Has anyone made money investing in classic cars?

Discussion in 'Investing and Retirement Saving' started by Sadia, Nov 23, 2015.

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  1. Sadia

    Sadia Administrator

    I was reading an inspirational post on the internet on how an investor made high profits by investing in classic cars. I am expected to realize some money from an investment and was seriously considering having a go at classic car buying and selling. I have a portfolio of stocks and mutual funds and thought this might be a healthy addition to the portfolio. Just wanted to know if anyone had any experience or insights into buying and selling old cars.
    Miles likes this.
  2. Miles

    Miles Newbie

    Knowing how to invest in classic cars could make you very rich, as long as you know what you are doing. The demand for cars that have become iconic are really high and the supply is low so if you can find these cars and then restore them you can make an amazing amount of money. Car dealers or classic car dealers have become wealthy in a short period of time by finding cars that are being scrapped yet there is high demand for them. If you are able to locate these cars and pay for them with the intention of restoring them then you can make a lot of money.

    The first thing that you have to do is make a list of all the classics that are being demanded at the moment. These classics may be the Jaguar E-Type or the VW Beatle. Once you have made the list you need to find out how much you can expect to buy them for and how much they can expect to fetch in an auction and how much on average is required to restore them. You need to do some serious research here and it may be months before you even buy the car, start your research now by checking some of the links on these pages.

    You have to build up a wealth of knowledge before you can start buying these classic cars and taking them to reputable mechanics to restore them. If you don’t want to take them to a mechanic then you can learn how to restore yourself and save even more money. If you have a passion for these vintage cars then you will be doing something that you enjoy and make a profit at the same time. Restoration project take a long time however if you can restore up to 3 Jaguar E-Types a year you can expect to make about £100,000 on average.

    If you can work together with a dealer and a mechanic and get favorable rates then you can expect to make even more money. Many people get into this line of business and fail because they do not do the required research, you cannot know how to invest in classic cars and make a profit overnight. Your research is an investment and make sure you are thorough as this will prevent you from making expensive mistakes and drive you out of the business.

    The demand for restored classics is high, some people want the cars to be restored to their original being while others prefer to have them specified. If you are able to cater for each customer specifications then this is where you are likely to make the most money. I have heard of a wealthy individual who bought a Jaguar E-Type with all its original features and engines but updated with Bose sound system, DVD player, SAT NAV and much more and paid over £100,000 for it. If you are able to meet the demands of the customer then you can expect to make great profits. If you are able to find 10 customers similar to this and restore the all the cars within a year you could become a millionaire.
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