
| The
classic car market overheating? And where is the classic car market going? Adrian
Flux spoke to Tim Gascoigne, auction manager for Barons Classic Car Auctioneers,
to get the inside line on how the classic car market is performing today, and
what we might expect from the future. "In
2008 classic cars was just another hobbyists market. In 2010, after the financial
crash, prices of classic cars started to rise . . . and rise. In 2014, even the
mainstream media was picking up on the phenomenon and citing crazy
car prices. Since then, things have cooled in the classic car market and the media
is announcing everything from a slow down to a meltdown. Like any gold rush
the rise in classic car prices drew non-enthusiasts who wanted financial returns
and many of them had large wallets. While many spent their pounds on high-value
cars, the mid and even lower tiers were affected as everyone tried to get involved
with the budgets they had.
But even in a growing market, expertise goes
a long way and many inexperienced buyers spent over the odds for things that classic
car old-hands would have warned against. Still prices continued to rise. Inevitably,
the overheating bubble began to deflate as many of the stalwarts predicted, and
many prices declined, but the
classic car cognoscenti werent in mourning as the adjustment
signalled a return to sanity and being enthusiast-driven, not investment-driven.
Interview
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