Value of classic cars hits skids

CLASSIC cars are falling in value because there aren’t enough old- fashioned mechanics to keep them at their best.

Since 2005, vintage vehicles have proved one of the shrewdest high-end ‘collectible’ investments going as prices soared by more than 300 per cent.

But figures from Coutts, the Queen’s bank, suggest their worth plummeted by 10.4 per cent over the past year.

Philip Warner, of the Car and Classic website, said: ‘Prices have tumbled and that is in part due to the dire shortage of skilled mechanics. I seriously doubt the future of classic cars as we know them.’