State of the Collector Car Market
Traditionally, the Scottsdale Auction Week in January is regarded as an early indication of the state of the Collector Car market, and in 2009, there were far more questions than answers as we approached Scottsdale. No one can deny that the economy, and the automotive markets in particular, are more volatile right now than we’ve ever seen before, and most businesses in the Collector Car market collectively held their breath in anticipation of the week’s results.
Now that the results are in, it’s safe to say that collector cars are still a highly desirable asset, and that while the overall values have diminished a bit in this economy, demand is still strong, and there are real opportunities right now for great values on certain cars. Blue Chip collector cars with the right provenance and documentation remained solid in Scottsdale, while many feel the market correction on some of the clone or tribute cars was long overdue anyway after a decade of unrelenting appreciation. Customs and “resto-mod” vehicles also saw a significant decrease in value as buyers were definitely looking towards authenticity and bulletproof documentation as shields against deflated values.