Market Trends - January to July 2017
2017 started well for the classic car market, with most vehicles continuing to noticeably climb. There was no clear sign of any slow down or the much discussed potential knock-on effect of the Brexit referendum uncertainties in the first quarter.
As always, however, the free and emotion-lead market proved difficult to scientifically predict and threw up some unexpected results - some surprisingly high values for very average vehicles and some quality vehicles not making reasonable reserves.
In contrast, the second quarter saw a marked changed. Many sellers have got a little too greedy in trying to cash in on the rising market by setting ordinary vehicles with extraordinary reserves. The happy consequence being that the vehicles didn’t sell as buyers demonstrated how realistic they can be with regard to over optimistic sellers.
Those in the know see this as an entirely reasonable correction, rather than a genuine slow-down, which is ultimately good for the market in general. The message is clear, good vehicles always sell well, in any market.
So, what is hot at the moment? Iconic British vehicles, e.g. E-types and Mini Coopers continue to rise above expectations and rare, small production run vehicles still enjoy high demand from a dedicated hard core of enthusiast buyers. The smart money is on new or emerging vehicles, such as the ‘fast Fords’ of the 80’s and early 90’s. German vehicles, early 3 Series BMW’s, are showing steady with 70’s Japanese sports cars strengthening, their relative rarity now commanding a premium.