Classic car values up 7.82% since start of year
2012 is continuing the upward trend of the classic car market, according to new figures from HAGI
Paul Fraser Collectibles, Tuesday 15 May 2012
The value of the world's leading classic cars rose by 1.09% in April compared with the previous month, according to new figures.
The HAGI Top 50 Index, the Historic Auto Group's price index of leading classic cars, also revealed that values are up 7.82% for the year, a compelling argument for advocates of classic cars as alternative investments.
The April gains follow a particularly strong March for the index, which saw values rise by 4.23%.
When Ferrari and Porsche sales were removed from the equation there was even better news, with the relevant index up 1.98% in April and up 9.10% for the year.
In contrast, the S&P Global 1200 Index, which provides a global-view of the stock market, fell by 1.37% during April.
Classic car values increased by 13.89% during 2011, the index states, while values when Ferrari and Porsche sales were removed were up 21.65%.
The figures are backed by the Hagerty Blue Chip classic car index, which follows 25 of the most sought-after collectible post-war cars.
It has seen prices grow by 33% since 2009.
"We are on an absolute boom right now," Dave Kinney from Hagerty told the Los Angeles Times newspaper.
Car enthusiasts should also be sure to peruse PFC Auctions' online sale, which features this superb pair of racing gloves, worn by legendary driver Jim Clark during practice for his last F1 grand prix.
Paul Fraser Collectibles will continue to bring you all the latest on this most exciting of collectible markets throughout the course of the year.
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