With the millennial generation steering the wheel, South Africa’s classic car market is experiencing a powerful revival, fuelled by nostalgia, culture, and a deep emotional connection to the past.
From the box-shaped BMW 325is to the legendary Golf GTI, cars that once ruled the streets of the 80s and 90s are now roaring back as prized collector’s items for a new wave of enthusiasts.
This growing passion, led by “youngtimers” aged between 30 and 40, is redefining what it means to own a classic.
Sesh Govender, Underwriting Specialist at iTOO Classic Cars, explained that youngtimers are drawn to vehicles from the 1980s, 1990s, and early 2000s, cars they remember from their youth or that belonged to their parents.
She highlighted the box-shaped BMW 325is as one of South Africa’s most iconic youngtimers, noting that its significance lies not just in rarity but in the memories it evokes.
Govender added that the appeal of classic cars is driven by nostalgia and personal meaning.
“This kind of idealism fuels the popularity of classic cars. Much like dreaming of a career, a luxury watch, or a rare collectible, owning a classic car taps into nostalgia and personal milestones. It is an investment, but one deeply rooted in emotional value.”
She explained that classic cars are generally defined as vehicles 20 years or older, meaning even models from 2005 now qualify.
“While it may feel strange to call a car made in 2005 a ‘classic,’ the market is shifting, and so is the definition. Another way to define a classic is by value appreciation. If a car sold for R100,000 in 2005 and is now worth R150,000, it is considered a classic because it has surpassed its original sale value.”
Govender noted that the emotional value of classic cars is evident in how owners approach insurance and restoration. Unlike the broader motor industry, where vehicles are quickly written off and replaced, classic car enthusiasts prefer to restore their cars, even when restoration costs exceed market value. Around 90% opt to preserve their vehicles as legacies rather than simply transport.
The rise of online sales for classic cars is another emerging trend, accelerated by the COVID-19 pandemic. Collectors increasingly use the internet to track and acquire rare models.
“If you are into Jaguars, for example, you might set up Google Alerts or regularly check niche dealer websites. Since these cars are rare, you would monitor listings closely. If an E-Type or F-Type pops up, you would reach out immediately, request photos and ask for its history. More often than not, buyers commit without ever seeing the car in person. It’s similar to online shopping, but with much narrower parameters,” she said.
Govender also pointed out that classic car auctions are gaining popularity, often driven by sellers who inherit vehicles from parents or relatives who were avid collectors but lack the knowledge to maintain them. Given the substantial sums invested in these vehicles, specialised classic car insurance is essential. This goes beyond standard coverage, protecting cars with both emotional and historical significance.
“These are not just cars; they are investments, heirlooms, and symbols of identity. Unlike everyday vehicles that lose value over time, classic cars are often appreciated. Policies are structured to reflect this growth, and insurers recommend revaluing vehicles every 24 months to ensure coverage keeps pace with market trends and restoration investments.
“When a new valuation is submitted, the policy is automatically adjusted, ensuring the vehicle remains properly protected. Ultimately, classic car insurance is about more than risk management. It is about understanding the collector’s mindset: the nostalgia, the pride, the craftsmanship, and the emotional connection,” Govender explained.
The Star
masabata.mkwananzi@inl.co.za