Quote:
Originally Posted by sugarwood
You clearly lack the most basic understanding of what drives collectible investing.
It has nothing to do with tangible features, benefits, or utility.
Want a fast car? Get a Camaro.
Do you understand why people pay $80,000,000 for a painting?
It's not because of the $5 worth of paint.
Anyone paying $200k for a car will not be driving it. Ever.
It will be trailed into a storage facility and then trailered to the next auction 5 years from now to be sold.
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Wrong on all counts.
Car collectors generally put tangible things ahead of investment potential. "Fast" is one attribute, but that's not a consideration for a sizable chunk of the car collecting hobby. There are many other factors that define the driving experience. Don't get me wrong, people with wealth that have gotten into the car collecting hobby do appreciate the investment potential but anyone getting in today going to be disappointed. Largely, that ship has sailed.
The upper end of the fine art collecting hobby has a track record for far longer than cars and a much more solid base. Investing in fine art is like investing in high end real estate. There will always be an art market and it's always going to be headed in one direction. Collectible cars have had their ups and downs and will continue to do so.
I know a number of car collectors and every last one of them drives their cars. It makes no difference how rare, or how expensive, but the vast majority of the people in the hobby do use them to some extent. There are exceptions to any rule but I think you would be surprised. The ones that are grounded drive the cars they like the best, the most, and they couldn't give two ****s about the value. That's what insurance is for...