Classic car values rose 3.19% in January 2012, according to the HAGI Top 50 Index, the Historic Auto Group's price index of leading classic cars.

The index also revealed that prices when Ferrari and Porsche sales were removed were up 6.21% when compared with December 2011.

"We've discovered that classic cars move independently to any other investment area. That's an attractive attribute for collectors and investors alike," commented Dietrich Hatlapa, the founder of the index.

The January figures build upon the index's strong showing in 2011.

Classic car prices rose 13.89% last year, while values when Ferrari and Porsche sales were removed were up 21.65%.