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August probably is the most important auction month of the year. Cars will pass the block with a total value of several hundreds of millions. And probably 20 - 30 cars with a value well above 1 million dollar each. It's no secret the prices of classic cars have boomed over the last two decades. Some authors and researchers say that car investments were the very best of all. And also this august we will see again higher prices for some cars. Yet at the same time we will also see lower prices for several models. Price development is not only a matter of demand. There are other influential economical factors as well. Think of the art market, oil price, interest, and - more & more - environmental legislation.
Aside stong price jumps one can see more changes that took place over the recent years. In 2001 the percentage of vintage cars offered by for instance Bonhams was 35%. This year that percentage has dropped a bit under 25%. The interest for classic cars has changed somewhat in the direction of younger cars. But it's not as easy as that. Older and younger collectors in fact still are looking out for the same and similar cars: wellknown famous makes with a strong image. generally speaking cars that came out in the higher merket segment, superior bodystyles and sprts cars. The factors influencing demand are changing only very slowly and the good news of that is that the market is somewhat predictable. If you like to read and see more about the subject. The book Investing in Cars will show what happed over the last 30 years. The auction companies Artcurial, Bonhams and RM Auctions provided the author with an abundancy of high quality photos.
 
Investing in cars is written by dr. Vincent van der Vinne and is for sale at PostWarClassic.com (click here)

 

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