What’s been seen in the past year or so is that while the global economy faces increasing pressure, the classic car market seems to be able to resist the burden.
So while this might seem ‘ a good thing’, according to enthusiasts with the good fortune to own high-end cars, perhaps it is an extra factor in the polarisation of the classic movement?
Some dealers are finding it increasingly difficult to shift what were once classic staples. Cars from the 1960s, such as more common MGs and Triumphs, and the less glamorous classic saloon offerings from manufacturers such as Singer and Vauxhall stand the very real risk of falling off the radar of newcomers into the classic market. Borrowing to buy can be risky, but chucking your money at a car perceived as ‘lesser’ by others could look more foolish. Especially as money is still relatively cheap, should you finally find a bank prepared to lend you some. Which means that the easier option for fresh faces into our world is to stretch a little farther and buy something with ‘blue-chip’ status. S1 E-types, Triumph TRs and decent Jaguar saloons seem a better ‘bet’ than cars only slightly cheaper, if a potential return on an ‘investment’ is also on the radar. But is that the full story here? While values of classics can go up, they can also go down, which we have seen before. Investors and fair-weather participants in the classic hobby may take a while to understand that owning a classic is more about the fun, and less about the price. And the longer you own any car, the less relevant mere prices become. There’s consolation in that, should a fall in the market happen.