It has been a very interesting last few months with regards to sales of collectable cars. Foreign interest has still been strong even though the rand has strengthened mysteriously. This time though, it has been foreigners who have chosen to live in our beautiful country, cos I'm sure you are aware of my feelings on exporting what few classic cars we have left here. There has, sadly, been a drop in local buyers, and that is probably because the buzz word has been property investment, and everyone has rushed out to purchase a rental property as a fashionable investment. Trouble is, its too late, property has peaked, particularly rental properties, and the realisation that managing tenants and trying to upkeep the property, as well as the prospect of increasing interest rates from the end of the year, has resulted in a glut of rental property standing empty, nullifying any profit for the foreseeable future. You never buy at the top of the market, you sell. And be patient, for the property will still be there when the market adjusts down, when the repo's start flowing in to the banks. That's where a classic car has the biggest difference, in that it is a vastly shrinking market due to unscrupulous exporting. There is not a reciprocal influx of cars coming back to Africa. It don't need no brain surgeon to figure out that the less classics available, the larger the prospect for investment potential. The trouble is, not everyone is aware that the problem exists, they think that if they miss a certain example, then another one will come along sooner or later. Don't lose your dream car because you think that another one will come along, or because you were offered one a year ago at half the price, because our response will be, ‘ so why didn't you buy it ‘ ??? |