My Car Quest

May 26, 2019

Classic Car Values

by Mike –

What causes the value of a particular classic car model and a specific car to increase or decrease? Is it simple economics? The desirability (demand) of that model or specific car, combined with the number of cars left in existence and offered for sale at any given time (supply), will determine the value?

Aston Martin DB4 GT Zagato

Aston Martin DB4 GT Zagato

The desirability of a car has been shown to be driven by various factors: the history of the marque, its racing heritage, styling, technology, performance, the people involved in creating it, and the specific car’s ownership history and condition. Which of these characteristics are the most important?

McLaren F1

McLaren F1

Perhaps value is also driven by something that cannot be explained. Otherwise, how does one explain why a Ferrari 250 GTO sold for $35 million?

Classic Ferrari models have led the classic car value world for some time, and today more than ever.

Porsche 959

Porsche 959

In August 2011 in Monterey, California, a Ferrari set the world record for a car sold at public auction — $16.3 million for a Testa Rossa. A Ferrari 250 GTO that was built for Sir Stirling Moss sold in 2012 for $35 million. This may be the highest known price paid for a car.

Shelby GT350

Shelby GT350

Ferraris may lead the way, but other classic cars are important too. After all, we can’t all own a classic Ferrari — there are not enough to go around, and few of us can afford a car priced in the millions.

Iso Grifo Targa

Iso Grifo Targa

Does the world record prices of these Ferraris have a drag along effect for lower priced classics?

The My Car Quest Classic Car Value Survey will be the subject here tomorrow. Look for it and let us know your opinion.

Your comments on this subject are welcome in the comments section below.

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Comments

  1. I wonder why one brand of leather handbag for my wife, costs more than the new custom coloured hide and the craftman’s work to rebuild two front seats. Of course, he doesn’t wear a skirt or have a flash store, and i didn’t get a coin pocket put in the seat, so maybe its not just a fashion thing. ;-))

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