Here we go again: classic car investment portfolio
Discussion
Haven’t people lost their shirts buying into these schemes before? They also have the potential to remove important cars from circulation. This one is being promoted by Hakkinen, Coulthard and McNish of all people. Yuk.
https://tertrerougeassets.com/
https://www.express.co.uk/life-style/cars/1709715/...
https://tertrerougeassets.com/
https://www.express.co.uk/life-style/cars/1709715/...
Reading the website was interesting.
The directors are all experts in their field. The two principal shareholders are an expert in 'start ups' (fair enough) and celebrity security (but he has amassed an eye watering collection of classic cars and bikes). The other three are racing drivers. All experts maybe, but not in the buying and selling of classic cars for profit.
I don't think I'll be investing...oh and the shares were temporarily suspended on 3rd January.
The directors are all experts in their field. The two principal shareholders are an expert in 'start ups' (fair enough) and celebrity security (but he has amassed an eye watering collection of classic cars and bikes). The other three are racing drivers. All experts maybe, but not in the buying and selling of classic cars for profit.
I don't think I'll be investing...oh and the shares were temporarily suspended on 3rd January.
I would suggest that they have a look at the Hagerty valuations index. My two cars have dropped £200,000 in the last five years. and I do not see them ever recovering - ever. Perhaps cars from 1980 onwards but then one day the same will happen to them. They will only be attractive to by then old people who remembered them from their youth, as I do my E-type. And after 2030 what will they then be considering? Which electric car will be an "investment"? I think our money is better under the mattress.
I remember reading of Japanese investment banks buying Ferraris et al in the late 80s and hiding them away.
With inflation taken into account, which I presume is part of the point, they still wouldn't fetch what they did back then. And then there's 25-35 years of oblivion in between.
If they're exclusively buying things like Stirling Moss's 300 SLR then they might still be on to something in the long term. Last time I checked there aren't too many of those.
With inflation taken into account, which I presume is part of the point, they still wouldn't fetch what they did back then. And then there's 25-35 years of oblivion in between.
If they're exclusively buying things like Stirling Moss's 300 SLR then they might still be on to something in the long term. Last time I checked there aren't too many of those.
bloomen said:
I remember reading of Japanese investment banks buying Ferraris et al in the late 80s and hiding them away.
With inflation taken into account, which I presume is part of the point, they still wouldn't fetch what they did back then. And then there's 25-35 years of oblivion in between.
If they're exclusively buying things like Stirling Moss's 300 SLR then they might still be on to something in the long term. Last time I checked there aren't too many of those.
Agreed, although I think values of ex-Stirling Moss SLRs have probably peaked. Whoever bought that, I suspect their phone is not ringing off the hook with offers.With inflation taken into account, which I presume is part of the point, they still wouldn't fetch what they did back then. And then there's 25-35 years of oblivion in between.
If they're exclusively buying things like Stirling Moss's 300 SLR then they might still be on to something in the long term. Last time I checked there aren't too many of those.
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