Is there Long Covid for classic cars?
"Long Covid" is the name given to the long-term consequences that can result from surviving a Covid-19 infection. Doctors and epidemiologists are looking into this.
But we are wondering whether coronavirus could also have a long-term impact on the classic car market. At the moment, we are probably unable to fully assess how the pandemic will affect the income and assets of car enthusiasts in one, two or five years' time. Just imagine the many restaurateurs and small business owners who are currently living off their last savings or have to take out large loans. In a few years' time, some people will be wondering whether they can really afford a classic car and whether they would be better off selling their beloved classic car.
If many people do this more or less at the same time, but at the same time there is a threat of a shrinking buyer's market, then prices will come under pressure and presumably fall.
This will not primarily affect the valuation of absolute rarities and one-offs, but rather the "normal classics", such as a Porsche 911 G model or a Mercedes-Benz SL Pagoda, perhaps even Italian and British exotics, which soared in the years 2014-2016.
So far, Covid-19 seems to have had little impact on the classic car market, but the consequences could come with a significant delay ...
