[anobserver]

I would argue that the baby boomer demographic bulge was largely responsible for sky-high prices. That, and the credit-fuelled asset boom that meant buyers could bid up the limited number of collectible cars.

As the boomers die off, I think pricing pressure will ease: Demography is destiny as they say. Some (cars) will always be more valued than others, like the gts and hos. But with all respect to current owners, I can't see run of-the-mill models (unrestored cars, base models) indefinitely fetching the price they do now. The demand will soften.

With boomers disappearing there is demand from the smaller generation X but beyond that into the millenials and gen z I can't see the veneration for collectibles continuing. Look at the uptake of driver licensing: many of the younger generations even delay getting a driver's licence. That never happened in my (gen x) day. ( yeah, now I'm feeling old...)

The skills base is another issue. Each succeeding generation has fewer practical skills to undertake restorations. Sure, there will always be those who can, but with more white collar workers the ready-made and later models may be more attractive to the fewer number of buyers. Though I do think those that bought the last of the sprints and so on are being optimistic thinking they can cash in.

The other pricing influence is the possibility of a severe economic contraction in which owners are forced to liquidate cars to realise cash. Less predictable than demography but with the potential to incur more pricing volatility in the short to medium term.