Fans of the iconic Land Rover Defender who rushed to buy a piece of history are proving to have made a smart investment decision as prices soar.
Automotive valuation specialists Cap say good examples are demanding a huge premium over new list price.
Commenting on the trend, John Watts, senior editor at Cap said: “We have already started to see an upward movement in trade values for Defender in general. This is due to the anticipated demand and potential shortage following the cessation of production.”
He added: “Over the longer term we expect retail buyers to keep their vehicles longer because they know that finding a replacement will be nigh on impossible.
“Defender 90 versions are expected to be the highlight of the range since this model is closest to the original first production versions and Defender with a “premium” conversion will do exceptionally well.”
Cap say a three year old Defender 90 Hard Top with 30,000 miles was valued at £11600 average trade price last June, and now the equivalent aged model is £12300. Indeed, dealers are demanding huge premiums for nearly new vehicles. Nearly new or pre-registred models of Defender are selling for 20 per cent beyond list price. And with 75 per cent of Defenders ever built still on the road, they could prove to be a smart move for investors or enthusiasts.
The Defender has attracted a thriving aftermarket with specialist companies producing enhanced vehicles with prices up to £150,000. Interest is coming from business people and celebrities around the world.