Ask the expert: exclusive guide to investing in classic cars from Jaguars to Ferraris

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Classic cars are becoming big business, with the average price of a classic at auction jumping from £38,984 in 2020 to £45,648 last year. And according to auction site Hagerty, 34.7 percent of classics sold went for more than their top estimate. While the likes of a 1937 Bugatti that sold for £4million last year might be out of reach, there are still some models to look out for if you know what you’re doing.

Stylish brands like Lamborghini and Ferrari have always proved popular with investors, but recently most Porsche models have climbed in value dramatically and some older Jaguars have followed suit.

Ahead of the Practical Classics Car and Restoration show at the NEC on March 18, Express.co.uk spoke exclusively to Gary Dunne, Sales Manager at Classic Car Auctions/ Silverstone

Auctions about what to watch out for.

Here’s what he had to say to anyone thinking of investing in a classic.

Investing in cars
The experts explained this is something anyone can do.
“Undoubtedly, many of our clients are now buying the cars they dreamed of years ago but maybe circumstances prevented them at the time.”

How has the market changed over the past few years?
“People are much more ready to ask probing questions, and the industry is willing to help, across the board,” the continued.
“The customer experience has become much more open, there is not the sense of them and us so, we are all in it together.
“The pandemic highlighted this even more so, our industry had to adapt, and by giving customers what they wanted we all gained.”

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Brands to watch
“I would always suggest that customers buy the cars they want first and foremost, whether that is a Porsche or Ferrari, or a Ford or a Jaguar.
“The type of car purchased depends entirely on budget. If it’s up to £15,000 then ‘80s Hot Hatches and ‘70s Triumphs are popular.
“If the budget is up to £100,000 then people often go for an E-Type Jaguar or Ferrari.
“Ultimately though, buy what you like and you won’t go far wrong.”

How much to invest
The experts commented on how much money drivers can look to invest.
“We have had customers buy their first classic cars for just a few thousand pounds, but typically I would suggest that from £10,000 and upwards for a good, usable Classic.”

What warning signs are there to look out for?
“Always, always, always inspect the car you are thinking of buying if you can, and talk to the auctioneers, read the history files and any available paperwork before taking the plunge.
“Many of us know a friendly expert who can help if we don’t get to go to the auction, so use that option too.”

What is a classic car?
They commented on what they would class as a ‘Classic’ car.
“There are lots of Classics, be they Pre-War, Post-War, Modern Classics, Supercars and so on. Classic is an all-encompassing name for the market.
“Popular classics are E-Type Jaguars, Ferrari Testarossas and Bugatti Veyrons.”

Rising value
Some models may be more likely to rise in value than others, the experts added.
“The market is buoyant right now, and many marques are seeing an upward curve value wise, but for me, like all investments, short-term isn’t the way to do it, buy the car you like, enjoy it and over time you may well see them rise in value.”

Will electric cars become classics?
“It’s hard to say, Classics are traditionally cars that we can all get involved with, tinkering here and there, but with electric cars that’s not an option.
“Having said that, who could say that the first Tesla, or Nissan Leaf wont one day be a sought-after piece of history, like a Sinclair C5, or a Commodore 64.”

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