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Old 19th July 2011, 17:19   #1
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Default Significant vintage/classic sales in India

Having recently attended an auction which proceeded to be reported in various newspapers with details of lot estimates, realised prices, and particular cars that sold, etc, I was given to thinking about similar circumstances in India.

Does the country have any auctions or are all sales made privately?

Have any significant cars have recently changed hands, or have they as I suspect, remained in the same ownership for decades?

Always wondered how the classic/vintage car scene in India is maturing and whether it is now in tune with similar sales in the West, ahead or behind?
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Old 19th July 2011, 17:36   #2
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Default Re: Significant vintage/classic sales in India

There are a number of issues that come in the way of a regular auction house coming up in India

1. Dearth of cars coming up for sale regularly

2. Dearth of well heeled buyers who value vintage cars as an investment. Here I would like to qualify that if India had a range of beautifully restored cars for sale new entrants would come into the fold. Given the condition of most cars now in India most people with money would stay away on account of the hassles of restoring the cars. Just too much of a headache for the owner

3. Preference for secrecy for obvious financial reasons

I feel the government should now scrap the rule banning import or export of vintage cars. True there was a huge exodus of priceless cars from India during the 60's and 70's but times have changed. The number of wealthy Indians who can afford cars in the 50-100 lac range is massive. There's a large community who can afford cars in crores too.

If India opens up the impex of cars I see many fabulous cars coming back into India, and hopefully we'll see auctions taking place here too !!

Last edited by DKG : 19th July 2011 at 17:43.
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Old 19th July 2011, 18:36   #3
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Default Re: Significant vintage/classic sales in India

Quote:
Originally Posted by DKG View Post
There are a number of issues that come in the way of a regular auction house coming up in India

1. Dearth of cars coming up for sale regularly

2. Dearth of well heeled buyers who value vintage cars as an investment. Here I would like to qualify that if India had a range of beautifully restored cars for sale new entrants would come into the fold. Given the condition of most cars now in India most people with money would stay away on account of the hassles of restoring the cars. Just too much of a headache for the owner

3. Preference for secrecy for obvious financial reasons

I feel the government should now scrap the rule banning import or export of vintage cars. True there was a huge exodus of priceless cars from India during the 60's and 70's but times have changed. The number of wealthy Indians who can afford cars in the 50-100 lac range is massive. There's a large community who can afford cars in crores too.

If India opens up the impex of cars I see many fabulous cars coming back into India, and hopefully we'll see auctions taking place here too !!
In my view under no circumstances should the ban on export of vintage cars be lifted,actually the law should be more strictly imposed.Regarding import -at present there is no in toto ban on it-import of vintage cars are allowed subject to certain criteria(which has been discussed in detail elsewhere)
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Old 19th July 2011, 19:10   #4
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Default Re: Significant vintage/classic sales in India

I think the export ban should be retained and the imprt restrictions eased to allow for some nice cars to return to India.

Even though the quantity of cars is low in India that is no excuse not to have professional auctions happening here.

And then there is the issue with collectors an dealers having problems declaring the actual value of the cars sold / purchased.
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Old 20th July 2011, 13:10   #5
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Default Re: Significant vintage/classic sales in India

So how have recent sales if any taken place? I always hear rumors about cars being sold for more than they would fetch abroad and I assume it is due to the rarity and the fact numbers cannot be added to. I have yet to have any of those rumors verified.
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Old 20th July 2011, 14:04   #6
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Default Re: Significant vintage/classic sales in India

I think the last major major and significant car to change hands would be the Stutz.

There has been a shift of many nice cars from Delhi to Bangalore recently that could also be considered significant.

Like you said most of thee deals happen behond closed door in secrecy which leads to a host of rumors which apparently the buyers and sellers are know to encourage and perpetuate.

The movement of cars to the new collection in Orissa could also be considered significant.
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Old 20th July 2011, 17:44   #7
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Default Re: Significant vintage/classic sales in India

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Originally Posted by wasif View Post
I think the last major major and significant car to change hands would be the Stutz.

There has been a shift of many nice cars from Delhi to Bangalore recently that could also be considered significant.

Like you said most of thee deals happen behond closed door in secrecy which leads to a host of rumors which apparently the buyers and sellers are know to encourage and perpetuate.

The movement of cars to the new collection in Orissa could also be considered significant.
Wasif, I agree with you. On your last para, yes its been a fast and massive buildup. But the moot point is in my opinion is it will not last and will not sustain in the long term. So keep your ears and eyes peeled my friends!
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Old 20th July 2011, 17:49   #8
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Default Re: Significant vintage/classic sales in India

Interestig.....so some more movement is predicted then ???? any idea which direction thsi time ???
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Old 20th July 2011, 18:15   #9
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Default Re: Significant vintage/classic sales in India

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Interestig.....so some more movement is predicted then ???? any idea which direction thsi time ???

Nothing is happening in the short term, we should wait and watch 5-6 years down the line. Let me be clear, that is my thinking and there is no information to back this up.

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Old 20th July 2011, 22:33   #10
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Default Re: Significant vintage/classic sales in India

Good cars selling for a premium I infer?

Well, with VW Beetles and Spitfires commanding silly money, can only imagine the premiums some of the cars in the top ten list would command, the Rolls, Bentleys, Delahayes, 540Ks etc...
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Old 20th July 2011, 22:36   #11
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Default Re: Significant vintage/classic sales in India

Agree on the last known and significant car being the Stutz but also a RR 20/25 which was in Mumbai further to that I am aware of none as quality Changes

While the Cars to Bangalore are for what I hear a museum and happy that they are reaching somewhere they will be preserved. The idea of deals and their actual traded terms is not that open for the purpose of rumors and our economy and the qty of cars which are in India.

While what I hear the Orissa collection is a premium Mark category collection which is done not a whole Car and Bike collection like Bangalore or Gurgaon Auto- Transport Musuem which was featured in some newspaper article. Anyway thats good again that they are getting a roof and someone is !

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Quote:
Originally Posted by wasif View Post
I think the last major major and significant car to change hands would be the Stutz.

There has been a shift of many nice cars from Delhi to Bangalore recently that could also be considered significant.

Like you said most of thee deals happen behond closed door in secrecy which leads to a host of rumors which apparently the buyers and sellers are know to encourage and perpetuate.

The movement of cars to the new collection in Orissa could also be considered significant.
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