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Surprising. I guess if you're struggling maybe it's easier to find £350 a month than £1500 in one go.
The other thing that says to me the crash is coming is the spiralling value of classics. I sold a decent 1968 911S 6 years ago for £42k and it wasn't an easy sale. Silverstone Auctions just sold one for £230k.
It's going to come tumbling down soon. The question is how soon. That S might be £275k next year. Or it might be £80k...
It's going to be an interesting ride over the next couple of years - I suspect we'll get "no deal as it's better than a bad deal", leaving us to become the tax-haven that we've threatened to become. That's going to have a huge knock-on effect, but who knows, maybe the supply-side lot are right and what you need to do to really get an economy going is to make rich people even richer, passing the mythical point at which they become so rich that spare money trickles down to the poor, allowing them to buy 60's 911's.
Dammit-
But these people aren't mega rich. They're business owners riding a wave of low interest rates, making a few hundy large a year and struggling to think of things to spend it on. Once rates rise and business slows down and they need to flog their cars to pay the bills there will be no buyers and it'll be a race to the bottom.
I don't think I'll be buying a 68 S for £42k again, but I can see them dropping below £100k in a heart beat.
Still, Stelios is giving £1bn to charity, so trickle-down might be a thing after all.
Hefty
Surprising. I guess if you're struggling maybe it's easier to find £350 a month than £1500 in one go.
The other thing that says to me the crash is coming is the spiralling value of classics. I sold a decent 1968 911S 6 years ago for £42k and it wasn't an easy sale. Silverstone Auctions just sold one for £230k.
It's going to come tumbling down soon. The question is how soon. That S might be £275k next year. Or it might be £80k...