WHAT’S HAPPENING TO MODERN CLASSICS PRICES AND WHY?
Some traditional classic cars may be getting cheaper but modern classics continue to become more expensive. Leading the charge is the Renault 5 GT Turbo, whose average price has risen 93% in the past two years. Even an expensive collector’s model such as a 964-gen Porsche 911 continues to climb in price – up 20%.
“It’s all down to generation X – those people who were born between 1965 and 1980, many of whom are at the peak of their earning power,” said John Mayhead. “They want the cars they dreamed about when they were younger. Many modern classics drive like today’s cars, too, and unlike traditional classics require little maintenance.”
Even so, Andy Dearden advises caution when buying one: “There are many more modern classics out there than people realise, which can depress prices for all but the very best examples, so buyers should be careful not to pay over the odds.”