Classic cars/collection items have always been popular amongst rich people. Yet most of the time the practically of the product is little or maintenance costs are extremely high (parts are rare/hard to find/expensive and so on). What’s interesting is that automobiles drop in value as soon as you take them out of the showroom but can appreciate much later on in life if they become rare/are in demand.
Do you think this is down to luck (finding the right investor who wants that vehicle, the style of the car may be considered unique now and so on) as not all automobiles will experience this appreciation?
100-year-old Silver Ghost manages 15 miles to the gallon and is said to still be capable of "cruising" at 60mph.
originally bought in 1912 for about £1,000…. now gone under the hammer for £4,705,500; the most expensive Rolls-Royce ever sold at auction.
Check out the article here: http://www.telegraph.co.uk/motoring/classiccars/9…
This car would have been rare to begin with, the low volume makes and models will obviously see higher appreciation ( not that finding the right buyer doesn't have anything to do with it). But popularity will also see classic vehicle values fluctuate a lot.. That said, a car like this is a whole different ball game, its basically art
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