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Car Sales

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

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 anyone 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.

As prices are at an all time high this will lead to fewer buyers, as now fewer 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 to lead to fewer buyers, meaning there are now fewer 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 fewer 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 to advise on board yet always stay diligent in this ever-changing and perplexing market.

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Press

Classic car sales magazine article

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