Classic Cars Prove To Be A Great Investment

Whilst many other sectors of investment are not really doing particularly well the classic car market is certainly performing very nicely at the moment. Whilst many people that purchase a classic car have absolutely no interest in the fact that it may increase in value it must still give them a warm, reassuring feeling inside.

classic cars are a popular form of investmentMost months sees another record being broken at some classic car auction either here in the UK or overseas. In one particular week this year £147 million exchanged hands for classic car sales at just 4 auction houses.

At the higher end of the classic car market vehicles are being sold for £1 million to £20 million.

Many international classic car events are sold out such as the Goodwood Revival but there are numerous car shows held each weekend in the UK alone – never mind all those abroad. Chris Evans has organised events such as the CarFest because of his love for classic cars.

An E-Type Jaguar costing £2,000 in 1961 has increased in value 50-fold. How many other investments have achieved this level of increased value?

In 2007, the 1971 MGB Roadster owned by Terry Waite that went through a restoration project at the time he was a hostage, sold for £5,000 – today it has come back on the market having doubled in value to £10,000.

So, why not visit one of the classic car auctions that are regularly advertised on the Internet to “get a feel” for what is currently available. Do not rush in and make a hasty decision to purchase the first thing that takes your fancy – use your first visit to observe, listen and ask questions of people attending a classic car auction.

Who knows, in a few weeks time, you may be the proud owner of a beautiful classic car that you will be proud to take out on a weekend trip and show off to your friends.

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