What Will Happen To Classic Car Prices?

People buy classic cars for one or more of a number of reasons. Some will buy such a vehicle to restore it. Others will buy one that is in excellent condition to take it out for a run on a lovely Sunday afternoon. A number of other classic car enthusiasts will buy it as an investment often keeping it in a garage out of sight of other people hoping that it will rise significantly in value so that they can sell it for considerably more than they paid for it in a few years time.

Those people buying a classic car as an investment are obviously taking a risk as there is absolutely no guarantee that the value of their new purchase will rise in value. In fact, it could possibly fall in value.

If we knew what was going to happen to the price of a classic car we could take appropriate action. For instance, if we knew that a particular car was going to say double in value over a 5-year period then we would be sorely tempted to buy it. If we knew that the price of another classic car was going to fall in value then we would no doubt decide not to buy it at the moment but possibly consider buying it at a future date when the price is lower. In this respect, the trick would be to purchase it when its price was at its lowest but unfortunately nobody knows with any certainty when that date will be.

In some respects, it would be better if we bought a classic car for non-financial reasons such as purely for the pleasure of driving such a vehicle around or taking it to shows to be admired by other classic car enthusiasts. If it went up in value then that would be of only secondary importance.

If you searched on the Internet for “what will happen to classic car prices” you will no doubt come across a number of websites that make comments about this. It is quite possible that you may get a mix of opinions.


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Bonhams To Auction Interesting Classic Cars

If you are an enthusiastic classic car collector then you might wish to consider popping over the English Channel to attend Bonhams Grand Palais Sale of desirable classic cars at Les Grandes Marques Du Monde Au Grand Palais in Paris on the 7th February 2019 at the Grand Palais. It has the makings of a memorable classic car auction with a number of very interesting vehicles that will no doubt attract the attention of some serious vintage car owners.

There are a variety of classic cars that will no doubt attract the eyes of many a collector of such vehicles. Below we mention but a few: –

How about a Mercedes-Benz Gullwing with this one being built way back in 1955. It is the Mercedes-Benz 300SL “Gullwing” Coupe and it is in absolutely impeccable condition. It has featured at a large number of events including the Spain Rally FIA, the Concours Arts et Elegance Richard Mile in Chantilly and the Mille Miglia. You will need deep pockets to buy this vehicle as it has an estimated sale price of 1,100,000 to 1,500,000 euros.

You may wish to spend some time checking over a 1957 BMW 507 Series 1 that has an estimated sale price of 1,800,000 to 2,200,000 euros. Only 34 of the Series 1 were built making it an extremely rare vehicle and will no doubt attract the attention of many interested buyers.

There is a very interesting Porsche being auctioned. It is a 1950 Porsche 356 Split-Window “Four Digit” Coupe that is in fabulous condition. It is believed that there are only 30 of these in existence so it is extremely rare. It has an estimated sale price of 800,000 to 1,00,000 euros.

If the above has whetted your appetite then you may wish to get along to the auction and see if you can get a classic vehicle for your own purposes. You may well be the envy of your neighbours.

If you are investing in a classic car then you will no doubt be looking for some quality classic car insurance. Do not worry as there are quite a lot of companies that offer cover for such vehicles. You can contact ourselves and we will aim to put you in touch with one or more classic car insurance businesses with a view to obtaining a competitive quote.


                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            

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Car Insurance Premiums Rise In Q4 2018

According to MoneySuperMarket.com that is a well-known price comparison website, the average cost of fully comprehensive car insurance unfortunately rose in the last quarter of 2018. This news will no doubt disappoint some motorists including those who also drive classic cars as they may well have seen both the cost of insuring the family car and their vintage vehicle go up.

The above comparison website found that in Q4 of last year the average premium for comprehensive car cover was £514 per annum with this being some £30 per annum more than the average cost of insuring a car for that level of cover when compared with Q3 of 2018. Yes, that is concerning but it should be borne in mind that in the 4th quarter of 2017 such insurance cost an average of £574 per annum meaning that we have seen premiums fall by an average of £60 per annum over a 12 month period.

This could mean that the average cost of fully comprehensive classic car insurance has changed in similar percentage terms. If this is the case then what can the motorist do to try to mitigate this?

Well, you should not just accept the renewal quote you receive for insuring your classic car. You should shop around to see if you can get the same level of cover but for a lower premium from another provider. There are numerous price comparison websites that you can check to see how much you could insure your vintage vehicle for and it will cost you nothing to find out other than a little bit of your time. As these websites are available 24/7 you can obtain quotes at a time that is convenient to yourself i.e. on a weekend or after you return home from work in the evening.

There are no doubt some motorists who go through this process and switch classic car insurers but, when their policy comes up for renewal again in a year’s time, they do not bother to see if they can get the cover cheaper elsewhere. There is no reason why you should not go through the same process each year to see if you could save yourself some money.


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Classic Ferrari 250 GT May Fetch Over $5 million

The Gooding & Company Scottsdale Auction is to take place in the next few days and there are a number of interesting classic cars being offered for sale. One in particular may well attract an awful lot of attention.

The vehicle in question is a 1958 Ferrari 250 GT Tour de France Berlinetta and it has an estimated price of $5,750,000 to $6,500,000. It has had a variety of owners over the years and has taken part in a number of races including the 1958 Grand Prix of Venezuela where it finished 2nd overall, the 1959 Grand Prix of Trinidad where it finished 3td overall but 1st in its class and the 1959 Circuito de la Ciudad Maracaibo where it finished 2nd overall. It has also been on show at a variety of Concours events including the Ferrari Club of America International Concours Monterey in 2004 when it received a Silver Award.

This is a particularly rare vehicle as only 78 of the 250 GT Berlinetta were manufactured. It is a wonderful looking classic sports car. It is one of only 36 cars built by Carrozzeria Scaglietti in the single-louver body style. The bodywork is all in aluminum. It has a V12 engine capable of producing 250.8 bhp.

In the early 1990s this classic sports car was subject to a thorough restoration process and it has taken part in many events over the years.

There are also a number of other classic Ferraris being offered for sale with an estimated sale price of $1 million plus such as a 1963 Ferrari 250 GT SWB Berlinetta with an estimated price of $6 million to $8 million.

There are many other classic vehicles being offered for sale at the above auction so the event will no doubt be well attended.  For instance, there is a 1955 Mercedes-Benz 300 SL Gunwing that has an estimated sale price of $1,100,000 to $1,400,000. It has an interesting history having been originally owned by a renowned conductor called Herbert Von Karajan.

So, if you are a classic car enthusiast then you may wish to get along to the above auction. If you require classic car insurance then why not get in touch with us and we will happily help arrange for you to receive a competitive quotation without any obligation.


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Interclassics Maastricht Historics Automobile Auction On The Horizon

If you are a classic vehicle enthusiast and you also fancy a few days in the Netherlands then why not get along to the Coys Interclassics Maastricht Fine Historic Automobile auction that takes place during the period 10th  to 12th January 2019. There are a number of interesting vehicles being offered for sale full details of which can be found on the coys.co.uk website but we mention some of them below.

How about a 1960 Austin Healey Sprite that has an estimated price of 10,000 to 15,000 euros. It is a lovely looking two seater sports car which was capable of a top speed of around 86mph. It is left hand drive. It has recently has some 6,000 euros spent on it towards restoring it. It will certainly catch the attention of passers by.

You may like to take a look at the 1962 BMW 502 V8 “Barockengel” that has an estimated price of 27,000 to 32,000 euros. It is left hand drive. It really does look a beautiful saloon. It has a wooden dashboard. Lovely looking cream coloured upholstery.

There is a great looking 1958 Jaguar XK150 Fixed Head Coupe that has an estimated sale price of 45,000 to 55,000 euros. This is believed to be a nippy saloon car with a 3.4 litre engine. It is left hand drive. It has wonderful looking red leather seats and a cream bodywork. It has new chrome wheels.

How about a 1969 MGC GT two seater sports car in blue and black leather seats. It has an estimated sale price of 18,000 to 22,000 euros. The vehicle was able to get from 0 to 60mph in 10 seconds as it powered to a top speed of 120mph making this an extremely nippy classic sports car. It has been in the same ownership since 1994.

If you fancy owning a classic car that was once in the possession of a rock star then you may wish to take a look at a 1959 Austin A35 that was once driven by Phil Collins. This has an estimated price of 7,000 to 10,000 euros. It is right hand drive and is a 4 door saloon. It has grey coloured bodywork and red leather seats.

Ferrari enthusiasts may wish to take a look at a 1973 Ferrari 365 GT4 Coupe with a turquoise coloured bodywork and lovely looking cream leather seats. It has an estimated price of 75,000 to 80,000 euros. It is left hand drive and has 4 seats. Only 524 of them were built making it somewhat rare.

If you are considering buying a classic car or already own one then why not let us help arrange for you to receive a competitive quote for classic car insurance.


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Affordable Classic Cars Auctioned

The H and H Classic Car Auction took place at The Pavilion Gardens, Buxton on the 28th November 2018. We thought we would share with you some of the classic vehicles that were sold on the day. Full details can be found on the auctioneer’s website.

A 1975 Volkswagen Beetle 1200 that had an estimated price of £2,500 to £3,500 was actually sold for £2,475. This nice looking car had had new carpets fitted and the seats had been re-trimmed.

How about a green 1966 Morris Mini Minor that had an estimated price of £3,000 to £4,000 but was actually sold for well above that figure at £6,300. This lovely car had been in family ownership since way back in 1973 and it had a very low mileage for its age at 65,146.

A great looking red 1967 MG Midget 1275 had an estimated sale price of £4,500 to £5,500 and was sold for £5,287.50. This wonderful 2 seater open top sports car has been restored in 1999 and has banjo steering wheel and fantastic looking wire wheels.

A delightful pale green 1957 Morris Minor 1000 Convertible had an estimated sale price of £3,000 to £4,000 but only achieved a sale price of £2,137.50. Apparently, it is said that this vehicle has only had two previous owners. It will no doubt look the part in the summer months with its roof down.

A 1964 Daimler V8-250 had an estimated sale price of £8,000 to £10,000 but achieved a higher sale price of £12,150. This is a low mileage vehicle for its age at 70,361. It has been in its current ownership since way back in 1980. This classic salon car is said to have been garaged.

How about a reddish 1981 Triumph Spitfire 1500 that had an estimated sale price of £8,000 to £10,000 that was actually sold for £10,800. For its age, it has a low mileage of 76,500. It has lovely looking wire wheels and has been restored. This open topped two seater sports car will look wonderful in the warm summer months especially with the top down.

Going back in time, a 1926 Talbot 10/23 Tourer had an estimated sale price of £8,000 to £10,000 but was eventually sold for £9,337.50. It has had a lot of restoration work and its 1.1 litre engine is capable of a top speed of 55 mph. What a delightful looking car.

If you fancied owning a luxury car but didn’t have a huge sum of money then a 1986 Rolls-Royce Silver Spirit had an estimated sale price of £3,000 to £4,000 but was actually sold for £5,175. This is a low mileage vehicle with only 62,131 recorded miles. It has been in the same ownership since 2007.

If you are looking to buy a classic car then why not get in touch with us for a no-obligation insurance quote.

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Small Increase In Car Insurance Premiums

According to the Confused.com car insurance price index, for the third quarter of 2018, there was a small increase in premiums of 1% when comparing the figures for the previous quarter here in the UK. Such an increase may have also been seen in the cost of classic car insurance for some motorists.

On average, motorists are paying £760 per annum for fully comprehensive car insurance with this being a rise of £8 per annum when compared with the second quarter of 2018.

Premiums in South Central England and East Midlands have, on average, risen by £18 per annum when comparing Q3 of 2018 with Q2 of 2018. However, it is Inner London where motorists are, on average, paying most for their car insurance with premiums being in excess of £1,000 per annum. When compared with the same quarter in 2017, that is a significant fall of £149 per annum.

One would hope that the average amount paid by motorists to insure a classic car on an annual basis would be lower than that charged by insurance companies to insure a normal family car.

It is important that classic car enthusiasts shop around to try to get a competitive quote for classic car insurance whether that is for a motorist whose policy is shortly coming up for renewal or someone looking to insure their first vintage vehicle. Do bear in mind that it is not always about the price of such cover but another important factor that you may wish to take into account is the claims experience of the insurance company you are considering favouring with your business. Ideally, you want to be arranging such cover at a low premium but where the insurance company will provide excellent benefits.

Here at Classics Car Insurance, we will continue to keep our readers up to date with any possible increase in premiums that they may be going to be faced with. Obviously, in many cases, motorists will have been able to monitor their premiums online. If they do go up then an option, at renewal, is to negotiate the premium for a suitable motor insurance policy.

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Classic Cars Sold For Below £10,000

Classic car enthusiasts may well already be aware that you don’t have to be a millionaire to own a classic car as there are many such vehicles that can be bought for less than £10,000. This was borne out by the H & H classic and vintage car auction that took place at the Imperial War Museum on the 17th October 2018. Below we mention some of the cars that sold for under £10,000.

A 1936 Austin Seven Ruby sold for £6,412 having had an estimated price of £4,000 to £5,000. It was a lovely looking car with green bodywork and a brown leather trimmed interior. Around 290,000 of these vehicles were built between 1922 to 1939.

A 1986 Jaguar XJ-SC 5.3 achieved a sale price of £7,987 with no reserve. This fantastic sports cabriolet has only had 3 owners with the present owner having it in their possession since 1997. There were only just over 5,000 of these cars sold.

A 1973 Triumph TR6 in need of some restoration work was sold for £4,500 having had an estimated price of £5,000 to £6,000. The TR6 was capable of powering from 0 to 60mph in a little over 8 seconds and had a top speed of 121 mph. Rather surprisingly, only just over 8,000 of these sports cars were sold here in the UK.

A 1978 Fiat 124 Spider achieved a sale price of £7,875 having had an estimated price of £10,000 to £13,000. Around 200,000 of these cars were built with this one coming over from the USA. It has a red bodywork with a black soft-top.

A 1980 Leyland Mini “Orange Crush” was sold for £6,187 having had an estimated sale price of £5,000 to £7,000. This particular car has been on Top Gear. It has only done 11,000 miles and has a 1,275 cc engine. It was originally a Mini 1000 but has been significantly adapted.

There are no doubt many other classic cars that can be found around the UK for less than £10,000 meaning that owning such a vehicle is within the financial capability of many people.

If you are considering buying a classic car then you may wish to get in touch with us with a view to obtaining a quote to insure the vehicle. You may be pleasantly surprised at, potentially, how affordable obtaining such cover can be. We look forward to being of assistance.

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Shop Around For Your Classic Car Insurance

If you are the proud owner of a classic car then it is highly likely that you will also own a modern vehicle for your day-to-day driving. Both those vehicles will no doubt be adequately insured but how often do you bother to shop around to make sure that you are getting a competitive deal on insuring your vehicles?

It is quite possible that you may check to see if you can get a better deal on the insurance covering your modern car but it is possibly less likely that you do the same when it comes to insuring your classic car. This may be because you feel that the premium you are paying to insure your classic car is perfectly affordable and may be less than you are paying to insure your modern runaround.

However, in today’s economic climate, wouldn’t you love to save some money on a monthly basis that can then be used for other purposes? If the answer is “yes” then why not shop around when you receive your renewal notice from the existing insurer of your classic cover. You may be pleasantly surprised to discover that you may be able to arrange cover for your cherished vehicle but at a lower premium than you are presently paying.

It is a simple and quick process to obtain one or more competitive quotes for classic car insurance from one or more insurance companies. One way to do this is to use the services of one or more price comparison websites that arranges all sorts of insurance or to use the services of such websites that specialise in providing quotes for classic car insurance.

Having obtained a number of quotes and compared the policy features and benefits without any obligation, you can make a decision as to what you want to do – stay with your existing insurer or move to another provider. Don’t forget, if you have obtained a cheaper quote from another insurer, why not ask your existing provider if it will match or better the premium quoted. After all, if you don’t ask you don’t get and, who knows, you may be able to save a reasonable sum of money.

So, if you are looking for a quote to insure your classic car, why not get in touch with us today and we will help to arrange such a quote. It may be to your financial advantage to shop around.

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Is It Expensive To Maintain A Classic Car?

If you are considering buying a classic car then there are a number of factors that you may feel it necessary to take into account such as how much it is likely to cost to maintain such a vehicle. As with most things in life, the cost is likely to vary based upon a variety of things.

For instance, if you buy a classic car that has been restored to a very high standard, then the cost of maintaining it may well be less than if the car is in need of a lot of tender loving care and attention. If you were able to afford to buy the likes of a classic Ferrari 250 GTO for many, many millions of pounds then the maintenance costs are likely to be an awful lot more than if you spent £5,000 on a classic vehicle.

As it is less likely that you will travel as many miles in a classic car than a modern car that you use for everyday use then it is unlikely that you will need to replace the tyres as frequently. However, the tyres for a classic car may be rather special and therefore may cost more than tyres for a modern vehicle.

If you are a classic car enthusiast who enjoys servicing your own vehicle then the maintenance costs are likely to be less than if you need to employ the services of a classic car mechanic. Some owners prefer to use the services of a mechanic who specialises in looking after classic cars. It is worth bearing in mind that if you are looking for your car to only use original parts then these are likely to cost more than if copied mechanical parts are used.

You may wish to join a classic car club that only has members who own a make of classic car that you own. One of the potential benefits is that you may be able to get some help in maintaining your vehicle for a modest cost.

It is also worth bearing in mind that the cost of maintaining a classic car that was built in the UK may be less than that of looking after a car that was manufactured overseas.

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