Cv19 and car prices

[Jecks]

Where do you see car prices heading with the current and impending financial crisis we and the world are facing. Odviously down but by how much. I personally think there will be a massive drop For the rest of this year until thing hopefully settle back to some sort of normality
As a small example two cars I’ve been watching fell1k each yesterday.

 

[Enda]

Stick your reg into WBAC. Make sure you are sitting down first!

 

[Coog]

Stick your reg into WBAC. Make sure you are sitting down first!

Wow its 60% of where it was a couple of weeks ago.

 

[Enda]

I’m only hearing it 2nd hand but apparently there has been a huge slow down at auctions the last couple of weeks.

 

[Lyons]

Can you really see dealers dropping prices considerably?

 

[acsmyth]

Charles Hurst have stopped their car buying service completely.

 

[Loggie]

Could see it being a bigger drop if we were getting to the end of the year and there was still a lot of 2020 registered stock sitting

 

[MarkM]

Stick your reg into WBAC. Make sure you are sitting down first!

More a reflection of them not wanting cars unless you’re giving it away imo auctions will be dead.

 

[Jecks]

I read yesterday some of the mainland auctions were transferring to online bidding only later this coming week, though you could obviously view beforehand. Could be hearsay though.

 

[Father Stack]

Can you really see dealers dropping prices considerably?

They could well have stock sitting they can no longer get rid of. I'm waiting to see if BMW announce any wonder deals on an M8 because nobody wants them. I'll happily pay £40k for one......

 

[trev 1515]

No one has any idea how we will come out of this, were prices will be, Will classics plummet? No one knows and I’m sure for most it’s the least of our concern

 

[Enda]

They could well have stock sitting they can no longer get rid of. I'm waiting to see if BMW announce any wonder deals on an M8 because nobody wants them. I'll happily pay £40k for one......

was thinking the same about a M5!

 

[Martyn]

Holy f3uk.,,, 12k lost in one week using we buy any car...

I’ll be holding on to it!

 

[Lappintyre]

Wonder long this will last though...the fact that manufacturers have all but ceased making new cars, at some stage, hopefully in nearish future, people will want to change again. I’d guess that fresh well looked after or ‘nearly new’ 2nd hand should pick up.

Not often I’m an optimist, but when you’ve got one for sale it’s amazing what you can convince yourself of

 

[Burt2000]

I could see a lot of dealers probably scaling things back temporarily and avail of the government grants and offer to pay wages rather than sell stuff for cheap, I may be wrong though.

 

[Jecks]

I’d read falls on wbac between 40-60%

 

[Jason]

Used car figures are remaining the same, values are strong

 

[Lyons]

Aye, just with no one buying them!

 

[Jason]

Aye, just with no one buying them!

Still some going out, sales down 33% for NI

 

[NickR]

£5800 drop in my WBAC price in the space of a week

 

[Jecks]

How about a 2010 997.2 turbo for 27k

Sales down 1/3 and this whole thing is only starting

Wonder what the 2 x 911 turbos and the GT3 RS going through Wilson’s this week will make, and what they will be worth in 12 months.

For example the 2010 997.2 turbo Is showing on wbac as 27k !

 

[syecadelic]

WBAC work off CAP value for their estimations, they are basically taking the CAP figure at slashing it by 50%.
im praying things dont go too south, or im out of a job =(

 

[Cooper]

Fair to say the trade has all but dried up. You'll bag a bargain of course, but as no doubt nearly everybody's plan is to baton down the hatches very few transactions are likely to take place. Not a car, but had some parts on order for the Lotus from the US. Held up by component supply from China (unsurprisingly) and I thought you know what, I can afford it but would rather have the money in the back pocket. Priority shift to protecting the essentials.

One of the new world effects is bound to be the righting of the classic car price ship that has been careering off course for years.

 

[Lyons]

Does this mean I’ll be able to get a mint Escort Cosworth for sub £20k again?

 

[Coog]

Does this mean I’ll be able to get a mint Escort Cosworth for sub £20k again?

You'll be doing some retrofitting to get one of those up to your required spec.