Those of you that are classic sports car enthusiasts will be aware that many such vehicles have risen significantly in value in recent years. In fact, they have proved to be one of the most financially beneficial things to invest in – certainly better than bank and building society savings accounts although you may say that is not difficult to achieve with interest rates so low.
Well, you may be interested to read that some research was recently carried out to mark the 100th car that was renovated on the Wheeler Dealers program on Discovery Channel. That program was shown on 6th October 2014.
The research looked at the price that classic cars were going for way back in 2004 and compared them with the price that you could expect to achieve in 2014 – a gap of 10 years. The survey focused on the percentage increase of 20 classic cars.
If you have been the proud owner of a classic Porsche 911 Carrera RS 2.7 for at least the last 10 years that is now in good condition then we hope that you are sitting comfortably! Apparently, back in 2004, such a classic vehicle was going for around £65,000 on the open market. It is estimated that this iconic sports car is now worth in the region of £500,000 – an increase of a staggering 669% and quite a bit more than you would have got in a Cash ISA!
We thought that you might like to look at the list of the top 10 classic car investments in percentage increase terms for the period from 2004 to 2014: –
1. Porsche 911 RS Carrera 2.7 – 669% – £65,000 (2004) to £500,000 (2014)
2. Aston Martin DB5 – 500% – £75,000 (2004) to £450,000 (2014)
3. Aston Martin DB6 – 478% – £45,000 (2004) to £250,000 (2014)
4. AC Cobra – 333% – £150,000 (2004) to £650,000 (2014)
5. Aston Martin V8 – 295% – £19,000 (2004) to £75,000 (2014)
6. Land Rover Series I – 233% – £6,000 (2004) to £20,000 (2014)
7. Jaguar E Type – 171% – £35,000 (2004) to £95,000 (2014)
8. Lotus Elan Convertible – 142% – £18,000 (2004) to £43,500 (2014)
9. Ferrari Testarossa – 140% – £25,000 (2004) to £60,000 (2014)
10. Chevrolet Corvette – 132% – £28,000 (2004) to £65,000 (2014)
You will note that the Aston Martin DB5 and DB6 featured in 2nd and 3rd place respectively. We bet that brings a smile to a few Porsche owners’ faces!
AIB Insurance specialise insuring high performance and exotic cars including Porsche 911’s. For a free quotation tailored around your needs call the team on 02380 268351.
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