In these uncertain economic times it’s difficult to know where to stick your money to keep it safe. Despite inevitable short term dips, property will always be one way to protect your investment long-term, but another is Classic Cars. Yes, we had a big crash in Classic Car prices in the nineties, but over the long term they are a sound investment.
Not only are Classic Cars a decent long-term investment they do also offer the pleasure of playing with them – something no other work of art can manage. And with the rising wealth in emerging economies, something with as finite a supply as Classic Cars can hardly fail to appreciate in the long term.
Which explains why real classics are still fetching record prices. The Ferrari 250 TR (Testa Rossa) sold recently by RM Auctions is a good example, and it looks like a car to be auctioned by Gooding and Company at Pebble Beach in August will be another.
The car in question is Ettore Bugatti’s own Bugatti Type 57 C Coupe from 1936. Built as a birthday present for Ettore by the factory, it has had just a few owners since the factory sold it in the 1950s and, despite some upgrades by the factory during their ownership, it remains in original, unrestored condition.
Be interesting to see what it fetches. I guess Gooding & Co expect it to be significant as there is no reserve. We’ll bid a tenner. You never know, there may be no other bids!