I notice Brightwells demand a £2500 deposit before you can bid which they hold onto (via a third party which is even worse) for up to five days if you don't buy, neither of which is acceptable. This would put me off bidding especially on a cheaper motor. A sensible, say £500 deposit being instantly returnable might be acceptable.
The economy is crashing because of appallingly bad taxation and regulation and war. Millionaires and anyone else that can are leaving the country. Historic car prices just reflect reality.
Wait for the prices too crash more and us mere peasants can get our Sieara Cosworth's again like we did back in early 2000's when u get a Q plater taxed and tested out yellow paper for couple of grand again ha ha
Utter BS - no evidence at all of millionaire leaving the country. What’s your source for this ? GB news I guess… what a total moron. All economic indicators are showing growth in the economy. Low unemployment , inflation coming down interest rates to follow. Simpletons like you shouldn’t be allowed to comment or have children
I sold two cars there including the lovely DB7 GT; I think those who didn't accept their offers with reserves too high are fools and can't read the market. What are they going to do; stick the car in barn and watch it deteriorate?
We are all waiting for the October labour budget, to see how they are going to get more money from us , recession could also be around the corner, sorry to be the sound of doom
You’re right, I have a small business selling animal feed, people have got rid of horses to be able to pay extortionate energy bills, rent increases etc…., I’ve had to tighten up loads to compensate for that, we’ve all had an absolute financial hiding over the last 4 years, we’re definitely in recession!!! I’m an ex panel beater and been selling animal feed for 14 years, this is the worst I’ve seen it🥲, one example is a customer had to sell 3 horses for a £1 each to keep a roof over her head and feed her children, she only had so much money per month like us all and the horses had to go, there’s people now tightening up when they’ve never had to before and it’s only getting worse.
Once a luxury car comes down to prices poor people can buy only the very brave and very stupid are interested in them, parts for luxury cars aren't in poorer drivers budgets but far worse is the tax and fuel economy that poorer drivers can't ignore. I think many of the cars you mentioned are hugely overpriced as they're not wanted, well no that's not fair, they are wanted they're just not feasible vehicles for the vast majority of people, we're all taxed out of them before we ever get into one.
You can add to these points the fact that you soon will not be able to drive one around because they will not meet the Euro emissions standard minimum requirements, so it will be nothing more than an expensive paperweight on your drive, assuming you have one.
I think the correct phrase is 'cheap to buy' but as we all know, buying a car is only the point were the expense starts. I wouldn't go anywhere near something like an Aston Martin, big Mercedes or Jaguar. Then you have the road tax which is killing many old but still good cars. I looked at a 2005 Nissan X Trail 2.5i but the annual road tax is £415. I really fancied a 2008 Honda Legend 3.5i but the road tax is a laughable £732 per year. I simply refuse to buy bombs for the government via road tax. I eventually opted for a Peugeot 107 which is an absolute legend of a car. I absolutely adore it but I know the size won't suit everyone. It actually feels like driving an 80s classic without the unreliability. No road tax, about 60mpg and parts are as cheap as chips. I'm in my late 50s and I can't see me buying anything other than cheap to run city cars ever again.
@@andrewwaller5913not that they aren’t money pits, but most aren’t sold because the owners put reserves on them that don’t reflect the market. Delusional about what they own and what they are getting back for it!
I dont think the economy is as bad as people say. I went back to the UK last month, 1st time in 8 years, and honestly there seemed to be a lot more money flying around than the last few times I was back- high streets full (10 years ago i remember my home town high st being desolate), coffee shops and garden centres busy, bars and pubs busy. I was really surprised tbh.
Thanks for this video, Geoff. It looks like we are witnessing the final knockings of cars built 20-30 years ago, the modern classics. They are being legislated and taxed out of being viable purchases. They won't ever be allowed to qualify as classics and so the costs of ownership are only going to escalate. Sad times.
Until a car reaches 40 years old it still pays VED even a 1.6 escort is paying £365 a year. The cars between 2001-2017 could be over £800 by next year and it's only getting worse.
I’m not in the market for a classic car but I would say the reason they are not selling is the same reason I aren’t buying a new car, or any car for that matter. I used to buy a one to two year old car every three years but I stopped doing this three years ago. On one occasion, 2008 I bought new. I now have a car that I will be keeping for as long as I can. It's in good condition, serviced and looked after. I have had it underfloor treated. Why aren’t I buying? The future is uncertain, why pay good money out for any car when we don’t know how long we will be able to get petrol or even how much it will cost. I wouldn’t put it passed this government to make an anouncement that the sale of petrol and diesel will be banned. I will never buy an EV. If they can endanger the lives of pensioners then they are caperble of anything.
Gear box is ridiculously weak in a fiat 500!no one rebuilds them as not worth putting your name too one for a warenty! My friends wife car had three scrapyard gear boxes that all lasted about 6 months each won't sell one from breakers with warenty either!
I don’t think the issue is that the classic car market is crashing, I think the bigger issue is “free gear Keir’s we’re all doomed” speech last month . He has effectively de-monetised the UK economy overnight. We all know that the budget is going to hammer the very people who are in a position to be able to afford a classic.
It’s going to hammer everyone, except the super rich, as always. Poor, middle class, and those with a decent amount of cash. Car market will follow and fall, housing too.
And the people who would go out and spend money. This government is about levelling down, citizens serve the state and success is to be confiscated. The real so called 'rich' will simply go elsewhere.
@@dylanwakley2553 My area of Cheshire also. Very strong competition for the mid to upper end (circa £1m) but weirdly stagnant at the lower end. My guess is its people downsizing and getting out of London before the next tax raid, or anticipating a softening of values in the South East.
@@Bercilakdehautdesert-yt1gd it’s a very strange market for houses that’s for certain, plenty of 3-4 bed places near me out in the countryside by themselves for around 400k, which to me isn’t too bad, but you go anywhere near a half decent city and it just goes mental
Hi Geoff, I put my Porsche Boxster S on auto trader and motorway. It’s a 2004 986 with 86,000 miles on it with a massive service history and nobody wanted it at £6k. It was in great condition. So I PX it against a Nissan Qashqai for the misses. Keep up the good work 👍
Specal case here. Was driving daily nissan leaf 8 years from new. Went to dealer to get new battery so i can drive it another 8 years...THEY DONT HAVE BATTERIES ANYMORE. TOLD ME TO BUY NEW ONE. no thanks!!!! Got honda hrv for less than 1000 quid. I still have my honda s2000(owning since 2012) on classic insurance, 300k km and still drives perfect! NO MORE EV'S. I'll turn it into home battery storage.
@@PazLeBon well...first 3 years all public chargers were for free..i drove 60k km...after that i charged in work: 3 euro per round trip compare to 12euro with petrol car... Also i only changed tires 3times, no other maintenance... it made sense back then 🙃 looking forward to take it apart
@@BillCarrIpswich i understand where you coming from. But before all these new EV's flooded market i dont recall hearing about any Leaf catching on fire... also i live in countryside so can keep it few metres away from anything. Any ideas are welcome. I would like to use it somehow, rather than selling it for very cheap.
I'm willing but not happy to pay 400 tax. Rather than 400 pounds per month to just rent some dull electric crap. Then pay luxury tax etc.Thank you Geoff youve inspired me to buy older.
The price crash was inevitable because the prices rocketed up way too far. Same will happen to housing. Cost of living, ULEZ and all the cr&p going on. Some of those cars were high mileage, collectors (including myself) like lower miles cars. Tatty worn interiors on high milers are very difficult to rectify. PLUS lower milers are more likely to have their original quality parts on. Everyone knows aftermarket parts are complete shite ⚠️ Another reason is cash flow. So many folk I know can only survive on monthly budgets so they go for lease purchase, so perhaps very few folk have no disposable capital any more.
Agree across the board. But where have the cheap old starter classics gone, they no longer exist, I saw an Allegro up for £4.5 the other day, Morris Minors and Beetles used to be a grand or so, now 3-4k will get you a snotter. The Ulez thing is a bigger issue than people perceive, basically every usable modern classic 84-2000 has been made redundant now unless you can afford to pay £12 a day extra to run it.
Totally agree and most people I know have very little disposable income anymore and household bills are more a priority for many now and classic cars have become a luxuary most can’t afford
@@eyesodd They might be up for that price but are not always selling. I think there is about 7000 moggies left so it looks as though the market is finally adjusting. Hold onto your hat you might pick up a bargain!
@@solihullman5230 True re the prices, I've been following the VW market for a while Beetles are slowly rising, buses have peaked imo. Cameras, I don't think people realise just quite how many have been put up, some roads around here will have double figures on a single stretch.
Just selling my own unused stuff on eBay tells me that many sellers universally have unrealistic, if not greedy expectations for items they’re selling. I let go of my emotions and price everything to sell quickly!
I noticed that with collectables on Ebay since the covid farce. Everyone thinks everything is worth thousands but their items remind unsold for months and even years.
@@jsanders100no, because they are very expensive to buy - way above ice counterparts. On top of that the depreciation you face is astronomical, then you can’t even sell the car for market rate because no one wants it. You’re forced to sell to companies like motorway or WBAC and take even more of a loss.
I think that time has eventually caught up with those early 2000's Astons. As they are in essence a tarted up XJS, the market is giving them all, especially the six pots a wide berth.
With potential war and huge tax rises people are scared of spending. I was considering a Porsche Cayanne mark 1, but though no I'll keep my Rover 75 as it is in perfect condition and I would only get a couple of grand for it. As for EV's at £40k new, no thanks, that's a big chunk of my life savings and its not going on a car
I dealt with this madness recently when in the market for a 986 boxster. Almost all of them listed at crazy prices (all losted for 3.5k-7k depending on condition). You look at omes which actually sold and its all 2-3k. Ended up buying one for £2200 because it had been listed for months, started at 3.5k and guy just needed it gone. Viewed one that was listed as "perfect" (it definitely wasn't when I inspected it)for 5k, and the guy wouldn't budge, saying its worth that all day long. People don't understand that their car is only worth what the market is willing to pay for it
Unless its a £1m collector car classic sale, auctions should be how to get a sale, any sale, on any old car without the hassle of dealing with the great unwashed. It's not for people trying to get retail prices, expect 75% of retail if you are very lucky. Problem is with sellers over optimistic expectations and auctions not being realistic. Yes we think its worth 400 quid and we want 15% + £150 entry cost won't get them much trade...
I'm old enough to remember when you could get an old Ferrari for £7K (early 80s). The market then went totally crazy in the late 80s before dropping back a lot (in 2000 I bought a Ferrari 328 for £33k and six years later only sold it for £25k. I guess the same car is closer to £80k now. I think when markets start to fall they can fall fast because the urgency to buy isn't there in the way it is when you expect something to cost more next month.
Brilliant vid Geoff. Fast moving, lots of cars covered. Maybe you should go to a few auctions? Take the Mac master along so he can check out the bacon butties and coffee. A winning format!!!
Are sellers just putting too high reserves on the cars? Are they just being over-optimistic on how much their car is worth, particularly after the bubble a couple of years ago?
Bang on Dave people bought high during covid now buble burst and all money people are running away from the catastrophic labour government the auction houses will be full of high end classics with all money men running away from the incoming disaster that is Keir Starmer Gonkerment!
It's the same for housing bubbles.. People could expect premiums of 10/20% on market prices during boom years (post COVID). Of course people buy at the top of the market, own the car for a while, then decide to sell to move on to something else.. At that point they're invested in the car they have to try and claw back some of what they paid..
Here in Norway there is no sign of second hand prices going down, they are just going up up and more up... A Opel Ascona B for example here now cost 20.000 to 40.000 £$€ , I bought one in 2001 for 550£$€. And Porche Boxter / Cayman cost 30.000 to 50.000 for 10 to 20 year old cars with most at 50.000 even at 20 years old...
The problem with a car that cost £150k when new and then sell's for £10k many years later, is that when it, inevitably, needs repairing the replacement parts reflect the original sale price, not the price you paid. They can be a money pit. The used E.V. market is probably going to be a bottomless pit in comparison though.
With £10,000 - £15,000 for a new EV battery the EV 's vehicle's value at 12-15 years is likely to be negative £1,500 in "government" recycling fees. So at end of life probably best to leave the car unattended in a known downtown car thievery area with a fifty pound note and the electronic keys on the console, maybe with a can of pertol and box of matches.....
Bingo! And right now nobody's buying low MPG stuff pre-budget announcement, when increases are expected. Insurance has - it seems - come down now again, but not yet to pre-2021 levels, but if fuel goes up 10% or more, then a LOT of cars will start getting SORNed...
@@OsellaSquadraCorseApparently EVs should be much more expensive to insure, as they cost more to repair, but they spread the costs across all cars, so we all help pay. And you don't want to be hit by one either.
@@chrisdstard5644 I had one with a 1.1 petrol/LPG conversion in 1982 and it was a cracking thing. If memory serves I think I got £200 for it when I sold it on with an MOT, about what I paid for it!
A great video, really informative and no need to shoot across the country for content lol let’s have lots more of this as it’s a great barometer of the country’s economy ❤
Future Geoff clip... 🤣😂🤣 I think us petrolheads are becoming extinct. My guess is the reason these cars aren't selling is because people just want modern reliable, cheap to maintain transport. People are scared of classics because of cowboy mechanics. If you don't know a mechanic, where do you go to get your car fixed for a >reasonable< price. Geoff, take a random car to an unknown mechanic and you'll see what I mean. Everyone wants to rip off clients, especially if you turn up wearing a suit.
Z3s are well known for having leaky/torn soft-tops, speed bumps can damage the fuel tank, some 1.9-litre engines fitted to 1990s cars suffered premature engine wear and rust is also possible on earliest cars, so check the rear wheelarches and sills for bubbling.
This is great Geoff, to watch, like myself this year i would normally look to exchange my car along with my motorbike, unfortunately with Ulez in force across the country. and pay per mile ready to come into the system, im afraid im going to hold on to what i have, these cars and people, i believe are not spending, simply because, the cost to drive will be to expensive, as you say the car industry is going to be destroyed, an car sales / companies are going to go bust, no one wants to spend for this government to tax us and tax us more n more!!
The entire population of potential buyers who live in the Greater London ULEZ area and the Zero Emission Zones creeping across UK like a fungus has gone Add in the demographic factors (older gits into older cars dying off and not being replaced), Road Tax bring very expensive, cost of fettling and not surprising at all
At this time Mileage is king in the classic car world of values, In Iconic Classic Car Auction a Mk1 Ford Focus RS with under 5k miles as new sold for £75k the same day in Anglia Car Auctions the same car Focus RS with 80k miles in average condition sold for £9.5k. If you are trying to sell a car in a classic car auction with 100k on it you are wasting your time, those days are long gone.
Very well presented Geoff! I enjoyed seeing some of the cars full screen, interruptions of Future Geoff was a nice touch...look forward to the next one...
I think the reason that expensive when new cars are selling cheap is because the VED is an ongoing extortionate tax on cars that were expensive when new. You can buy the car cheap, but then find the government are creaming VED even after 10 years, for the privilege of driving the car. 65 pounds a month for some cars mean that people are basically buying the cars over again and the government are the recipient. This is not about emissions, of power, but is based on the new price of the car when it was originally sold. It is a crazy system. So people drive the cars sparingly and most of the time they are on SORN.
If you compare prices to when we were coming out of the pandemic then the prices may look cheap. We are in a falling market and we do not know where the bottom is. It is a bit like saying a Fisker Ocean is a bargain.
COVID fever changed people's perception for the worse. Free money from the government made them feel rich. Reality is slowly dawning. Almost everything is overpriced and inflation should be in reverse, but the rich and powerful wouldn't like that.
Excellent video Geoff 👏 Very useful perspective of today's used car market and people's general economy. There are a few channels that report on auctions, but not in your league imo.
Having spent years in the trade, the reason cars are going through the block (auction) is obvious, something wrong with it, high mileage, it's been stuck on a forecourt for too long, Etc. Etc.
8 to 9k for that e30 is too much. Cool car, won’t give you trouble but it’s still old and not daily driver material by today’s standards and if you want a weekend car you’d get something with a more exiting engine and gearbox than that
Let me explain what geoff hasn't, theres (a)market value, just below that is (b)what people want to pay, subtract (generally) 35-40% for buyer fees, this gives (c) sale/hammer price, subtract 25-30% seller fees from (c), this is (d)what the seller gets for the car. The auction house gives the seller the big bs "we can get you (b) for it", a reserve is set accordingly, and ta dah a list of unsold, overvalued items.
Great video Geoff ,hopefully the prices keep dropping to enable true enthusiasts to enjoy these cars .Top end classic prices dropping too …most likely reflecting the everyday classics too?
good morning geoff my E38 is on 268,000 now .These videos are excellent it saves me doing it you do it i watch thanks geoff .Rover 75 ,im on the floor reclining chair in leather.
My daily Rover 75 1.8 is in lovely nick, well maintained & just clocked 200k. I'm in the ULEZ though & am nervous about the cars slender grip on compliance.
Yep, I bought a Mini Cooper D 61 plate. Free Tax, 70mpg, £24 p/m insurance. And it will go anywhere in the UK in the same time a Bugatti Veyron gets around Britain. Don’t know why people waste so much money just getting to work and the shop.
Could the reason why some of these are unsold be that insurance is insane these days!? Some of them I was like 'oh that might be worth a look' but then remember I pay £700 for an 4 year old Ecosport, so would hate to see how shafted I'd get on a fancier car.
Could be, but...if you shop around it can be dead cheap... Porsche 986 Boxsters and 944/S2 for example as a 'classic' can be £250-280, vs £500+ for a 2015 Subaru Legacy - a car with less power, less speed, less 'kudos;, full 4WD and is a wagon... Similarly TVR wedges and S-Series are even less than that.
Looking at the unsold cars they pretty much all seem to be cars that would be in the top road TAX bracket. I suspect that's a big factor in why nobody wants them.
As every year goes by, the ability the average person has in the field of Car Maintenance goes down. Back in the 60's, loads of people did all their own maintenance, and cars were simpler. These days, people take their cars to a garage just to change the oil! It's no wonder that these liabilities don't sell. If you've got deep enough pockets to maintain an exotic car, you've probably got enough money to buy a new one.
Geoff if you hadnt noticed the CV scam gave everone except Gates of Hell a 25 % haircut ! Inflation and general price hikes has killed the enthusiasta and vacationers !
Thank you Starmer and the NightMayor of London, I’ll soon be able to get a classic! Sadly, I still can’t afford any of them even the £0 unsold ones! But I’m still doing the lottery.
It's Insurance costs and when you've got a modest small engine car and your insurance goes up 200 quid a year with a good clean driving history and your elecy bills increasing by 10% it's all about economics Geoff.
when i retire, im taking 5k to one of these auctions and coming home with 4 cars !! The nissan Sunny coupe stands out, the Barchetta, possibly the 3000 jag xj sport
Just love this whiskey in glass feet up and watching a master at work and as a bonus seeing all the cars I would just love to have owned !!! Perhaps I now can ???? How cool is this must become a Geoff special lets say every Friday evening BLOODY GREAT VIEWING !!!!!!!!!!!!!OR WHAT ?????????? Then we can get back to that ass hole Starmer bet he has been given one to go with his glasses and suits ???
Thanks for this, most interesting, sadly many of the fabulous cars are worth their money BUT the maintenance cost's are rising and with many "bargains" if something goes wrong there is the main expense and getting even more expensive. Many of these great cars are worth more for the parts than they are complete, try buying new wings or engine for an Aston-Martin, BMW or some of the now very cheap to buy Bentley's. Great video, well done.
Yes, I remember about 20 years ago in the era of scrappage buyback a tory minister being caught saying the quiet part out loud "we will simply tax old cars off the roads" Old cars of course = poorer people.
unsold items is due to unrealistic pricing - same is happening with motorbikes, people are complaining that nobody wants to buy certain bikes at 2k that used to sell for 4k easy, reason being times have changed and so have folks habits - if you wish to hold on to items thinking they are investments then be prepared to lose, as with all investments
@@georgeparker7838Yep 👍 Apparently the Government are now going to help these poor migrants by buying up these old classics and giving them to them for free along with a 5 year warranty!
The trouble is they are all money pits to run, regardless of age, the fuel, tax and insurance are all high. And unless you can service them yourself, don't even ask. Some of those cheap Astons are really Jaguar clones, awful things. Some of those big old barges are from the cloth cap and string back glove brigade, an age gone by sorry.
Mercedes SLK pices - My Mum's one owner since new Silver SLK230 we had to sell for £800. With MoT. As said below: ULEZ killed it. £30 for every day driving it out of the garage. Everything worked fine. Very low mileage. (50K miles). Standard rust on both front wings.
In regards to the post about "what are younger people doing about being a car enthusiast!" I would say the issue for a lot of young people is where are you going to put that "old classic"? As a genx'er my boomer parents had a nice house with a garage and a big drive. No problem. You now take most young people still living at home, they probably live on one of those indenti-kit new estates that have room for one small car on the drive and thats it. The street parking is all taken up with the other two cars every other household on the estate has.
Interesting result here in Australia. Donningtons held an auction of motorcycles with a 97% sell rate and a couple of records set. I don't know much about the classic bike scene but rarer cars tend to be sold either through clubs or just private sales here. Sure there have been big auctions held but they are less common.
Depends on why you are driving it and what you enjoy. I hate moderns with all the electronics, sat nav all that useless crap - give me a lovely simple old MGB GT with a nicely modified 1950cc engine and a Weber side draught and I'm a happy chappy. I can fix it easily without using a laptop and there is bugger all to go wrong.
Cousin Trevor bought a Merc 300 TE estate new in the 80's , handed it back after months of them trying to stop the rain getting through the rear hatch and he bought a Porsche instead . Myself and the wife agree on the Volvo 340 being the best car offered in the auction , we owned a few in the 90's . Automatic one with the little 1400cc renault 5 engine in was " stupid " - reverse gear = speedo still worked and the car went as fast backwards as it did forwards lol . ( 55mph in reverse was my limit though ) . BUT had the Panda been a 4x4 it would have made the decision harder, the fun we had in the MK1 then the MK2 4x4's was beyond mere fun , Manby mud run ( 100ft long and 10ft deep ditch of mud ) was easy for the little Panda's . Posh guy in his new silver P38 full of of kids didn't make it - exhaust ripped off half way through sending a mushroom cloud up out of the mud as the turbo quickly followed lol . The MK1 front seats could be flipped around and used as beds , came in handy when the 2 year old daughter dislocated her shoulder and we used the front passenger seat like a stretcher with the wife sitting in the back she could lean forward to comfort her on the way to hospital - just one of those amazingly simple yet awesome cars .... Still have a 4x4 center prop in the shed as a momento lol .
I loved my XR4x4, if you couldn't afford a Cosworth, this this had an awsome engine for it's day and really stuck to the road, brilliant fixed 4wd. Kept it going until it wouldn't go any more, even having to replace some of thr drive train with identical tractor parts because you couldn't get the Sierra parts (thanks to my garage for tracking that down they are awesome)
Same in Spain, prices for 2nd hand cars are very high, though the cars themselves have been hammered. But Belgium, NL and Germany are similar to UK, better units, lower prices
the classics do go cheap at brightwells i noticed.some buy from there and put in other classic sales.mercedes 450sl i bought recently for £1800 sold at brightwells for £800
Remember the fees to add on --- For Vehicles - 12%+VAT (minimum of £150) (e.g. on a hammer price of £10,000 you pay £1,200 premium + £240 VAT to give a total of £11,440, assuming a VAT rate of 20%) PLUS Refundable Deposit £2500 ???? Put the extra fees cost on your winning bid.
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I notice Brightwells demand a £2500 deposit before you can bid which they hold onto (via a third party which is even worse) for up to five days if you don't buy, neither of which is acceptable.
This would put me off bidding especially on a cheaper motor.
A sensible, say £500 deposit being instantly returnable might be acceptable.
That's mental!
Maybe they still identify as a bunch of dodgy second hand car dealers/scam artists
the 3rd party def a no no that's an open door to your money vanishing and them taking no respons.
Had I of known of this auction I'd of partaken for the 340, however 2,500 deposit would render me unable to eat!! That's fuckin ridiculous!
@@AnnieRed66same as Dvla number plate auctions
As for the guy selling a Jag "because his wife will only allow him to have 2".
*Get rid of the wife*
@@BibTheBoulderTheOriginalOne One Wife. Livid.
John Prescott
She's too costly to get shot of
@@Judep4237beat me to it!
Keep the Jaaag
The economy is crashing because of appallingly bad taxation and regulation and war. Millionaires and anyone else that can are leaving the country. Historic car prices just reflect reality.
Yep, the country is rather fd.
Wait for the prices too crash more and us mere peasants can get our Sieara Cosworth's again like we did back in early 2000's when u get a Q plater taxed and tested out yellow paper for couple of grand again ha ha
Utter BS - no evidence at all of millionaire leaving the country. What’s your source for this ? GB news I guess… what a total moron. All economic indicators are showing growth in the economy. Low unemployment , inflation coming down interest rates to follow. Simpletons like you shouldn’t be allowed to comment or have children
Brexit has really hit exports to the EU, some areas are down 50+%
@@micksroversmg558keep,dreaming it’s all you’ve got as just a set of compo motives and new tyres are £2000 😂
Unrealistic reserve prices are why they haven't sold.
Pretty much. They always tend to be high due to the selling fees the auction house throws on those they are selling the car for.
I sold two cars there including the lovely DB7 GT; I think those who didn't accept their offers with reserves too high are fools and can't read the market. What are they going to do; stick the car in barn and watch it deteriorate?
👍 Yep 👍 These owners haven’t woken up yet to the current UK economy crises!
We are all waiting for the October labour budget, to see how they are going to get more money from us , recession could also be around the corner, sorry to be the sound of doom
@@redpoll4628 u for fkn real?
Noone has any money - and if they do, they're keeping it because they're gonna need it.
My dosh is going in the emigration fund. Fucking this place right off, it's bloody shite!
Everyone needs to keep cash also to help family paying for food and energy.
You’re right, I have a small business selling animal feed, people have got rid of horses to be able to pay extortionate energy bills, rent increases etc…., I’ve had to tighten up loads to compensate for that, we’ve all had an absolute financial hiding over the last 4 years, we’re definitely in recession!!!
I’m an ex panel beater and been selling animal feed for 14 years, this is the worst I’ve seen it🥲, one example is a customer had to sell 3 horses for a £1 each to keep a roof over her head and feed her children, she only had so much money per month like us all and the horses had to go, there’s people now tightening up when they’ve never had to before and it’s only getting worse.
The problem is the current financial system is going to get destroyed and replaced with a carbon economy so money will be toilet paper.
@@ibrstellar1080What should I do with my cash? how will the government 'swap' our cash,?
Once a luxury car comes down to prices poor people can buy only the very brave and very stupid are interested in them, parts for luxury cars aren't in poorer drivers budgets but far worse is the tax and fuel economy that poorer drivers can't ignore. I think many of the cars you mentioned are hugely overpriced as they're not wanted, well no that's not fair, they are wanted they're just not feasible vehicles for the vast majority of people, we're all taxed out of them before we ever get into one.
Indeed you can't run a champagne car on lemonade money
Its only chapagne for a few years. Then its just an old car with high bills
Stig of the dump can't be The Stig
You can add to these points the fact that you soon will not be able to drive one around because they will not meet the Euro emissions standard minimum requirements, so it will be nothing more than an expensive paperweight on your drive, assuming you have one.
I think the correct phrase is 'cheap to buy' but as we all know, buying a car is only the point were the expense starts. I wouldn't go anywhere near something like an Aston Martin, big Mercedes or Jaguar. Then you have the road tax which is killing many old but still good cars. I looked at a 2005 Nissan X Trail 2.5i but the annual road tax is £415. I really fancied a 2008 Honda Legend 3.5i but the road tax is a laughable £732 per year. I simply refuse to buy bombs for the government via road tax.
I eventually opted for a Peugeot 107 which is an absolute legend of a car. I absolutely adore it but I know the size won't suit everyone. It actually feels like driving an 80s classic without the unreliability. No road tax, about 60mpg and parts are as cheap as chips. I'm in my late 50s and I can't see me buying anything other than cheap to run city cars ever again.
its like a tenner a week ffs,
Its not buying it, its running it. Cost of fuel, tax, insurance, repairs all adds up. Money pits most of them.
Agree up to the money pit comments.
@@MarkB-33 Then explain why 50% haven't sold. Too expensive to maintain an old Jag or Aston.
@@MarkB-33 Of course they're money pits.
@@andrewwaller5913not that they aren’t money pits, but most aren’t sold because the owners put reserves on them that don’t reflect the market. Delusional about what they own and what they are getting back for it!
Love this type of content , great barromter of how bad the economy is
Or people are waiting for the October budget to find out how bad car tax will be
Better than gdp, inflation and real wages?
I dont think the economy is as bad as people say. I went back to the UK last month, 1st time in 8 years, and honestly there seemed to be a lot more money flying around than the last few times I was back- high streets full (10 years ago i remember my home town high st being desolate), coffee shops and garden centres busy, bars and pubs busy. I was really surprised tbh.
@@alfredthegreat9543 its at least twice as expensive as here, three times more in some places
Thanks for this video, Geoff. It looks like we are witnessing the final knockings of cars built 20-30 years ago, the modern classics. They are being legislated and taxed out of being viable purchases. They won't ever be allowed to qualify as classics and so the costs of ownership are only going to escalate. Sad times.
yep in Switzerland they are already banned from certain towns and you are not allowed to drive them more than a very casual amount of miles
Until a car reaches 40 years old it still pays VED even a 1.6 escort is paying £365 a year. The cars between 2001-2017 could be over £800 by next year and it's only getting worse.
It’s nuts. Why not buy a classic car, no MOT and no road Tax. Cheap to insure and ULez compliant! Also these are not classic cars, not old enough.
@@mell3109 That's why I called them modern classics, that's the term. The way things are going they won't make it to 40, unlike the Morris Marina.
@@mell3109 25 years im sure
I’m not in the market for a classic car but I would say the reason they are not selling is the same reason I aren’t buying a new car, or any car for that matter. I used to buy a one to two year old car every three years but I stopped doing this three years ago. On one occasion, 2008 I bought new. I now have a car that I will be keeping for as long as I can. It's in good condition, serviced and looked after. I have had it underfloor treated. Why aren’t I buying? The future is uncertain, why pay good money out for any car when we don’t know how long we will be able to get petrol or even how much it will cost. I wouldn’t put it passed this government to make an anouncement that the sale of petrol and diesel will be banned. I will never buy an EV. If they can endanger the lives of pensioners then they are caperble of anything.
We as a people need to fight back on this, who gave anyone a mandate to do this, NO=ONE !!!
What’s the car you kept?
Well if they ban the sale of petrol and diesel, we won't need to worry about what car to buy, we will all be dead 🤣🤣
@@GeoffBuysCars A Fiat 500 Lounge, full main dealer service history, before I retired I drove Alfa Romeo for years, cheers.
Gear box is ridiculously weak in a fiat 500!no one rebuilds them as not worth putting your name too one for a warenty! My friends wife car had three scrapyard gear boxes that all lasted about 6 months each won't sell one from breakers with warenty either!
I don’t think the issue is that the classic car market is crashing, I think the bigger issue is “free gear Keir’s we’re all doomed” speech last month . He has effectively de-monetised the UK economy overnight. We all know that the budget is going to hammer the very people who are in a position to be able to afford a classic.
The man is hellbent on destroying out culture, heritage, lifestyle and freedom. The biggest traitor in British history.
It’s going to hammer everyone, except the super rich, as always. Poor, middle class, and those with a decent amount of cash. Car market will follow and fall, housing too.
@@AI-Records24 It's obvious they're dismantling western Europe to bring in a new regime.
And the people who would go out and spend money. This government is about levelling down, citizens serve the state and success is to be confiscated. The real so called 'rich' will simply go elsewhere.
Been asleep for the last 14 years?
Thank you Geoff for doing these classic car auction videos. They are very good in my opinion.
Super interesting
Yes, very nice to see the market.
I note there were no EVs there, perhaps because they are all shite.
Same with house prices at the moment. People asking way above market and wondering why they are struggling to sell!
Sadly houses like that are not struggling to sell by me
@@dylanwakley2553 My area of Cheshire also. Very strong competition for the mid to upper end (circa £1m) but weirdly stagnant at the lower end. My guess is its people downsizing and getting out of London before the next tax raid, or anticipating a softening of values in the South East.
@@Bercilakdehautdesert-yt1gd it’s a very strange market for houses that’s for certain, plenty of 3-4 bed places near me out in the countryside by themselves for around 400k, which to me isn’t too bad, but you go anywhere near a half decent city and it just goes mental
Hi Geoff, I put my Porsche Boxster S on auto trader and motorway. It’s a 2004 986 with 86,000 miles on it with a massive service history and nobody wanted it at £6k. It was in great condition. So I PX it against a Nissan Qashqai for the misses. Keep up the good work 👍
Specal case here. Was driving daily nissan leaf 8 years from new. Went to dealer to get new battery so i can drive it another 8 years...THEY DONT HAVE BATTERIES ANYMORE. TOLD ME TO BUY NEW ONE. no thanks!!!! Got honda hrv for less than 1000 quid. I still have my honda s2000(owning since 2012) on classic insurance, 300k km and still drives perfect! NO MORE EV'S. I'll turn it into home battery storage.
at least youre admitting youre gullible. bet you were telling everyone how clever you were at the time
@@PazLeBon well...first 3 years all public chargers were for free..i drove 60k km...after that i charged in work: 3 euro per round trip compare to 12euro with petrol car... Also i only changed tires 3times, no other maintenance... it made sense back then 🙃 looking forward to take it apart
I wouldn't want to bolt a used EV battery that's been bouncing around in a car for 8 years to my house.
@@BillCarrIpswich they need to buy them back and government force them to buy them back
@@BillCarrIpswich i understand where you coming from. But before all these new EV's flooded market i dont recall hearing about any Leaf catching on fire... also i live in countryside so can keep it few metres away from anything. Any ideas are welcome. I would like to use it somehow, rather than selling it for very cheap.
I'm willing but not happy to pay 400 tax. Rather than 400 pounds per month to just rent some dull electric crap. Then pay luxury tax etc.Thank you Geoff youve inspired me to buy older.
The price crash was inevitable because the prices rocketed up way too far.
Same will happen to housing.
Cost of living, ULEZ and all the cr&p going on.
Some of those cars were high mileage, collectors (including myself) like lower miles cars.
Tatty worn interiors on high milers are very difficult to rectify.
PLUS lower milers are more likely to have their original quality parts on.
Everyone knows aftermarket parts are complete shite ⚠️
Another reason is cash flow.
So many folk I know can only survive on monthly budgets so they go for lease purchase, so perhaps very few folk have no disposable capital any more.
Agree across the board.
But where have the cheap old starter classics gone, they no longer exist, I saw an Allegro up for £4.5 the other day, Morris Minors and Beetles used to be a grand or so, now 3-4k will get you a snotter.
The Ulez thing is a bigger issue than people perceive, basically every usable modern classic 84-2000 has been made redundant now unless you can afford to pay £12 a day extra to run it.
Totally agree and most people I know have very little disposable income anymore and household bills are more a priority for many now and classic cars have become a luxuary most can’t afford
@@eyesodd They might be up for that price but are not always selling. I think there is about 7000 moggies left so it looks as though the market is finally adjusting. Hold onto your hat you might pick up a bargain!
The Ulez cameras need to come down.
@@solihullman5230 True re the prices, I've been following the VW market for a while Beetles are slowly rising, buses have peaked imo.
Cameras, I don't think people realise just quite how many have been put up, some roads around here will have double figures on a single stretch.
Just selling my own unused stuff on eBay tells me that many sellers universally have unrealistic, if not greedy expectations for items they’re selling. I let go of my emotions and price everything to sell quickly!
I noticed that with collectables on Ebay since the covid farce. Everyone thinks everything is worth thousands but their items remind unsold for months and even years.
@lord4529. Yep as the old Jewish boss l had taught me…..a percentage of something is better then a percentage of nothing!
People are greedy. Only the government, utility companies , supermarkets can get away with it.
@@Renegade-g2w That is the truth and another extremely factor is the trend towards clutter-free living and minimalism.
EBay is a shithole. Crazy prices from nutters
Nutters complaining you’re not giving it away… Even when you are!!
people want simple reliable cars with low running costs, you are right!
That Panda 750 would be so cheap to run, BUT, it's a 1988 so not yet eligible for free tax and MOT, and therefore probably not ULEZ compliant (?)
EVs then
It's cheaper to run than that Aston Martin.
@@jsanders100no, because they are very expensive to buy - way above ice counterparts. On top of that the depreciation you face is astronomical, then you can’t even sell the car for market rate because no one wants it. You’re forced to sell to companies like motorway or WBAC and take even more of a loss.
@@jsanders100 hilarious, article in telegraph this week shows how it is twice as expensive to run an ev
I think that time has eventually caught up with those early 2000's Astons. As they are in essence a tarted up XJS, the market is giving them all, especially the six pots a wide berth.
With potential war and huge tax rises people are scared of spending. I was considering a Porsche Cayanne mark 1, but though no I'll keep my Rover 75 as it is in perfect condition and I would only get a couple of grand for it. As for EV's at £40k new, no thanks, that's a big chunk of my life savings and its not going on a car
lmao
Looking at the news on telly,don't book a holiday either.
Buy a campervan and go hide somewhere in Wales or Scotland.
@@JohnFletcher-hz1mp why what happened?
War? 😃
I dealt with this madness recently when in the market for a 986 boxster. Almost all of them listed at crazy prices (all losted for 3.5k-7k depending on condition). You look at omes which actually sold and its all 2-3k. Ended up buying one for £2200 because it had been listed for months, started at 3.5k and guy just needed it gone. Viewed one that was listed as "perfect" (it definitely wasn't when I inspected it)for 5k, and the guy wouldn't budge, saying its worth that all day long. People don't understand that their car is only worth what the market is willing to pay for it
Unless its a £1m collector car classic sale, auctions should be how to get a sale, any sale, on any old car without the hassle of dealing with the great unwashed. It's not for people trying to get retail prices, expect 75% of retail if you are very lucky. Problem is with sellers over optimistic expectations and auctions not being realistic. Yes we think its worth 400 quid and we want 15% + £150 entry cost won't get them much trade...
"His wife will only let him have two jags"
John Prescott?
Plus one slag.
Stag for £250! Scrap value.
@@WeAreAllDoomed-n5i Possibly clear more as scrap?
Probably £270 scrap @@COIcultist
@WeAreAllDoomed-n5i it looked rough even from the thumbnail though!
I'm old enough to remember when you could get an old Ferrari for £7K (early 80s). The market then went totally crazy in the late 80s before dropping back a lot (in 2000 I bought a Ferrari 328 for £33k and six years later only sold it for £25k. I guess the same car is closer to £80k now. I think when markets start to fall they can fall fast because the urgency to buy isn't there in the way it is when you expect something to cost more next month.
so essentially youre a fkn mug lol
Do you recall the 3 old Italian cars on top gear? Bought for peanuts and now worth many thousands of pounds.
Brilliant vid Geoff. Fast moving, lots of cars covered. Maybe you should go to a few auctions? Take the Mac master along so he can check out the bacon butties and coffee. A winning format!!!
Oh god no please keep him away bumbling buffoon
Loving the Lots and your comments learning loads Geoff, thankyou😊
Are sellers just putting too high reserves on the cars? Are they just being over-optimistic on how much their car is worth, particularly after the bubble a couple of years ago?
Bang on Dave people bought high during covid now buble burst and all money people are running away from the catastrophic labour government the auction houses will be full of high end classics with all money men running away from the incoming disaster that is Keir Starmer Gonkerment!
It's the same for housing bubbles..
People could expect premiums of 10/20% on market prices during boom years (post COVID).
Of course people buy at the top of the market, own the car for a while, then decide to sell to move on to something else..
At that point they're invested in the car they have to try and claw back some of what they paid..
They have to put high reserves because they have to factor in auction house selling fee costs.
My guess is you will see more of these types of unsold cars, due to ULEZ and the introduction of electric cars for the future by 2030.
People wouldn’t want an old Aston if they found out the price of servicing and maintenance. In addition, DB7s are just a Jag with a different badge.
Love these new style videos in the studio Geoff, doing a great job
Skyline for £3,300 gets my vote.
Fantastic Great to see the ridiculous second hand prices finally coming down
Here in Norway there is no sign of second hand prices going down, they are just going up up and more up... A Opel Ascona B for example here now cost 20.000 to 40.000 £$€ , I bought one in 2001 for 550£$€. And Porche Boxter / Cayman cost 30.000 to 50.000 for 10 to 20 year old cars with most at 50.000 even at 20 years old...
Triumph stag :front flasher repeater lenses worth £350, Cylinder heads £1,500 then there is the rest of it!
Or just rip it out and stuff in a Rover 3.9 :-)
A 50 pence front flasher lens for £350 ??? I'm in the wrong business. I'll do it for £349.99 !!!
A rusty, automatic E30 320i with 80k miles was never going to be worth £8-9k. That is simply delusional.
Great watch Geoff. Some nice bargains in there! . ❤
I quite like those Cube cars as the guilty pleasure….
a very practical pleasure, though some parts would be a challenge to acquire
The problem with a car that cost £150k when new and then sell's for £10k many years later, is that when it, inevitably, needs repairing the replacement parts reflect the original sale price, not the price you paid. They can be a money pit. The used E.V. market is probably going to be a bottomless pit in comparison though.
With £10,000 - £15,000 for a new EV battery the EV 's vehicle's value at 12-15 years is likely to be negative £1,500 in "government" recycling fees. So at end of life probably best to leave the car unattended in a known downtown car thievery area with a fifty pound note and the electronic keys on the console, maybe with a can of pertol and box of matches.....
As a casual browser - a lot of those unsold cars were either fuel-gulpers, or high-rated insurance.
Bingo! And right now nobody's buying low MPG stuff pre-budget announcement, when increases are expected.
Insurance has - it seems - come down now again, but not yet to pre-2021 levels, but if fuel goes up 10% or more, then a LOT of cars will start getting SORNed...
@@OsellaSquadraCorseApparently EVs should be much more expensive to insure, as they cost more to repair, but they spread the costs across all cars, so we all help pay.
And you don't want to be hit by one either.
Lot 446 And Bully's special prize, a speedboat. 🎯
Quick trip with the MacMaster to Central Europe and sell it for massive profit in one of the flooded areas.
that boat was not expensive, I would have bought it, with a trailer even
Escort Estate for me. Most of the others require specialist care but that Escort is totally usable, useful and fun to maintain at home too.
Id like a MK2 escort van, but find one of those for less than 15k if at all.
@@chrisdstard5644 I had one with a 1.1 petrol/LPG conversion in 1982 and it was a cracking thing. If memory serves I think I got £200 for it when I sold it on with an MOT, about what I paid for it!
I like these videos you do as well.
Cars make us happy 😊
A great video, really informative and no need to shoot across the country for content lol let’s have lots more of this as it’s a great barometer of the country’s economy ❤
Lot 446:
"Look What You Could Have Won!!!!"
Super, smashing, great!
A speedboat?
BFH.
Future Geoff clip... 🤣😂🤣
I think us petrolheads are becoming extinct. My guess is the reason these cars aren't selling is because people just want modern reliable, cheap to maintain transport.
People are scared of classics because of cowboy mechanics. If you don't know a mechanic, where do you go to get your car fixed for a >reasonable< price.
Geoff, take a random car to an unknown mechanic and you'll see what I mean. Everyone wants to rip off clients, especially if you turn up wearing a suit.
It's the tax regime.. no one wants to pay £600 a year
im skint but tenner a week is fook all
ML Mercedes to 2010 are £700+ to tax, killed the used market.
Then you're not skint, you just justify the expense differently.
@@PazLeBon
Z3s are well known for having leaky/torn soft-tops, speed bumps can damage the fuel tank, some 1.9-litre engines fitted to 1990s cars suffered premature engine wear and rust is also possible on earliest cars, so check the rear wheelarches and sills for bubbling.
Hi Geoff have you seen the Telegraph story stating that EVs are more expensive to run . Seems like there on board with reality
I think they excluded Teslas from there figures to make it look how they wanted.
twice as expensive too
This is great Geoff, to watch, like myself this year i would normally look to exchange my car along with my motorbike, unfortunately with Ulez in force across the country. and pay per mile ready to come into the system, im afraid im going to hold on to what i have, these cars and people, i believe are not spending, simply because, the cost to drive will be to expensive, as you say the car industry is going to be destroyed, an car sales / companies are going to go bust, no one wants to spend for this government to tax us and tax us more n more!!
The investor car market was a huge bubble that is now coming back down. Geoff style regular cars appear to be holding value better.
The entire population of potential buyers who live in the Greater London ULEZ area and the Zero Emission Zones creeping across UK like a fungus has gone
Add in the demographic factors (older gits into older cars dying off and not being replaced), Road Tax bring very expensive, cost of fettling and not surprising at all
what age do i officially become a git? 30? 50? 60? 70? 80? 90?
@@PazLeBon Some are born Gits, some achieve Gitness and some have Gitness thrust upon them.
@@blogg9922 haha indeed
At this time Mileage is king in the classic car world of values, In Iconic Classic Car Auction a Mk1 Ford Focus RS with under 5k miles as new sold for £75k the same day in Anglia Car Auctions the same car Focus RS with 80k miles in average condition sold for £9.5k. If you are trying to sell a car in a classic car auction with 100k on it you are wasting your time, those days are long gone.
Sad really as rust is king, in the real world, mileage means nothing in classics.
Graham yep good body what matters milage means nothing!
I❤your 1/43 model collection at the back of the room.
Very well presented Geoff! I enjoyed seeing some of the cars full screen, interruptions of Future Geoff was a nice touch...look forward to the next one...
I think the reason that expensive when new cars are selling cheap is because the VED is an ongoing extortionate tax on cars that were expensive when new. You can buy the car cheap, but then find the government are creaming VED even after 10 years, for the privilege of driving the car. 65 pounds a month for some cars mean that people are basically buying the cars over again and the government are the recipient. This is not about emissions, of power, but is based on the new price of the car when it was originally sold. It is a crazy system. So people drive the cars sparingly and most of the time they are on SORN.
If you compare prices to when we were coming out of the pandemic then the prices may look cheap. We are in a falling market and we do not know where the bottom is. It is a bit like saying a Fisker Ocean is a bargain.
COVID fever changed people's perception for the worse.
Free money from the government made them feel rich. Reality is slowly dawning.
Almost everything is overpriced and inflation should be in reverse, but the rich and powerful wouldn't like that.
Excellent video Geoff 👏 Very useful perspective of today's used car market and people's general economy. There are a few channels that report on auctions, but not in your league imo.
455, for upcoming civil war Apocalypse....
The cup should read "Geoff is right......AGAIN!!!". Love the channel
The "again" should be on the bottom so you only see it when he takes a sip
Brightwells do have a particularly high buyer premium to add onto the sales price.
Having spent years in the trade, the reason cars are going through the block (auction) is obvious, something wrong with it, high mileage, it's been stuck on a forecourt for too long, Etc. Etc.
8 to 9k for that e30 is too much. Cool car, won’t give you trouble but it’s still old and not daily driver material by today’s standards and if you want a weekend car you’d get something with a more exiting engine and gearbox than that
I think I'd rather have the original mr2 than the Ferrari body. Not a fan of the conversion.
Clearly I'm not the only one.
The premiums at auction are putting bidders off
Let me explain what geoff hasn't, theres (a)market value, just below that is (b)what people want to pay, subtract (generally) 35-40% for buyer fees, this gives (c) sale/hammer price, subtract 25-30% seller fees from (c), this is (d)what the seller gets for the car. The auction house gives the seller the big bs "we can get you (b) for it", a reserve is set accordingly, and ta dah a list of unsold, overvalued items.
Great video Geoff ,hopefully the prices keep dropping to enable true enthusiasts to enjoy these cars .Top end classic prices dropping too …most likely reflecting the everyday classics too?
One problem with these high end cars is that they are expensive to maintain. No good having a car if you can not afford to run it.
rule of thumb was always if you can't afford to buy a new one you can't afford to run a used one
@@cliveprocter3698 Exactly and as the better off are now feeling the pinch these cars are not selling.
good morning geoff my E38 is on 268,000 now .These videos are excellent it saves me doing it you do it i watch thanks geoff .Rover 75 ,im on the floor reclining chair in leather.
Vehicle excise duty, these cars will eventually be taxed off the road.
My daily Rover 75 1.8 is in lovely nick, well maintained & just clocked 200k.
I'm in the ULEZ though & am nervous about the cars slender grip on compliance.
Love a Rover 75more of 820 Vitesse Turbo man but 75 is nice ride!
i had an 820 Sterling quite a big car .
my e46 2.8 i noticed over 250 now :)
Yep, I bought a Mini Cooper D 61 plate. Free Tax, 70mpg, £24 p/m insurance. And it will go anywhere in the UK in the same time a Bugatti Veyron gets around Britain. Don’t know why people waste so much money just getting to work and the shop.
Shame its awful and German 😂
Could the reason why some of these are unsold be that insurance is insane these days!? Some of them I was like 'oh that might be worth a look' but then remember I pay £700 for an 4 year old Ecosport, so would hate to see how shafted I'd get on a fancier car.
Could be, but...if you shop around it can be dead cheap... Porsche 986 Boxsters and 944/S2 for example as a 'classic' can be £250-280, vs £500+ for a 2015 Subaru Legacy - a car with less power, less speed, less 'kudos;, full 4WD and is a wagon...
Similarly TVR wedges and S-Series are even less than that.
That was my DB7 Gt that sold. Insurance was 260£ a year for 6000miles PA
Love these videos. I'm off to a classic auction for my next motor!
Looking at the unsold cars they pretty much all seem to be cars that would be in the top road TAX bracket. I suspect that's a big factor in why nobody wants them.
Who want to pay £800 a year in road tax to drive something old
@@chrishart8548 less than 20 quid a week, jeex i aint that fkn poor
As every year goes by, the ability the average person has in the field of Car Maintenance goes down. Back in the 60's, loads of people did all their own maintenance, and cars were simpler. These days, people take their cars to a garage just to change the oil! It's no wonder that these liabilities don't sell. If you've got deep enough pockets to maintain an exotic car, you've probably got enough money to buy a new one.
Geoff if you hadnt noticed the CV scam gave everone except Gates of Hell a 25 % haircut ! Inflation and general price hikes has killed the enthusiasta and vacationers !
Thank you Starmer and the NightMayor of London, I’ll soon be able to get a classic!
Sadly, I still can’t afford any of them even the £0 unsold ones! But I’m still doing the lottery.
It's Insurance costs and when you've got a modest small engine car and your insurance goes up 200 quid a year with a good clean driving history and your elecy bills increasing by 10% it's all about economics Geoff.
It's about creating universal poverty. An indigent population is a
vulnerable one, and must be subservient to the entities who control it.
when i retire, im taking 5k to one of these auctions and coming home with 4 cars !! The nissan Sunny coupe stands out, the Barchetta, possibly the 3000 jag xj sport
Just love this whiskey in glass feet up and watching a master at work and as a bonus seeing all the cars I would just love to have owned !!! Perhaps I now can ???? How cool is this must become a Geoff special lets say every Friday evening BLOODY GREAT VIEWING !!!!!!!!!!!!!OR WHAT ?????????? Then we can get back to that ass hole Starmer bet he has been given one to go with his glasses and suits ???
A Friday night regular would be fantastic. Just fear Geoff's natural talent will soon be snapped up by corporate media though. I'd have to buy a TV!
Thanks for this, most interesting, sadly many of the fabulous cars are worth their money BUT the maintenance cost's are rising and with many "bargains" if something goes wrong there is the main expense and getting even more expensive.
Many of these great cars are worth more for the parts than they are complete, try buying new wings or engine for an Aston-Martin, BMW or some of the now very cheap to buy Bentley's. Great video, well done.
Road tax and mpg Geoff.
5.5 SL500 V8 is £710 with 13mpg round town.
Is it ULEZ compliant 😮
In Geoff other auction video there was an SL 500 for 7000, which is think is a good price.
Maybe Bargain , a lot of car for that money...
Yes, I remember about 20 years ago in the era of scrappage buyback a tory minister being caught saying the quiet part out loud "we will simply tax old cars off the roads"
Old cars of course = poorer people.
@@boogboog8097 obviously not always especially with classics lol
unsold items is due to unrealistic pricing - same is happening with motorbikes, people are complaining that nobody wants to buy certain bikes at 2k that used to sell for 4k easy, reason being times have changed and so have folks habits - if you wish to hold on to items thinking they are investments then be prepared to lose, as with all investments
Do we need to add buyers premium to these prices?
We have a budget coming. How will the current government hit the motorist?
Hard, remember hes a wef stooge - 15 min cities and you will own nothing and be happy
You'll be safe if you travel by rubber dinghy.
@@georgeparker7838Yep 👍 Apparently the Government are now going to help these poor migrants by buying up these old classics and giving them to them for free along with a 5 year warranty!
I welded that Ferrari lookalike! I have pics too 😂
The trouble is they are all money pits to run, regardless of age, the fuel, tax and insurance are all high. And unless you can service them yourself, don't even ask.
Some of those cheap Astons are really Jaguar clones, awful things.
Some of those big old barges are from the cloth cap and string back glove brigade, an age gone by sorry.
Mercedes SLK pices - My Mum's one owner since new Silver SLK230 we had to sell for £800. With MoT. As said below: ULEZ killed it. £30 for every day driving it out of the garage. Everything worked fine. Very low mileage. (50K miles). Standard rust on both front wings.
In regards to the post about "what are younger people doing about being a car enthusiast!" I would say the issue for a lot of young people is where are you going to put that "old classic"? As a genx'er my boomer parents had a nice house with a garage and a big drive. No problem. You now take most young people still living at home, they probably live on one of those indenti-kit new estates that have room for one small car on the drive and thats it. The street parking is all taken up with the other two cars every other household on the estate has.
millennials killing the economy before they are even 30 lol
Just had tax renewal for a 1997 2.0 16v Renault that didn’t do 200 miles last year, £345.00, disgusting.
My saab 2003 is 415 but I would like a later one but after 2006 it's 710 quid ,same engine, doesn't make sence,it's just crazy.
Another great Geoff Doesn’t Buy Cars video.
Interesting result here in Australia. Donningtons held an auction of motorcycles with a 97% sell rate and a couple of records set. I don't know much about the classic bike scene but rarer cars tend to be sold either through clubs or just private sales here. Sure there have been big auctions held but they are less common.
The novelty of old money pits has run out. Cars have improved so much nowadays that driving antiquated metal really isn’t fun, just tiresome.
Depends on why you are driving it and what you enjoy. I hate moderns with all the electronics, sat nav all that useless crap - give me a lovely simple old MGB GT with a nicely modified 1950cc engine and a Weber side draught and I'm a happy chappy. I can fix it easily without using a laptop and there is bugger all to go wrong.
@@Bercilakdehautdesert-yt1gdWith speed limits everywhere, at least driving an old car makes you feel like you're going fast
Cousin Trevor bought a Merc 300 TE estate new in the 80's , handed it back after months of them trying to stop the rain getting through the rear hatch and he bought a Porsche instead .
Myself and the wife agree on the Volvo 340 being the best car offered in the auction , we owned a few in the 90's .
Automatic one with the little 1400cc renault 5 engine in was " stupid " - reverse gear = speedo still worked and the car went as fast backwards as it did forwards lol . ( 55mph in reverse was my limit though ) .
BUT had the Panda been a 4x4 it would have made the decision harder, the fun we had in the MK1 then the MK2 4x4's was beyond mere fun , Manby mud run ( 100ft long and 10ft deep ditch of mud ) was easy for the little Panda's . Posh guy in his new silver P38 full of of kids didn't make it - exhaust ripped off half way through sending a mushroom cloud up out of the mud as the turbo quickly followed lol .
The MK1 front seats could be flipped around and used as beds , came in handy when the 2 year old daughter dislocated her shoulder and we used the front passenger seat like a stretcher with the wife sitting in the back she could lean forward to comfort her on the way to hospital - just one of those amazingly simple yet awesome cars ....
Still have a 4x4 center prop in the shed as a momento lol .
Looks like the bottom is slowly but surely falling out of the used car market. Splendid!
I loved my XR4x4, if you couldn't afford a Cosworth, this this had an awsome engine for it's day and really stuck to the road, brilliant fixed 4wd. Kept it going until it wouldn't go any more, even having to replace some of thr drive train with identical tractor parts because you couldn't get the Sierra parts (thanks to my garage for tracking that down they are awesome)
The bottom has dropped out of the market, ask Derek Mathewson.
Cars in the UK are so cheap if you compare it to Portugal, where I live. The difference is like x 5.
Yes the market for right hand drive cars must be a big factor in that. Only UK and Ireland. Other RHD countries are just too far away.
France is the same. When my dad lived there a friend sold an old Volvo estate rhd for 3k euros. Would have been £500 at the time in the uk
Same in Spain, prices for 2nd hand cars are very high, though the cars themselves have been hammered. But Belgium, NL and Germany are similar to UK, better units, lower prices
Interesting at how topsy turvy the classic market is. Definitely need a Geoff Buys an Auction car video
the classics do go cheap at brightwells i noticed.some buy from there and put in other classic sales.mercedes 450sl i bought recently for £1800 sold at brightwells for £800
Remember the fees to add on --- For Vehicles - 12%+VAT (minimum of £150) (e.g. on a hammer price of £10,000 you pay £1,200 premium + £240 VAT to give a total of £11,440, assuming a VAT rate of 20%)
PLUS Refundable Deposit £2500 ???? Put the extra fees cost on your winning bid.