Next Price Guide update coming next week

The current 6 month period until the end of April 2026 has been the most challenging period we have experienced with the classic cars market in the UK. The uncertainties from the erratic decisions made regarding the war in the Middle East have been alarming. The impact of the disturbing flow of news on the Middle East war has created serious uncertainties and economic damage around the World. But there are signs it is now more of a buyers’ market in the UK with many sellers recognising prices have fallen back.

The demographic in the UK that is active in buying and retaining classic cars like MGV8s is generally seen to be in the age range 55 to 80 and with a high proportion in retirement or nearing retirement. A recent FBHVC survey indicated the average age of classic car owners is around 69. So with a prudent caution over their personal budgets based on pension income and savings, there will be a natural concern and caution for some over the risks of the impact of existing and further possible income tax and other tax increases. But for some with available funds the market provides attractive opportunities for buyers.

Our review of the market and our price guides will be finalised in the next week and released promptly in the first week of May.

Posted: 260422



Overview
The classic car market in 2026 continues to soften with values for many mainstream classic cars like MGV8s falling although some values remain flat. That softening had been seen developing since 2024, driven by the rising costs of living and concerns over the war in Ukraine, but over the last three months the situation has now become worse with the growing concerns over the war in the Middle East and the consequent serious disruption to oil supplies from Gulf countries. That has created serious economic consequences for most countries around the World, not least with dramatic increases in fuel prices but also growing uncertainty over the availability of fuels at the pumps in the near future.

The major concern for most people and businesses in the UK continues to be the increased cost of living and the heavy tax increases announced by the Chancellor Rachel Reeves in the Autumn Budget 2024 which took effect in early April 2025. UK Government debt remains very high with the burden of higher interest costs and the need to increase the defence budget. Fiscal drag is also a part of the tax increases.

Impact of the disturbing flow of news on the Middle East war
Since the Israeli strikes on Iran and then the US escalation in late February 2026, the daily news shocks as proclamations and personal statements, from the current US President, connected with the Middle East war have created serious uncertainties and economic damage around the World. Those uncertainties include the future availability of those fuels if the disruption continues to ships that need to pass through the Strait of Hormuz. The impact on international oil prices has been heavy. Market prices and the stability of supplies will take a considerable time to recover even when an agreement can be reached that opens up the route through the Strait of Hormuz again.

Classic car market in 2026
Now the reality is the classic car market has changed compared with only a few years ago. There are signs it is now more of a buyers’ market in the UK with most sellers recognising prices have fallen back.

On the demand side we have seen growing caution from buyers because of their concerns over the rising cost of living and the increased cost and volatility of motor fuel prices – and also concerns over developments in the Middle East. With classic car sales slowing, cars have been on offer in the market for longer.

On the supply side the flow of further cars offered for sale has reduced with owners increasingly aware of the slower sale rates in a flat market. However some owners do want to sell their MGV8 and at sensible prices and some relatively prompt sales have been seen on the cars for sale webpages on the V8 Website and elsewhere. There are also reports that a growing number of owners are considering selling their classics and, whilst they had seen the values rise over the last decade, many can see prices have fallen back and are now taking a realistic view on the asking price for their car.

The classic car market also reflects the increasing gap in the value of classic cars based on their condition. This is particularly seen between cars that are generally in “good” condition (or Condition 1 as we use in our MGV8 Price Guide) and also those that are in a “reasonable” condition (Condition 2 but often in need of some refurbishment or even greater restoration), because the costs of specialist labour and replacement parts for restoration work have risen to a considerable extent. Often the improvement in value of a restored car will not cover the refurbishment costs. So Condition 2 prices have fallen with a significant reduced demand. With Exceptional classic cars we have seen a considerable growth in the number of MGV8s offered for sale in that class with encouragingly a modest number achieving a sale at good prices.

MGV8 Price & Market Review update
Our Pricewatch has been gathering spots of all the MGBGTV8s and MGRV8s seen offered for sale in adverts and listed in auctions and the data analysis is near complete. An update will be released in early May 2026.