Article in NYT covering classic car market

The "glass half full" version of the headline might be: "Chris Evans sells half of his classic car fleet despite optimistic reserve estimates."

 

Good point, so reverting back to original headline spin:

Glass 1/2 empty > Glass 6/7ths empty

 

It's good for all Fcar collectors that the market slows down a bit. Classic Ferrari's in the past 12 months have done incredibly compared to commodities, stocks and bonds as well as real estate.

 

Little bit of self promoting comments from our friend SK. Of course a broker can concentrate on the best, or the best of the best, but auction houses can only live with volumes, even if from time to time they have exceptional cars to sell.

So by saying in today's market only the top of the crop will sell at good prices and are good investments, and the rest will fluctuate or go down, or you can be difficult as others will come on the market, while somehow correct statements , ignore the fact that some people cannot spend years chasing cars, some want to use them for events befor they are 85 years old ( them, not the cars) and not everyone is driving multimillion cars.

For example a competition Stratos group 4 ( and yes I have an interest, I own one, and it has a Ferrari engine) is as much fun as a Daytona group 4 ( also vested interest) on the open road ( and probably more on narrow mountain roads) . So real enthusiasts should concentrate on other interesting cars that those that are no longer affordable, and the auction houses will have to have them properly priced to ensure that their sale ratio remain acceptable by industry standards.

 

It is interesting that Chris Evans was trying to sell so many cars. He must feel that the market is tapping out. The guy probably did really well the past 3 to 4 years. I remember seeing a car show segment on him winning an auction for a 250 California for 5M+ Euros which was at that time a world record. I recently chatted with a very well known dealer in the UK. He said that cars in the range of 250K to 2M are kind of stuck in valuation for the time being and I should be realistic if I want to sell any Fcar in that range. For me this is not bad news. I rather see the prices stay stable for a while to allow me some time to trade in-out of a few cars.