Supercar and Classics Collectors Market in the UK: 2018
The market for Supercar and classic cars in the UK continues to strengthen – at the moment.
Unfortunately, purchases of classic cars in the UK by collectors from the United States is in hazard thanks to the proposed tariff imposed by President Trump of 25% on classic cars (or indeed, any cars). However, collectors from the rest of the world may be able to take advantage of a lack of American bidders.
(http://autoweek.com/article/classic-cars/proposed-automotive-tariff-would-slap-25-percent-import-duty-classic-cars), however, if other countries retaliate with their own tariffs, the results could cause problems for all car collectors. https://money.cnn.com/2018/07/20/autos/collector-car-tariffs/index.html.
However, since supercar collectors in the US are by definition wealthy, it’s anticipated that they will seek the ear of President Trump and ensure that the tariff rules are changed to not include collector cars.
Meanwhile, classic and supercar collecting in the UK continues strong.
Classic Car Auctions, founded by well-known Silverstone Auctions and holding its auctions in Leamington Spa, in June held its most profitable one-day sale to date.
There were 115 quality ‘everyman’ classics, as Classic Car termed them, and 65 percent of them sold for total sales in excess of £1.53 million.
Successful bidders were from the UK but also via online, Australia Indonesia and the US. The 182 lots on offer had been the most ever offered at a Classic Car Auctions see july results here. http://www.silverstoneauctions.com/silverstone-classic-sale-2018/view_lots/pn/all
Other classic and supercar auctioneers are preparing for their August or September auctions and expecting to do well.
The Goodwood Festival of Speed, celebrating the 25th anniversary of this event, took place from 12-15 July 2018.
The Festival of Speed is held every year on Goodwood Estate, which is located just a bit north of Chichester. Tickets are already on sale for the 2019 event.
Supercar manufacturers continue to design and manufacture their latest lines, confident that sanity will prevail in the United States regarding such cars.