Valuable Classic Cars

Four of the five most expensive cars ever sold are Ferraris. No, we are not talking about retail prices. We are talking about vintage car auctions, where the world record for the most expensive car has been shattered five times in the last eight years. The passion investment market for these engined marvels and cool collectibles has soared in the last decade, quintupling returns. Over 5,000 classic cars worth US$1.2 billion (RM5 billion) exchanged hands in the last 12 months. Part of this is nostalgia, part of it is the luxury they represent and part of it is mercenary – in most countries, classic cars are exempt from capital gains tax. So whether you’re looking for a grand drive, or a good investment, you may want to consider this. Particularly if it’s a Ferrari.