The Best Luxury Investment
Jewels, diamonds, art, furniture—all amazing investment collections to own. But what has been the best performing luxury investment over the past decade? Cars! Classic cars to be exact.
Go For The Autos
According to recently published Knight Frank’s 2014 Wealth Report, their Luxury Investment Index for classic cars rose 28% in the last 12 months. In the past 5 years, the index has grown 121% and a staggering 456% over the past 10 years. Unfortunately, the same cannot be said for furniture, which has fallen 19% over the same time frame. In fact, art, classic cars, watches and stamps have all seen increases over the past decade with furniture bringing up the rear.
The Best Cars To Collect
So which are the best cars to collect? Many say it’s a personal choice and it all depends on what lights you on fire. But according to TheRichest.com and it’s 2013 article “The 10 Biggest Car Collectors In The World,” Ferrari’s, Porsche’s and Mercedes play big roles in the great collections. Bugatti’s and Jaguar’s are big players as well.
But what about modern cars? As good an investment as the classics? Only time will tell. But some of the best modern cars to collect, according to Popular Mechanics, some of the cars built in the last 25 years show promise. A Buick, Ford, Porsche, Jeep and Volkswagen all made the top 10…and so did a Ferrari.
With the percentage of luxury investment purchases due to rise in 2014, it’s interesting to see that the top investment of passion remains to be art. And there are quite a few who would agree that classic cars are works of art, especially the classic antique cars or the odd-ball cars. Just ask comedian Jay Leno who is infamous for owning more than 200 cars which include a 1909 Baker Electric, a 1931 8-liter Bentley, a 1909 Stanley Steamer, a 1934 Phantom II from Rolls Royce, a 1927 Duesenberg Model X and a 1925 Hispano-Suiza in addition to 22 steam-powered vehicles and 25 classic cars. Beauty AND art are obviously in the eye of the beholder!