Investing in Classics
Jul 15, 2021 9:22 AM - 560 Views
It’s no secret many people have taken to investing in classic cars as a fun way to grow their personal wealth.
And while we’ve seen values of particular models rise dramatically in recent years, the market in general has surged substantially.
As recently declared in a Financial Review article, prices for rare classic cars are skyrocketing “faster than gold.” This has led some to believe certain classic vehicles are a more stable investment than gold, stocks, cryptocurrency, real estate, etc.
This is an issue we’ve covered many times before. While some wondered if the COVID-19 pandemic would kill car collecting as a hobby, we saw the exact opposite happen. It turns out when you take away swanky vacations and a lot of other activities, forcing people to stay home, they turn to collecting classic cars in a big way.
That intensified interest in collectible vehicles has only fueled value increases. As the market goes, there’s a very limited supply of these old cars, so when demand for them rises, prices go in the same direction.
Of course, the supply of gold, vintage wines, high-end real estate and other popular investments are also limited. However, there’s another perk to collecting classic cars: they’re far more entertaining to own.
For many, collecting classic cars isn’t just about the money. Anyone who’s a gearhead---and even a fair amount of people who aren’t---understand having some cool rides in your garage is more entertaining than stocking up on gold bullion or bottles of wine.
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