Classic Car
Values
Hanna Nilson
Classic or antique cars are generally considered
to be at least 25 years or older. If you’re a classic car collector,
hobbyist or are simply interested in this particular genre of automobile;
you’re in for some great news!
People have many reasons for restoring, collecting
and investing in classic cars. Whether it’s for nostalgic purposes, a
vehicle’s significant historical account, aesthetic appeal or purely as a
productive and creative use of extra time; classic car values are
practically a guarantee. They not only have the element of unique
historical value, but the potential to incur a significant financial
return. As compared to other cars in the rest of our current automotive
market, the classic car industry is a safe place to be.
We’re all aware of how auto makers are on edge with
the struggling economy. In January, GM reports sales to have dropped with
a -48.9% loss. This significant financial drain has made many people
uneasy about the future of the American automotive industry. On the other
hand, in the long run; if a classic car is well restored, treated and
maintained, future sales can generate phenomenal prices. This doesn’t
change the fact that, as it is with any investment, you must be willing to
take the risk. Nonetheless, there are always a few exceptions in the
market.
Forbes.com, which is a financial and business magazine, has featured
reports on some of the rock- stars of classic cars sold at auction. For
anyone keeping an eye out for increasing classic car values, you may find
these beauties to be quite the inspiration.
1938
Talbot-Lago T150C SS
Price: $3.9 million
Date of Sale: Jan. 22, 2006
1967
Ferrari 275 GTS/4 NART Spyder
Price: $4.0 million ($4.1 million adjusted for inflation)
Date of Sale: Aug. 21, 2005
1929
Mercedes-Benz 38/250 SSK
Price: $7.4 million ($7.9 million adjusted for inflation)
Date of Sale: Sept. 3, 2004
1935
Duesenberg SJ Speedster
Price: $4.5 million ($4.7 million adjusted for inflation)
Date of Sale: Aug. 15, 2004
1930
Bentley Speed Six
Price: $5.1 million ($5.4 million adjusted for inflation)
Date of Sale: July 23, 2004
1937
Mercedes-Benz 540K Special Roadster
Price: $3.6 million ($4 million adjusted for inflation)
Date of Sale: Jan. 18, 2002
1962
Ferrari 330 TRI/LM
Price: $6.5 million ($7.2 million adjusted for inflation)
Date of Sale: Aug. 16, 2002
1956
Ferrari 410 Sport Spyder
Price: $3.8 million ($4.3 million adjusted for inflation)
Date of Sale: Aug. 17, 2001
1966
Ferrari 330 P3
Price: $5.6 million ($6.6 million adjusted for inflation)
Date of Sale: Aug. 19, 2000
1964
Shelby Cobra Daytona Coupe
Price: $4.4 million ($5.2 million adjusted for inflation)
Date of Sale: Aug. 19, 2000
In May, 2008, a Ferrari 250 GT California Spyder was
sold for a shocking $11million! This car was once owned by U.S. actor
James Coburn and it’s now known for being the most valuable classic car to
ever sold at auction. As any car collector would know, finding a quality
classic car is tough business. Furthermore, trying to find a particularly
exceptional classic car is nearly impossible. So, if you’re one of the
many classic car fans, keep it up! – You never know, your classic car
could be a diamond in the ruff!
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