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Investing in Classic Cars

When the stock market turns bearishly moody, those who have invested in ‘the past’ can pat their Ming vase or antique furniture and smile. Classic, vintage or veteran cars have often been known to have a similar effect.

To clear away the obstacle of definitions first, cars manufactured before 1903 are called veteran cars, between 1903 and 1933 are known as vintage cars and those that are at least 15 years old are grouped under classic cars.

In America, at a recent auction by Christie’s a 1952 Bertone Abarth coupe, marked to sell around $80,000, was knocked out of competition by a bid of $293,500. While in France, a 1932 Bugatti Type 51 is expected to rage away with a price of about $1 million. Not all cars demand such respect however. Your price will come in the form of substantial research, professional appraisal and perhaps, high cost of maintenance.

 

Market watch could also include the activities of Hollywood or the name tag of the previous owner. One example would be the Mini Coopers of the 60s used in the movie, the Italian Job. They now cost much more than other Minis of the same period. Movies are a rich indicator for things to come and as a potential investor, know when to act.

The car market can be unpredictable but for great wheels, the pick up is still good. Some low budget, low maintenance cars with good potential include the BMW 2002 series and the Alpha Romeo Giulia coupe.

As a simple rule, if you do not love cars, do not look upon them as an alternative to bonds and equities. They might take more out of you than you bargained for and perhaps deliver less than you expected. There is however, comfort in the form of cheaper car insurance and tax relief for classic cars.

If you would like more information, please complete a Quick Enquiry Form.

Visit us at www.carinsurances.co.uk to make sure you are getting the best rates for your car insurance.

 

UK Investments - Financial, Property & Other Investments - 1998-2008

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