2016: PRE­DICTED TO BE THE YEAR OF THE EN­THU­SI­AST

In­surance com­pany Hagerty is fore­cast­ing fan­tas­tic news for lovers of tra­di­tional clas­sics such as Tri­umphs, Austins, Rovers and Stan­dards

Classic Car Weekly (UK) - - News Analysis -

A global mar­ket anal­y­sis has re­vealed the lat­est clas­sic prices – and it’s good news for buy­ers of tra­di­tional clas­sic cars.

Mar­cus Atkin­son, mar­ket­ing di­rec­tor of in­surance com­pany Hagerty, has just com­pleted a re­port that in­di­cates that ‘worka­day’ clas­sics such as Austin, Mor­ris, and Rovers are cool­ing in price, mean­ing that costs are likely to re­main low for the fore­see­able fu­ture.

Mar­cus says: ‘The mar­ket is com­plex, to say the least. Peo­ple who are look­ing to make money are go­ing af­ter mod­ern clas­sics and high-end Fer­raris – al­though to a cer­tain ex­tent they al­ways have been af­ter Fer­raris.

‘What we’re find­ing is that the cars that are sell­ing best have these at­tributes: qual­ity, orig­i­nal­ity, un­usu­al­ness and a story. Find a car that has all of these fea­tures and it’ll prob­a­bly sell well.

‘Over­all, clas­sic val­ues are still head­ing up­wards, how­ever, es­pe­cially with fash­ion­able brands such as Ford. One re­mark­able ex­am­ple of this is the Ford Es­cort Mex­ico. In 1999, an ex­cel­lent con­di­tion Es­cort Mex­ico was val­ued at £1850, ac­cord­ing to Hagerty. In 2016, ex­cel­lent con­di­tion Es­cort Mex­i­cos were swap­ping hands for £20,000.’

How­ever, while ‘worka­day’ clas­sic val­ues re­main static, and in some cases are ac­tu­ally de­creas­ing, the over­all clas­sic mar­ket is still head­ing up­wards, with some per­for­mance mod­ern clas­sics from the 1980s and 1990s in­creas­ing in value.

Among the cars that Mar­cus high­lights as show­ing a strong in­crease in­clude Lan­cia Delta In­te­grales, Subaru Im­prezas and BMW E30 M3s, which have been on the rise for a while.

‘The best thing about these cars from the 1980s and 1990s is that they have turned a whole new gen­er­a­tion into clas­sic en­thu­si­asts,’ says Mar­cus. ‘And al­though we’re see­ing the big­gest growth in this part of the mar­ket, there are still plenty of bar­gains there. Gen­er­ally, al­though peo­ple find the big money sales of Fer­raris in­ter­est­ing, it doesn’t af­fect them.

‘We find en­thu­si­asts aren’t too con­cerned about value when it comes to sell­ing their cars – they’re more con­cerned about en­joy­ing their cars.’

Auc­tion an­a­lyst Richard Hud­son-Evans says that 2016 is likely to be the year for the en­thu­si­ast, with one pro­viso: ‘It’s a great time to buy, as long as the buyer is buy­ing for them­selves and not as an in­vest­ment. There are per­fectly good 1950s, ‘60s, and early ‘70s cars go­ing for not a lot of money at the mo­ment. Many cars from this era are un­fash­ion­able and lots of peo­ple don’t want to buy them. The other good thing about cars like this is the parts – they may be hard to source, but with the prices the way they are, you can get a donor car for a good price too.’

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