by GIANLUCA BARDELLI
Retromobile, the annual classic car exhibition held in Paris, has once again fascinated car enthusiasts with its multitude of surprises. The edition just concluded at the Porte de Versailles left visitors speechless, exceeding all expectations.
One of the highlights of Retromobile 2024 was undoubtedly the presence of two GTOs, and we're not talking about Chryslers, but Ferraris! These beautiful and historically important cars stole the show. Not to be outdone, there was also a stunning selection of Le Mans cars, Alfa Romeo 8C, Mercedes, Bugatti Iso Rivolta De Tomaso and a variety of sports cars from the legendary house of the Prancing Horse. As often happens, Italians demonstrate that they “do better”.
In addition to the impressive lineup of cars, the market performance during the show provided predictable but surprising results. Despite the challenge posed by the global economic situation, both Bonhams and RM-Sotheby's achieved an impressive sales rate of 85%. This extraordinary result says a lot about the resilience of the classic car market.
Additionally, the market has witnessed a reorganization of prices, with some trending downward, others remaining stable, and some even experiencing growth. This change allows for a refreshing renewal in the industry. Speculators, looking for investment alternatives, are starting to explore and consider more accessible numbers and values. Collectors, always aware of investment opportunities, are eager to return to indulging in their passion.
Importantly, some cars have seen appreciation rates as high as 400% over the last decade. Therefore, it would be premature to characterize the current price decline as a crisis.
One of the notable aspects of Retromobile 2024 was the attention to detail in the presentation of the exhibition stands. The care and appeal of events like this continue to attract fans from all over the world. Furthermore, the ever-increasing number of young people attending the event is a positive sign for the industry. Many of them were initially interested in seeing modern supercars and celebrity appearances, but soon found themselves fascinated by historic gems with unique designs and rarity. This new awareness on the part of the younger generation indicates the vitality and growth potential of the classic car community.
Considering the importance of attracting a younger audience, it could be advantageous for such fairs to offer discounted entry rates, aiming to make the experience more accessible. By focusing on young people and offering them more opportunities in this challenging society, we can shape their passion for classic cars and ensure a vibrant future for the industry.
As we bid farewell to Retromobile 2024, the automotive world eagerly awaits the next edition of this iconic exhibition, where classic cars will continue to fascinate and inspire enthusiasts from all over the world.
by GIANLUCA BARDELLI
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