A Discussion of Collector Tastes and Preferences
The classic car market is constantly evolving, with new markets emerging as collector tastes and preferences change. Understanding these emerging markets and their potential impact on the classic car landscape can help collectors make informed decisions about buying and selling vehicles.
One emerging market in the classic car industry is the growing interest in Japanese and European imports. According to a report by SEMA, the list of emerging classics now includes older BMWs, Toyotas, and Hondas. These vehicles offer a unique combination of style, performance, and reliability, making them attractive to collectors looking for something different.
Another emerging market is the growing popularity of vintage trucks, particularly among younger enthusiasts. According to SEMA, truck enthusiasts are now gravitating towards Jeeps and Ford Broncos in addition to pickups. This trend towards labeling later models as “classic” vehicles is particularly apparent in the truck market.
In addition to these specific markets, there is also a shift in collector demographics that is shaping the classic car market. Younger generations, particularly millennials, are showing an increasing interest in Classic Cars. This shift in demographics could have a significant impact on the future trajectory of the classic car market, as younger collectors may have different tastes and preferences than older generations.
For example, younger collectors may be more interested in vehicles from the 1980s and 1990s, rather than the pre-war classics that have traditionally dominated the market. They may also be more open to Restomods and other modified vehicles, as well as electric conversions.
Overall, these emerging markets and shifting collector tastes are creating new opportunities for collectors and enthusiasts in the classic car market. By staying informed about these trends and adapting to changing market conditions, collectors can make informed decisions about buying and selling classic cars.
