HAGI classic car index up 9% in 2015

The HAGI classic car index is up 9% from the start of 2015, according to the firm's July figures.

Ferrari and Porsche achieved gains of 1.95% and 0.53%, respectively during the month.

Ferrari 250 SWB
This Ferrari 250 SWB will be sold at Artcurial in February 2016

While the pedestrian growth this year is in stark contrast to the runaway growth seen in 2014, it's likely that this is a market correction.

Buyers appear to be waiting for the market to develop before capitalising on their assets.

HAGI explained: "Traders indicated that classic car owners were comfortable with their holdings and less prepared to sell.

"Meanwhile some buyers were holding out showing resistance to price, particularly in GBP.

"Around half a billion USD worth of stock is being offered for sale in Monterey, California this week. It remains to be seen whether the market can absorb the supply."

There are a large number of other classic cars sales happening in the coming weeks and months, including RM Sotheby's London auction and Barrett-Jackson at Scottsdale.

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