The Collecting Cars Podcast hosted by Chris Harris with Edward Lovett discusses the current state of the collector car market. After the last few months of Covid-19 related events, the collector car market is expected to take a hit. They begin to explain why the industry may be facing an oncoming “tsunami” with the global economy in general on shaky ground. The rapidly changing financial markets around the world will definitely have an impact, and nobody knows the extent or time frame.
One friendly reminder they make on the show is that you should go back to making collector car purchases with your heart rather than your head. Another way of saying it is these collector car experts see depreciation dead ahead for several years. If you buy a collector car, make sure it’s for the right reasons. If you love the car, you’ll be in better shape to withstand a downturn in values. When you make buying decisions assuming the vehicles will continue to skyrocket in value and plan to re-sell at significant profits, it’s time to adjust your frame of mind.
It’s a great message and reminder. I really enjoy listening to The Collecting Cars Podcast, Chris Harris sits down with industry insiders and does a great job with his interviews. Check out all the episodes here and subscribe to their show.
Chris Harris is one of the most respected and well-known auto journalists out there. He’s a presenter for Top Gear and a writer for several publications in the auto world. He also has a great YouTube channel called Chris Harris on Cars. Please check him out!