Uncle Ron 0 Posted February 21, 2017 Evening chaps, Have been snooping for a few weeks and thought I'd pop my head up over the parapet and say hello. I'm in the process of starting up a classic (and "modern classic") business in the Midlands. Have been collecting for years and fortunately have worked up a bit of capital to get going. My background is in marketing mostly, having worked for a certain Surrey based supercar manufacturer in their global marketing team I'm hoping I can bring a bit of innovation to the classic world in that area. Knowing my stock will likely be lower turnover than most of you guys (from what I've read) the aim of the game initially is to keep the costs as low as possible and start to build a bit of a brand online and in the mags. I've found a little unit approx 2,000 sq ft for not a lot of money at all and I'm going to aim for 8-10 quality examples of interesting things, and my feeling is that while a lot of the classic market is saturated there is still room to make a mark, particularly with some of the more recent stuff (E36 M3s, Alfa 156 GTAs et cetera) where there is room for growth and a strong enough demand. Focus will be on continental stuff initially because a: they're desirable and b: I can afford to stock a few of them! Might look to pick up some of the higher end stuff when it comes my way but we'll see how we go. Anyway, just thought I'd say hello - be nice to get any "you're mad getting into that" out of the way early on! Alex PS any of you guys have any thoughts about a firm specialising in track special/lightweight/stripped back versions? I'm thinking GT3s, R26r, Mini GP - I think in years to come as we move towards autonomous vehicles, they will only become more desirable and if you can be a strong player in that niche you could do well. Share this post Link to post Share on other sites
metcars 397 Posted February 21, 2017 Welcome! From where are you intending to source your stock? Share this post Link to post Share on other sites
betginge 73 Posted February 21, 2017 Welcome Good Luck with your new venture, Its something i have wanted to do myself this area but Cannot see this happening for long wile. I do think there is demand for modern classics and retro vehicles. I think Ebay classifieds will be your friend here, its free for first two months and it doe sent break a leg each month in costs like AT. Classic car weekly do free listings. The classic car auction market is a strange one. its more ideal for selling than buying in a trade sense, I keep an eye on the selling prices in the local classic rag and the prices for some modern classics are going through the roof. Even bloody metros are making thousands now lol buying classics that have been blocked in the local general car auctions can be a winner. I see lots of old stuff thats worth money in the classic market doing peanuts as its just not the right place for them to be sold hence the low values. Share this post Link to post Share on other sites
Uncle Ron 0 Posted February 21, 2017 Thanks gents.. @metcars - I'm under no illusions that this is going to be the hardest part, particularly to begin with, hence initial small stock (some of which I already have). Some bought at auction, others picked up out of private classifieds or watching the forums. Buying at sensible prices will be tricky but there's always someone who needs to sell something quickly. Having owned a lot of the kind of thing I want to sell, I've got a few reliable people who can help bring things up to where they need to be if they aren't quite perfect. I'm also not averse to importing. Open to any ideas though as this is going to be the hardest aspect of it. @betginge - thanks, I had considered other areas of the market (selling only 'first cars', VW up/Fiestas/Corsa Ds etc for example) but the margin:hassle/admin ratio doesn't stack up for me, volume brings other headaches (mainly increased costs). That might all change in six months mind! The classic auctions are a funny one, there is some stuff in there that goes for silly money, but equally there's often stuff that goes for significantly less than what it retails at, really does depend on getting the right people in the room and some are better at that than others. COYS had a sale at Olympia at the weekend and a lot of the stuff went a good way under the lower guide (probably due to the 17.5% buyers fee!) - yet the headline is "record price for Dino" or something similar. It's going to be an interesting few months, but I hope I can bring something new to the table Alex Share this post Link to post Share on other sites
It's me 615 Posted February 21, 2017 i would be specialising if i was going into this market this way you can know your product,source best stock and have choice to make people travel i often look on ebay at classics and see the same old cars for sale for months and even years on end,its not for me good luck bythe way theres plenty who do it well,might see you at the nec in november Share this post Link to post Share on other sites
Uncle Ron 0 Posted February 21, 2017 30 minutes ago, s and b said: i would be specialising if i was going into this market this way you can know your product,source best stock and have choice to make people travel i often look on ebay at classics and see the same old cars for sale for months and even years on end,its not for me good luck bythe way theres plenty who do it well,might see you at the nec in november Cheers! Will definitely be specialising, but whether that's Italian or German stuff remains to be firmed up. You make a good point about stock moving slowly but I'm going in eyes open. Iconic cars will always have a buyer, and there's never been more buyers than there are now - if the economic situation were to change that may all come to a grinding halt though so we shall see! - you'll definitely find me at the NEC in November and probably the rest of them - off to Race Retro at Stoneleigh on Saturday for the auction.. Share this post Link to post Share on other sites
Rory RSC 596 Posted February 22, 2017 You have the right contacts and background to make this work. Website with about me and making a lot of noise about the company you have worked for will certainly provide a lot of confidence. I think the lightweight special type cars will be a good shout for what its worth. Again hardest part of job will be stock, but lets face it its hard to find good stock regardless of what sort of cars you are trying to offer. Share this post Link to post Share on other sites
metcars 397 Posted February 22, 2017 Wheeler dealers has a lot to answer for! Share this post Link to post Share on other sites
Cornish Guy 45 Posted February 22, 2017 5 minutes ago, metcars said: Wheeler dealers has a lot to answer for! We spent a £1000 doing up this motor, but we are not going to tell you about the other £2000 we also spent! 1 Share this post Link to post Share on other sites
Mikey 19 Posted February 22, 2017 Amen to that Rory, I can't win anything at the moment. The economics' just don't stack up right now with stock changing hands at auction for top dollar, Auto Trader's price hike, and then trying to complete with the supermarkets selling volume! Anyway Alex I think what you're proposing isn't necessarily unique as I personally know a few traders in this market, but if done properly there is definitely some room for someone to stand out. If it was me I'd be looking to make sure my car prep was absolutely top notch with pictures to match, attach myself to a reputable specialist mechanic as mechanical condition, history and looks are everything in that sector. I know from what you've said you have knowledge of where to source stock, but don't under-estimate how much of your time this will take up. It's a lot harder when you're buying to sell, as there are so many more things to consider especially when you add the words preparation, margin and advertising to the equation! Having said all that It's definitely buoyant at the moment so good luck with it all fella! Share this post Link to post Share on other sites
Uncle Ron 0 Posted February 22, 2017 Cheers guys, Mikey - there are definitely some good businesses in this space doing very well, it's going to be a tough nut to crack, you're spot on about prep, the guys building brands have got great shots of well detailed cars. I'm fortunate to have a couple of ex Mac mechanics and bodywork guys on hand for getting stuff up to scratch so we'll see how I get on. Wheeler dealers definitely to blame for all of this. Fingers crossed I never end up with one of their "restorations" on my hands! Share this post Link to post Share on other sites
Mikey 19 Posted February 22, 2017 Oh god not Mike and Ed... I've met them both a lot over the years at various shows, had a few beers with them in hotel bars when staying over for a weekend show etc, and they both laugh at some of the BS they come out with on their shows. We call it the not for profit show, because obviously the team of (hidden) mechanics and pretty much all consumables/parts aren't reflected in the margin, and lets be honest some of the finished cars aren't too great either! You mentioned a 156 GTA in your first... Are Italian cars something you're are looking at? Share this post Link to post Share on other sites
grant8064 219 Posted February 22, 2017 Wheeler Dealers...to blame but also maybe helped broaden the interest in 'modern classics' despite every viewer knowing it's a bit of a joke? Anyway, best of luck with it...i'm very into newer icon classics and i'm very very jealous. The biggest appeal for me is accessibility. Jump in a Lancia Delta or a proper BMW or old Merc and, yes they are different to a new car, but not so different and they are so simple to use. One key, turn it, drive. None of this messing about with chokes or anything. Classic mags used to petrify me...the guys were always doing major surgery on Ford Anglias and rotten MGs. No thanks! I know a guy locally who specialises in 1960s - 1980s Italian stuff and some of the stuff he gets is simply beautiful. Like really really pretty...not sure he can top my 59 plate Matiz S right now though in the looks department If you ever accidentally go down the Dutch route and get a Daf 44 in stock drop me a PM...i'm your man! Share this post Link to post Share on other sites
metcars 397 Posted February 22, 2017 3 hours ago, Cornish Guy said: We spent a £1000 doing up this motor, but we are not going to tell you about the other £2000 we also spent! .... and then £2000 we should have spent! Apart from the obvious, the Alfasud was a good car for its age. Twin cam, 5spd, discs all round etc. But.....? Share this post Link to post Share on other sites
Uncle Ron 0 Posted February 22, 2017 2 hours ago, Mikey said: You mentioned a 156 GTA in your first... Are Italian cars something you're are looking at? Italian cars are what I love - I've had a GT Junior in the past and have a 208 GT4 tax break special at the moment. Dream would be an old giulia spider! 1 hour ago, grant8064 said: The biggest appeal for me is accessibility. Jump in a Lancia Delta or a proper BMW or old Merc and, yes they are different to a new car, but not so different and they are so simple to use. One key, turn it, drive. None of this messing about with chokes or anything. Classic mags used to petrify me...the guys were always doing major surgery on Ford Anglias and rotten MGs. No thanks! I think this is it for people like us - enthusiasts. In 10/15 years when you can't drive yourself anywhere because the car does it itself, there will be a yearning for a great chassis paired with a manual gearbox and a great engine.. Also, just in case you weren't taking the proverbial, there's a one owner Daf 44 on carandclassic now.. 17000 miles "still on its original tyres" - reduced from £8750 to £5750 Share this post Link to post Share on other sites
Mikey 19 Posted February 23, 2017 14 hours ago, Uncle Ron said: Italian cars are what I love - I've had a GT Junior in the past and have a 208 GT4 tax break special at the moment. Dream would be an old giulia spider! I think this is it for people like us - enthusiasts. In 10/15 years when you can't drive yourself anywhere because the car does it itself, there will be a yearning for a great chassis paired with a manual gearbox and a great engine.. Also, just in case you weren't taking the proverbial, there's a one owner Daf 44 on carandclassic now.. 17000 miles "still on its original tyres" - reduced from £8750 to £5750 Man after my own heart then! I nearly bought a 308 GTS when they were down in price to their mid to late twenties after doing a Ferrari day at Oulton Park. Brilliant cars, pop up headlights, Don Johnson side fins, and a targa roof...What more could a man want! I bottled it as servicing and maintenance costs were prohibitive and we were saving for our wedding at the time... close call I can tell you! wife or the fezza! I owned around 10/11 Alfa's over the years and my first car was a 1.5ti green cloverleaf Alfasud which was great to drive, but it just dissolved a little bit every time it rained. I still miss it now! Share this post Link to post Share on other sites
