[ Smart Buys 2024]
Quentin Willson’s
If you thought you'd missed out on that dream classic, think again. Over a broad spectrum of prices, some of the most desirable models have been sliding back
Nowonder the economy has buckled. Since 2021 UK interest rates have risen 14 times and are now at the highest level for 15 years. Our hobby, largely unaffected by previous geopolitical ructions, hasn’t escaped and values have fallen. We’re also seeing a similar contraction in Europe and the US where many prices have returned to 2019 levels. We tracked 1400 models across the Classic Cars Price Guide from 2019 to 2024 to identify the biggest casualties. From that analysis we’ve chosen five classics that over five years have shed between 21% to 43% of their values and now look like smart buying opportunities. These are all desirable, hot, and captivating classics at prices you thought we’d never see again. Some are the lowest they’ve been for a decade. We think now could be the time to start hunting for a bargain.
The Fiat 124 Spider is our most affordable faller. Prices have slipped by 21% since 2019 with cherished cars now around £13,500. Back in 2018 Anglia sold a restored ’68 Series 1 with factory alloys for £17,000. Four years later it was back with ACA, fettled and improved, but sold for £15,500. Over the last year the Spiders that have been at auction either haven’t sold or changed hands for the low teens. Yet this cute Italian makes a distinctive alternative to an MGB and is cheaper than an Alfa Spider.
Some 198,000 were built during the ’66 to ’85 run, first by Fiat and later by Pininfarina. Twin cam engines rose from 1438cc to a fuel injected 1995cc, and 80% of production went Stateside. All are lhd – although there were a few bespoke rhd conversions – and there was even an auto option.
The Spider has a strong heritage. Pininfarina badges adorn its flanks, the shape penned by Tom Tjaarda of Ferrari 275GTB and 330GTS fame. The clever dohc cylinder head was delivered by Aurelio Lampredi and sits on a slightly revised 124 block. It’s a highly praised unit that became a Fiat staple right into the Nineties. Four-wheel discs, Panhard rod, trailing arms, a later five-speed gearbox and a soft top that can be raised with one hand at traffic lights make the Spider a much more refined proposition than an MGB, Spitfire, Sprite or Midget. Fiat’s period press ads made much of the Spider’s sophistication – and the crudeness of the competition – trumpeting, ‘For the price of an imitation sports car you can own the real thing.’ There was an Abarth version – the 124 Spider Rally - with independent rear suspension, flared wheelarches, GRP hardtop, bonnet and bootlid, LSD and tuned 1756cc motor. A works version won the 1975 European Rally Championship, the Spider’s greatest moto
