Why Vintage Cars Are a Better Investment Than You Might Think
Want to have the finer things in life and sell them too? Get some aging wheels.
Car collectors, rejoice: According to the annual (and authoritative) Knight Frank Wealth Report, vintage cars are the most profitable luxury investments. Ferraris, Jags, and Lambos are all appreciating faster than watches, Chinese ceramics, wine, art, and jewelry. And not by a small amount. Over a five-year period, the average high-end vintage car has gained 121 percent in value. Over 10 years, that number spiked to 456 percent.
And, unlike other luxury assets that move with the market, cars have kept trending upward largely unaffected by recession. On some level, this is predictable. Vintage vehicles require consistent upkeep, which is expensive and increases the value of automobiles without increasing profits for those selling them. Wine, on the other hand, doesn’t need its oil changed. But the difference in appreciation is marked enough to suggest that the cost is worth it. In fact, the only other collectible that might make as much sense as cars is stamps, which don’t gain as much value (250 percent over 10 years), but cost nothing to maintain. Here’s the thing: They’re stamps. If you’ve got the money, buy a car.
Looking to get into the game? At the end of this month, Mecum Auctions will be setting up camp in Harrisburg, Pennsylvania, displaying more than 1,000 vintage cars. Make a bid – your indulgence will pay off.
Photos by Jaguar
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