[YesAuto Wonderful Car Life] Everyone knows that the depreciation speed of second-hand or old cars is quite fast. When it comes to financial products, the three letters EVO may quickly come to mind. Taking a long-term perspective, there are still many wealth management products waiting for us to explore.
In recent years, overseas investors have greatly increased their investment interest in classic old cars, and the auction prices of many super sports cars or antique cars with very low output have continued to rise. Just in early October, at an auction held in Switzerland, 25 supercars and luxury cars purchased by Vice President Obiang of Equatorial Guinea were finally sold for US$27 million (approximately 193 million yuan), of which 9 are limited globally. The Lamborghini Veneno Roadster sold for $8.4 million (approximately 60.04 million yuan), setting a record for the auction price of a Lamborghini model (click here for the full content).
Recently, many private and special auctions have been held overseas, and the Barrett-Jackson auctions have all set some amazing turnover. Many bidders said that they are optimistic about the appreciation potential of classic cars. Investing in cars with a long history is considered by some to be a way of making money without losing money.
In the past ten years, according to the luxury investment index published by Knight Frank, it is not difficult to see that antique cars have easily surpassed the return on investment of investment categories such as art, wine and watches. In 2017, antique cars or collectible cars accounted for 28% of global luxury goods transactions. Facts have proved that antique cars and collectible cars are a form of investment that is underestimated by experts, and many powerful investors are still taking care of those traditional luxury investments.
However, unlike other asset investments, investing in classic cars will incur additional costs. If you are buying an old car in its original condition, you may first have to spend tens of thousands of dollars to repair it and turn it from a broken piece into a collectible financial product, but this process may take a year or two. time. For those buying old cars that have been repaired, routine maintenance is also an arduous task.
Many investors don't know much about cars. They only buy these classic cars because of the high return on investment. So how to support them is a challenge for these people. From January 11 to 19, 2020, at the 49th Barrett-Jackson auction held in Scottsdale, Arizona, USA, a large number of classic cars will be auctioned, including Paul · 21 cars from Walker's private collection (click here for details). Looking at the sales prices of those classic cars in 2019, I just want to say that it's great to have money! (The picture comes from Li Haopeng, the home of the network car