Are Ex WWII Aircraft Getting Cheaper?

[extralite]

I seem to remember 30 years ago that aircraft such as Spitfire's were worth a lot more in real terms then they are today. A quick look for listings shows a 1945 model in great condition (Griffon) for around US$2.2 m and older listing around US$2-3m.

While not saying this is cheap, compared say to housing it doesnt seem to have appreciated much, and doesnt seem to have gone up at all in dollar terms since the 80's? So in real terms they seem to have got a lot cheaper.

Anyone else who has tracked the prices of WW2 warbirds over the years noticed this?

[rolling20]

Whether this has anything to do with it I am not sure. I read somewhere on the classic car scene that older classics were struggling as people who remembered them as youngsters were dying out. Newer classics from the 60s/ 70s/80s become the vogue. Certainly my children do not look with enthusiasm at a Spitfire as I did as a youngster. Just a thought.

[extralite]

That was my theory too. The cars fetching the most money now are from the 70's generally here anyway. Odd to see a Spitfire as an affordable machine now.

[Video Mixdown]

Is this not simply supply and demand in action? There are simply more airworthy Spitfires around today than there were 30 years ago. Most of those sitting on poles at RAF bases were taken down and restored to flight, plus there have been a number of 'restorations' from wrecks - effectively new aircraft - entering the market.

[Fareastdriver]

'restorations' from wrecks

Dig up a data plate and you have yourself a Spitfire.

[rolling20]

Is this not simply supply and demand in action? There are simply more airworthy Spitfires around today than there were 30 years ago. Most of those sitting on poles at RAF bases were taken down and restored to flight, plus there have been a number of 'restorations' from wrecks - effectively new aircraft - entering the market.
I get the supply and demand thing, but genuinely believe that it is a somewhat limited market. One wonders what the cost of a fully restored Spitfire must be if it has literally been built from scratch. Is there much profit in it?

[VictorGolf]

I don't think the Griffon Spitfires are valued as much as the Merlin engined versions. The "Mark 1s" and Mark 9s seem to be highly favoured.

[Video Mixdown]

Is there much profit in it?
You'd have to ask the businesses who do it, but I don't imagine they'd be doing it in the first place if there wasn't.

[Rallye Driver]

The Spitfires increasing in value are the two-seaters now they can do 'experience' flights legally and charge for them. Hawker Restorations have even converted a Hurricane to a two-seater, which is based at Biggin Hill.

Before, they were converting two-seaters back to single seat configuration, now the reverse is true.

Of course, Mustangs have long had a jump seat in place of the rear tank.

[treadigraph]

There's only a very few Mustangs that don't have a rear seat, though most do not have dual controls.

I believe the most recent Mossie restoration cost around £5m - one of them has recently changed hands in the US, I wonder how much for.

[GeeRam]

I get the supply and demand thing, but genuinely believe that it is a somewhat limited market. One wonders what the cost of a fully restored Spitfire must be if it has literally been built from scratch. Is there much profit in it?

None at all.

Quite the opposite.

[GeeRam]

You'd have to ask the businesses who do it, but I don't imagine they'd be doing it in the first place if there wasn't.

I suspect he was asking about the aircraft owner paying the bills for it to be done, not the people getting paid to do it ;)