It’s Over: The Exotic Car Market Turned

The market for sports cars, super cars, and exotic cars turned. After severe prices increases during 2021, we can see now that the market is topping and that car prices are coming down.

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Hagerty market rating: https://www.hagerty.ca/apps/valuationtools/market-trends/market-rating/

Car prices flattened or decreased during the last summer. This trends is visible in the Hagerty market rating and in the asking prices for, for example, the Porsche 911. There are, however, two interesting developments that are important to take into account.

First, there is a large variety in the price trends. A large portion of the collectable/classic car market came down in price. Yet, there are exceptions. This shows that there is no wide-scale market crash. Second, the price decreases are still relatively small compared to the price increases of last year. The largest drops range between 4% and 7% whereas most prices increased by more than 25%. This applies to the Porsche 911 GT3, 911 Turbo, McLaren, Ferrari 458 and 488, and Lotus Evora GT market.

If you are planning to buy a sports car/supercar/exotic car it might be worthwhile to wait a moment. The upcoming quarter will reveal if the price decreases are the beginning of a market crash or just a small dip. Yet, the downside risk to waiting is low since the chance of price increases is low. If you are planning to sell your car, you missed out on the best moment. Given that it is unlikely that prices will increase again, it might be wise to take action.

Content:
00:00 The market turned
00:49 Current market
05:51 Largest price decreases
12:51 Interpreting the drops
13:55 What to do?

Disclaimer: The Content is for educational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained in this video constitutes a solicitation, recommendation, or endorsement to buy or sell any cars. The information published has been obtained from or is based on sources which are believed to be accurate and complete. Although reasonable care has been taken, the completeness and the accuracy of any information published cannot be guaranteed. Any opinions may be wrong and may change at any time. You should always carry out your own independent verification of facts and data before making any purchase decision.