Perhaps the most frequent question fired into the ears of my editorial staff and I this year has been, “What’s going on with the classic market?” Unfortunately the query is as complicated as it is common: there is no easy answer. There’s no question those glorious days of ‘the great Porsche boom’ (think circa 2014 to 2016), where values of classic and modern-classic 911s appreciated almost on a weekly basis, are long gone, replaced with a period of stability as the market has caught up with itself.
Many dealers are adamant this period of stabilisation has carried on into 2018, but there is evidence the market appears to have slowed in places. Many enthusiasts have picked up on this and, despite experts still doing their best to talk the market up, we’re starting to see the early signs of a lack of confidence, particularly in the UK.
Likely as a direct consequence of the Brexit farce, many are reluctant to spend their cash until the economic picture becomes clearer, and so demand has fallen. That means those trying to get out of their cars are having to substantially lower their prices in order to get even a sniff of interest.
What can we learn from this? Firstly, there needs to be a collective acceptance that the market has changed and, with it, a realisation our cars might not be worth what they were last year.
Secondly (and far more positively), if you’re in the mood for adding to your 911 stable, it’s a good time to do so. It’s a buyer’s market right now: you’ll find lots of choice in the classifieds and, with many owners or investors keen to get out, the possibility of a cheeky deal is rife. Of course, with less of this ‘collector car’ and ‘investment-grade’ rhetoric flagrantly woven into the 911 marketplace, the big positive is that we can all return to the idea of actually driving our Porsche 911s, rather than tucking them away in the hope of a quick payday in the near future. They’re built to be driven, after all – regardless of the economic climate!
“It’s a buyer’s market right now”