The crash in classic values seems to be across the board. A pal of mine is trying to sell a 1966 Triumph T120 TT desert racer, he's struggling to find buyers even down at £8k. He's kicking himself because only about 3 years ago someone offered him £20k.
But it's like they say, the value of investments can go down as well as up. As the pool of interested buyers shrinks, so will the values.
I fully suspect that the decline in market value relative to classics valued by the baby boomers, may well be directly related to the decline in numbers of the baby boomers, thus I expect that which was valued in terms of investment potential re classics may more disappoint those who might depend upon it for any future financial planning...?
Unfortunately it seems another of the baby boomers asset classes, may be heading in a similar direction to Classics in terms of the housing market, if the young can not earn enough to get a mortgage even by increasing the length of the repayment period..The outcome seems rather obvious, across the average income earners in the general populac, leaving room for the cash rich to ..err..make a killing.. Thinking not only Blackrock, but others of a similar ilk... Where might that lead is anybody`s guess...?
Todays bargain classic may be tomorrow`s regretted purchase...? Unless of course one tends to make maximum use of it by whatever means provides the most pleasure for it`s owner...?
BTW Had I bought a mid 80`s Porsche 911 for a similar amount to the circa £20k I bought my +8 for back in circa 2002 with 8k miles on the clock, what difference in the values today..?
My guess would be that if you could find a mid 80`s base 3.2 911 with 38k miles on the clock, it would be a bit of a unicorn, and perhaps showing similar signs of usage as my +8, it would be knocking on £100k
As for the current market value of my +8, I leave you to guess.... as a guess is all it will be, for I care not a jot, as I have no intention, or more fortunately need, to turn it into cash at this moment in time..Tomorrow, all that could change for me too... Once I get the long list of Spring related pot hole filling and gardening tasks diminished to the extent that I can justify firing up the old Mog and ENJOY it... while I still can... (-:
I feel really sorry for those who may depend on the value of what was once thought to be a pretty secure investment class, and which may be found to be in a stage of decline..... )-:
I look forward to an alternative view being presented..?
