The passion of collecting knows no bounds in the classic car sector,
according to a new index compiled by international real estate
specialists, Knight Frank.The Knight Frank Luxury Investment Index - part of The Wealth Report, launched at Claridge’s today - highlights an astonishing 395% value growth* in classic cars over the last decade amongst high net worth individuals (HNWI).
This supercharged boost in classic car values outstrips all but gold as an investment. It also marks an interesting change in the collector psyche, according to classic car auction specialist, Historics at Brooklands, whose major sales of fine classic and collector motorcars is attracting increasing international interest.
“I believe we are seeing a marked shift in attitudes to investment,” says Historics’ Auction Director, Edward Bridger-Stille. “But for its rising value as a precious commodity, it’s perhaps difficult to get passionate about the possession of gold, whereas ownership of a classic motor car is a truly engaging, ‘head and heart’ experience, aside from being a fast-appreciating asset.
“We are conscious of increased international interest in collector car acquisition amongst those who previously may have prioritised an alternative, more rational investment portfolio,” he continued. “And reports such as that of Knight Frank will continue to drive confidence in ownership in the collector car category.”
Andrew Shirley, editor of The Wealth Report, added: “Our research shows that HNWIs, particularly those from the burgeoning economies of Asia, Latin America and Africa, are becomingly increasingly interested in ‘investments of passion’ such as classic cars. This is helping to drive values ever higher.”
www.knightfrankblog.com/wealthreport
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