Prices are dropping...

[JonB]

Hi

Just came across this S4 that was auctioned recently. Only made £15750! (Plus buyer's premium of £1575)

https://www.swva.co.uk/classic-car/lotu ... e-s4-1970/

Then this one on C&C: https://www.carandclassic.com/l/C1789649 - £19995.

I thought a good S4 was £30k territory. I guess the "cost of living crisis" is having a real effect. So I reckon - asking prices notwithstanding - that the days of the £40k Sprint are gone. At least, for now.

JonB

[nmauduit]

yes, it looks rather decent (even if too yellow to my taste, and a Stromberg head but with the top balancer tube), a cracked valve cover and torn/reglued driver seat alone would not explain such a price cut if the demand was not faltering...

[h20hamelan]

As luck would have it, the Elan and all Lotus products are not VW Beatles or 911’s.

[Fred Talmadge]

Hemmings here in the USA shows values and overall it seems many cars are worth a little less. Watching Mecum auctions on TV and thought there were some pretty good deals. Guess people are just a little tight right now, even the well off.

[mark030358]

Yes you are correct, prices falling everywhere.

I think due to the type of government (sic) we have in the UK people are holding on to their cash. If you have any, this govenment will want to relieve you of as much of it as it can. To use an old quote "it spends other peoples money until there is none left"

Better put the heating on it's cold... oh wait, I forgot.....

sorry for the "offtopic"

[JonB]

Mark,I think you have a point. The upcoming budget is surely weighing on people’s minds and all new governments like to put up taxes as soon as they get into office, whatever their political persuasion. At least in the U.K.

An observed behaviour of the wealthy is the tendency to lock wealth into assets but as far as high end classics are concerned I do not know what the market is currently like. They are exempt from CGT so the top of the market examples can be a good investment.

Interesting read here : https://www.georgehay.co.uk/blogs/2019/ ... assic-car/

That said I think prices in our market segment have been getting worse for a year at least. I suppose it’s obvious when you see all the overpriced adverts for the same cars popping up again and again!

[shynsy]

Possibly true, but I am seeing prices of cars from the late 1980s and 1990s rising strongly at the mo. So I think we are also observing a generation shift to what we call modern classics. Which may mean, inevitably, that 1960s and 1970s classic loose value. Cars fro. The 1950s experienced similar drops a decade ago.
Tim

[JonB]

A very good point, shynsy.

[Famous Frank]

Vehicles that have one or more issues do have lower price. But it is my opinion the the truly exceptional cars restored to perfection are still bring the money!!! At least here in the USA.

Frank