Market looks to quality as sales slow

By: Unique Cars magazine

Date: 02.06.2022

Ok, so the world teeters on the brink of war, Covid still finds ways to ruin our holidays and inflation threatens to explode, so what has all of that done to the market for enthusiast vehicles? Not a lot really

The hyperventilation and contrived record-setting of the past few years will almost certainly be gone, but the factors that motivated most buyers during recent years haven’t been centred on short-term financial gain or ego stroking anyway.

Many can see the end of the classic vehicle ownership rainbow looming. They may not have lots of money but still want to maximise the time they can spend enjoying an older vehicle before fuel costs, parts shortages and tightened regulation bring restrictions.

Mainstream Australian models built from the 1950s-80s continue to attract buyers and a lot of those cars aren’t expensive. Not in relative terms anyway and especially if you managed to liquidate a large family home before the property crunch came.

For those with a big bundle to invest, specialist dealers continue to hold stocks of scarce and desirable performance models, with prices open to negotiation. Once sold, though, these A9X Toranas, high-end HDT and HSVs, GT Falcons and the odd Charger will likely disappear from the market for some years, perhaps decades, having been bought by people who want to hold their slice of motoring history for as long as possible.

In addition, the speculators who were active 6-12 months ago will have taken their windfalls and accepted that the climate for a quick profit has gone for now.

Anyone with any market awareness would know that increases to interest rates were on their way and change does influence the confidence people have in the collector vehicle market. However, a half-percent boost to the interest earned by money you might have sitting in the bank isn’t going to deter many people from converting some of that balance into four-wheeled fun.

Recent auctions have ended with not every child being handed a prize and that is how it should be. The proportion of lots failing to make their reserves has increased and clearance rates that during the pandemic could exceed 90 per cent are back at more modest levels.

Mid-year will bring several major auctions with a diverse range of affordable looking listings and nothing with a remote chance of attracting seven-digit bids.

Just days after this UC edition heads to print, Shannons will call time on a sale headlined by a car that many Australians will not recognise; the cutest of French-made Alpine-Renault rally rockets. An Alpine-Renault won the inaugural World Rally Championship in 1973 and one also made a brief competition appearance here.

Last month's Shannons Autumn Timed Online auction was headlined by a car that many Australians would not recognise; the cutest of French-made Alpine-Renault rally rockets. An Alpine-Renault won the inaugural World Rally Championship in 1973 and one also made a brief competition appearance here.

The rarity had a guiding range topping $150,000 but it was eventually passed in. At the other end of the scale, they had a couple of Morrie Minors selling cheaply and a high-kay Torana Hatch priced at $30,000, which also passed in. 

Grays online auctions are a rolling affair and continue to push through a wide variety of affordable classics.

The majority of cars sold during recent weeks have been offered unreserved but among the standouts were a HDT VL Group 3 that topped $270,000 and tidy V8 Torana at $71,000. On the downside, a market cluttered with post-2004 Commodores and HSVs has some adjusting to do.

From Unique Cars #466, May 2022

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