Dealer View

The tactic being used to ‘pad out’ classic sales

Guy Newton Historic Cars

‘The market has become more discerning’

How has the year been so far?

For us, 2019 started with a variety of left- and right-hand-drive cars selling to Europe. It is apparent that some parts of the UK market are being bypassed through the prevailing economic uncertainties. It appears that buyers of exceptional right-hand drive cars are treading more cautiously, which is unheard of. I am confident that such examples will remain a good investment for those who can wait and predict that their market value will ultimately strengthen. Certain cars may not achieve a sales result in this current market, and overpriced consignments, aimed to pad out sales catalogues or flatter inventories, will invariably lead to a no-sale. Such tactics often backfire, particularly with auctions, with low sales results ultimately unnecessarily reducing confidence in a global marketplace. Such destabilisation ‘talks down’ the marketplace and affects us all.

What significant cars have you sold this year?

A variety of cars have changed hands here, including a RHD Dino and a Ferrari 330 dressed in aluminium clothing evocative of the 250 SWB. However, my personal favourite was a one-owner XJ6 Series 1, which displayed the timewarp charm that only comes from years of careful ownership.

Is demand for more modern cars strengthening?

The market seems to have stabilised for these cars, but we have certainly seen an increase in demand for prewar cars, particularly from America. There also seems to be a increase in demand for Lancia, backed up by Sotheby’s fantastic results in Essen.

Are customers becoming more demanding?

We know that cars with incomplete histories or cloudy pasts are no longer a viable prospect to today’s educated buyers. Most buyers now know what they want, know how a car should perform and will only buy the best. The market has definitely become more discerning.

There is a leaning towards passion within the market place, with a desire for hands-on ownership over an ambition to turn a quick profit, and most importantly a need to own ‘that individual car’. The upshot of this is that while finding the right cars is tricky enough, finding them at the right price is the real challenge.