Nostalgia drives Classic Car values
With money earning nothing on deposit and the baby boomers having disposable income, Classic Car values are red hot at the moment.
Investors taking the old adage, “they won’t make another one” are piling money into early cars fuelled by nostalgia.
The Mini is a classic example. This 1968 Cooper Mark 2 sold for £8100 in 2006, and has just gone under the hammer to a new lucky owner for £11000.
1960’s Mark 1 Coopers have gone through the roof at £25000 plus.
Will the bubble burst? Well in the late 80’s a similar pattern emerged and by 1991 Classic Car values were falling like a stone. So with interest rates set to continue at an all time low, the market may well continue to be strong.
In any event long term investment in classic cars has proven a worthwhile choice for investors.
The Ferrari Dino is one of the strongest performers..3 years ago £125,000 for the best example. Now £250,000 plus!