With bank accounts rarely offering interest rates of greater than 1 per cent, many of us are turning to other places to place our money in the hopes of a healthier return. Some savvy savers have turned to stocks and shares to attempt to increase their nest egg or recover from a pandemic that broke many of our bank balances. However, the risk of placing bets with our money can feel too great for several potential investors. The classic car market has continued to boom during the pandemic, unlike so many other industries. A surge in spare time for enthusiasts
*Image by Nakhon100 Many people have opted to look at alternative forms of investment with uncertainties around pensions over the last few years. The annual Frank Knight wealth report lists the 'objects of desire' and demonstrates specific sectors' growth. Classic cars are included in this report demonstrating their investment potential. The highlight in the 2020 report was a 1994 McLaren F1 LM spec supercar. Which set a record for the model when it was auctioned by RM Sotheby's at the Monterey sales in August 2019 for US$19.8 million. Analysis by Vanarama and Hagerty Insurance has found that classic
This Lotus Elite was the first ever Elite to be sold to a customer, and it debuted at the 1958 Earls Court Motor Show, and it's going to be up for auction at Silverstone via a live online auction from July 31st to August 1st. This is a true piece of classic motoring history, and it will be very exciting to see how much this Elite fetches at online action. There's a lot of history behind this beautiful little sports coupe. It was originally sold to Chris Barber, the jazz legend, who took the car and prepared it as a
Regardless of where you are in the world, there is one major downside to motoring that is irrevocably true – depreciation. You can buy a brand new car, and the moment you drive it out of the showroom, its value has already decreased. It’s a given, and we accept it. However, there comes a time in most cars lives, when the depreciation and loss of value stops, and it’s value actually starts to increase again.
What’s your limit when it comes to purchasing a classic car? In the past decade, the classic car market has exploded. After the financial crisis, interest rates dropped to almost nothing, that combined with people being in a financial position where they could finally buy their dream car, led to a huge increase in the value of classic cars. Take a look at these 5 classic car sales, they are among the most expensive classic car sales to ever go through at auction. Bear in mind, these are only the public sales, it’s believed that the most expensive classic cars
Many people are lured into the world of classic cars due to their character and stunningly good looks. Even inexperienced car enthusiasts who are new to the world of classic cars can find that classic car ownership is an incredible thing to experience; with a great balance of car maintenance and driving on the open road. During the process of buying a classic car, there are a number of things which you need to consider. In this article, we offer 3 top tips for buying a classic car. Keep reading to get the tips! The Cost of Classic Car Ownership
Everyone loves a classic car. I mean, even people with no interest in motoring love the surprise sight of a classic car on the weekend or at shows or fetes. Owning a classic car is a labour of love or course, but what about the concept of purchasing a classic car as an investment? If you are thinking of investing some of your earnings in a classic vehicle there are a few thinks to be aware of…