As our cars age as do their owners–
Doesn’t it make sense that eventually the supply of cars will outstrip demand and many prices will decline.
I know there will always be interest but I sense this happening,
As our cars age as do their owners–
@scottholtz1029 - Aging owners will always impact the landscape of the classic car hobby. The pricing of classic cars has always had some ebb and flow, the future will be no different.
With efforts like Hagerty’s Youth Programs to promote youth getting involved and excited about classics, the future is looking up.
@Kyle and @scottholtz1029 - I’ll add to that. Even with that, main stream interests will shift. We’ve already seen that happen. Performance cars form the 80s, 90s and even 00s are starting to command the spotlight. Does that mean the market for Muscle cars or pre war antiques is over? Not really. While the spotlight has shifted to the next flavor of the day, there is data that proves that there is still strong interest in muscle and pre war cars and that values are not plummeting.
I dont doubt that there will always be interest in collector cars – and I agree that as newer cars become special interest the market will grow in that sense. But my sense of it is as the owners of cars from the 50s 60s and 70s age - there will not be the the correlating number of new buyers - hence values will at best flatten. Simple supply and demand. Only time will tell.
Looking at pre war cars which have been out of the spotlight for a while, their values are flat and have been for a while. I find that encouraging as one would expect those to be primarily collected by the pre “boomer” generations, which is sadly a shrinking group. I feel that 50s, 60s and 70s cars will likely do the same eventually.
Gotta say I agree.
I think resto-mods will slow the trend - but only marginally.
Back in the fall, I finally found one of my favorite cars for sale not too far from my home. The 1955 Oldsmobile Super 88 was owned by a older gentleman who, due to failing health had to sell it. After taking it for a test drive with my son who is a certified mechanic, and spending the better part of the afternoon going over the car from front to rear , I made a deal for the car and it was mine. Roy said that he would deliver the car to me as he and his wife wanted one more drive in her before I took it off his hands. While we were drawing up the paper work for the sale, Roy told me that he had the car on the market for over a year, and that he wanted to sell the Old’s to some one who would look after it and not turn it into a resto-mod or something that the car was not. I asked him why he sold it to me instead of one of the others who came to look at the car. Doug he said. I have a good feeling that you will look after my car. I saw how you and your son took the time to go over the car and how the two of you took the time to ask me questions about my time owning her. I have a feeling she’s in good hands. I hope that I don’t let Roy down.
A nice story that will become more common.
Prices will be pressured lower . Restomods seem to be increasingly the way people are trending. Gotta say personally I find a certain degree of restomod interesting - the trend to slam everything - not so much.
Enjoy - my Dad had a 56 brand new.
Agree with Scott and Greg. Looking at price trends is fine. But just thinking about what the kids in the late 80’s and 90’s dreamed of driving will signal what’s going to be collectible over the next couple decades. And IMO it’s going to redefine what is considered ‘classic’. Hint…the cars won’t be from Europe or the U.S.
You’re absolutely right. I Japanese collector cars have the attention of collectors under 40. That seems to be the overwhelming majority. Being part of these younger generations, I do see a small group of European car enthusiasts who love the BMW M cars, Audi S cars and the hot hatches. There is even a smaller group (me included) who loves the Americanized Holdens (GTO, G8, SS). I think these are cars to keep an eye on down the road.
Love the Holdens
Been close especially on the “GTO”.
Several Japanese sport cars are already very collectible.