Investing in a classic car might just be the latest trend that has you seeing dollar signs. Forget fine art or flashy jewelry, because it turns out that vintage cars are revving up as the newest hot commodity in the world of collectors. According to a recent report, classic cars have been zooming past art when it comes to investment returns. In fact, over the past year, cars have outperformed art by a staggering 20 percent difference in returns.
But before you rush out to put your money into a vintage Ferrari, it’s important to note that this market is not for the faint of heart. While certain classic cars, especially Ferraris from the 1960s, have been commanding top dollar prices at auction, the market can also be highly concentrated and unpredictable. Much like the thrill of driving a high-powered sports car, investing in classic cars can be a risky venture that requires careful consideration.
As with any investment, there are winners and losers in the world of luxury collectibles. While coins have been quietly gaining value over the past few years, antique furniture has been falling out of favor with investors. The key takeaway? While classic cars might be cruising to the top of the collectibles market right now, it’s important to buckle up and hold on tight for the twists and turns ahead in this high-speed investment arena.
