Falling prices of pre war cars in uk

[31 LaSalle]

After attending a few car auctions in the uk recently I have noticed a drop in prices achieved on pre war american cars

some of the prices you could not import one from the usa requiring restoration

just a few examples shown hear

1928 Franklin $8800       1922  Dodge  $9700      1927 Hudson  $12000   1935 Hudson Terraplane  $21000

all these cars were tidy examples     Also a 1935 Plymouth coupe requiring full restoration  But complete $3600 pity i had no room for it

[alsancle]

Just looking at a single picture of each of those cars I can come up with reasons why they wouldn’t achieve great  results. It’s true that the market is softening.  But, I personally know of lots of private stuff. Trading hands at decent numbers. A really good car will always find a home. A compromised car may find a home, and projects have very little value these days.

[60FlatTop]

30 minutes ago, alsancle said:

A really good car will always find a home.

Seems like that has always been true. The buyer is just a phone call away. No need for the circus atmosphere.

[JV Puleo]

I can see the price on the Franklin...the colors are appalling and I think it would have been difficult to get that price here. The '27 Hudson was a good buy but not exceptionally cheap. Prices for '20s sedans have always been soft.

[edinmass]

I’m waiting for the market to fall out under the DV-32 Stutz cars. Then again, I have been watching it since 1984 and I haven’t seen a single car go backwards yet, regardless of body style. 

[Rusty_OToole]

You may have to settle for an SV-16

[alsancle]

27 minutes ago, Rusty_OToole said:

You may have to settle for an SV-16

 

25 years ago I had my eye on this and passed.  It has sold 2 more times since, every time for more and more money.

 

Edited November 24, 2023 by alsancle (see edit history)

[1912 Minerva]

Here in Australia, my feeling is that the more run-of-the-mill 1920's cars don't seem to bring a lot of dollars.  Ford T's and A's are a bit of an exception - probably due to the the support and parts available (plus A's are just damn good cars!).  I think one of the issues here is that there are not many events catering for cars of this age bracket (20's & 30's).  Lots of events for Veteran cars (pre-1919) for which these cars aren't eligible.  Other events are generally open to a much wider range of vehicles and the 1920's cars (what we call "Vintage" in Australia) seem to be increasingly overlooked. 

Edited November 25, 2023 by 1912 Minerva (see edit history)

[4Hud]

11 hours ago, 1912 Minerva said:

Here in Australia, my feeling is that the more run-of-the-mill 1920's cars don't seem to bring a lot of dollars.  Ford T's and A's are a bit of an exception - probably due to the the support and parts available (plus A's are just damn good cars!).  I think one of the issues here is that there are not many events catering for cars of this age bracket (20's & 30's).  Lots of events for Veteran cars (pre-1919) for which these cars aren't eligible.  Other events are generally open to a much wider range of vehicles and the 1920's cars (what we call "Vintage" in Australia) seem to be increasingly overlooked. 

Opens up a fine opportunity for someone to host a "Vintage" touring event that caters to this fine era of automobile, all you need is 4 or 5 of you to get things rolling. If you build it ...

Edited November 25, 2023 by 4Hud
spelling (see edit history)

[1935Packard]

I think stodgy 1920s sedans are really neat to look at, but no question this is a really tough market for them.  

[alsancle]

Highest and best use for our cars is to drive them.  In my neck of the woods that means being able to hold 45 mph relatively comfortably.  

 

There are plenty of 1920s cars that can do that, but not every car.  Mix in bad colors, poor maintenance, whitewall tires, etc and you have a recipe for a small market.

[John Bloom]

I don't want to hijack this thread, but this brings up a conversation I seem to be having a lot lately with friends.......The seller who is in denial of what their car is worth or what their car would sell for at auction.  As this thread mentions, for run of the mill, interesting, closed cars with needs....prices are very soft.   I'm not the kind of guy to tell someone who I barely know/stranger....."dude your car won't get a third of what you are asking".  I had a friend looking at a Packard recently and the car is maybe worth 30% of the asking price.  I sent him a comp of a much better car (paint, interior, mechanicals) and it sold recently for 50% less than the asking price of the car he is interested in.  He forwarded it to the seller in a polite email showing this as a comp.  The seller responded that he "may have to lower it to that price to sell it in the future".  Total denial.  

 

The top stuff (desirable and in good shape, or very interesting and rare and worth the trouble to resurrect) does fine.  So much other stuff seems to languish as sellers either ignore reality, or stubbornly can't accept the true market for their cars.  

 

I don't want to be trying to move a car and have it around for a long time for sale.  I try to price it at a point that the first serious person who wants one, will think my price is fair and snatch it up.  I'm sure I've left some money on the table, but I don't think I've ever needed even two weeks to find a buyer (And I'm usually excited about another car I'm buying or have bought and want the storage space). If you are advertising a car for sale on on the usual suspects (auctions, FBMarketplace, Craigslist) and no one has bought it for a year.........guess what?

 

As the initial post here mentions, go to an auction and see what buyers thinks a car is worth.  There are always exceptions at an auction of a few well bought cars, but they are very efficient at finding the point where buyer and seller meet.  

[Testarossa]

I agree with everything that John Bloom says although we deal with different types of Pre War cars.  Mine tend to race. I am located in Antwerp Belgium and I am now (long story) the Director of Sales at Historic Competition Services.

 

I cut my teeth on Duesenbergs (on my business card today and it is my email (duesdealer:), Auburns and Cords.  There was a time when I thought I would concentrate only on those cars.  An Auburn Boattail Speedster leapt in value in the early 2000's.  Like a healthy 60,000.00 per year over five years at one point.  And Duesenbergs have yet to really get their due.  Because at heart it is a very fast race car and in almost every incarnation quite beautiful.

 

The Europeans love the ACD's and apparently Nash because as you can see on another thread I have a Nash collector in Paris that has asked me to sell his lovely cars.  American would never have paid the initial asking prices we had for the cars.  I might even have a problem with the now reduced prices but the Europeans are a different story.  I have serious interest and the value is different to them.  Already restored.  Already in Europe. And a rare American car.

 

The cars you guys have been discussing are the cars that should go into the hands of young enthusiasts - today that means people in their 30's.  Great starter cars.  Priced right.  I think, like John Bloom said, there will always be a market for those cars as long as the seller is reasonable about price and moves them along. After all in most cases they have had the car for decades and bought it for a song.  Do the years of enjoyment math and move it on.

 

I certainly hope the market for Pre War cars remains healthy - we are bringing 21 cars to the Pre War Car Show in Kortrijx, Belgium next weekend and I don't want to bring them all back to Antwerp!!

 

Kelly Dietrick (formerly Cargirl on this site:))

 

[edinmass]

15 hours ago, Rusty_OToole said:

You may have to settle for an SV-16

Nope…….I can’t drive average motor cars. 😎