Classic car investors reap rewards of 7.67% annual returns
Ferrari owners are among those classic car owners celebrating after a strong year
Investors in classic cars will be buoyed by fresh numbers released by the HAGI Index.
April figures from Historic Automobile Group International's respected index indicate that the average price for classic vehicles increased by 7.67% during the previous 12 months and 1.1% since the start of the year.
Classic Ferraris were among the best performing vehicles, up 4.19% since April 2010 and 5.88% from January.
HAGI notes that it saw "investment style buyers increasingly active in the market", a clear indication that high worth individuals are viewing heritage automobiles as sound alternative investments.
And it's easy to see why.
Compared with the S&P 500 index's 2.85% growth for the past 12 months, classic car investors are streets ahead.
The S&P 500 index tracks 500 leading stocks traded in the US.
The old adage is to pay as much as you can afford when purchasing a collectible, as the top items appreciate the most quickly in price. So when it comes to your next classic vehicle, perhaps some of these beauties will suit…
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