Back in 2022, when classic and vintage two-wheeler buying was at times frenzied, to say the least, old scooters blindsided much of the collector community by suddenly becoming must-haves.
Such was the interest - and values - that even the Financial Times asked me to write a piece on this sudden value explosion.
"Scooterism" peaked when the 1979 movie "Quadrophenia" consumed a generation, and in the late twenty-teens and early 2020s, those of us who had been drawn to scooters back then were bitten by nostalgia - and found we had the funds to buy.
Those who got in early even inadvertently made some money out of reselling.
But the issue is that explosions quickly subside - and that's exactly what happened with classic and vintage scooter prices.
"They've fallen off a cliff," said Paul Diamond of https://vintagescooters.co.uk/.
"A Vespa Rally 200 that was £10,000 back in 2022 you'll now get for £5,000, maybe less. Even a rare Vespa SS90 - a nice one - will change hands for £10,000: a few years ago they were £20,000," he said.
"I'm even aware of an ex-Paul Weller Vespa GS160 at £25,000 that nobody's interested in - it's been on the market for a few months. a few years back we'd be looking at £35,000 or so.
"Back in 2015 just about any 200cc Lambretta suddenly doubled in price overnight, and just kept going. 2022 was the height, with half-decent 200s getting £15,000 - and £20,000 with original paint, even £25,000 for an exceptional one.
"Now, those same scooters are £8,000 - £9,000."
The problem, says Paul, is the generations that fuelled the market even just a few years ago either now have the machines they always wanted, or are past being interested - moving on to the next thing.
Those collectors who feel they were caught out by the dip are left with little option but to either take the financial hit an unload their classic scooters, or dust them off and use them.
"There's no youngsters coming through who'd be interested in them," says Paul, "not least because it's so complicated to get through the motorcycle test these days."
But there is an upside.
While enthusiasts with limited budgets looked on enviously as desirable Lambrettas and Vespas were snapped up at prices they could never afford, it's now very definitely a buyers' market.
"Some of those highly-desirable scooters are down in value by as much as half. What were once out-of-reach bikes are now more affordable: I'd say find one that you really want, and make an offer."
Credit for all images belongs to Paul Diamond of Vintage Scooters.
