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2 months ago

Hagerty Insider Issue 5

  • Text
  • Insider
  • Unrestored
  • Gooding
  • Hagerty
  • Restored
  • Tires
  • Ferrari
  • Restoration
  • Monterey
  • Evaluation
  • Chassis

THE VIEW FROM EUROPE THE

THE VIEW FROM EUROPE THE GREAT DISQUIET Brexit anxiety roils the market. BY JOHN MAYHEAD 24

THE VIEW FROM EUROPE The affordable sector of the market, buoyed by a younger generation of enthusiasts, a booming event calendar, and a thriving online scene, seems set to continue. KTSDESIGN / SCIENCE PHOTO LIBRARY Here in Britain, we’re on a voyage of discovery. We’re traveling through unexplored territory, our maps blank, feeling our way forward as we go. The wind has just dropped and the fog has descended. We have no idea what is ahead of us: the golden beaches of a desert island, or a ferocious monster that will tear us apart. People keep asking me what lies in store for the British collector car market, whether the results from Monterey will be repeated, and what effect a hard Brexit (if it comes) will have. We’re currently in a lull before the storm. August is always a quiet time here. People tend to go on holiday, and as a result the classic car auction calendar is sparsely populated. September is different: with nine major and regional auctions, it’s our busiest month. And in October looms the possibility of an unnegotiated exit from the European Union. No matter what happens, the affordable sector of the market, buoyed by a younger generation of car enthusiasts in their 30s and 40s, a booming event calendar, and a thriving online scene, seems set to continue. Sellthrough rates at those auction houses that specialize in this sector are very strong: Anglia Car Auctions achieved an 80-percent sale rate of the 173 cars entered in its summer auction. The mid-market, from roughly £50,000 to £250,000 (,000 to 0,000) is typically the preserve of the investor. With values fluctuating, many of these people are sitting on their hands. A few have spooked and are selling, and very few are buying, as they can be more confident of 25