This is the last in our Invest Smart Series. If you need a quick recap, here are the past installments:
- Classic Car Prices
- What Drives the Market
- Approach to Investing – Part I
- Approach to Investing – Part II
In this installment we will get to the meat of the matter – the best collector cars. This is a driving question that many potential collectors ask, what kind of car should an investor look for? What makes a car “eligible” or gives it characteristics that make it collector quality?
Industry experts advise seeking out cars that are eligible for shows or events. These will become market drivers in the industry and draw people into collecting cars.
There are several types of classic car events. The circuits and road tours are geared more for the average collector or hobbyist. However, historic concours are where the big kids play. These high end car shows are where the best of the best go to show their stuff. They have high end car auctions and that is where you want to focus if you want to be a serious collector.
Cars that are of the concours caliber are the best investments. They have earned points within their class and have been vetted by a qualified judge. In other words, you know what you are getting – and you are getting the cream of the crop.
The classic car market has three primary events and seasons that drive the collector car market:
January – Arizona Concours D’Elegance – Scottsdale, AZ
March – Amelia Island Concours D’Elegance – Amelia Island, FL
August – Pebble Beach Concours D’Elegance – Pebble Beach, CA
The best known Northeast concours is the Greenwich Concours D’Elegance, held in Greenwich, Connecticut in May.
These events are where you will find your investment cars. Sure, you could find that hidden gem out in some farmer’s field in mint condition, but the chances of that are extremely slim. When it comes to investing do it smart; don’t play with your money – the odds are greater that you will lose.
Do your homework and attend these events. Look for the car that speaks to you, that means something to you – as a lover of cars and as an investor. Each classic collector car is unique and special in its own right. Each one has its own special beauty, its own history, and its own stories – and when a car’s stories intertwine with your own it is truly beautiful.
How much a car is worth, how fast it goes, how much it costs, are all irrelevant. Car collectors don’t do what they do because they want to be wealthy. They do it for the love of the cars.
When you are ready to add a car to your private collection, Woodside Credit is here to help you make it happen. With our easy terms and great financing options you’ll be adding that special car to your collection in no time. Visit our site to see how we can help you today.