THOSE WITH long memories will recall that big gains made in the speculative car market have traditionally been followed by spectacular downturns. It happened during 1990-91, as Australia and the world slipped into recession, and again during 2006-07 when the ducks aligned – unbeknown to most of us – ahead of the Global Financial Crisis.
Now, after the meteoric uplift in demand that accompanied Covid-19, we see untenably low interest rates disappearing and money flooding out of cars and into other investment streams.
As has happened in the past, this change will bring good tidings to mainstream car enthusiasts. They, for now anyway, need to spend a little less and compete against fewer ‘price is no concern’ bidders when trying to acquire desirable models.
Vendors need to participate in the process as well, and it was enlightening to see auctioneers at late-2022 sales, ‘awaiting instructions’ from vendors who were suddenly confronted by
