Classic car prices

[Ron&Gill]

I was just looking at a UK classic car magazine. There’s a ’67 T34 daily driver in there for GBP 4750, a couple of fine looking Beetles for GBP 1300 and GBP 750 and a single cab splitty for GBP 12500. The Brits have been complaining about this for a while already.

Why this outrageous disparity? Not rarity, since a T34 is much rarer than a splitty. Certainly not comfort or versatility, because surely, as a classic car, even a Beetle is more versatile. I suppose it is pure demand. I wonder when the bubble is going to burst…

[eben]

Because its "in fashion". There are people who will drive any ACVW's despite of what others think because they have their own opinions... and those who drive it because its in fashion and they have the need to be "in" whatever the cost.

[karmakoma]

One thing that amazes me, and maybe I am wrong, I was under the impression, that with the current global economic downturn, we will see some bargains popup locally and perhaps overseas, as people struggle, they might be forced to sell their classics. This would also be mostly done to get a quick sale, potentially lowering the price. But so far this does not appear to be the case?
What do you guys think?

Ron, I also thought the T34 would be more valuable due to its rarity, checked the local and international prices about 5 years ago when I was offered one (for R10k no less, in 85% restored condition), I decided against it, yes Idiot I know, but still, the prices seem to have not gone up too much.

One thing though, should the T34 come into "fashion" (as Eben so aptly puts it) - one day, you can be sure that it would command a ridiculous price, as there are so few of them. So hold on to yours, you never know.

[Dirk]

I have found the exact opposite Karma.

Guys now tend to hold on to their Beetles and Nissan 1400 Bakies, exactly because the economy is screwed.
They do a modicum of research and quickly realize that maintaining and using their classics is easier and cheaper than getting and maintaining a new car.

I take myself for example. I have bought three running cars in the last year, add to their prices the amount I've spent in tools and parts and I'm still better off than someone who bought a new City Golf in Jan last year.
One day when I have time, I'll actually set up a spread sheet of costings and prove it.

And that's just in price and maintenance. It doesn't even consider devaluation of the new car. I could spend exactly what the guy with the new City Golf spends and I'll still be ahead with a factor equal to the depreciation,
of his Golf.

[karmakoma]

and I am pretty sure your beetle will go through a city like a hot knife through butter..