E-Type major price correction expected?!

[go.ran]

We have noted in the past that the long-term outlook for British cars is uncertain since younger buyers in general still shy away from them. That still seems to be the case, but budget-conscious buyers looking for maximum fun and style per dollar should keep an eye on this segment.

- Andrew Newton, January 2020

[go.ran]

Price corrections this week:

[H7OB]

Hi Goran,
You may or may not have gathered that the forum primarily consists of enthusiasts far more interested in the restoration, improvement, driving and sheer joy of owning an E Type of any description. For me, the fact that it also may have gone up a little in value is a bonus. If it’s an investment you want, a classic car of any description has clearly flattened its trajectory, unsurprisingly of late, based on current global meltdown. A start-up, sustainable hemp based, vegan approved, beard friendly face mask online retailer would be a much better investment at the moment! If it’s an E Type you want, maybe focus more on getting the right car rather than the right drop in price. If it’s going to be a long term relationship, the the joy of getting the right car will last far longer than getting the wrong car at the ‘right’ price! You’ll probably also find that the folks here will be far more interesting in car than cost.
Best of luck with your search! Looking forward to see what you find.

[PeterCrespin]

[go.ran]

Cheers Paul!

Hi Goran,
You may or may not have gathered that the forum primarily consists of enthusiasts far more interested in the restoration, improvement, driving and sheer joy of owning an E Type of any description. For me, the fact that it also may have gone up a little in value is a bonus. If it’s an investment you want, a classic car of any description has clearly flattened its trajectory, unsurprisingly of late, based on current global meltdown. A start-up, sustainable hemp based, vegan approved, beard friendly face mask online retailer would be a much better investment at the moment! If it’s an E Type you want, maybe focus more on getting the right car rather than the right drop in price. If it’s going to be a long term relationship, the the joy of getting the right car will last far longer than getting the wrong car at the ‘right’ price! You’ll probably also find that the folks here will be far more interesting in car than cost.
Best of luck with your search! Looking forward to see what you find.

[chrisfell]

Sotto voce.....

So that’s just me and Goran hoping to pick up a bargain when investor owners who are now considering liquidation opportunities in their portfolios dump their car collections into a suppressed market. I’m also thinking that reduced valuations will make my insurance premiums fall next year. I believe the Americans call this a Win Win.

I’ll keep quiet, Goran, if you will.

[go.ran]

Cheers Chris

I'll stay quite from now on

[rfs1957]

No correction needed - at least not in the states....

https://rmsothebys.com/en/auctions/fl20 ... ter/855140

Am I the only one who thinks that's something of a low price ?

Didn't we see cars like that going for half as much again a year or so ago ?

I haven't seen the detail-checkers destroy the aura of perfection that it carries. Whatever I do to my car it will never be as nice as that one ..........

The only thing I don't like is the Lucar connector standing upright on the otter-switch ! Maybe interior trim a bit naff in places ?

[WM86]

Sotto voce.....

So that’s just me and Goran hoping to pick up a bargain when investor owners who are now considering liquidation opportunities in their portfolios dump their car collections into a suppressed market. I’m also thinking that reduced valuations will make my insurance premiums fall next year. I believe the Americans call this a Win Win.

I’ll keep quiet, Goran, if you will.

And me too!

[Philk]

No correction needed - at least not in the states....

https://rmsothebys.com/en/auctions/fl20 ... ter/855140

Am I the only one who thinks that's something of a low price ?

Didn't we see cars like that going for half as much again a year or so ago ?

I haven't seen the detail-checkers destroy the aura of perfection that it carries. Whatever I do to my car it will never be as nice as that one ..........

The only thing I don't like is the Lucar connector standing upright on the otter-switch ! Maybe interior trim a bit naff in places ?

The only major thing I spotted is that the Picture Frame is not original. The font for the "1" is completely wrong - it should be like the "1" on the engine but is completely different.

[rfs1957]

And isn't the "pumpkin" a bit too literal ?

I thought it was golden pumpkin skin, not orange ?

[go.ran]

A great article at "Classic Driver": The art of trading collector cars with Bastian Voigt

How would you summarise the state of the market and what trends do you anticipate in the future?

Growth slowly came to a halt around two years ago, which I think is a normal and healthy process. Things have settled down and whereas some cars remain very stable, others have gone up or down in value. One of the biggest challenges we face is that many owners still compare the values of their cars with those during the peak of the market in 2014 and 2015 and other unrealistically priced similar cars. They were not average values then, but many people quickly thought these landmark sales were the new norm.

I think there are a few trends emerging. Quality has become so important and the gap between cars that are outstanding and those that aren’t will become greater. But cars will be seen less as investments and more as a hobby again, which will raise the appeal of good driver-quality cars and lead to real demand and therefore stable prices. People are becoming better educated and buyers will do their homework when inspecting cars and be more discerning. Younger cars will become more sought after and, with a few exceptions, older ones will go out of fashion, as nostalgia is one of the main factors while buying a car. But in the long run, the great pre- and post-War cars will develop very well, in addition to cars from the best historic racing series such as DTM and Group C.

[christopher storey]

Oh God, spare me." Boutique" dealership - the fanciful description tells you everything you need to know. . "Collector" cars. wtf is Bastian Voigt who appears to have about 2 years experience in the field and as far as I am aware has never been heard of in Jaguar circles before ? His only contribution appears to be that of the politician who says " existing conditions are likely " . Please, can we not just put this subject to bed now ?

[Herzeg]

Go.ran

You joined this site this year to find cars for a buyer. As has been already pointed out, this is a site for enthusiasts who care about their cars. Clearly values are important to us but not the be all and end all.

I may be wrong, but everytime I see a post from you it's to tell us how cheaply cars are being offered. Why not concentrate your efforts on a commercial site where it might have some purpose?

John

[Sarthe72]

I followed that one out of interest, and the selling price was probably down $100,000 on 2018 prices. But hey, we here are enthusiasts aren't we? As I have often said, in 1990 my car was worth £25,000, in 1991 £75,000, and in 1992 £25,000 on a good day. I missed roadster #22 at auction then; completely restored with bills for £60,000, it sold for £22,000. But who cares? I drove my car in the 80s, 90s and on, and it is still my car and I love it just as much now as then. The value is my kids problem, not mine.

[wagstefan]

Not sure if this will be a general issue:

Cars and prices will rather divergate. Good (e.g. well restored) and/or original and/or early cars will always fetch decent money.
Fact is, that you still need to invest 100k at least to get an E-Type decently restored. Or even more, if you go to the big and well known shops.
And check e.g. fb. There are still so many people dreaming of owning an E-Type.

But there are still some questionable cars out there with non-original parts, not decently running, and some Series / car types and body shapes are simply not that attractive. Not talking about automatic transmission cars.

Simply my humble point of view...

[Tony]

As far as I am concerned my 62 S1 roadster has nil value as it it sitting in the garage not being used during the lockdown and especially with the weather being beautiful. So it has no value to me. Just a pretty piece of metal. The wife agrees but she thinks that all the time anyway.

[inner pickle]

I probably sit as one of the most vulnerable owners on here at present, having my Series 1 2+2 restored.

I've been ripped off to the tune of several thousands by a restorer but that's my error, I live with it. I'm not flush with cash but my aim and intent was to take the car and get it to a state I could be proud of. OK that plan may have been a retirement project and upon realizing time and skills were not in the abundance I'd hoped for I opted to pay someone else to do it.

Against that in the current economic horizon I expect values to collapse simply as the margin/cost of spares and restorers to make a decent level car presentable is so high. A downward pressure on non roadworthy examples is more likely I feel.

Like it or not, having a healthy vibrant used and restoration project market source is arguably critical to a sustainable market for "better cars" to survive.

Prices: Do I care? not really, my thoughts go back to seeing the intro to Dee Time ( as a little boy !) and the back end of his e type exiting a car park. Driving my neighbours 35k miler FHC he'd just picked up via the trade in 1988 for £7500 and watching him sell it for £35,000 4 weeks later - driving it up Stanmore Hill prior to sale and nearly crying as I watched it sold.....

so when it comes to market values as has been said, my sons problem not mine, its just the joy of playing with it and ( hopefully) driving the dam thing.

Having said the above, the impact on dealers who have their own or financed stock of "super-cars" is something the market can reflect on, anyone here still want to put £500K into Aston Martin?

[1954Etype]

and that is the exact reason for owning/buying one. I am not seeing a major price correction on the cars we deal with. I also see the right cars being sold for very good money - they aren't normally advertised. The normal rubbish that gets hawked around auction/auction sites will always be hard to sell but good cars are hard to find and when you do, are expensive.

We are looking for 2 cars to buy (and another enquiry today) all with the right budget but can't find anything and certainly nothing cheap!

[1954Etype]

Just been sent this link....

1962 Jaguar E-Type Series 1 3.8-Litre Roadster


Pre auction estimate $160,000 - $180,000


RM | Online Only - DRIVING INTO SUMMER 21 - 29 MAY 2020 - Auction Closes on 28 May 2020


On line only auction in US final bid $195,000 (plus buyers commission @10% = $214,500)


https://rmsothebys.com/en/auctions/0120 ... paign=0120