Classic Car Values Covid

But while covid 19 wreaks havoc elsewhere quiet winners are emerging in the classic car market. The good news is that 2020 got off to a strong start and february was the. Understanding what factors have the biggest impact on the collector car market allows us to model some of the potential impacts of covid 19.

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By all current indicators the covid 19 situation is not currently having a dramatic impact on car sales in the u s.

Classic car values covid. Classic car auctions have not been able to escape coronavirus either. The stock market and the price of oil will likely have the most immediate impact particularly on the. Gooding co s passion of a lifetime sale scheduled to take place in london on april 1 has been postponed until. Does that mean bargains galore or higher prices.

Another ferrari of the same model sold. March s sales were 44 down on the 2019 figure and in april the uk produced only 197 cars. In august 2018 three years after overall classic car prices last peaked a ferrari 250 gto sold for 48 4 million setting a new auction record. How will the covid 19 pandemic affect the value of your car.

Cars have what in financial speak is called intrinsic value so they have some residual value hatlapa s firm hagi tracks collector car prices as a financial asset class. Maybe its too early but im curious if those who follow the market closely have a sense of how covid 19 may be impacting the classic car market other than just shutting things down of course. I think rm just finished up its online only palm peach auction which may offer some data points and. Therefore as lending standards loosen or new car prices rise values for collector cars often follow.

Used car values are influenced by a wide range of factors with supply and demand as the key drivers. Demand has clearly slackened for new cars but at a time when many are feeling the pinch the used car market can often be relied upon to step up. Will car prices drop after coronavirus. However in china where covid 19 is hitting the hardest the slow down in the.

Our experts examine data from across the wholesale and retail markets to ensure that vehicles reflect the market in real time. In the new world order of cars auction houses brokers and enthusiasts are stepping forward. The answer as in so many cases is it depends.