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Classic Car market down, but LBCs OK... for now

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JamesWilson

JamesWilson

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Wall Street Journal Article on the market for classic cars. It seems to have now been effected by general economic conditions, though it notes that two LBCs the big Healey and MG TD seem to be holding their values well against other, mainly US classics....
 
Interesting take on the LBC market, James, but just wait awhile . . .

This recession is nowhere near over yet. And, I've witnessed a significant increase in the number of LBCs for sale in the usual venues such as eBay, etc.

More cars for sale will inevitably translate into reduced pricing. How much is anyone's guess.

I'm waiting to see what happens next year. It will change. :yesnod:
 
Is the significant increase when compared to the normal end of driving season sales spike?
 
I've noticed a significant downturn in parts orders recently...
 
Considering that most of the European collectors are still taking advantage of the weak dollar, I think that they are driving the classic car market more than we realize. Look at the Brass era cars. Plus, they've never really cared for muscle cars. That spike was more the result of Boomers taking seconds out on their houses so they could have their dream car.

Eight of the eighteen cars shown in the graph are American muscle, and we all watched as that bubble burst last year. Ferrari's are doing what they always do in their cycle, ramp up, and then fall. Hopefully during the low end of the cycle, I'll be able to pick up a Dino :wink: . Healeys and MG TDs have steadily climbed over the past ten years, and those, along with TR6's should hold their value well. As collectors realize that LBCs are now both beautiful <span style="font-style: italic">and</span> reliable, I think they'll maintain the value of LBCs. There might be a modest correction with our cars, but not a crash like the muscle car market has seen.

What gets me about the article is this quote:
"<span style="font-style: italic">Market watchers are bracing themselves for the next big round of high-end auto auctions in Scottsdale, Ariz., in January -- long a collective barometer of the market's condition.</span>"
Most collectors take Barrett Jackson with a grain of salt. It's basically a hyped show, not an accurate barometer of the auction market in general. Mecum is the same way. I think RM and Kruse are the houses to watch.

Then again, this is all my opinion. And considering that my mind is really focused on fried turkey tomorrow, it might not be a good opinion at all. :cheers:
 
Is there such a thing as a 1948 TD? Maybe they mean MG TC? Sure I'd love it if it was the TD but I think the TC is the more prized vehicle based on the numbers produced/remaining.
 
vping said:
Is there such a thing as a 1948 TD? Maybe they mean MG TC? Sure I'd love it if it was the TD but I think the TC is the more prized vehicle based on the numbers produced/remaining.
Click to expand...

I agree, but I think there are more TD's crossing the block than TC's. Especially since the TD was basically built for the post-war American market, and the American auction market is all this writer seems to care about.

1948 MG TD, nice catch. :thumbsup:
 
There are more TDs crossing the block because there are more TDs in existence. Without reading the article, I suspect British calssics are holding their value better than American classics is that American classics have been going for severely over-inflated prices. People aren't being that dumb with their money these days.
 
tony barnhill said:
I've noticed a significant downturn in parts orders recently...
Click to expand...
That is because Dale has replaced everything 6 times already, and I order most of my parts from the UK.

Also, there is an interesting note on the Canley Classics web site, it seems that with the recent sharp drop in the value of the pound, they have been swamped with orders from outside of the UK.
 
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