Dear Classic Car enthusiasts, friends and followers,
What a vibrant start to the year, according to some mind-blowing reports of monumental sales from dealers! Yet we are still hearing that the market is “flat”.
Yes, run-of-the-mill cars may not be performing well, and it is quite clear the market is objectively down in that segment, but well-documented, special cars keep the rest of the industry quite buoyant, and with good reason.
This year’s Paris Show was as exotic and full of glamours cars on display as always, but we did not witness many sales on the major stands; however, success cannot always be measured during the show, as most of the hard work is done after the lights are out.
We’ll never tire of saying what a pleasure it is to see so many great cars on display; the combined knowledge and experience in the halls were exceptional, and it is always uplifting to speak to people who know so much about specialist cars and their background.
The big three auction houses were out to impress, with over 330 cars going across the blocks over four days and some 281 sales through the auctions. We are sure that there were some sales after the show to account for, as well.
Sales figures were made to look good by the fact that 60% of the cars were sold with no reserve, but many selling under the estimated figures produce a knock-on effect on the market, as the last car sold at auction may reflect on the marketplace itself.
Not good for the classic car business…
Add to the above the fact that those cars’ true condition never gets correctly reported, and the result is a distortion of market values.
Talking about condition, though, venturing around the restoration businesses lately we see the opposite side of the coin: many important cars well under way with major, serious work being undertaken.
As those are the cars that end up being sold for grown-up prices, it stands to reason that many vehicles which had been laid up over the years are now being dusted off and sent for restoration, and that looks promising.
With the show season on its way, we will encounter some fabulous cars which have not seen the light of day for a long time, something to look forward to.
If you are thinking of a new classic car or of selling one, we are here to assist and ready to discuss your next move, help looking for a restoration project and avoid you getting lost in the minefield of what should be considered.
Happy, safe motoring
Keith
keith@classicmobilia.com
+44(0)7889 805432
+44(0)1908 270672
www.classicmobilia.com
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