After stumbling upon a couple of old Auto Trader magazines over the Christmas break, we ponder on what your old car might be worth now, had you held on to it over the years.
“Should never have sold that one.” It’s a common tale of despair as folk look back on what might have been had they held on to a car they once owned. The value of a vehicle, particularly those sporty numbers, can take a rollercoaster ride as it typically suffers a hit of depreciation in the first three years. Prices can sink further as the market forces of supply and demand determine the ultimate value. As time marches on, the numbers available for sale start to decline as life takes its toll. Performance models in particular can take a flogging, reducing numbers at an alarming rate. Accidents, thefts and a generally hard life after being modified to the extreme all have an effect on volumes. And so what was once a popular model suddenly becomes scarce. And then values can start to rise again.
It can be hard to pick which model might ascend in value, and looking back over the past few years, not many would have predicted such a sharp uptick in classic car prices as a result of the Covid years. Things got crazy and speculation took hold, forcing prices ever higher.
Rummaging around in the attic to find where all the Christmas decorations had hidden themselves, we stumbled upon a couple of old Auto Trader magazines, saved for prosperity. Dating from 2001, the 1000th issue of Auto Trader was a big deal. According to Auto Trader’s editor at the time, the enterprise began in 1981 with Ed Lamont creating the magazine as a unique way of selling and buying cars in New Zealand. It continued to grow and in 1993 was sold to Australian Consolidated Press. In the mid 90s to mid 2000s, editorial content grew considerably covering new cars and motor racing. Auto Trader made its online debut in 2003. Late in 2012 it was sold to Bauer Media Group, and in 2019, Auto Trader returned to New Zealand ownership under Auto Trader Media Group.
With our recent announcement of our partnership with Auto Trader, it seemed timely to have a look back.
It’s interesting thumbing through the pages of the old copies, reminding us of the days of a seemingly endless supply of performance machinery, especially from Japan, all at reasonable prices too.
Though we guess it is always worth bearing in mind the context of the times. The median income was around $27,800, so there wasn’t a lot of purchasing power for the average punter. Those that did enjoy the golden age of cheap horsepower may regret the decision to sell, but hindsight and all. And perhaps a sale provided funds for a business venture or house purchase, another ‘commodity’ to rise sharply over the past 25 years. In 2000, the median house price in New Zealand was $170,000; now it’s just over $800,000. Very few cars have enjoyed such a meteoric rise in value.
It’s interesting looking at the mix of vehicles offered up for sale too. Commodores and Falcons featured prominently, as they were among the top sellers in those days, back when you could get a V8-powered, rear-drive wagon. The majority of cars for sale were actual cars. And they were a heap of two- and three-door models as well; Preludes, Skylines, CR-X, Civic and Mirage. And many more wagons than you find now. SUVs were of the old fashioned kind; proper body on frame set ups like the Pajero, Patrol/Safari, Cruiser and Surf. The only soft roader back then was the RAV4. How things have changed.
Anyway, with our rose tinted glasses firmly affixed, we flipped through a 2001 and 2006 edition, pulling a few highlights for you to enjoy. While many of those selected have gone north in value, we’ve included a few that are now at their low point, waiting for their price to rise again.