Mike Brewer shares his expert advice with CCW
Mike Brewer shares his market musings with Silverstone’s showgoers
David Simister What sort of things have you been talking to Silverstone’s visitors about this year at the event’s Car Clinic stage?
Mike Brewer The very eclectic mix of classic cars that are powering today’s market. I’ve talked about the Porsche 912, which is now going for really strong money, the DeLorean DMC-12 and how it offers something very different from a Porsche, and how there are lots of spare parts around despite only 8000 of them being made. I also had a look around an Opel Manta GTE bought in Ireland for €12,000. Here it’s a £20k car, so it shows you can get a great deal if you’re prepared to look a little further.
DS Where is the classic market at its hottest right now?
MB The 911’s popularity has gone through the roof right now and people are looking at the next best thing. We’ve seen that prices of the 912 have gone up from £10-15k four years ago, whereas now they’re nearer £45-50k for a decent car – and the 928, previously a bit of an unloved car, is heading the same way. It’ll be a £50k car in two years’ time.
DS What other parts of the market are doing well?
MB Minis are still on the ascent price-wise, but overall the market’s moved increasingly into 1980s and even 1990s cars, so that’s where the really smart buys are to be found. Cars like the Volkswagen Golf GTI and Peugeot 205 GTi are where really strong investment is likely to be made, both here and on the European market. Watch out for BMW Z3Ms too, and fast Fords are still the market’s strongest performers.
DS Which models do you think are cooling off?
MB Cars at the very top end of the market – Ferrari 250s, Aston Martins, E-types – are starting to come down in price, and have lost about ten percent or so over the last two years. Cars like the Triumph Herald, Morris Oxford and Austin Cambridge are starting to drop in price, too, so it’s cars in the middle of the market that are really doing well.
DS What’s your top tip for anyone thinking of buying?
MB It’s very much a case of choosing the right car at the right price, looking after it, enjoying it and taking it to car shows. In a year’s time you’ll probably be able to sell it for ten or even 15 per cent more than you paid for it. The Government might have made the mad decision to drop the requirement for an MoT for classics over 40 years old, but now you don’t have to MoT most classics or pay road tax, either. There really has never been a better time to buy a classic car.