Where will we buy our fuel?
With news that the Government is to force through the end of new petrol engined cars, classic car auction price falls of unknown depths are likely in the short term. I fear a long-term collapse in most values, as local authorities are empowered to tax and then ban old cars from even urban areas. Fossil fuels are in very real danger of disappearing from what will be a dwindling number of forecourts.
For if the elected politicians prevent you from driving your classic car where you want to go and you are unable to refuel it when you get there, unless you have a motor museum, then there would appear to be little point in enforced ‘static ownership’ of a forever inactive artefact. Maybe only if a collector vehicle can be vandalised with some sort of green-friendly, retro-fit cassette motor, might the continued funding of increasing preservation costs be justified.
Those owners who lose their nerve first will consign their classics to auction first and be the first to cash in their chips on a no-reserve basis and accept what somebody is now prepared to pay for a fossil-fuelled classic with the realisation that the end of the old road is now nigh.
Those with few driving years in stock may soon be able to land a hitherto unaffordable investorgrade supercar for the yesterday price of a MGB.
Classic car auctions may have to revert to what, historically, all auctions used to be – real auctions, where current value is established through all lots selling for whatever somebody is prepared to pay when the hammer falls on the day. The new reality may be a ‘today market’. Thanks to the latest Michael Gove bombshell, the classic auction market has just become even more uncertain than ever before.
‘The classic car market has just become even more uncertain than ever before’
Going for the price of an MGB soon?