Matt Prior's tester's notes – how to make money with classic cars
Source : Matt Prior's tester's notes – how to make money with classic cars
Property, gold along with also artwork are all ripe with investment potential, along with also right now This particular’s the turn of the classic car market too
There is usually a brand-new money-producing scheme. Oh not bad. although I’m afraid This particular is usually not for the likes of you. Unless, perhaps, you’re an “elective professional investor”.
The brand-new scheme is usually by a company in which has made its name “offering innovative, tax-efficient investment products partnered with management teams who possess expert knowledge in their respective sector”. Which all sounds jolly exciting.
This particular ‘respective sector’ is usually classic cars. Yes, serious investment comes to car trading. What a time to be alive. The scheme – in short – involves giving money to experts, who will buy classic cars with This particular along with also then sell them on later for as much as they possibly can.
This particular’ll even be fun, they say: buy a classic car along with also, unlike gold, you can enjoy your investment along with also go to related events during the process. They acknowledge, however, in which the classic car market is usually not as buoyantly foolproof as recently, when you could have bought an old Porsche 911 one year along with also sold This particular for about four times as much the following year.
So, like riggers drilling to extract the last few barrels by a drying oil field, the experts are going to mine ever-narrower seams of profit, extracting maximum value by classics in which have not yet had their turn – cars in which might still be affordable right now although, if they can help This particular, will not be again any time soon.
not bad God, I find in which depressing. As if prices of cars hadn’t become delusional enough of their natural accord, somebody is usually out there to identify niches in which have not yet been exploited along with also push them as high as they can.
Recently, a Mk3 Ford Escort RS Turbo sold for more than £70,000, after fees, at auction. Yes, definitely, the sort of car in which enthusiastic young lads might have set about on the driveway, sparking a lifelong love of driving cool things, right now sells for the cost of a Porsche Cayman GT4.
Perhaps an RS owners club meet is usually one of the events This particular scheme has in mind.
I largely think in which if somebody owns a car, they’re welcome to do whatever they like with This particular, although I’m prepared to make an exception here. Those behind the scheme are right: cars are not gold or commercial property. They move. They involve. They have a soul. along with also if anything increases the number of classic cars being driven along with also enjoyed, I’m all for This particular. The enthusiast loves a car. A ‘professional investor’, no matter how much he or she likes cars, will see This particular as an increasing number of pound signs.
I am realistic. I am a capitalist. I might always prefer to be wealthier today than I was This particular time yesterday. although still: how wrong is usually This particular to trust the classic market falls flat on its arse?
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