One of the most prestigious classic car auctions has recently taken place with some spectacular sales being achieved. This just goes to confirm that, despite the uncertain global economy, there are always going to be people that have substantial funds to invest.
Classic cars do seem to be proving a very good form of investment as significant increases in prices are being seen. They are often proving to be a better investment vehicle than some more traditional areas of investing your money. Hopefully, this situation will continue but there is of course no guarantee of this being the case so, if you are purchasing a classic car with a view to selling for a profit in the future you need to make sure that either you know what you are doing or you are being guided by someone that does.
We thought that you would find it interesting to hear the top ten prices of the cars sold at the Pebble Beach car show in Monterey, California a few days ago: –
1. 1967 Ferrari 275 GTB/4*S NART Spyder: this sold for £17.5m
2. 1957 Ferrari 250 GT TdF Berlinetta: this achieved a sale price of £6m
3. 1953 Ferrari 375 MM Spyder: this went under the hammer for £5.8m
4. 1937 Bugatti Type 57SC Atalante: this sold for £5.6m
5. 1997 McLaren F1 Coupe: this achieved a sale price of £5.4m
6. 1928 Mercedes-Benz 680S Torpedo Roadster: this went under the hammer for £5.3
7. 1939 Mercedes-Benz 540K Special Roadster: this achieved a sale price of £4.8m
8. 1955 Ferrari 250 GT Competizione Berlinetta: this sold for £4.6m
9. 1948 Alfa Romeo 6C 2500 Competizione Coupe: this went under the hammer for £3.1m
10. 1931 Bentley 4.5-Litre Supercharged Le Mans Roadster: this achieved a sale price of £2.9m
In years to come it will be interesting to find out if any of these classic cars are sold yet again and, if so, if they have increased further in value.Are you one of those purchasers?