David Simister’s top tips on what’s likely to push a classic’s value up
Is there a lot of nostalgia for it?
One thing that classic dealers have highlighted is that a lot of pre-war classics, with the notable exception of Austin Sevens, aren’t fetching the prices that they once did – and one factor behind is that while there are plenty of restored examples out there, the number of would-be owners looking for them is limited. Compare that to the market for Seventies and Eighties Fords, where there are far more people lusting after one than there are good survivors, and you can see why prices go up. The key is to look for cars that plenty of people have a fondness for but for which are still around in decent numbers. Find one in good nick, look after it and values are likely to pick up as its tired brethren are scrapped or broken for spares.
How easy is it to look after?
The MGB GT V8, for which values have been creeping up steadily over the last couple of years – is a performance variant of a muchloved classic, which helps it press the nostalgia buttons. It’s also well supported, with a legion of MG specialists out there and two big clubs (including the MG Car Club’s dedicated V8 Register) ready to help owners out, and spares are easy to come by. On the flipside, it’s far harder to pick up spares for a Jaguar MKX, particularly body panels, than it is for a Mk2 of the same era, which might explain why it’s the smaller of these two Sixties saloons that tends to fetch higher prices at auction.
History and condition are everything
Having a car with the right pedigree makes all the difference in a market driven by enthusiasts rather than investors. Look for a classic that’s been looked after and comes with a bulging folder full of old Mots and receipts – and if it’s been previously restored, a photo album, CD-ROM or USB stick with all the photos chronicling the work – will make it stand out from the rest. It’s cars like this that attract the eye-opening prices in our auction results – last November a Triumph GT6 in such condition sold for a record £40,500 at the NEC’S Classic Motor Show, whereas most examples without such show-stopping provenance are worth closer to half that.