A lot of middle aged reasonably secure folks have driven the price increases over the last few years as potentially the return of investment was more rosy than money being sat in the bank. A lot of that money could also be remortgaging.
A lot of people will be made unemployed after the furlough benefits end. I suspect your 20k Ford Escorts will be on the market soon. And the market is held up from the bottom. If the periodic crash in prices doesn’t happen soon, I’ll be surprised.
Agreed. All these baby boomers had it good and have continued to have it good until the last few years.
I suspect they could be selling assets soon to pay for high care home fees.
The XR3i stuff at £20k+ never made sense to me. The GTi-6 is still and old school hatch fairly rare now and a much better car at much lower prices. The XR3i never made sense and the XR3 was worse.
I had an MG Metro Turbo.....good fun at 20 something but a cr4p car then and even more so now so why is it worth more. For me it isn't all about rarity. It has to be a reasonably decent car in the first place.
If someone offered me a 2 year old Portfafino at £100k I still wouldn't and couldn't buy it. Firstly I haven't got £100k to spend on a car. Secondly I don't want one. Most modern supercars are just too good, boring, quiet, refined etc. to actually be what I want as a petrolhead.
Therefore who are going to buy all these cars? The market gets smaller the older they get. The biggest market they have is when they are new.