The market still seems to be as strong as ever, especially for good MK1 models. That said, I often see some pretty appalling examples with rampant rust still selling for very high prices indeed. Its the 'Classic Car Effect': if its a classic, it must be worth a fortune. And of course thats simply not true. It really is only the best cars that will command strong money. Actually finding a good car is harder than ever but I have good contacts built up over nearly 30 years in the car business and this helps me track down some wonderful examples.
One of my latest ventures is a agreement with Wayne who runs Mazdamenders and has an enviable reputation for building and renovating some quite incredible Mazdas. This month I'm delighted to offer for sale an superb Eunos G-Ltd that has just received the Mazamender treatment, with more cars to follow.
I have added a couple of Mazda Eunos to my own collection, partly because I love driving them but partly with an eye on future values. With interest rates so low, the increase in value of a very good car is quite attractive - almost certainly better than leaving money in an ISA for example. I recently bought back a car that I sold some 10 years ago and I had to pay double what I originally sold it for back in 2012. Great for the owner who has had the fun of owning a Mazda for many years and has made a few quid in the process.
As MK1 prices continue to climb, they are dragging up the price of good MK2s with them and this is also due to the fact so many people are realising how good they are to drive. The immediate problems with the Mk2 market though, are that:
1. Around 85% are rusty as hell, with the severity of rust being anywhere from just a few bubbles right up to cars that are so bad that you wouldn't even want to drive them for fear of impending collapse.
2. There are still thousands out there, probably tens of thousands actually and prices for rough ones are still very low which tends to taint the whole market. The poor ones will be being scrapped at a fairly high rate so eventually the pool of good cars will become smaller but that day is certainly still some way off.
It doesn't leave many that are actually worth buying. In my experience, the earliest cars were better built while the last of the Mk2.5s (may be from 2003-2005) - despite having an excellent specification with lots of toys - were by far and away the worst in terms of corrosion. A good early 1.8 in the original launch colour of Evolution Orange Mica could be a very collectable car in future.
The hillclimb and sprint season is now in full swing and I'm competing in various Scottish rounds in my MK2.5 SVT Sport. The first few of rounds have been, well, interesting. Read the latest reports on this in the 'My Hillclimb Exploits' section on here.
As ever, I'm still using Facebook to give regular and quick news updates so please check out my pages on there: there are links on the 'Links' page here.