「買每個年代最好的東西，始終都是「The best is the best」。跟買名畫一樣，買了《蒙羅麗莎》的，價格永遠也只是有升無跌。當然，買超跑和買經典車的，其實是兩種人。有品味一點的，就是喜歡駕駛經典車的人，好像經典相機和手錶，一定有人追捧。」
*Check out the English Version below
KENNETH WONG 黃恩揚- Classic insider 創辦人，經營高級經典及跑車買賣。對處理高檔車種擁有豐富經驗。曾是香港首間經典車拍賣行的營運總監。經常參與高端古董及跑車的相關活動，貼近市場脈搏
最近，市場上出現了追捧八、九十年代經典車之熱潮。對的，以前我們說經典車，一定會聯想到那些來自五、六十年代的法拉利（Ferrari）。可是在這一、兩年之內，不少具規模和重要的經典車拍賣會裏面，均出現了那些八、九十年代後期的經典車，我們稱它們作「modern classic」。同時，這些拍賣會更出現不少全新款式的超級跑車。上述這些車款在拍賣會內的交投非常暢旺，而且能夠從從成交價上反映出來。例如早前一部八十年代後期的保時捷（Porsche）993 GT2，就以250萬美元（折合約25,145,353港元）賣出，價格令人感到意外。
買入這部993的，原來是一位4 0餘歲的富翁。上述這個不是單一情況，而是在近年市場上不斷延續，更多類似的故事不斷重複出現。這些所謂經典車裏的「八十後」，包括法拉利F40、F50、Enzo 和 LaFerrari等等，都在市場上做得好價錢。其中最厲害的，非麥拿侖（McLaren）F1莫屬。今時今日要買一部F1，價值已超過一億港元！
對於這個情況的發生，會否代表着五、六十年代的經典車，已經被這批 modern classic 所取代呢？這個趨勢對市場影響甚大，我們可以這樣去想：八十後 modern classic 的崛起，是否只是一個趨勢而已？這熱潮能否持續？抑或 modern classic 和五十後經典車這兩個趨勢，能否一同增長呢？今次就等我們一同深究各種因素。
第一個因素是年齡層。現在40餘歲的人，是買車買得最多的人。伴隨他們成長的，就是那些保時捷風冷型號（如964)，甚至是法拉利F40那些經典型號。那些都是他們以前小時候的 dream car，人到中年事業有成，他們現在擁有足夠金錢，買到以前買不起的 dream car。相反，那些五、六十年代的經典車，他們基本上沒有接觸過，因為不是他們那個年代的，故此沒有太多情意結。
第二個因素是收藏家品味的轉變。收藏家現在的品味有些許改變，他們喜歡較容易駕駛、容易理解，以及是跟童年經歷有關的經典車。今時今日，就算你叫他們買一部法拉利 275 GTB，他們都不太願意。這些舊車擺放幾個月不動，又要勤檢查胎壓，每次開動都要先放它在這裏warm up才能走動。就算是每日駕駛，用家亦要經常留意住所有東西，還要常常利用極低轉數行走令引擎回復狀態，更未說常因波箱油還未暖身，使駕駛者甚至連一、二波都不能切入，非常難處理。因此現在的收藏家，普遍喜歡易打理的經典車。
第三個因素是駕駛容易度。比起五十年代的車款，八十後經典車和現時的超跑，駕駛難度是大幅降低的。你跳上一部法拉利 Enzo，扭匙着車就行得。就算舊一點的保時捷 993 Turbo，也只需五分鐘就能暖身，不像法拉利 275 GTB 和林寶堅尼（Lamborghini）Miura般，大費周章，今時今日開 Miura 會發覺其操控性真的很差。開一部平治（Mercedes-Benz）300SL，速度很像挺快，但不要忘記它配全車鼓式煞車，是很難停車的！大家請勿以現代想法去駕駛舊車，這是非常脫節的。
最後一個因素就是價格流動性。八十後經典車和超跑，較容易買賣。反觀五、六十年代的經典車，價格其實已經升到某個位置，坐擁高價位。在我預測下，這些五十後經典車，價格在未來一、兩年應繼續停留在這位置。反而那些 modern classic，我們看見其價格每過一段日子就有所增長，買賣會比前者容易，因為價格具有流動性。
回歸原本問題，這些 modern classic 會否已取代了傳統經典車，令市場放棄它們呢？個人而言，我認為未必會。市場上有一班收藏家，喜歡把每一個年代最好的車都買回來儲。可能他們家裏已經有 Enzo 和F40，但又會買回一部 F430 Scuderia；或者他買了保時捷最新型號，但又會買回那些 964 RS、356，甚至2.7 RS等經典型號，讓自己的 collection 變得完整。
買每個年代最好的東西，始終都是「The best is the best」。跟買名畫一樣，買了《蒙羅麗莎》的，價格永遠也只是有升無跌。當然，買超跑和買經典車的，其實是兩種人。有品味一點的，就是喜歡駕駛經典車的人，好像經典相機和手錶，一定有人追捧。所以舊時的經典車，總會有人欣賞。因為世上總有人念舊、有錢、有品味、有眼光。五、六十年代的經典車在市場內永遠都有需求的，要它們消失的確很難！
Is Classics losing steam to Post 80s modern and supercars now?
BY KENNETH WONG - Classic Insider
It first became really obvious in the auctions scene about a year or two ago. Classic car auction catalogs have started to feature more and more modern classics as well as brand new super and hyper cars. In terms of results, some 1990s Porsche supercars went for ballistic amounts, like a 993 GT2 Porsche selling for almost $2.5m. It turns out a 40 something billionaire was the buyer. This is not a unique event – this trend seems to be continuing.
It is not just Porsche that is on fire – Ferrari Supercars are strong too. F40, F50, Enzo and La Ferrari are all holding strong in the market. McLaren F1 model is going ballistic too. An F1 McLaren today is an over 100 Million dollar car
All this begs the question: Is there a permanent shift taking place in the collectible car market from 1950 and 1960s cars to the super cars of the 1980/90s and beyond? I think it is a timely question to ask.
Three questions come to mind:
What is driving this trend? Is the trend sustainable? Can both categories grow together or money is shifting from 1950/60s to the Supercars of the 1990s and 2000.
1. Changing demographics: a new generation of 40 year olds are buying the cars they grew up with and can relate to but previously could not afford. The 964, 993 series are perfect examples of this.This new generation collectors now have spare funds and they want to invest in their memories rather than buy cars that they never knew. A 30 or 40 year old is buying a 964, 993 or F40 – cars he grew up with rather than buying a from the 1960s which was a decade before these collectors were born.
2. Changing taste: Collectors today want cars that are easier to drive. Easier to understand. Easier to relate too. Collectors today want to get in their cars and drive them. Time has become ever more important. People simply want to live and that means just getting in a driving them. Try getting into a 275 GTB/4 after it has stood for a few months and just driving it – you won’t get far. Not only do you have to constantly check the tire pressure but you also have to wait about 30min of driving at low revs before the gearbox and oil pressure warms up and you can push the car properly. This procedure takes place even when you drive the 275 GTB regularly – the car takes forever to warm up.
3. Better Drivability: Modern supercars have one big advantage- you can get in and drive them. They are more reliable. In an Enzo you can just get in and drive it. Same with a 993 turbo, it takes less than 5 min to warm up. Also the supercars have much better handling – no matter how good you think a Miura SV or 275 GTB is to drive. Not to mention being much safer (have you ever tried breaking a 300SL Gullwing with drum brakes – it is an experience I don’t recommend above 50km/h.
4. More liquid: Supercars in general are easier to understand, perhaps also more liquid in terms of finding new buyers. It is as if the 1950s and 1960s cars have reached a plateau and will stay for quite a while. The climb was quite steep over the past years and I see the cars remaining at a similar price level over the next few years. However the Supercar cycle is much younger and much fresher. So from a price perspective the Supercars have still some room to run.
Is this trend to supercars sustainable?
First you have the demographics that speak strongly in favour of the supercar trend. Then you have the supply equation that works just as strongly for supercars as it does for a Ferrari 275 GTB/4. Let’s take a look at the numbers. They only made 399 Ferrari Enzos which is roughly how many 275 GTB/4 were made. They made 1300 F40 Ferrari roughly the same as the 300SL Gullwing.
Another benefit supercars have is exclusivity that comes with owning a supercar. Owning a Enzo or La Ferrari will allow access to Ferrari the factory but also access to special events that collectors hold among each other. This is more so the case than with owning a 275 GTB or a Dino. Same with owning an F1 McLaren or P1 – this allows access to the brand and a certain collectors circle that has established itself over the past few years. This trend of brands aligning themselves with collectors and staging cool events is a young phenomenon and it is growing very fast.
Can both categories grow over time?
I think both categories can grow over time as both speak to different collector groups that are large enough. I think there is small collector category which is growing that will collect in both areas. An F40 or Enzo or even 430 Scuderia will compliment a 1960s Ferrari collection very well as will a La Ferrari. A 993 Porsche turbo or 964 Porsche RS will complement most car collections well – especially if you have best of something in either category. The greatest cars of any period will remain desirable. The best of anything will always be the best, the most prized and thus the most expensive. If you own the third or fourth best your negotiating position and long term appreciate is more limited.
Even if classic cars might be losing steam to Supercars right now, there will always be place for them among connoisseurs. it takes a little bit of ‘being a connoisseur’ to buy a classic car. Then there is the fact that everyone can go and buy a new 911 but not everyone can buy a vintage one. You need the cash, class and expertise. These factors will always contribute to fine vintage things being popular and in demand.
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