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Originally Posted by XC90Mk1
Is the bubble now bursting? Just been onto car and classic and noticed vehicles which I remember been advertised at very very high prices in first lockdown, over 2 years ago!!!!!
the rather nice Garnet red S90 has covered 9 miles on the next 2 MOT in total! Clearly a nice car that would sell if priced sensibly.
The first hit is the equally lovely Blue estate, down from £6,750 to £4,500! Over 2k off a 4.5k car shows this was well overpriced. Up 7 miles in 2 years, funnily it went down 5 at last MOT.
Host of others on there for 2 years also!
These are clean low owner cars that would always sell if priced normally. However whilst I would not be put off them now, I would not pay strong money now (or even fair) for something that’s done 6 miles in 2 years!
Think of the calipers, bushes and rubbers etc.
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That is really interesting information, thank you.
I keep an eye on the market, but only for Amazons and 240s really, and I'd say the market is definitely softening for the later 240s. I'm still not convinced the £10,000 to £15,000 were ever selling (although we have had correspondents in the 200 series corner claiming they could polish sufficient shine into their motor cars to sell them for that much). My opinion is that 30ish year old 240s top out at £6,000 but they have to be near perfect to achieve that much.
It is hard to say whether the softening has affected historic cars yet because we see so few 244s and 245s to garner data. My feeling is that it probably has, the historic car premium is still worth 50% to 100% on later cars, but the starting figure is lower.
I agree with you that there is little point over-pricing a motor car such that it is on sale for 2 years or more (although we frequently see that). In that time the car will continue to dilapidate and will cost perhaps £500/year to tax, insure and have MoT tested.
Just my thoughts - now it is time for Bob's first walk :-)
Alan