My Car Quest

August 1, 2014

Classic Car Prices, Market Trends And Events – Part 4

by Mike –

Recently I wrote about the upward trend in classic cars prices and the impact that high powered auctions and car TV shows have on those prices.

It has occurred to me that there are other events in addition to classic car auctions and classic car TV shows that have the ability to drive up the prices of certain classic cars.

Shelby Cobra 289

Shelby Cobra 289

Driving Events

If you want to drive in the Mille Miglia then you must have a car that would have been eligible for that race – the car must have been built prior to January 1958. The same is true of the California Mille.

Arnolt Bristol

Arnolt Bristol – Mille Miglia Eligable

The Colorado Grand is an annual charity tour for 1960 and earlier sports and race cars of distinction. This means this class of cars are more in demand because of this event.

1949 Ferrari 166MM

1949 Ferrari 166MM – Eligible For Everything

Some collectors buy cars just for the purpose of participating in these events. This increases the demand for these cars and thus drive up the prices.

I know a collector who bought a special, and expensive, Iso Grifo just to drive in the Copper State 1000. After the event he then sold the Grifo.

Concours d’Elegance

Special car shows like the Pebble Beach Concours d’Elegance, The Quail, A Motor Sport Gathering, Villa d’Este and the Amelia Island Concours d’Elegance also create demand for certain cars.

The astute collector knows the featured marques coming up at these events and may try to secure a class winner for one of these special shows.

Bugatti

Bugatti – Good For Winning Best In Show At A Concours d’Elegance

The now popular preservation class has created a demand for cars that have not been restored but were treated well by their past caretakers. These cars are becoming more rare as times goes by because they must be original, or close to original.

That originality is deteriorating with time, however.

Ferrari 275 GTB/4

This Ferrari 275 GTB/4 Was In The Preservation Class At Pebble Beach This Year

Historic Races

Historic races can also drive up prices of special race cars especially the ones that raced in the day and have a race history of distinction. Of course, if a famous race car driver drove the car then that adds to the value.

Scarab Mk I

The Scarab Mk I Will Be Accepted At Any Historic Race

But it also means the owner can enter any historic race event he desires and the car is worth more than the same car that is not eligible or does not have a distinguished race history.

There are more of these events now than ever before both in Europe and the US just as there are more high powered classic car auctions than ever before.

Iso Grifo A3/C

An Iso Grifo A3/C Is Also A Good Ticket To Historic Racing

This trend should continue for sometime because there are so many people interested in the classic car life style that includes the fancy events, parties and meeting other people who also love classic rolling art – and the driving and racing too.

These classic car owners are having fun while owning a special car that may appreciate in value.

This is a good thing, at least for now.


Subscribe to My Car Quest

Enter your email address:


Speak Your Mind

*

+Michael Gulett Find us on Google+