Harry's Garage Silverstone auction GS in sale.

Contigo

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It means that true petrolheads can now get into the cars they want. The market is in a correction phase right now that is for sure. My mate won the NSX, I'm made up for him!
 

Felonious Crud

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I’m glad i didn’’t buy an Aston or McLaren, I’d have lost my shirt by now.

Absolutely right. I'm glad I got my Vantage for a superb price, but having been foolish enough to actually use it it's still plummeted in the (nearly) three years I've owned it. You see a few around for not much less than I paid for mine, but no idea if they sell. Generally, I prefer not to look.

Mclarens are still used car the bargain of the century (caveat emptor, obvs).
 

TimR

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It means that true petrolheads can now get into the cars they want. The market is in a correction phase right now that is for sure. My mate won the NSX, I'm made up for him!

Yes and no frankly...
it depends whether the seller can bring themselves to let go and embrace the reality. The GS ( and auction overview ) shows that many are not..!??!
 

Felonious Crud

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Yes and no frankly...
it depends whether the seller can bring themselves to let go and embrace the reality. The GS ( and auction overview ) shows that many are not..!??!

I think you're right. You only have to see the number of unobtainable / preferred customer only specials that are for sale to realise that they're not that easy to shift unless the price is right.

12 Pistas
36 Speciales
41 Superfasts
12 Sennas
20 Aventador SVJs

Whilst I've no evidence to say they're all hanging around for a long time, that seems like a lot of seriously high-end cars on the market.
 

rs48635

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It means that true petrolheads can now get into the cars they want. The market is in a correction phase right now that is for sure. My mate won the NSX, I'm made up for him!

That was my pick of the sale. IF I was bidding of course. Spent the day working instead. Be nice to see you and your mate at a forum meet one day.
 

Contigo

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Yes and no frankly...
it depends whether the seller can bring themselves to let go and embrace the reality. The GS ( and auction overview ) shows that many are not..!??!

Many can though and will let them go at realistic prices.
 

Nayf

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Many can though and will let them go at realistic prices.
I’m not so sure, not without taking a massive hit on finance deals.
Lots of stuff was sold on the proviso that cars will increase in value over that of the finance interest, so I hear. Some may decide to hold...
 

rockits

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9,167
I think you're right. You only have to see the number of unobtainable / preferred customer only specials that are for sale to realise that they're not that easy to shift unless the price is right.

12 Pistas
36 Speciales
41 Superfasts
12 Sennas
20 Aventador SVJs

Whilst I've no evidence to say they're all hanging around for a long time, that seems like a lot of seriously high-end cars on the market.
I can see this area of the market getting obliterated at some point in the near future. This sector has enjoyed a massive bull market for some years now and it didn't make sense in the first place and certainly won't make any sense soon.

If only you could short the price of high end collectible cars.
 

outrun

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5,017
It’s been proven previously that these kind of circumstances are the best time to buy provided you can afford to keep hold while the market adjusts. When the credit crunch happened in 2008, there was an issue with gfv on pcp deals being too high and so many cars where handed back at end of term without new ones being bought. This meant a glut of cars that had to be moved so bargains where everywhere, if you had the money to buy. For many finance houses, the have learned not to set the gfv too high now and so what’s happening is that it’s becoming better to take finance than outright purchase. The cars that fall outside of finance deals with gfv are being hit hard. In general, a car needs to be no more than 10 years old at end of term, so with most deals being 36 or 48 month, this is hitting stuff older than 7 years to so. It’s not a blanket rule as specialist finance will do deals on special stuff, like Ferrari or Lambo, but the majority are hit.

Add in all the uncertainty caused by Brexit, elections, green tech, EV, etc etc and many just aren’t changing cars. The trend moves to fixed assets like gold, bitcoin and real estate. It’s a cycle but the big difference now is the green movement leaves petrol driven cars with an uncertain future. Governments will likely use them as a way to make tax, hiding behind the green truth. How the do it, that’s anyone’s guess.

I’ve been thinking a lot about my FF, which is depreciating as expected. It’s not as bad as some other brands however it’s loosing value while I don’t use it.....with that in mind, I’m seriously considering using it far more this year. I’ve accepted losing money, how much more will i lose if i add an extra 5k miles onto it? I’m even thinking about going full bangernomics and getting a sub 5k daily for the school run etc and using the FF the rest of the time. I’ll probably save enough doing that to justify the extra drop in the FF.
 

iainw

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Messages
3,386
It’s been proven previously that these kind of circumstances are the best time to buy provided you can afford to keep hold while the market adjusts. When the credit crunch happened in 2008, there was an issue with gfv on pcp deals being too high and so many cars where handed back at end of term without new ones being bought. This meant a glut of cars that had to be moved so bargains where everywhere, if you had the money to buy. For many finance houses, the have learned not to set the gfv too high now and so what’s happening is that it’s becoming better to take finance than outright purchase. The cars that fall outside of finance deals with gfv are being hit hard. In general, a car needs to be no more than 10 years old at end of term, so with most deals being 36 or 48 month, this is hitting stuff older than 7 years to so. It’s not a blanket rule as specialist finance will do deals on special stuff, like Ferrari or Lambo, but the majority are hit.

Add in all the uncertainty caused by Brexit, elections, green tech, EV, etc etc and many just aren’t changing cars. The trend moves to fixed assets like gold, bitcoin and real estate. It’s a cycle but the big difference now is the green movement leaves petrol driven cars with an uncertain future. Governments will likely use them as a way to make tax, hiding behind the green truth. How the do it, that’s anyone’s guess.

I’ve been thinking a lot about my FF, which is depreciating as expected. It’s not as bad as some other brands however it’s loosing value while I don’t use it.....with that in mind, I’m seriously considering using it far more this year. I’ve accepted losing money, how much more will i lose if i add an extra 5k miles onto it? I’m even thinking about going full bangernomics and getting a sub 5k daily for the school run etc and using the FF the rest of the time. I’ll probably save enough doing that to justify the extra drop in the FF.
Why not do the School run in the FF?! The kids would love it! What are the rear screens for if not that?!
 

hashluck

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1,515
I’m even thinking about going full bangernomics and getting a sub 5k daily for the school run etc and using the FF the rest of the time. I’ll probably save enough doing that to justify the extra drop in the FF.

This is exactly the market we are dealing in (well sub 7Kish) - low owner, low miles unmolested petrol cars C.1995-2005. Just perfect for the school run, station car park, supermarket etc. Cost very little to run, look fantastic, get lots of admiring looks as retro cool and are an absolute giggle to drive due to their low weight and lack of nanny controls compared to modern equivalents. Also marvel in the comfort on sensible wheels and tyres. Progress? I don't think so :)
 

philw696

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25,120
The best thing we did here in France where tapping cars is seen as accepted was buying our little Renault 4.
We never lock it up runs on fresh air it's fun to drive and people like to see it.
Depreciation is zero.
I have even come back to the car and found people sat in her and the bonnet up.
What amazed me was that one of the Le Man's lot knew where the bonnet release was :)