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Vintage cars are cinematic artifacts’ that hold historical value and are rare. Not all cars are so valuable e.g. Renault 5 is historic but not suitable for vintage collection. Limited edition models and exceptional features make such things valuable. It should have a story which is extraordinary. For example: Bugatti produced only 8000 vehicles in 30 years and now, it is an antique. The cars released in markets before 1918 are called vintages, which includes the ones designed during the two World Wars. Many Bonham auctions launched motor cars, bikes and related memorabilia that are extensively bought by collectors. Ferrari 250 GTO is favorite vehicle of collectors as it is rarest – where only 39 pieces were ever made and at auctions such vintage pieces get millions.
The US collectors and rapper Wyclef Jean collection include Bentley Arnage and Rolls-Royce Phantom. Jerry Seinfeld has 15 different types of Porsches produced in years from 1949. Ralph Lauren the fashion designer has cars that include 1958 Ferrari 250, 1955 Jaguar XKD, 1937 Mercedes Benz etc.
The largest number of collectors of such vehicles can be found in US, UK, Germany and France. Buyers from other regions such as Africa also invest in auctions to keep it in museums, or showcase during global events or to join clubs. One such events Concours d'Elegance is held in Kenya as well, where such antiques are showcased just the way it were paraded in France with carriages drawn by horses during summer holidays or weekends.
Not all cars get high values in auctions. Sometimes, the cost of restoration can be more than the price. It is advised to buy the ones with low mileage and low rust. It’s better to invest in the ones, which were not owned by a number of collectors previously.
Collectors investing in such things seek solutions to put it in place that led to the growth of vintage warehouse concept in the real estate market.
How to store classic cars: the growth of vintage warehouses
Finding a secure room for vintage Porsches, Plymouth and Ferraris is becoming a task for rich collectors that led to the increase in demand for warehouses to store luxury cars. Wealth managers find the demand is increasing in real estate sector where entrepreneurs and investors are seeking places to stores thousands of expensive vehicles.
Car collection is mostly started as a hobby and many new collectors invest in it, where they expect to store their valuables in safe, somewhere, away from their residence, protected.
Car storage is still in a growing phase but collectors markets are continuously growing, which can raise the need for such storage provisions. In US, new warehouses for storing such collectors’ items are in construction process where one pays in the range of $850-$1,500 per month for each parking space. A Los Angeles based warehouse investor said a unit that can hold 140 such cars is being constructed close to the beach where it can hold more than 140 cars. Although the facility will open in summer, at present, he has a waiting list of 85 people looking for such spaces.
To find out more about investment in vintage cars, check 99 Alternatives at (http://www.99alternatives.com).
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