Weathering change
Dealing with the fluctuations in the classic market
How has the market been so far this year?
Demand from Europe was strong in early 2019, when there were concerns that Brexit would make it harder and more expensive to import classic cars to the continent. This changed during March and April, and we have been extremely busy with UK buyers purchasing cars for the summer. Low interest rates have meant that many people see no point in leaving money in bank accounts, reasoning that a well-bought classic will provide them with lots of pleasure.
Purchasing outstanding cars for resale remains our key challenge. We buy most of our stock privately, preferring to meet the owner and drive/inspect the car thoroughly. It means we drive thousands of miles but doing so maintains the quality of stock that our customers expect.
Do you sell predominantly to enthusiasts or investors?
The market has definitely changed over the last six to 12 months, with fewer investors leaving the way clear for the genuine enthusiast. It is always rewarding to help make a customer’s dream purchase become a reality.
How clued-up are your buyers?
As the enthusiasts have come back to market, there is no question that many of them know exactly what they want and, more importantly, know it when they see it. We are often asked to put a car on our lift or facilitate an independent inspection and we are always happy to offer advice.
Do your customers favour restored or original?
Bright and shiny with a fresh respray but a tired engine bay or interior is not where the knowledgeable buyer wants to be. The enthusiast wants the best car at a fair price and, most importantly, a car that they can use and enjoy with confidence and pride. Such vehicles might be restored or, equally, might be original. The one thing that everybody wants is a nice history that tells the story of a car and demonstrates a high level of maintenance or restoration and love over an extended period,
Is it still regular classics – Morris Minors, MGBs, Triumph Heralds and the like – that people want, or is there a demand for something more left-field?
We work on high-quality stock with a fast turnover and there is always super-strong demand for good condition, fairly priced ‘regular classics’ that are easy to live with and evoke nostalgic memories.