Originally Posted by mph
Irrespective of whether the cars are sold at auction, privately or through a dealer, values have dropped considerably and owners expectations will take time to adjust.

It's not exclusive to Morgan. I follow the Classic Car market, which has some parallels, and it's the same pattern.

Regarding auction values and results, they are as relevant as any other means of sale. Perhaps more so as they're easier to analyse. The general trend at auction shows a substantial fall in successful sales. Clearly this is mirrored at both dealers and private sales until such time as the prices are reduced.

Anyway it's good news for buyers, which is perhaps long overdue. smile


Its only good news for buyers when the prices stop falling and reverse !

Yes the issue has affected other markets and products. To sell my Ferrari now, I would have to take a 30k bath because instead of just a couple being for sale as there were when I bought there are maybe a dozen now. The watch market is the same - I had been idly watching Rolex prices and the way that buyers who managed to get one from a dealer could make a quick few thousand profit on the grey market. That has gone and dealers now have stock for sale in the windows. They are having to get used to selling rather than rationing out to their pals..

The cost of finance is a major issue. As someone who has never bought on tick (?) I was astounded to be told by the dealer that 90% of Ferraris were sold on finance.