The big story
Modified cars at auction
It goes without saying that the classic car scene is anything but static. While looking to the past it also embraces the modern-day trait of diversity.
Some of that diversity comes from the rising phenomenon of modern classics. But the increasing presence of modified and upgraded classics also adds more taste to what potentially was a reasonably flavoursome but often not particularly spicy market.
This rise in the number of modified classics has come about partially because of an increased desire to use cars more, but also because of the expectations of those new to the scene, who want more convenience and less hassle – in other words, they like some of the elements of old car ownership, but not all of the potential drawbacks of driving an older car.
Those upgrades might fly in the face of originality fetishists, but some upgrades can improve ownership enjoyment. However, what do those modifications do to a car’s value? Do they mean a decrease in value because of the deviation from factory specification? Or is there a value hike because a car is now better to drive or looks better?
According to Mike Hodges, who is a spokesman for auctioneer Historics, it’s easy to value a car that has never been modified, but those given ‘the treatment’ pose more of a problem.
‘As we know, original, unmolested classics with 100 per cent authenticity and comprehensive history provide re-assurance, are most likely to return top dollar and remain robust across all age, marque and value categories,’ he says. ‘But what about classics that are restored/re-manufactured as a variation of an original model, or upgraded to provide a better driving experience? And what of their future values?
‘As an example, take a car that’s described as a 1990 Porsche Carrera on the registration document, but has been expertly re-created to resemble the spirit of a 1970’s 911, but with more modern mechanicals. Is it worth the same, more or less than the original car? And why?’
While the purists might not like it, the changing classic movement will see enthusiasts new to the scene
‘What do those modifications do to a car’s value?’
wanting something different from their classic ownership experience. As Mike explains: ‘It’s a lot to do with who the car is appealing to and the psychology of the buyer. The classic car ownership community is very different today as a consequence of prospective buyers who are not the same purists as traditional classic car owners.
‘They can – and indeed should – be as fanatical about condition and quality, but will also embrace or be accepting of a culture that says the car doesn’t have to be the same specification as it was built.’