Rare Chrysler Convertible Sedan, 'best on the market', is estimated at $60,000

There are only eight of these Chrysler Convertible Sedans - another is in the Walter Chrysler Museum

According to recent figures from HAGI, its Classic Car index rose by 4.41 points or 3.19% to a new high of 142.40 in January 2012.

This compares to a 5.07% rise in the S&P Global 1200 Index during the same period. With one major difference: unlike the ups and downs of the stock markets, the HAGI Top Index has continued on a generally healthy upwards trend since autumn 2010.

And, as long as devoted collectors continue to choose high quality cars as assets, these trends should set to continue. By high quality, we mean classic cars like this 1929 Chrysler Convertible Sedan Series 75 which is auctioning in Sunrise, Florida, on February 20.

The car is estimated at $40,000-60,000, which is surprisingly low given its rarity. Just eight of these Chrysler 1929 Series 75 four-door sedans were made to-order in 1929.

The rare 1929 Chrysler Convertible Sedan Series 75

The cars were sent to the Locke Co, and modified into convertibles in accordance with Chrysler's design. A Locke tag is on the cowl of the passenger side. Its other period feature include wood spoked wheels with 18" tires. Overall, the car weighs 3,600 pounds.

Even back in 1929, the Chrysler Series 75 four-door sedans were priced at ten-times the value of a typical Chrysler. Other Chryslers were usually priced at $300. Walter Chrysler wanted this car to be the best on the market, although the company lost money on each one built.

But collectors love history's great risks - and even failures. Especially when they're as rare as this 1929 Chrysler. Another example of this car can be found in the Walter Chrysler Museum collection. Will it sell for more than $60,000? We think that it's very likely.

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Images: Louis J. Dianni, Llc Auctions