Has the classic car bubble burst?

[Jobbo]

I think there is so much more wealth about these days and comparably few decent vehicles that there won’t really be a ‘burst’.

Conversely, there are far more supercars etc made and sold now, and old ones aren't being scrapped, so there's more supply than ever but not a commensurate rise in the number of people wanting them.

[ste]

Are those bids inclusive or exclusive of the interior that’s somewhere in the corner of Ben’s garage?

Oh he can keep that, will speed up the time it takes me to fit a climbing frame in the back.

[Sundayjumper]

...the double Mondeo Vantage are around £80-90k.

They've been dropping too. Under £70k from a main dealer, manual with bucket seats: CLICK

[Jobbo]

https://www.autoclassics.com/posts/news ... nistration

JD Classics has gone into administration. No doubt caused by ripping off at least one customer: http://www.wilmotslitigation.co.uk/blog ... assics-ltd

If, as I have seen suggested, they purported to act for him buying (at £250k) a car they had already bought in at £78k, it's not surprising the classic market has gone rampant. Buyers seem not to know the value of anything. It only takes a bit of a confidence hit for a bubble like this to pop, and perhaps JD Classics' story could do that? Maybe not on its own, but against a backdrop of cars failing to meet the guide price at auction.

[Carlos]

https://www.autoclassics.com/posts/news ... nistration

JD Classics has gone into administration. No doubt caused by ripping off at least one customer: http://www.wilmotslitigation.co.uk/blog ... assics-ltd

If, as I have seen suggested, they purported to act for him buying (at £250k) a car they had already bought in at £78k, it's not surprising the classic market has gone rampant. Buyers seem not to know the value of anything. It only takes a bit of a confidence hit for a bubble like this to pop, and perhaps JD Classics' story could do that? Maybe not on its own, but against a backdrop of cars failing to meet the guide price at auction.

Were JD charging a finder's fee on the £250k as well on the basis that they were sourcing the cars ?

[Jobbo]

Yes, apparently. I'm having a look at the judgment to see exactly what they got up to, but the background is that this chap had £40m to invest in classic cars from 2009 and despite the rising market, he suffered substantial losses.

[speedingfine]

Can you put the link up when you find it please Jobbo?

[ste]

https://www.autoclassics.com/posts/news ... nistration

JD Classics has gone into administration. No doubt caused by ripping off at least one customer: http://www.wilmotslitigation.co.uk/blog ... assics-ltd

If, as I have seen suggested, they purported to act for him buying (at £250k) a car they had already bought in at £78k, it's not surprising the classic market has gone rampant. Buyers seem not to know the value of anything. It only takes a bit of a confidence hit for a bubble like this to pop, and perhaps JD Classics' story could do that? Maybe not on its own, but against a backdrop of cars failing to meet the guide price at auction.

Wow, that doc is fascinating.

[ste]

Can you put the link up when you find it please Jobbo?

It's all in the document he's linked too. Worth grabbingn a cup of tea and reading through it.

[RobYob]

JD classics was where Jean Marc Gales escaped too after screwing up Lotus.

[speedingfine]

Yes, apparently. I'm having a look at the judgment to see exactly what they got up to, but the background is that this chap had £40m to invest in classic cars from 2009 and despite the rising market, he suffered substantial losses.

The judgement is a great read, especially the concluding page or two regarding the sale of the Mercedes