Level playing field
By George Woodward 13/06/2018
After a brief wobble late last year, the classic market has stabilised
Nick Whale, Managing Director, Silverstone Auctions believes that after a brief wobble late last year, prices have stabilised.
As usual, speculation over the stability of the classic car market continues, and it’s fair to say that, of the brands affected, Porsche was one of those that took a hit in the second half of 2017.
That aside, this particular lull occurred in a market that had shown 10 years of continual growth in values, which was becoming unsustainable in the long term. Nothing lasts forever, so therefore a normal market correction is to be expected.
By early 2018, that period of hiatus and market adjustment had settled down and the more normal pattern of true classic car enthusiasts buying and selling classic cars has returned, with values now stable and desirable, and the speculators largely gone.
Reassuringly, cars with good provenance are once again both selling well and rising in value.
As I’ve said many times before, there will always be a demand for the very best of breed for all makes of classic cars and a relatively limited supply, keeping values strong.
The auction season is well and truly under way, especially for Silverstone Auctions as we prepare for our busiest months of the year. Our annual May Sale was a great success and we are currently preparing our sales for the Silverstone Classic, with a dedicated competition car sale as well as a two-day classic car sale.
Porsches will, of course, be well represented at all of our upcoming sales, but especially so at our annual Porsche Sale, in collaboration with Porsche Club GB, which this year moves to a new venue, the stunning Dallas Burston Polo Club, in September.
If you’re looking to sell or purchase a Porsche any time soon, please don’t hesitate to contact the Silverstone Auctions team to speak to an expert or discuss valuations. I hope to see you at our summer sales.