To answer the OP's original question. Flog it now.
The current state of the classic/specialist market is a permanent re-adjustment in my opinion.
There are more factors in play than a simple "recession" and , with few exceptions, prices won't recover to previous levels.
We have had recessions in the past and the classic car market has recovered, but when it does recover it tends to follow a different trend/focus each time eg we have seen in the past at different times had un restored, restored and racing heritage cars become the new de rigor following a recession and previous rising stars become dogs as far as value is concerned. Do you remember when people ploughed money onto restoring cars and you could still make money then the recession in the late 80's early 90's (from memory) came. When the economic recovery mode was back in full gear you could pick up a restored car for peanuts compared to the restoration costs as unrestored original cars and pre '55 cars that qualified for the Mille Miglia were in high demand, the market focus had changed completely. There may well be different factors playing into the mix this time, which may lead to a more permanent down grade eg interest rates may still remain higher than recently, Government taxation focus may change and public perception of carbon belching dinosaurs may become less tolerant.
I was following a Rover 10 the other day along Blackpool prom and we held back further as the exhaust fumes from an immaculate car where quite repugnant as we followed it................
