Talk Morgan Forums Community The Malvern Arms Has the bubble burst?

I’ve certainly never seen as many Morgans for sale in the back of Miss-cell-lal-nan-ann-ny as there are in this months issue

Interesting thread...

As one who never really researched market values to any great degree when buying a machine in my yoof. My priority was ever related to my desire to own it for whatever purpose I had in mind, though I will admit to occasionally seeking to evaluate the the imagined market value of whatever fun/sports car I might have in the garage at any time over the years, lest it might need to be turned into cash to cover any of life`s little emergencies.

As for my more recent market perceptions for Classics... Hmm..?

It seems logical that values of Classics overall may be subject to evolutionary and generational perspectives..? In that the young will perhaps be more attuned to interest rates affecting their choice as to whether to buy whatever their heart desires, whereas the more mature buyer of a Classic might be more likely to be paying cash..?

It seems the younger folk may be less inclined to think of the total cost of a desirable car, and more inclined to be guided by the monthly repayments as they may only intend to hold on to the machine to sample it`s pleasures for a short time, in that outlay to cover the overall market value of the machine may well be beyond their means, or play no part in their financial planning..? One only has to look at the number of owners of some 10 year old 911 derivatives to find a high number of short term owners, compared to expectations of vehicle ownership in a time before the decades of easy money...?

As for the generational effect and the way it might affect Morgans... Hmm..? in my limited experience it seems that while Morgans may raise a smile or even a wave from some young folk, that degree of interest may be more related to the fact that I suspect Morgans are likely to be a very rare sight on the road, not that the young might think a Morgan is top of their acquisition agenda..? A neighbour in his forties who is into cars was a year or two back into Nissan GTR`s he had two, one older special edition, and the other much more recent. he showed little more than a passing interest in my Morgan.. He has recently sold his GTRs and bought a Porsche 991.1 GT3.. I suspect he may have just grown out of being impressed with the antics in the movie series FAST AND FURIOUS, in which GTR`s were perhaps featured, and his tastes may have become a tad more sophisticated....? (-:

As for the generation most likely to be attracted to Morgans...? I suspect the majority may be baby boomers and as such that customer base is perhaps subject to age related alteration in life style priorities, which some time back required a "restomod" approach relative to the design and build of Morgans to better meet baby boomer`s evolving requirements.. Wider doors to simplify access and egress, considerably more comfort and bling built in, even air con.. and so much more, a lot of which any age 40 something buyer seems likely to take for granted, in even in a Morgan..?

The whole restomod thing took off a while back, and unlikely as it seems, perhaps Morgan were ahead of the game..?? For sure the Chrysler PT Cruiser was perhaps the first main stream manufacturer`s attempt at retro available in the UK, with the Audi joining in with the TT, but things have moved along quite a bit since then with the growth in the marketplace for high cost retromobiles... Be they the super expensive 911 derivatives that seem to be the equivalent of automotive jewellery, or even the humble MGB modified to suit more modern expectations, all of which has been interesting to witness in terms of evolutionary processes..?

As has been typed one only has to look at the TV prog Bangers and Cash, to witness the age group and priorities of those selling, those buying and the motivation to be involved in such processes... Not much youthful exuberance in evidence...?

I must admit that outside of young children, the main age group tin my experience hat seem to understand and appreciate what a Morgan is and have expressed more than a casual interest in the car and possibly aspiring to own one have certainly been in their 50's plus.

Whether this is a generational thing as to what cars they aspire to, or more a recognition that they are of an age the children have flown the coup, possibly paid the mortgage off and they have now have more disposable income to indulge themselves more, I'm not sure or maybe a a combination of both,

Having said all that, I'm of the generation that grew up with the what is now known as the fast Fords, having driven or owned them in the past when they were new, I do struggle with the prices some of those fast Fords are commanding these days. especially what you actually get. I had a Lotus Carlton company car for a while and that probably was one of the few cars that did perform well in its day, but would pale in comparison to some of the modern performance cars.

It will be interesting to see long term how the traditional Morgan market evolves, especially now they are not making them anymore, will values erode or climb and will the much improved CX models with its traditional looks but modern underpinning influence that future traditional Morgan value debate

Has the bubble burst........yes...!

It's been bursting all year, and probably, realistically, since last year.
Dealers just aren't selling cars, new or used, not in the volumes that they used to do anyway.

I guess all the financial and global factors previously mentioned are playing a big part, but more interestingly I think, is the age thing.
The people who do aspire to a mid life crisis sports car, and can afford one, probably want something from their youth that the couldn't afford then or, something completely new and modern.
A trad (or CX) Morgan perhaps doesn't fit the bill.

Morgan owners have for a long time seen their car as an 'investment' a safe place to put their pension money and enjoy it for a few years.
No Morgan owner could ever see that the value of their car would decrease. I guess now, owners are still wanting 'top money' for their car even when there are a lot of cars on the market all competing for a very small pool of potential buyers.

I can only agree with all that has been said - my 4/4 has been on the market for a couple of months with very little interest. So far just 3 timewasters (one of them apparently saw it on the Forum - if you are reading this, I took the time and trouble to reply with the info you requested, and you didn't even do me the courtesy of a 'Thanks'). I did get to the point where I wondered if anyone else could actually see the ad, or was it some kind of IT glitch? When I first tried to buy a Morgan some 12 years ago I failed miserably - every car with a reasonable price was gone in 60 seconds, and it seemed that Morgans only ever appreciated. No longer I guess.

Same with everyday cars - I have been looking at E Class Mercedes since my Mazda CX-5 blew its engine in April. Initially the money I wanted to pay would not quite stretch to a facelifted 2013 model. Now, I am spoiled for choice. It was only a short while ago that used car prices were hugely strong due to the problems with supply of new ones. I suppose that issue is now resolved, leaving dealers and punters alike with a distorted view of what their car is worth. I paid £26K for the 4/4 in April, now I cannot even get a sniff when reduced to £24K. I have put the price back up and will wait it out.

I must of done well then. I put my 4/4 up for sale July/Aug on the Auto Trader and this forum. I sold it within 2 weeks to the first person who came round, for nearly the same price as i paid for it in 2017.

I'm not sure this is anything new really. We've discussed this in the past and over the years there are peaks & troughs, and right now we're in the seasonal trough. Winter is a buyers market and I always bought my MG Midgets in winter for that reason. I remember the MMC website being awash with Plus 4s a few years ago, and certainly when I started looking in 2005, there were plenty of Plus 8s for sale.

Buyers can be picky, and any who have done proper research can afford to wait for the right car. I spent three years on a spreadsheet analysing every Plus8 and Roadster which came up for sale from 2005 to 2008. Hardly any matched what I wanted.

I picked up on falling residuals a few months ago and at the time p/x’d my M3W at £36k (that’s £2k less than I paid for it four years earlier) for a Caterham, the dealer was hesitant as he said that used Morgan’s weren’t shifting off the sales floor, nevertheless he went for it and within a month he had dropped his original advertised price of £41,950.00 on my M3W by £2k.

I just noticed that Bonhams sold a M3W in auction at just £26.3k.

In the case of M3Ws, I think it’s down to generational preferences, the economy, reliability and the introduction of the Super 3, each one whittling away at the potential buyer base. However If I’d sold my M3W a year earlier I’d have probably got £38k - £40k for it.

Don’t ask what I spent keeping the M3W running

Or did a bubble only ever exist when there was 6/7 year waiting list for a new car?

A quick search today reveals the following offerings of all used models.

MMC. 204
PISTONHEADS. 192
C&C. 358



I bought this car new in 2012 enjoyed 40.000 miles of relatively trouble free motoring all over Europe and Scandinavia and then sold it 2016. It was sold through BHM. It sold for less than I paid for it, which I anticipated and accepted as the reality of the marketplace. I harboured no illusions about the car being an investment. It was bought to drive and enjoy.

When the CSX model arrived I started to investigate the options. The multiple problems that owners have experienced and published cooled my enthusiasm especially given the high asking prices and doubts over any dealer network being in existence in the future.

In essence you can’t buck the market. A second hand car is worth what someone is prepared to pay.

Lovely car ! Looks like the chap in the background has had enough and is about to jump off the quay.......