Classic car values remain stable in Germany despite pandemic

Prices for classic cars in Germany increased slightly in 2019. The German Oldtimer Index (DOX), published annually by the Association of the Automotive Industry (VDA), got a score of 2,645, an increase of 1.4% compared to 2018. The increase has been of 164% since the creation of the index in 1999.

The DOX is the most reliable indicator for vintage cars in Germany. 88 representative vehicles are selected and weighted according to their region of registration. Vehicles sold at particularly high prices due to their rarity or their history are not taken into account.

BMWs see their values continue to rise

Despite an overall decline in price increases across the market, some models have experienced stronger growth in recent years. Comparing 2016 to 2019, four BMW models are in the top 10, and three are in the top spots. The 3 E21 series (315-316-318-320-323) has experienced significant price growth over the period (61%), with particularly rapid increases for the 323i versions, the Baur carbriolet and Alpina preparations. Note that the 3 E30 series is also enjoying strong interest from collectors, in particular the M3 preparation. Next come the CS coupés (57%), notably the 3.0CSL special series (light versions, packville and batmobile in particular). Finally, the 02 series (1502, 1602, 1802 and 2002) completes the trio, with an average price increase of 48% over 4 years. In the top 10, we find … nine German models.

Falling prices in the high-end segment

It should be noted that some vehicles have suffered from price drop. The Mercedes-Benz Pagoda, for example, saw its price drop by 10%, but remains on average more than double that of its successor the MB R107. The Ferrari 328 (1985-1989) lost 26% of its value in Germany, with an average of 74,000 euros. It is therefore the more expensive vehicles that tend to suffer price reductions. This is a trend that is found in most international markets. It is the least rated vehicles, and more generally the youngtimers, which carry the market. Conversely, the oldest and most expensive cars are suffering from a drop in their prices.

The German market resists despite pandemic

According to classic-analytics, the current market situation after the loosening of restrictions and the resumption of car trade remains stable, and in line with 2019-2020 trends. Drastic price cuts or panic sales are not observed in Germany. The evolution of the market is therefore in line with the trends observed in the United States since the end of summer 2020. The value of the DOX index at the end of 2020 will not be known until mid-2021, however. It is therefore advisable to remain cautious about future developments on oldtimer market. And of course keep in mind that the valuation of classic cars is not an exact science, certain specific parameters (actual condition of the cars, origin, records …) being practically impossible to take into account in the estimated price averages. These estimates are only trend indicators useful for comparison.

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