Caution
Our MGV8 market review and updated price guide for the 6 months
to the end of April 2020 are subject to an important caution
at this time when the classic car market is not able to function
as normal and may not do so completely for many months. Our
market review and price guide released today are at best an
indication in these challenging times rather than a guide.
However as most of the market data analysed for this latest
6 month period was seen in the major part (73%) of the
6 months period prior to mid-March 2020 when C-19 public contact
and movement constraints were announced by the UK Government,
the data we have analysed is factual in the sense it was observed
in the online marketplace. So we feel it is a credible source
for updating our price guide and review.
Some might feel that with the social and economic uncertainties
created by the current C-19 situation and the prospects for
continued disruption to the classic car market, we should simply
avoid publishing updated figures, even if they are qualified
by an intelligent market review. The reality is despite the
disruption to the classic car market the MGV8 market continues
to exist, albeit with social and economic constraints and other
unusual factors, and MGV8s will still command a price in the
marketplace.
So please note our latest market review and updated price
guide are released subject to this caution.
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Overview
Our MGV8 market review and updated price guide covers an extraordinary
6 months period:
> Most recently the shock to social and economic life
from the C-19 pestilence in the UK since the first half
of March 2020 with the serious effects of the UK Government's
social distancing and isolation requirements. The effects on
the classic car market have been considerable for private and
trade sales and particularly for live auctions which are "mass
gatherings". Nimble footed and creative classic car auctioneers
have set up online auctions to try and continue their operations
but however good online sets of photos or video tours of cars
offered for sale may be any buyer will need to make a close
physical inspections of cars. The UK Government restrictions
on "unnecessary travel" have been clear so for enthusiasts
looking for an MGV8 it has made a physical inspection of cars
for sale close to impossible.
> Prior to the C-19 crisis in the UK, our 6 month
review period had already seen extraordinary background factors
- more of the political muddle over Brexit in Autumn 2019, then
the surprise general election, the result leaving the Conservatives
with a workable majority and then the beginnings of steadier
government during the first two months of 2020. But despite
the effects those factors may have had, activity in the MGV8
market was generally strong in terms of the volume of cars seen
offered for sale.
See our updated price guide and market review. More |
