Current values - is the jump real?

[jerzybondov]

It seems that in the last year in particular values have really jumped - is this a reflection of where the market now is?

For reference, let's establish some context in terms of condition:

1A: Very low miles, absolutely original, excellent cosmetic condition. Could concours tomorrow (although probably couldn't drive there without breaking down) - see the £73k car at Silverstone auctions recently.

1B: Thoroughly well sorted car with immaculate frame (or frame off resto). Excellent cosmetically, thoroughly modernised (stainless exhaust/spax/lowering springs/fuel lines/header tank etc) and large mechanical overhaul on the rest. Could drive to San Tropez in it tomorrow.

2: Cosmetically good or even excellent. Has probably been pulled out of a barn after long term storage and had the jobs done to get it running and a cosmetic spruce. Will get you from A to B and superficially looks like condition 1B but will have a bunch of jobs that need still doing on it, from steering rack to bushes to fuel accumulator etc etc.

3: Runner that needs cosmetic and mechanical work.

4: Non-runner that needs a few jobs doing to get it on the road. Was the previous incarnation of the condition 2 car before someone did the spruce and stuck it on eBay.

5. Basket case.

It seems like at least two condition 2 cars have sold for £50k+ recently. (see https://bit.ly/3uLyRXn) Is this actually where the values currently sit?

In early 2020 a condition 1B car could be picked up for £40k or not much more. Admittedly the market doesn't always see the extra value in a 1B over a 2 (it's not obvious if you don't know DeLoreans) but is it fair to say the current market looks more like this...?

1A: £70k + (these cars are undesirable unicorns unless you want an ornament)
1B: £55k+
2: £50k+
3: £40k+
4: £35k+
5: £25k+

It's a long way from the days when £25k would get you the best DeLorean in the UK!

Discussion welcome - thought it was worth a thread to get a handle on this!

[CFI]

I’m sure some of it is inflated due to covid and the jump in value of nearly all cars. However, I do think that some of it is because it is simply long overdue. DeLorean was a bargain for many years and we’re finally seeing the prices that a rare historically significant car deserves.

In the US, Hagerty Insurance currently values a concourse car at an average of $102,000 or roughly £79,000.

I bet prices drop as things slowly get back to normal after covid, but I don’t think they’ll drop to pre-pandemic pricing. I think we’re finally at a stage where DeLoreans command a premium.

[andyd]

3: Runner that needs cosmetic and mechanical work.

5. Basket case.

Paradox: no delorean ever gets above these criteria!

[jerzybondov]

3: Runner that needs cosmetic and mechanical work.

5. Basket case.

Paradox: no delorean ever gets above these criteria!

Very true!!!