Classic, rare and cult vehicles
Article Publish Date: Wednesday 6 September 2017
Classic, rare and cult vehicles have always been a popular purchase for enthusiasts and in recent years there’s been an increase in their value.
Did you know?
- Cars are not subject to any capital gains taxation*
- Cars have become the number one investment in the world*
- Values increasing nearly 400% in the last 10 years*
Vehicle prices are increasing
- In late 2015, a 1973 Porsche Carrera RS 2.7 Touring sold in New York for just under $1 million (£678,500) – up until that point the most this particular model had sold for was £200,000.
- Last month at Bonham’s Auction in Monterey there were two record sales:
- A McLaren F1 with 9600 miles sold for £15.62 million (which was a record for this vehicle).
- An Aston Martin DBR1 became the most expensive British car in history, selling for £17.5million.
It’s not just classic and exotic cars that are great investments. 1980s and early 1990s cars are now becoming popular investments. A great example is a Vauxhall Nova Sport which sold last month for £66,000. In the 1990s you couldn’t turn a corner without seeing a Vauxhall Nova, but with dwindling numbers left on our roads the values have increased dramatically.
With manufacturers now battling for economy, automation and move away from the conventional petrol engines, it’s no surprise that the classic car market has rocketed.
We take personal lines personally.
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