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The Economics of Collecting Classic Cars

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Klutt says there's a number of reasons why people invest in collectible cars.

Unlike real estate, cars are portable and can be sold where they can fetch the most money, whether it's in the U.S. or abroad (a car 25 years or older can be shipped virtually anywhere with no impediments).

They're a hedge against currency fluctuations, explains Klutt, and will sell in countries whose currency is strong.

Collector cars are also a good hedge against inflation. Michaelis has carefully tracked the value of the 1967 Corvette convertible 427-435 (the last of the Sting Rays) in each of the last four decades.

Worth $8,500 in 1978, the model's value rose to $28,000 by 1988, then $75,000 in 1998 and a heart-stopping $200,000 in 2008 – just before the correction.

Michaelis says two '67 ragtops sold in January this year – in unpopular yellow and maroon – for $190,000 each, demonstrating values have endured of the recession.

Read More: http://www.wheels.ca/reviews/article/785145


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