After the boom and bust years of the late 1980s, classic cars came to be seen as a duff investment – but that’s all changed during the past decade as values for the rarest and most sought-after models from the most coveted marques have broken through the seven-figure barrier and soared, in some cases, into the tens of millions.
With the world record price for a classic now standing at almost £20 million (achieved at auction for a Mercedes-Benz W196 Grand Prix car in 2013), the right cars are now regarded as being better investments than property, fine art and even gold. But can values keep on growing, and is an old car still a good place to park your money?
In a bid to find out, the FT’s Simon de Burton - who writes about cars for the award-winning How To Spend It magazine – will host an evening discussion between a panel of specialists including collectors, dealers, auctioneers and classic car racers on May 19 at the London Marriott Hotel Grosvenor Square.
The event offers an unrivalled opportunity to learn from the experts about the pros and cons of starting, maintaining and enjoying a collection of cars from the turn of the 20th century to the emerging ‘modern classics’ of the 1990s.
18:00 Registration with a drinks and canapés reception
19:00 How to Buy a Classic Car forum commences