other, sometimes inexplainable, esoteric factors. If you do not understand this complex process, you will not appreciate that the market is no longer a place for the amateur speculator, despite past years of apparent relentless upward moves in pricing.
We have witnessed the market settling into a more sensible rhythm. Professionally restored cars, in immaculate “as new condition” will still fetch a significant premium over the same well maintained un-restored car. Collectors are reconciling the real cost of restoration to bring a car to “as new condition” again, but there is little doubt that the best cars are still in demand.
However, one notable feature in evidence today is client behaviour. Once a collector has assembled their dream garage, or bought the car they have always been looking for, they are unlikely to sell again quickly. The very best cars are increasingly being horded, so there is less good stock in circulation now and that is true more than ever. That has taken the edge off the upward trend as the good cars are just not coming up for sale. We have not seen a wholesale unloading of stock into the market from fearful collectors, and if anything, the desire is to hold on to the top cars as they still represent a robust store of personal wealth in uncertain times.
1974 De Tomaso Pantera
Looking ahead, from our perspective, there is some comfort that the market has settled a little. It is a healthy and natural market process. Constantly rising prices raises the possibility of a sharp correction which in turn can create an overreaction, and that is something to be avoided.
I don’t think we have reached this stage yet, and nor is it an immediate concern, however a little bit of levelling off, I think, is undoubtedly a healthy thing.
CLASSIC CARS
CVS ARE SPECIALISTS IN THE FOLLOWING AREAS :
• Leather dye / Repair specialists • Chrome work
• Full vehicle refurbishment and refinishing programme
• Alloy wheel refurbishment
• Convertible hood protection and replacement
AFTER 22 Rouge Bouillon, St Helier, Jersey li J Telephone: 01534 618878 • Mobile: 07797 715898 20/20 Our Money Page 17
1974 Jensen Interceptor Mk 111
BEFORE
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