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Auction results suggest broad based weakness

03 October 2018

Looking at the auction results of recent weeks there is no doubt that good cars with the right provenance are still making the right money, but outside of that we are seeing weakness with lots of cars remaining unsold. On the retail and trade market we are seeing lots of cars sitting on the market and having their prices tweaked lower due to a lack of interest. A lot of this is simply down to cars being overpriced. The demand is still there, but there is no doubt that people are considerably more cautious about the prices they pay. After such a strong run in the prices of many makes and models some form of consolidation is to be expected and we doubt that what we are seeing now which began for some marques three years ago will turn into something more serious. There are caveats to that and a hard Brexit for example might well mean activity next year slows activity to snail pace, but if a sensible Brexit agreement is found consumer confidence is likely to return and we might even see prices starting to creep up again, A good example of a car still very much in demand is this 1971 Ford Capri 3000E sold at Brightwells 26th September Leominster sale for a very strong £29,920 and rightly so in our view, the car looks great.