mk1-forum.net

Thought might be of interest, according to Haggerty prices are still rising (they class a 1275S as a “Classic”) based on a start point of 2018, I assume because its pre covid.

Most seem to dip in 2022, presumably because of the inflationary issues we had at the time.

Prices do seem to of softened, but if you look at your car in terms of an investment, it still seems better than putting it in the building society and a bit more fun

https://www.hagerty.co.uk/articles/mark ... ar-market/
.
.
.

I think there has been a drop in the price of cars that are in need of work, maybe a respray or engine rebuild as labour rates have increased. You might as well spend a few ££ more and get something that someone has spent ££££ on already. I suspect prices will start to bounce back when interest rates drop too. Also I think the rolling out of ULEZ style schemes will hit values of 20-35 year old cars. I live in the ULEZ area and have noticed a lot of non compliant cars disappear off the streets while historic class cars remain, plenty of these cars at auctions. My son who is 24 loves older cars but paying the ULEZ charge is a no - no, not when you can get a early 2000s Boxster S in mint condition for under £10K

Been following Hargerty for 1071 S top-values .. a few months ago they showed the 1071 at £52k now its £49k .. Moke is also down by £3k.
Given my troubles with Lloyds Bank & their "new" so called policy of "Easy Banking" with their phone lines waiting times "much worse" than my GP,s ..plus a mate selling his type 35 GP Bugatti before Rachel can get her dibs .. yes my Cars can stay where they are ( unless you got the cash).. The End In Nigh

That’s a bizarrely optimistic assesment going off the last two years , prices haven’t softened they’ve plummeted by at least 20%+

cockney21 wrote: ↑Sun Oct 20, 2024 8:48 am You might as well spend a few ££ more and get something that someone has spent ££££ on already.

I think that's absolutely key if you're buying a classic car as an investment.

Those of us that are restoring cars know that the cost of doing so far outweighs any potential increase in value.

Pete wrote: ↑Sun Oct 20, 2024 11:49 am That’s a bizarrely optimistic assesment going off the last two years , prices haven’t softened they’ve plummeted by at least 20%+

I was a bit surprised when I read it, would be interesting to see where the data is from…

My opinion is there is also a north south divide and most importantly the buyer that your tying to attract . I’m not going to start bragging on here what I made of 2 cars sold in the last couple of months but let’s just say one of them was well north of the Hagerty value . The condition of the minis being sold lately are never going to make top money mainly because of one thing . “ patina” . The people with money do no not want “ patina “ . Even if your restored mk1S had a good condition brocade trim , the mini will make more money with newton trim … . Rightly or wrongly, it all depends if your on the patina / originality side or the full resto side . …. Shirley

my view is -

originality and good history will always sell well , a restored car with new vin plates and zero history wont

You'd be surprised I think, I've sold, and seen sold, cars with good history and a bit of patina and they've made less money than shiny over restored cars with new trim etc.

I don't get it but the big money buyers often go that way, weird huh?

Over here it seems that the 'Cream' is still rising, but parts and lesser cars are dropping. Certainly a buyers' market her on Aus.

EAVB wrote: ↑Sun Oct 20, 2024 10:01 pm You'd be surprised I think, I've sold, and seen sold, cars with good history and a bit of patina and they've made less money than shiny over restored cars with new trim etc.

I don't get it but the big money buyers often go that way, weird huh?

As a general rule I think enthusiasts/purists/rivet counters/anoraks like us prefer originality, history & patina whereas big money buyers/investors who have little in-depth knowledge or interest in a particular marque, other than to put the car into storage for a future profit (with no capital gains tax to pay), will often buy the shiny over restored cars with zero, little or a complete 'Jackanory' history....

mab01uk wrote: ↑Mon Oct 21, 2024 8:08 am

EAVB wrote: ↑Sun Oct 20, 2024 10:01 pm You'd be surprised I think, I've sold, and seen sold, cars with good history and a bit of patina and they've made less money than shiny over restored cars with new trim etc.

I don't get it but the big money buyers often go that way, weird huh?

As a general rule I think enthusiasts/purists/rivet counters/anoraks like us prefer originality, history & patina whereas big money buyers/investors who have little in-depth knowledge or interest in a particular marque, other than to put the car into storage for a future profit (with no capital gains tax to pay), will often buy the shiny over restored cars with zero, little or a complete 'Jackanory' history....

Completely agree, big money does not like risk......condition is less risky than a "story"

For me its the patina and the story....but I would not be a top money buyer...sadly

This is a 50k 1071 Cooper S. It's absolutely lovely and is a proper one with a known verifiable history and very long term ownership. The white and black one didn't make 25k because it isn't worth half as much.

Really 'top' cars will still make the money.

mab01uk wrote: ↑Mon Oct 21, 2024 8:08 am

EAVB wrote: ↑Sun Oct 20, 2024 10:01 pm You'd be surprised I think, I've sold, and seen sold, cars with good history and a bit of patina and they've made less money than shiny over restored cars with new trim etc.

I don't get it but the big money buyers often go that way, weird huh?

As a general rule I think enthusiasts/purists/rivet counters/anoraks like us prefer originality, history & patina whereas big money buyers/investors who have little in-depth knowledge or interest in a particular marque, other than to put the car into storage for a future profit (with no capital gains tax to pay), will often buy the shiny over restored cars with zero, little or a complete 'Jackanory' history....

I was about to reply something along these lines. Spot on. Newfound money especially often leads to classic car ownership, over a lifelong passion. So it's easy to either be sold a make believe story, or just to go out and seek a better than new example.

That probably was the case. There are still buyers with money wanting proper cars but now the getrichquick set have moved on, the ringers/rubbish is struggling.