The market for project cars

[TNT!hammond]

So I’ve been looking at the market for project cars , unfortunately with a growing business my work premises where my cars are ,space is running at a premium and they have to go.

Looking at the market from the likes of eBay and Facebook where prices seem to go from one extreme to the other are the days of purchasing project cars gone? I say this only from seeing reoccurring posts not only for gt turbos ect but across the board.

When I was younger and time was there I’d have bitten at some of the 80’s and 90’s projects I see hanging on the web until thoroughly dusty nowadays or is it just the current financial market . Any thoughts?

 

[Big Steve - Raider]

I think we’re going thru an insurance crunch at the moment, and all policies seem to be going up and as a result, a lot of cars are being sold… thus prices are soft.

Don’t really think it’s a sellers market at the moment…?

 

[Renny 5]

I’ve always stood by three things when buying/selling cars.

1: cars are seasonal! people buy off roaders in the winter and track cars for the summer. If you want to buy a track car mid summer you’ll be paying a premium.

2: trends change! Sometimes classics just don’t sell because people want a new car or another example is someone’s just bought a drift car and their circle of friends want to follow suit.

3: somethings only worth what someone else is Willing to pay for it! I’ve always found there is a buyer out there for your car…. Even though it’s been up for sale for ages, they’re just waiting till you either drop the price to which they’re happy to buy it or till you remove the advertisement and they slide into your DM’s with a cheeky offer.

I do think sometimes people put stuff up for sale thinking it’ll sell instantly and I just think it does/doesn’t sell usually because on one or more of the reasons above.

 

[Steve Swan]

I wonder if interest is slowly drying up.. Most, if not all hobbies are slowly declining due to Generation Playstation. All of your above points are valid and I agree with Big Steve, that Insurance is going up , without wanting to start a load of conspiracies off, it must be because they are having to pay out and need to cover their costs. Personally I would hope that the sectors causing the issue were the ones paying, but I think it's an across the board rise, no real surprise there then.
I freely admit I am still living in the past when it comes to prices (it's an age thing) One of the reasons I raced an 8 Gordini was it was quicker across the board than a Mk2 Escort (crossflow) and was quicker on the twisty bits. True it was not worth as much as the Ford, but it was cheap and cheerful and when you may reduce it to scrap in one incident a No Brainer.
All hobbies are a spare cash type venture, so are first to take a hit when things are not easy. I have maintained all my adult life that we are storing up a massive problem in that following generations have less chance of doing certain things, home owning being the main one, also employment is not as generally secure as it once was and T&C's have only went one way since I started. I would suggest that more younger people now, instead of being out in the cold mending scrap to get them to work in the morning, are now sat in front of Netflix,Playstation or Phone, also daydreaming in the same way I did nearly 40 years ago, but without the Busted Knuckles.
The issue I see with this is that none of it is real, so you end up less connected to reality and perhaps your mental health suffers. I have considered fitting a full simulator in the workshop. I reckon I could get something pretty good for 15-20k which would let me race any car, at any circuit in the world. Thing is none of it is real, I would have to move some of the Machinery out to make space for it, and in so doing, would perhaps loose the chance to use the best skills I posses. Maybe I'll keep that one for when I'm struggling to lift heavy things. Also I'd end up with my Son wanting to move back in --- No fears....

 

[Sir jake the brit]

While I partly agree with what your saying, I'm 38 and last night was on my ps5 on gt7 till 11pm (having gone back to it since finishing the latest Spider-Man)

I spend every free penny on my silly Renault's. But most younger people I know don't care for cars, prices are stupid on most every type of car that is remotely interesting, I blame this on the generation before me having disposable and strong nostalgia urges.

I'm sorry but a Renault 5gt is not a 30k car, Nor is a mini cooper s, and don't get me started on the price of things that hoodlums from the 90's grunt 'cosseh' at.

E types are mediocre to drive, slow, don't stop, are atrocious on fuel and handle like shit...... Sure yeah, they're worth 100k. The price is fully caused by romance, nostalgia and (to quote South park) member berries.



I don't blame people having sim Racers, hook up with your mates, chat the night away for the cost of electric (once the initial outlay of the setup).
Also to say hobbies are slowly drying up, come to Sherwood pines on a weekend and count all the nutters with bikes worth up to 15k riding around getting muddy. The younger generation find passions and value in different places is all.

 

[Norwich Nick]

Don’t forget everyone thinks they’re gas monkey or wheeler dealers so want to cut the price in half before even saying hello. Guessing some of the over inflated prices are to account for this, it then sets a bench mark and triggers the “I know what I’ve got brigade“.

The other side is someone wanting to pull your pants down and then asset strips it as it’s worth more in parts than finishing as a project.

The banks and finance companies were effectively giving away free money with 0% -1% interest rates, specifically targeting the younger generation with disposable income as they can’t get on the housing market, which puts them in a new hot hatch with no need to improve it.

Like you said the other day your beemer ticks all the boxes and you don’t need to do anything with it, that’s what the new age are used to.

As said above, socialising over the internet is the new norm, no more standing around in cold car parks or garages swinging spanner’s

 

[DaveL485]

The classic car bubble we had over the COVID years (and the new car supply/demand issue) have all well and truly burst, we're headed down the other side of the hill now. Prices have taken a hard hit and will continue to trend down I think.

Add to that the absolute shit show of inflation and everyone tightening their belts its nothing like it used to be. Kids can't afford to buy a project now like we could. They can't afford...anything. In one generation we've wiped out the ability for most young adults to self sustain. Regardless of that anyway, the sort of thing you're talking about selling will go to people our age, bit more cash, bit more space, looking to relive the good old days. You wont get as much now as the last few years but there will be a market for it (assuming a R5 GTT).

 

[TNT!hammond]

Reading all of the above I do understand that the younger generation either have no money or as Nick mentions are now the latest generation to accept pcp is the new norm making newer cars more accessible rather than a fixer upper

When I first started driving most people only drove what they could buy off a forecourt or out of rags outright. There were a few who took on deals for financing but that wasn’t the general norm .

Well I’m sure to find out when the cars are put up for sale. Think I’ll take the safer approach and put them on here first before the big wide world chucks its auction bids at me

 

[Steve Swan]

I'm sorry but a Renault 5gt is not a 30k car, Nor is a mini cooper s, and don't get me started on the price of things that hoodlums from the 90's grunt 'cosseh' at.

E types are mediocre to drive, slow, don't stop, are atrocious on fuel and handle like shit...... Sure yeah, they're worth 100k. The price is fully caused by romance, nostalgia and (to quote South park) member berries.

Amen.
Funnily Enough an E-type was my dream car as a young man. Then I started competing and discovered my Funny Little Renault was 7 secs Quicker up the hill than them. Competing was the thing that changed my mind about cars in general. I am happy to run around in any old trash as long as the heater is good and the Radio acceptable I'm fine. I don't live in my car, so don't need any of the added on drivel that seems to be everywhere on newer cars. You must not give me anything fast on the public roads as I would only get myself Banned. These days I find I never exceed the speed limit, yet half of the world is still in the way.
My son does a bit of online racing and has gone past the public lobby stuff into invitation stuff, he says its great as there are no Rockets allowed and the racing is mostly clean. I've watched him and honestly don't think my reactions are fast enough, certainly not at the level he is at.
Back to projects The scrappage scheme took a lot of stuff out of circulation and no mistake, my guess is there will be another one in the near future, to try to persuade the people sitting on the fence about new stuff, to buy a new car. I don't think I'll be one of them. I keep thinking about an Early Landy 90 with Galvanised bucket finish running on whatever I can find to put in it until Either I die or it gets Legislated off the road. Need something to pull the trailer. Mind you I think saying Landrover to an insurance man is a red card scenario............

 

[Sir jake the brit]

Amen.
Funnily Enough an E-type was my dream car as a young man. Then I started competing and discovered my Funny Little Renault was 7 secs Quicker up the hill than them. Competing was the thing that changed my mind about cars in general. I am happy to run around in any old trash as long as the heater is good and the Radio acceptable I'm fine. I don't live in my car, so don't need any of the added on drivel that seems to be everywhere on newer cars. You must not give me anything fast on the public roads as I would only get myself Banned. These days I find I never exceed the speed limit, yet half of the world is still in the way.
My son does a bit of online racing and has gone past the public lobby stuff into invitation stuff, he says its great as there are no Rockets allowed and the racing is mostly clean. I've watched him and honestly don't think my reactions are fast enough, certainly not at the level he is at.
Back to projects The scrappage scheme took a lot of stuff out of circulation and no mistake, my guess is there will be another one in the near future, to try to persuade the people sitting on the fence about new stuff, to buy a new car. I don't think I'll be one of them. I keep thinking about an Early Landy 90 with Galvanised bucket finish running on whatever I can find to put in it until Either I die or it gets Legislated off the road. Need something to pull the trailer. Mind you I think saying Landrover to an insurance man is a red card scenario............

I've said to a few people if they were to fully ban petrol(isn't going to happen) I would be done with the interest. Bird watching would be my new thing. Something else that can get out of hand and become very pricey, that and computer games But as it stands i'm bored of everything released in the last few years. Auto boxes, auto park, self drive, plastic toss. What's the automotive version of Bah humbug

 

[DaveL485]

I've said to a few people if they were to fully ban petrol(isn't going to happen)

Even if they legislate fossil fuels out of new cars by the time its out of the mainstream there will be a sustainable replacement we can use for classics. Although its more likely we'll mostly be brown bread by then, just on age.

 

[Big Steve - Raider]

Even if they legislate fossil fuels out of new cars by the time its out of the mainstream there will be a sustainable replacement we can use for classics. Although its more likely we'll mostly be brown bread by then, just on age.

You buried in a 21, and me in a 5 somewhere...

 

[fredsta]

Im just hoping that synthetic fuels will develop further and come through to save the game: Porsche to put eFuel on sale by the end of the decade

 

[Norwich Nick]

There was a guy at the UEA who developed a sustainable renewable fuel source, he disappeared along with his research (as far as I’m aware). I don’t mean in a mob type way, just paid off by a big energy company. Never heard anymore about it.

I also meant to say, maybe @TNT!hammond most people now have the same space issues, how many new build estates have gone up, they’re not renowned for large garages and drive ways. Maybe younger people can only get on the housing market with a new build scheme, which has also limited the amount and type of projects people can do themselves.

 

[DaveL485]

just paid off by a big energy company

Much like the petro industries spent a fortune on scaremongering about nuclear power - because they knew it was safe clean alternative that would damage their margins. Ridiculous.

 

[andybond]

the UEA

Is this place near the UAE ?

 

[Norwich Nick]

Is this place near the UAE ?

Oops, University of East Anglia for the none locals. Apologies if I’m even more incoherent than normal, codeine can do that!