sold at completely new auctions. This nouveaux lack of experience and quality is obscuring the data downwards as true collectors/investors are simply “passing” patiently awaiting superior metal.

Publicized sales such as the 993 GT2 which RM sold for £1.8m in late 2016 only serves to compound the issue as average cars hit auctions with increasing low reserves – which then don’t sell lowering average sell-through rates, causing concern and whispers of bursting bubbles. It’s also worth bearing in mind we have seen recent weakness in other luxury goods asset classes such as London real-estate and fine art for example.

Collectively the data points suggest middle of the road collectable cars will continue to underperform for the next 12 to 18 months or at least until “value” is once again perceived in them.
 
 
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João Barbosa (born 11 March 1975 in Porto, Portugal) is a Portuguese auto racing driver. He currently competes in the United SportsCar Championship for Action Express Racing alongside Christian Fittipaldi, with which he claimed both the drivers
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Listen to John, Will & Derek discuss a range of Classic-Exotic-Antique Car topics.  They have over 75 years experience Restoring, Conserving and Building cars... Listen each week to "Bare Knuckled" discussions on the Car Hobby.