Values are continuing to rise – and this weekend’s Classic Motor Show, held at the NEC in Birmingham, is set to feature auctions of many in-demand classics.
Dealers says that, while some are brought as an investment, motorists are also choosing classics for their ease of maintenance and exemption from road tax.
Over 1000 classic cars will feature at Birmingham’s NEC this weekend. ‘Although some classics are not for everyday use, we are selling a lot of cars to people as investments,’ said James Szkiller from the Classic & Sports Car Centre.
‘They are looking at the banking crisis and they want to put their money into something safe, which they can enjoy.’
It’s Aston Martins and Ferraris that are setting the record prices. And they are taking the rest of the market with them.
‘People who would have bought a £100k Aston DB5 eight years ago, can no longer afford today’s £250k price-tag, so they’re having to look elsewhere – and it’s this demand which is dragging everything up,’ said Simon Charlesworth, editor of the classic website, www.dep-o.co.uk.
‘At the top of the market, you have people buying classics as an investment, and at the entry level, you have people turning to classics because they are more affordable to run and maintain – and we’re not just talking about pre 1973 cars which are exempt from road tax…
‘More and more people are turning to classics because of the recession. They are far simpler and owners can maintain and repair them themselves. Even a specialist classic agreed value insurance policy will cost you a lot less than a policy for a modern car!
Thinking of moving into classic car dealing? Here’s what’s out there…
- Up to £5000
Morris Minor 1000 – Not sexy, but so tough, it feels as if it’s made from cast iron. How many other 60-year-old classic are still on the roads grafting for a living?
MG Midget – It may be small, but there’s more interior room than you think. Fantastic spare parts back up (you can even buy a new body for one).
- Up to £15,000
Citroen DS – Smooth-riding icon which is still groovier than ever. Handily, it’s height adjustable suspension makes it impossible to clamp or tow away.
Triumph TR6 – Six-cylinder sports car that was the last of the real Triumph TRs. Great spares back up and an exhaust note which embarrasses some V8s.
- Up to £25,000
Bristol 401/403 – Classy, understated beauty with aerospace build quality and sweet two-litre six-cylinder. This is a serious contender for the coolest car of all time.
Alfa Romeo Giulia Sprint GT – Eye-popping Italian looks, a legendary twin-cam engine and handling which will bring tears to your eyes. One of the truly iconic Alfa Romeos.