While the collector car market tends most often to be viewed in terms of auction totals, there is far more to the collector car itself than a selling price. As the old Packard pitch used to say, “Just ask the man who owns one.” Or re- stores one. Or rallies one. Or shows one. Or …
OH, WHAT A YEAR!
Certainly 2011 was a year for the auction record books. Tough the January sales in Arizona saw little if any gain from 2010, Mecum made a substantial 55% jump from its 2010 Kissimmee result ($26.5 million to $41.2 million). Several notable results fol- lowed from all over the globe. Heading into August and the frenzy of Monterey, many pundits wondered whether final figures could trump the $172 million of 2010. When the hubbub was over, the grand total came to $199 million. In the process, some incredible machinery changed hands—and set records.
But beyond the market, our hobby had plenty to celebrate. De-
spite the current financial state, the outlook appears favorable as we settle into 2012.
Rick Carey
(top) and Simon Kidston (bottom) are two experts with their fingers on the pulse of the market. Carey regularly reports on auctions all over the U.S., while Kidston’s home territory is Europe.
COURTESY OF AUBURN AUCTION PARK
In the auction world, Auctions America saw great success at the Auburn Auction Park.
CLEAR AND PRESENT DANGER No matter what folks are doing with their cars these days, one question still hangs heavy: “What’s the economy going to do next?” It’s a far- reaching question, and it represents the single biggest threat to the classic car hobby worldwide. “Tis crisis has stripped out unbe- lievable amounts of liquidity from the hobby,” says Rick Carey, a veteran writer, editor and analyst who has been covering the collec- tor car market for publications like Victory Lane, Cavallino, Ferrari Market Letter and
sportscardigest.com for more than 20 years. And the burden isn’t confined solely to this side of the Atlantic. “Despite what many would like to have you believe, the classic car market is indeed influenced by the world economy.” So says Simon Kidston, president of Kidston SA, a Swiss-based collector car con- sultancy, and former president of Bonhams Europe.
WEATHERING THE STORM
Both men agree that for all the gloomy reports from Wall Street, Main Street and elsewhere, the hobby seems to be weathering the storm remarkably well. “Even with all of the economic ups and downs and uncertainty,” says Carey, “hundreds of millions of dol- lars worth of cars have changed hands, and even more than that in the private market.” Adds Kidston, “I wouldn’t say the classic car market is completely impervious, but at least superficially it has re- ally shaken off most of the troubles the economy has thrown at it.” And if auction results are the barometer to which collectors, inves- tors and marketplace professionals all look, then most people must take heart from the fact that our market has remained relatively strong. “It really is better than anybody could have expected,” says
Hagerty Magazine | 800-922-4050 39
TOP: JAKE WYAM PHOTOGRAPHY / BOTTOM: PHOTO COURTESY KIDSTON SA
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