The rich invests in classics

Posted on Saturday, 11 October 2008 , 05:10:49 byEmil

Filed under ferrarilanciarichinvestFerrariLancia

The rich invests in classics

Invest in property if in crisis! This is apparently one of the principles rich people live by maintaining, protect the wealth... like cars, estate and jewelry. "It would appear that people would rather buy a historic car and put it in the garage than brave the current stock market," observes Chris Routledge - Coys managing director.

More notable autos auctioned off on the firm’s event Spirit of Motoring on Saturday including a 1996 Ferrari F50 owned previously by the Brunei Sultan. The vehicle, sold at £350,000, the only one that's right-hand drive.

A 300 SL Gullwing 1955 Mercedes-Benz, was sold also, this time with £385,000; the unrestored last remaining Aston Martin DB3S 1955 was bought in for £2 million; and a unique right-hand Lancia Aurelia B24 Spyder for a modest £145,000.

“These are just some of the cars that have been sold and we are continuing to get inquiries from around the world and not just from traditional car collectors but from those who want to get into something different,” says Routledge.