Car lovers don’t need much encouragement to lavish love on the old jalopy they keep polished up in the garage. So here’s a fact designed to make them back-flip with joy: as well as the source of endless enjoyment, that old weekend runaround might turn out to be one of the best investments they’ve ever made.
In his blog this week, ValueMyStuff.com’s Patrick van der Vorst looks compares the classic car market to the market for gold, and discovers that the petrolheads have it hands down over the gold bugs when it comes to long term financial returns.
While the price of gold has increased just five-fold since 1970, the potential value of an Aston Martin DB5 saloon or Ferrari Dino over the same period has gone up by over thirty times!
If you’re thinking of placing a classic car at auction, online or off, why not check out Patrick’s video on pricing strategy, including tips on how to set the estimate low enough to entice bidding without exposing yourself to too much pricing risk.
And if you’re thinking of restoring an old car, take a look at Patrick’s advice on some of the principles of restoration, applicable to all kinds of collectables and antiques.
As ever, don’t forget our competition to win 1 of 3 iPod Shuffles. We choose our second winner at the end of this week – just come and “like” us on Facebook for a chance to win!