Selling your classic car in today’s challenging market

The UK classic car market is no doubt facing a bit of a tough correction in 2025, with values sliding, auctions struggling and in some areas, sellers finding fewer eager buyers. According to Hagerty’s UK Price Guide, almost half of all tracked models fell in value over the past year, while only around 8% saw any gains. Rising interest rates, the cost-of-living crisis and global instability have combined to squeeze our disposable incomes, leaving many classic car buyers feeling cautious about big-ticket purchases. Added to this, it’s likely that changes in the upcoming November budget could dampen confidence further. For sellers, it means realistic pricing and savvy timing are more important than ever in today’s market…

A market in correction, not collapse, however…

Despite the appeal and lasting charm of classic cars, the UK market is in a notable correction. According to the Hagerty’s guide, for summer 2025, of 3,000 tracked models:

- 46% fell in value over the past year

- Another 46% remained flat

- Only around 8% rose in value  

The market, which started to bloom during the pandemic years, has since returned to more realistic, pre-pandemic levels. At an RM Sotheby’s auction held at Cliveden House over the summer, attendees discovered that bidding was muted, sale prices slipped and several notable vehicles failed to clear their reserve prices (including Jeremy Clarkson’s 1996 Ferrari F355 GTS…)

How much is your classic worth, you may ask?

Well, the answer to that is, ‘How long is a piece of string? (We’d be here all day as well if we started listing prices!)

Heritage Insurance reports that right now the median classic car value in the UK sits at around £12,500, but the market is far from uniform. Certain models, particularly icons from the 1980s, have seen staggering appreciation over the last few years - such as a Ford Sierra RS500 Cosworth that sold for over £596,000 not far back. 

Meanwhile, some family favourites from the 1970s through to the 1990s are also rising in value, with some Ford Escort Mk2-Mk4 achieving prices as high as £93,600 - and one MK2 Ford Escort RS1800 selling at auction for a world-record £276,848 in July! Meanwhile, more modest models like the Austin Allegro are now commanding figures of up to £7,600, dependant on many factors of course.

Despite standout successes, Heritage warns however that 88% of their most-tracked 200 models have fallen in price over the past year, reflecting the broad-based nature of the correction. So essentially, it seems it depends on whether you are one of the lucky ones who has something very much in demand, if you want to achieve a top price at the moment!

Is it a buyer or a seller’s market?

The TV star Mike Brewer, of Wheeler Dealers, suggests the current lull could be a golden opportunity for buyers, but that it could be harder going for sellers. He estimates that classic car prices have dropped around 10-20% over the past six months or so, predicting further changes for another six to eight months. He points to economic pressures such as the energy crisis and high mortgage rates as some contributors to the unsettled market. 

Certainly, the cost-of-living pressures are present for many of us, which means that skipping experiences or halting making secondary purchases like classic cars can follow rising everyday costs. Global instability can often spill over into discretionary markets like collectibles, including cars. There has certainly been some auction-floor anxiety - eyewitness accounts at RM Sotheby’s events suggest subdued sentiment and reticence from buyers over the previous months.

Some selling tips for today’s sellers

It’s tough, but it’s not all doom and gloom! Here’s a few tips to help you, if you are trying to sell your classic…

Set realistic expectations from the beginning 

With only a small percentage of models rising, expect flat or lower pricing unless your model is undeniably hot or rare!

Your time and research will matter…

Some 80s and 90s ‘modern’ classics for example are bucking the trend - but most are not. Do your due diligence on your specific model’s demand and recent sale prices before preparing to sell.

Market strategically!

Auction results suggest that the more targeted sales, via clubs or niche platforms, may yield better outcomes than more generalist listings.

Consider holding if you can

With forecasts for further price softness, your patience could potentially pay off, particularly for well-maintained or iconic models.

Contact us, of course!

You can go online to classiccarbuyer.co.uk and fill in our free valuation form, and we will quickly get back to you with an offer to purchase if it’s something we would buy.

The UK classic car market is currently defined by contrasts, with a few standout successes set against a backdrop of more widespread corrections. With almost half of tracked models losing value and only a small minority appreciating, selling has become a far more demanding task. Tax rises, squeezed household budgets and subdued auction rooms all add to the pressure. Yet, within this period of adjustment lies opportunity; for buyers, the chance to secure classics at more accessible prices, and for sellers, the potential to succeed through careful timing, realistic pricing and a sharp approach to marketing.

Good luck!