On TM there was recently a post, by an owner, regarding the sale of their Aeromax.
Their car sold for £130,000 and had circa 8,000 miles on it - this was at the end of October 2024. They had it advertised on Autotrader for £180,000
In June of this year, another Aeromax, with exactly the same colour scheme and with less than half the miles (3,100) sold for £120,750 - it was also car #1, which, to some, would have a more interesting provenance.
The car that sold for £130,000 in October was sold for £142,500, with 6,600 miles on it, in November of 2022. So, two years and 1,400 miles later it sells for £12,500 (+ fees) less.
I have heard of both an Aero 8 S5 and another Aeromax that sold for considerably less than the prices being advertised (the former at c£70,000 the later below £120,000).
In my humble opinion, what is occurring is two-fold.
Firstly, used Morgans are now feeling the same (normal) depreciation, and market adjustment, as the rest of the luxury car market (gone are the post Covid/post-Covid years of buying a performance car, driving it for a year and then selling it for what you paid for it, or more!). For most of us, this is normal and the blip in the last 3-years was viewed as an anomaly - not the new norm. However, I have spoken to more than a few people who predicted this trend of buying 'niche' products, and the value being retained, to continue on.
Secondly, Morgans, specifically traditional ones had generally benefited from very low depreciation - often due to slow supply and high demand. Over the past decade, demand seems to have come level with supply and thus the strength of used prices has softened. There are other variables, obviously!, but without getting into introduction of the CX, multiple model years changes, etc, the supply vs demand seems most pertinent.
In the case of the Aero product line, residual value was a lot softer and it was only the ever marching price increase of the new models that offered a little bit of protection on used prices. The Aero also suffered from Morgan dealers, more often than not, being unwilling to buy back, or even part-ex, the Aero product they sold in the first instance - this, imho, does little to instil confidence in the marketplace.
So, in the case of trads, supply now appears to be outstripping demand and the Aeros are being lumped into the luxury car market, which, much to the frustration of car dealers, is no longer experiencing a surreal surge of used cars being sold for more than the unobtainable new versions (surprise surprise!). Interestingly, the watch market is having the same financial reckoning.
All imho and just my thoughts having watched the markets closely for over a decade.
