The classic car market is alive and kicking, more than ever before!
Find out why getting into the classic car market in 2019 is a good idea…
As we head into our second Classic Weekend of 2019, we can confirm that the demand for classic cars and motorbikes is stronger than ever.
Just like we assumed it would, our first Classic Weekend was a fantastic success and featured four full auctions of classic bikes, American classics, European classics and our ever-popular Super Sprint online auction that features Aussie muscle and barn finds.
It proved Lloyds Auctions’ Classic auctions were back with a bang and that the market was not sleeping as many wrongly thought it was!
Why do people love classic cars?
Owning a classic car or motorbike is more like a lifestyle than just another possession. You automatically join an elite ‘club’ of fellow classics owners who have great appreciation and passion for vintage collectables, just like you!
It opens your eyes to a world of road trips, events and friendships as you become immersed in the classic car culture.
Plus, it’s true what they say… they really don’t make them like they used to! Classic cars were made so well that they truly have stood the test of time. That’s why you are still able to drive a 65 year old car today!
Unlike modern vehicles, older cars and bikes weren’t mass produced quickly and were created with a longer lifespan in mind. This also means that they weren’t able to make as many as they do today which leads to exclusivity. The rarer the vehicle, the more valuable it tends to be.
And don’t forget the memories! Classic cars were once everyday cars and many people remember their mum picked them up from school in them or doing laps in one themselves as a teenager. Reliving the good old days or fulfilling a childhood dream is why people will never stop adoring these oldies!
The culture and the quality of classics really reminds you of the best parts of being a rev head!
Why is it a good idea to buy a classic?
Firstly, a classic car is one of the best-performing assets in the last two decades. Many say the right classic cars are easily out-performing property investment and the stock market!
A brand new car loses up to 11 percent of its worth the day you buy it and continues to depreciate the longer you own it. Why own a car that drops in value? It’s not often that it’s a future classic.
Find one that appreciates the longer you keep it! Classic car investments are becoming increasingly popular, thanks to high, long-term gains and 2019 shows no sign of slowing down.
Some investors have seen up to a 17 percent rise in worth in just one year and a 500 percent rise over ten years! A double-digit return doesn’t sound too bad, does it?
Plus, you can live out your dreams, follow your passions or reach a goal and reward yourself. Not your ‘usual’ investment, classic cars bring joy to you personally and not just your bank account. They are the perfect combination of a luxury asset investment and an enjoyable collectable.
Also, the celebrity interest that Lloyds’ classics receive helps prove that the market is strong! Last year, Johnathan Thurston, one of NRL’s greatest legends, found himself the winning bidder of an Eleanor Mustang from our monthly USA Classic auction, which he paid over $400,000 for.
Why sell your classic?
When it comes to classic cars there’s so much potential to cash in. Cars in original condition, with chrome bumpers, celebrity affiliation or prominent history are the ones we see time and time again achieving record breaking amounts at auction.
For example, a four-door Holden Torana A9X was sold by us at auction last year for $365,000. The previous record for a similar vehicle was $275,000 and prior to that $165,000. Knowing the right time to harness market demand for your particular classic is always the trick! What are your predictions for 2019?
The classic car market in Australia continues to grow from strength to strength following our multi-million-dollar sales of Australian classic cars last year.
Stamping our authority on the Classic Car market, auctions saw the hammer drop on a Ford GTHO Phase III (which was once owned by Australia’s fastest bowler, Jeff Thomson) for over 1 million dollars.
We then quickly saw 1 of only 3 Ford GTHO Phase IVs sold, breaking the $2 million mark and smashing the record out of the park! Australian cars are super hot in the classic car market right now, so if you’ve got a rare HSV Commodore in the garage, now is the time sell!
American and European classic cars are following closely behind with strong international interest, especially as Australia’s dry climate makes for European classics with less rust than European locals are used to!
As shown in the last few years and particularly in 2018, the market is continuing to strengthen with the opportunity of owning an enjoyable investment showing strong growth.
Apart from passionate car enthusiasts, we have seen a lot of investors coming into the classic car market in the last 12 months. With low interest rates, investors are looking for a safe place to park their money for a good return. and classic and collector cars have proven to be a great investment.
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