Why 1980s cars are the hottest thing on the auction market right now - Driving
The insurer and its classic car database have found that so-called modern classic cars from the 1980s and 1990s are becoming increasingly popular, based on 2015 auctions, especially the prestigious and important Gooding & Co. , RM Sotheby’s, and... In fact, cars from the 1980s are the only segment with a year-over-year increase in average auction values. They were also the group with the largest increase in volume offered at auction, more than double what was sold in Monterey last year. Cars from the 1990s had the biggest increase in median sale prices in general, up 188 per cent over 2014. “There’s no doubt about it—’80s cars are the most active segment right now, followed by those from the 1990s,” says McKeel Hagerty, the chief... In fact, classic car prices have plateaued this year after record-breaking sales in recent years that had stemmed from increased global wealth. This summer’s California auctions fell a few million dollars short of 2014’s $402. 6 million in equivalent sales. Ferraris still retained top billing in sale prices, but RM Sotheby’s premier item — a $17. 6 million red Ferrari 250 LM — fell far short of last year’s winning Ferrari 250 GTO Berlinetta, which earned $38. 1 million and set the world record for a... And 25 Ferraris set on the auction block this year didn’t sell at all. Source: driving.ca
