2014 was another landmark year for classic automobile sales. Seeing peaks in sales of Ferraris at $338 million representing 30% of all auctioned cars. The Classic Car fund acheived a net 6.16% (Class I) and 5.9% (Class P) profit a continued steady growth, comparing well to the DOX (German classic car index which made 4.5% in the same period) all correlating with lows in oil and gold prices with the stockmarket remaining on an uneven keel.
There are still downward trends in amongst the success and automobiles from around the 1930-1950 period were definately on the slide. There was a considerable trend towards creme de la creme examples of make and type which we see continuing as the market shifts a little more towards collectors and investors.
There was still plenty of doom and gloom in the markets at the opening of this financial year with growth forecasts being lowered and the Euro taking a plummet against the Swiss Franc. All positive for the classic car market which began the year officially in Arizona, the first key classic sales of the year which are often a good indicator of how the year will progress. Scottsdales six sales tallied a result of $292.8 million, opening the year with a resounding, “yes” to the continued boom of the market with European cars leading the way.
Hagertys report that average prices and sell through rates were up too. 2015 appears to be- year of the barn find- with the exciting French discovery at the end of 2014 making for a superb story and run up to the Paris sales and exhibition in February. With all indicators so far looking at an enticing and historically relevant year for classic car sales and events we look forward to picking up quarterly news and reports after Easter.
Information Provided byThe Classic Car Fund: www.theclassiccarfund.com