Classic cars are still in fashion this decade

Posted on Friday, 6 September 2013 , 04:09:34 byIulia

Filed under classic-cartechnologypricingauctionOldsmobilePricingTechnology

Classic cars are still in fashion this decade

Even without being an expert in collection cars, it is a known fact that there is always a financial risk that includes cars. The maintenance and storing prices are quite high and the owner will spend a lot of money maintaining them before selling them again. If they select the other option and drive them, the cars will lose more value with more miles, so this is not a solution either. Just for information, the rate of return from investing in some collectibles, especially classic cars, has been much higher in comparison to that of traditional investments. According to different sources and reports, the past decade has been a great tome to invest in blue-chip classis cars. Now, since 2002, the value of these cars has risen by almost 450 %, which is a much larger increase than that of the MSCI World index. We are actually talking about an index of stocks in development markets, which increased by a relatively paltry 147 % during the same period of time. One of the most expensive, ultra-rare classis cars to be sold at auction this year, at Pebble Beach was a 1957 Ferrari 250 GT 14-Louver Berlinetta. The owner obtained $9.46 million. The price has been estimated between $9 million and $11 million. Another model with incredible money power was the 1967 Ferrari 275 GTB/4 NART Spider that was sold for $27.5 million. The most expensive auction car remains the Mercedes W196R F1 racer that belongs to Juan Manuel Fangio which was sold for $29.65 million a bit earlier this year. Back in 2011, a 1957 Ferrari Testa Rossa prototype was sold for more than $16 million. We do realize we are talking about fantastic amounts of money, but it nice even just to imagine. Please enjoy the photo gallery we have prepared below.