Used car prices

Roscobbc

Moderator
With the used and classic car market in something of a turmoil over the last few years with many cars failing to get the prices that were being achieving pre-Covid, perhaps seeing the same vehicles remaining for sale on the usual sites and forums makes it easy to come-up with an opinion?
Irrespective of how the classic and 'specialty' market is relating to the kind of cars we are interested there almost seems to be another world where traditional high-end European classics are still fetching comparitively good prices at the auction houses (albeit in many cases below their 'peak' prices.)
On one of the Facebook classic/American car groups someone had noted the low prices certain classics (and specifically American car were being 'realised' at last months Hampsons Bolesworth Castle auction.
This auction is a little different from others in as much as sellers are not charged commision.........this is paid by the buyer.
In particular a 2005 C6 Vette with rather gaudy Le Mans 'tribute' colour scheme and just under a 100K miles sold for £12938.
A Ford Pilot V8 saw £7312. A '90 Mustang Vert saw £3938. A '49 custom Cadillac low rider Coupe £14625. A '42 Studebaker coupe £4922 and a '95 Z28 Camaro £3094
All the above vehicles were sold 'no reserve'. Not clear whether they were from one seller or multiple sellers. Also not clear whether that 'hammer' price included buyers commission (probably not). Noticeably there were other vehicles 'with reserve' that presumably didn't sell.
One of the contributors (a trader) on the Facebrook thread commented that these cars reached reached their respective values and the figure that people are prepared to pay...........can't say I totally agree with that. There must be a few unhappy sellers expecting the auction house to have achieved far better figures for their clients.
The old addage is Caveat Emptor ('buyer beware') - perhaps Caveat Venditor (;seller beware') is a more appropriate saying in todays world?
 

Chevrolet

CCCUK Member
A '49 custom Cadillac low rider Coupe £14625.
I was looking at the results of that auction earlier on. Loved that '49 Caddy Coupe that went for £14,625:
And looking at the results of their previous sale on 27 July at Oulton Park, it was up for sale there/didn't sell with an estimated sale price of £35-40k!
 
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Roscobbc

Moderator
A really good stock '49 coupe would be that kinda money - 'stateside the same car, immaculate mind you with modern front and rear 'clips' and late engien would be double that figure even now! - a 'landmark' car.....even rodded!
 

antijam

CCCUK Member
With the used and classic car market in something of a turmoil over the last few years with many cars failing to get the prices that were being achieving pre-Covid, perhaps seeing the same vehicles remaining for sale on the usual sites and forums makes it easy to come-up with an opinion?
Irrespective of how the classic and 'specialty' market is relating to the kind of cars we are interested there almost seems to be another world where traditional high-end European classics are still fetching comparitively good prices at the auction houses (albeit in many cases below their 'peak' prices.)
The 'investment' side of the Classic Car market is still relatively buoyant. These are cars that are bought purely for their potential as an appreciating asset. They are unlikely to see the open road very often - if ever; They pass their time cosseted in temperature and humidity controlled environments in anticipation of the time when their owner thinks he or she will realise a significant profit by putting them back on the market. The big attraction of such speculation is that unlike more traditional investments a car is deemed a 'wasting asset' and in the vast majority of cases any profit realised will be free of capital gains tax (CGT)
The more mundane sector of the market - where most of the cars of interest to us as 'users' are found - is currently more volatile. Prices fetched for 'Concours' and 'Excellent' condition cars are in general fairly stable across most marques. Prices gained for cars needing work are much more variable since the final market value of very few cars will justify the ever increasing cost of restoration.
 
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