Is the Classic Car Market Slowing Down?

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We provide fire extinguishers for a lot of different sections of the motorsport world and one of them is the classic and historic car market. People naturally want to make sure they have the best chance of minimising damage if a fire does break out, even during normal road driving.

We also supply race spec extinguisher systems that are compulsory for historic racing, so we know a thing or two about classic cars. One thing has been certain for a long time: buy a classic and you will make some money. However, we have been reading recently that the market may be slowing down.

2018

A report from last year suggested that out of all the classic car models that were studied only 52% had actually increased in value that year. Now this comes from a market that was able to make the bold claim of prices growing by 192% in a decade – more than fine wines and art! So, it does seem like something is happening.

Did It Peak?

The numbers suggest the growth peaked in 2015 and has been slowing since 2017. The last Hagerty Price Guide showed the market had almost stalled completely. However, these things do go up and down so the word ‘peak’ is perhaps a little strong. For all we know, prices could well jump higher than 2015 next year.

Winners and Losers

Some of the models that seem to be losing out are the stunning Lagonda series Aston Martins, which is very surprising. Some Ferraris that were thought to be a sure thing are also suffering; the mighty Testarossa (see below) is one such model, as is the brilliantly 80s 308 GTB. In more recent years, the MK III Ford Capri saw a big rise but that too has slowed down along with the Mini Cooper.

However, there is one winner that we could have all predicted but most of us never acted on and that is the MK I Mazda MX5. 89-94 1.6 models have seen an 8.5% growth over the last year, which is pretty amazing. The photo above is a British Racing Green beauty from 1990.

Anything British post 1994 has a lower powered engine so is best avoided. This cracking little car seems to be bucking the trend, perhaps because it’s so much fun to drive or maybe it’s just growing into a real classic and people are getting interested.

Whatever is happening is irrelevant for many people, ourselves included. We love classic cars and it really isn’t about the money. If anything, a drop in prices might be a good thing, and many cars that have been whisked away into temperature monitored storage might be sold and come out to play again, so we can all enjoy them!

Ferrari 512B testarossa Car

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