Classic car market outperforms other luxury assets in value

Global Business

Figuring out where to invest can be challenging – and there are many options.

In this edition of ‘Where’s the money’– we take a look at what is still a driving trend – cars.

The classic auto market grew nearly 18 percent last year – outperforming other luxury assets like art, wine, watches or jewelry.

CGTN’s Karina Huber reports.

Classic car market outperforms other luxury assets in value

Classic car market outperforms other luxury assets in value

Figuring out where to invest can be challenging – and there are many options. In this edition of ‘Where’s the money’– we take a look at what is still a driving trend – cars. The classic auto market grew nearly 18 percent last year – outperforming other luxury assets like art, wine, watches or jewelry. CGTN’s Karina Huber reports.
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Collectible car expert Joe DeMatio inspects the new Ford GT – one of the stars of the 2017 New York Auto Show. The $400,000 sports car is a redesigned version of a model sold in 2005 to celebrate the 100th anniversary of Ford.

DeMatio expects it to become an instant collectible, just like the ’05.

“It has held its value incredibly well and has even gone up in value. This is virtually unheard of for most modern exotics other than certain special edition Ferraris,” DeMatio said.

Another car being sold in limited edition that will likely gain in value is this muscle car – the Dodge Demon. DeMatio said exotics tend to hold or gain in value the most but sports cars have potential too.

There are more affordable cars that are seen as likely to hold their value over time like this Mazda Miata that goes for around $35,000. But you’re going to have to wait quite a while before it’s seen as a collectible.