Silverman Sherliker get the show on the road
The London Classic Car Show (LCCS) has now established itself as the premier UK event, ranking along the major shows in Europe and the States. The 3rd. Show was held earlier this month at ExCeL and once again Silverman Sherliker participated with a banner in the Grand Avenue and a presence in the show guide, to support our clients both within the classic car trade and as collectors in the UK and overseas.
This year the theme was a salute to Ferrari, but a closer analysis of the trade stands revealed a predominance of E-type restorers; no doubt buoyed up by Jaguar's entrance into the market as restorers themselves through their newly formed classic division and their continuation series lightweight E and XKSS models.
We were privileged to have advised on the acquisition of one of the 1.0m E-types as well as a Linder Nockhold replica.
Whilst those were both straight purchases, more challenging was advising a buyer of an E-type ‘requiring only light restoration', which turned to be a horror story with the restorer's bill exceeding £150k.
There's a moral in the story somewhere which kept coming to mind as Robert Clark, who handles the litigation side of classic cars, and I recalled every time we looked at a seemingly fully-restored car on a number of stands which under a beautiful respray may well conceal an expensive nightmare.
That's not to challenge the level of workmanship and expertise which the UK has developed in the classic car sector, which was so apparent from the show. A demonstration if ever there was one that classic cars have shifted up a gear (sorry!) into the investment market. The ancient rusty sports car of old, which could be picked up cheaply and provided fun to the cash-strapped enthusiast, is now the car bought as the basis of a restoration likely to sell for a small fortune. How times have changed.
But as they say about all 'investments' the value can go down as well as up; only time will tell how that old adage applies to the classic car market. In the meantime shows such as the LCCS provide an endless opportunity to see magnificent machines.
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