Why have the classic car sales market slowed up now that interest rates are up?

Classic Jaguar E type for hire or rent and a true british classic
Classic Jaguar E type for hire or rent and a true british classic

Over the past few years we have witnessed the classic car market explode in value, with a Bugatti EB110 and a Ferrari F40 once being worth a respected 165k and 200k yet to get hold of any one of these majestic machines  now will cost you over seven figures. So what has happened to the classic car market? That Is the question on the mind of many classic car sellers and buyers.

classic cars at goodwood revival 2017
classic cars at goodwood revival 2017

As prices are at an all time high this will lead to less buyers, as now less people can afford the cars they once could have comfortably bought. This had lead to a lot of speculation and uncertainty in the current market, as many buyers are unsure if the car they are purchasing will be a worthwhile investment, so henceforth this has lead to fewer buyers, meaning there are now less cars on the market, so therefore cars that were once rare and now basically obsolete now.

 

The future of the classic car market is uncertain as ever as it is so difficult to predict. But many speculators are waiting for the eventual crash which they have believed in since late 2017, but the longer they wait and more hesitant they become this still means a further reason for less buyers.

 

Although is it impossible to completely predict the future, many experts and experienced buyers believe the price in classic cars will next drastically drop before it drastically increases, but that doesn’t mean it may not slowly increase until then. So take the experts advise on board yet always stay diligent in this ever changing and perplexing  market.