EXCLUSIVE
Enthusiasts are buying cheaper cars to escape ‘doom ’n’ gloom’
CCW investigation into more than 1000 auction results has found that sub-£20k classics are outperforming their more upmarket counterparts with average prices climbing year-on-year.
Figures from the opening sales of the year held by a dozen of the nation’s biggest classic auctioneers showed that the average paid had climbed by three per cent from £19,918 to £20,537, with sale rates remaining consistent at around 70 per cent.
The results come largely from auctioneers specialising in mass-market buys and contrast with a 16.1 per cent decrease in average prices across the whole of the UK classic market seen in 2022 (CCW, 1 February); this suggests that everyman classics are finding favour with more buyers than higher-end offerings.
Auction analyst, Richard Hudson- Evans, said: ‘Seven out of ten cars are still going to new homes and the fact that this is consistent with last year is a reflection of a healthy, stable market.
‘Bidding at ACA’s latest sale in particular was strongest for everyman classics – enthusiasts are really switched onto more recent cars in good condition with low mileages – such as the Subaru Impreza – at the moment.
‘The fact that these figures largely cover everyman classics and show a slight increase in average prices also shows that these cars are doing better than a lot of those at the top end.’
Auctioneers told CCW that they had seen an increase in the number of would-be owners bidding on everyman classics, which they attributed to enthusiasts looking to spend their money on classics rather than other pursuits or holidays.
Hampson Auctions’ motor car specialist, Laurel Johnson, said:
‘Affordable clas
