So if you have followed the classic car market over the last decade you will know that car values have increased dramatically. Ferrari's, Porsche's and Lambo's are selling for more money than a 6 bedroom house in suburbia. Even Sierra Cosworths are trading for £200K, which is ten times their original purchase price!
The reason why this has happened is that people have spare cash and bank rates are still very low, so why not invest it into a classic car that appreciates and you can either use it or stare at it in the garage. As a car enthusiast it is appealing and if I had the space, I would get my hands on a BMW E30 325i sport as it was the car I wanted when I was in my twenties.
Here is the thing though, my two teenage sons like cars, but are much more into computers, cameras and gaming, they appreciate a Nissan GTR or an original Mini, but they have no desire to really buy one, they satisfy their interest by playing Forza!
So will the next generation continue this love affair of classic cars? well, IMHO yes and no. I think the high end market will always have value, however, will the next generation be interested in E30's, Sierra/Merc Cosworths and the like, I would say not as much as people of my age are. They will not be inspired to restore cars of their time, as today's cars are in the main boring, built to be disposable and are too expensive to maintain long term.
I think the next generation will aspire to look forwards and put their money into new technology, electric vehicles, or other forms of non ICE vehicles.
The classic car market is safe for now, however, I think it will evolve in the next decade and those that invest in it need to invest wisely.
So, what are your thoughts? do you think 80's and 90's cars are going to fall from grace?
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Comments (11)
The W190E evo is one of my faves
Yep, it's a distinctive looking merc, I always liked the b and c pillars on these.
I'm in my middle fifties and have been a lover of cars since I was a small boy,.
My son is 30 and shares my Car Passion but only to a point, he drives a modern BMW Monte Carlo Flying Machine Thingamajig, and his classic car interests stem from the cars from when he was 17, Renault clio's Corsa's etc.
Where as I am interested in the cars from when I was in my youth.
I honestly believe that the cars we 50 odd year old chaps are craving after, will become less valuable over the next 5 years on a steady decline. The Cosworths, Mexico's, E30's and all other flavour of vehicles that are now attracting values of £20k upwards will start to decline. Once our generation get to retirement I think the attraction of our yesteryear cars will fade, and the prices will plummet.
Lets be totally honest the Cortina's Capri's and Granada's, that currently command eye watering prices are going to have the heaviest fall. It's a true fact that if a few years ago, instead of scrapping all those mark 1 Escorts what you could get at the time for 50 quid, if you had instead stuck them in an old barn and covered them with a plastic sheet, they would command more than some poor geezers pristine, cocooned Ferrari.
Now that to me is total madness, and that's why In my honest opinion this zeppelin of classic car prices will do the Hindenburg Syndrome...........................Crash and Burn.
So in short my advice is, Sell the bhazted things now whilst you have the chance, That's my plan. :-)
I think we all regret not buying bargain cars before they found value again.
Two years later . . . . . . Ford Capri's have quadrupled in value LMAO.
We´re a dying breed. Young generations aren´t interested in `old` cars.
MMM.. Wrong.
Well, if my understanding of millennials is any guide, they don't see owning a vehicle as very high on a list of must does. Share ride, Uber or hire a car for that special occasion. Pretty sensible IMO. Who wants a millstone round your neck. Besides, it leaves plenty of classics to choose from for us oldies. 😄😄
Yes, the classic car market will collapse, or maybe just deflate. Too many car are being made, too many cars are being hoarded. As the owners of these car hoards age and pass, their car collections are released into an increasingly crowded car market, and it seems that the next generations don’t share as much nostalgia for these vehicles.
It is now perfectly clear that EVs will be the supercars. I have lived to see the rise and peak of IC-powered cars, and the next thing is electric. Exciting times! EV conversions of interesting old cars will become the next big thing.
That's an interesting point Paul, regarding EV resto mods, this is likely as the people who have the skills to restore older cars/technology are also sadly slowing reducing in numbers, so this could well be the future. Thanks for your...
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