Classic cars certainly look pretty awesome. Collecting classic vehicles isn’t all about looks though. Buying a true classic can be a valuable investment. According to one study done in the United States, despite the current economic climate, the classic car market is growing on average by 0.7% a year. That’s not bad for an investment that also lets you have a great looking vehicle to drive around in!
Though the definition of what makes a car a classic varies, most agree that the vehicle needs to be at least thirty years old to qualify. Of course, just buying isn’t enough. You will need to stay on top of maintenance to get the most out of your investment. There’s one other concern: insurance. Most insurance companies won’t insure classic cars under their regular policies, so you might need to look for a company that has specific classic car policies. Other than that though, if you’ve got cash that needs to be invested, classic cars can be a great part of your portfolio. Interested? Then check out our list of the 10 most classic cars!
1. The 1958 Buick Limited Convertible
Coming in at the top of our list is the 1958 Buick Limited Convertible, said to have more chrome than any other vehicle made! This car is in the number one spot as experts have predicted it to be the best classic investment: not too pricey right now, but potentially very valuable. In mint condition the Buick goes for around $100,000 (around 1.2 million Rands).
2. The 1925 Rolls Royce Phantom I
This Rolls is a true classic, and one of the most desirable cars on the classic market. Smooth, elegant, and famed for both its reliability and its speed, the Phantom was produced in the UK between 1925 and 1931. The problem? On today’s market a Rolls Phantom costs around $1.2 million (about 15 million Rands).
3. The 1959 Cadillac Eldorado Biarritz
Valued at around $200,000 (2.5 million Rands), the 1959 Cadillac Eldorado Biarritz is a fairly affordable classic car. This sporty American convertible not only looks cool, but it’s a great drive too. Pro tip? Look for models with bucket seats, as these tend to be worth more.
4. The 1955 Mercedes Benz 300 SL
As you can probably guess this vehicle is most well known for its famous gull-wing doors, making it look very James Bond! Produced in Germany between 1954 and 1957, the Mercedes Benz 300 SL is currently valued at around $4 million (about 49 million Rands).
5. The 1972 Alfa Romeo Montreal Coupe
This sporty little Alfa is definitely deserving of its place on this list, simply because of how quickly its value has grown. In 2007 the Montreal Coupe sold for around $40,000 (about 495,000 Rands). However, right now this vehicle is valued at about $128,000 (around 1.6 million Rands). That means the value has tripled in just seven years…
6. The 1961 Facel Vega HK500
The Facel is probably the most unrecognizable car on our classic cars list, but it’s not only well known names that are valuable. This French vehicle was produced between 1958 and 1961, and was famed for its high speeds. Nowadays, the Facel is valued at around $100,000 (about 1.2 million Rands), so it’s pretty affordable for a classic car.
7. The 1961 Jaguar E Type
Jaguars are always popular models on the classic car market, which can be a concern if you’re thinking about re-selling. And the E type is widely considered to be the most beautiful model Jaguar ever produced. Valuation varies a lot, and is heavily dependent on the condition of the car and original fittings and fixtures.
8. The 1962 Ferrari 250 GTO
The chances of getting your hands on one of these Ferraris is pretty slim, but the 250 GTO has to be on our list for one reason: this is the most expensive classic car ever bought at auction. In 2014 the Ferrari 250 GTO fetched a massive $34.65 million (that’s about 440 million Rands). So if you’ve got one sitting in your garage, now might be the time to sell…
9. The 1970 Oldsmobile Cutlass 442-W-30 Convertible
Valued at around $100,000 (about 1.2 million Rands), this Oldsmobile makes a fairly affordable first investment in the classic car market. It’s good looking, a fun drive, and most importantly for investors, there was a limited production run on the Cutlass, meaning there are fewer around and therefore it’s likely to go up in price.
10. The 1937 Bugatti Type 57 SC Atalante Coupe
Finally, another pricey little number, one of these babies fetched $8.7 million (about 107 million Rands) at auction in 2013, and it’s clear to see why. This car is a true classic, with long, sweeping lines that make it a real 1930s vehicle. It might be a little costly for a beginner investor, but we can all dream…
Classic cars can make very profitable investments. Over the last decade classic vehicles have shown a 469% gain on investment (as compared to other collectible items, such as art that gained only 226%). The initial cost can be daunting, but the rewards could be worth it. Just don’t forget to insure that classic with a great policy, otherwise your investment could come to nothing!
Main subject: classic cars
