Press Articles

A Classic Business if You Buy the Right Vintage
By Stephen Fear.

First published in 1998 and since appeared in several publications.

Famous for designing the sensational and glamorous 911 Porsche sports car which graced the post war years, Porsche also designed the Tiger Tank which had an awesome reputation during the conflict. He had a close personal relationship with Hitler which he didn't shrink from exploiting whenever he could.

According to Hans Mommsen, Volkswagen's official historian, Ferdinand Porsche was indifferent to the misery of slave workers under his command and never questioned the system of forced labour.

The Beetle - named because of its shape - became the people's car and naturally the first customers were Nazi workers.

Very few Beetles were actually sold before the War and it was from about 1947 until 1970 when it achieved its phenomenal success. By April, 1955 one million Beetles had been produced.

BMW is another German marquee with many quality classics in its stable. Models such as the 501 built between 1952 and 1955 and the legendary 319/1 among them. Manufacturers such as Mercedes and Jaguar have many beautiful cars in their past including Jaguar's charismatic MK11, made famous in the detective series "Morse".

So if you like old cars and feel that dealing or restoring them is for you just how do you get started?

Auctions are held regularly throughout the country and perhaps visiting a few might give you some ideas.

Interesting Characters Abound

John Brown who is based in Hertfordshire has been dealing in classics since he was 16 which as he says "is some time ago". Starting in 1963 with only £49.00 capital, he originally bought and sold cars from the 40's and 50's. Now operating from a fully renovated farmhouse with extensive outbuildings, he aims to sell a car a day which is something not many other dealers even dream about.

Many traders sell stock on a sale or return basis which may be a good way to break into the business as obviously this keeps overheads to a minimum. John Brown though isn't so keen on operating this way. "I own all my cars". Said John "Besides being a dealer I am also an enthusiast and I prefer to own and drive everything I sell". John's current stock is valued at approximately £500,000 which indicates his success. "All my cars are housed in barns which have been restored to an excellent standard and have enamelled advertising hung on the oak beams with a collection of model antique aeroplanes suspended above" said John. All of his cars are sold with a year's MOT and are fully serviced. John buys his cars wherever he can preferring to buy quality in the first place to avoid unnecessary restoration work.

Interesting characters like John abound in the classic and vintage car business although not many operate from such a delightful setting and have a personal 450 metre go-kart race track built to professional standards to use on their day off.

Correct pricing is obviously vital if you are to be successful. Renovation work is expensive, especially if you have to contract it out.

Mike James who buys and sells classics from his home near Bristol is adamant "If you can do it yourself" he said "but only if you are confident can you do it properly" "Bad workmanship shows and you may find it difficult to shift anything bodged" he continued.

Mike has been trading classics for three years and just makes a living from it. "My problem is I don't really have enough capital" he said "I am sometimes rushed into selling something to keep the cash turning over".

Clearly with reasonable classics costing perhaps £2,000 to £3,000 anyone starting off might need £15,000 available to buy stock and another £10,000 to pay bills in the meantime.

"Several of the classic car magazines carry buyer's price guides and it is definitely worth checking these and visiting some specialist’s auctions before even considering parting with any money" said Mike.

Stylish Sporting Salons

A Jaguar MK11, 2.4 of which only 25,173 were ever made, will set you back around four or five thousand pounds in below average condition and might cost another four thousand pounds to restore to its former glory. However, you can expect to get maybe £11,000 or £12,000 when you sell.

Obviously a potential profit of £3,000 is attractive but "and it’s a big but" says Steve James, Mike's brother, "If you have to contract out all the work you may catch a cold. Leather re-trimming, engine and gearbox work and especially coach work is best left to the craftsman". "So be careful to cost it correctly before you buy the car in the first place" he continued.

"If you are going to be successful in this business" said Taffy Wilson, an enthusiast from Cardiff,” you will need some basic tools besides some basic knowledge".

"A good set of imperial spanners is a good start. These can be bought at auto jumbles or from one of the specialist manufacturers. A double garage or at least a big single is absolutely imperative" he continued. "It rains a lot and you need somewhere dry to work even if you have to leave your stock put generally". "Also, buy some ramps, an engine lift and a heavy duty trolley jack. Old cars are heavy, even the small ones". "A mate of mine was working on a MK11 Jag which slipped off some jacks and nearly killed him" said Taffy.

Big Cat Built by Lyons

William Lyons, the genius behind Jaguar, started the company in a small brick shed behind a house in Blackpool in 1922. It was in that year that Lyons met William Walmsley, a man 9 years his senior at 29. Originally known as the Swallow Sidecar Company, the business concentrated its efforts on the production of luxury motorcycle sidecars. Lyon's, who was considered a brilliant businessman, was concerned about competition from the evolving car manufacturers such as Morris and Austin and together with Walmsley decided to rename the company "The Swallow Sidecar and Coach building Company". In 1935 William Walmsley left the stage and Lyons assumed complete control.

An autocrat who seldom bothered with niceties, calling his staff, including directors, by their surnames, Lyons lived for his business. As the years rolled by the company was renamed. Firstly SS Jaguar in 1935 and then Jaguar Cars Ltd in 1945. The initials SS having unpleasant connotations because of World War 11.

In 1951 Jaguar built the XK120 considered by many to be its most stylish product ever. Only 195 (RHD) and 2,484 (LHD) cars were ever made, making them rare and extremely collectable today.

Produced from 1951 until 1954, this car became the car to be seen in and many were owned by celebrities and Royalty from all over the world. In 1961 Jaguar caused a sensation at the London Motor Show with the huge and remarkable Mark X Saloon. Beautifully fitted with leather and wood, picnic tables in the rear and disc brakes on all four wheels, it was considered a leap forward in both luxury and technology.

Also introduced in what must have been a triumphant year for Jaguar, was possibly the most sensational car ever produced by the company, the E-Type. Sensuous, fast and sexy, this car, together with the Beatles and miniskirts, dominated the swinging 60's.

If you are feeling nostalgic and want an exciting, rewarding and fascinating business, take a close look at dealing in classic cars. Buy what you like then at least if you can't sell it you can enjoy using it anyway".

< Previous Page