Values are soaring with Japanese models joining their European counterparts as an alternative investment
There is one asset class that has always grown steadily, without ever falling, over the past 20 years – classic cars.
Money looked at classic and modern cars in September last year and at the time pointed out that of the various “mainstream” investments available, nothing has anywhere near the returns and security of classic cars.
In that article we discussed a number of cars, including the Porsche 930 Turbo and Porsche 944. We mentioned then that in July 2015 there were eight Porsche 930 Turbos on carsales.com.au for an average of $90,000 each. Now the average price is $340,700 just over 24 months later, with one example currently listed at almost $360,000. Porsche 944s have performed similarly, with 29 cars for sale in February 2016 for an average price of $27,480, whereas the average price now is $44,220, with one listed for $125,000.
Another good example is the Jaguar XJS convertible, which we were purchasing in abundance earlier last year for an average of $13,400. The cars are now selling on Carsales and other platforms for between $45,000 and $80,000.
This story is from the November 2017 edition of Money Magazine Australia.
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This story is from the November 2017 edition of Money Magazine Australia.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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