It’s very rare that we buy into these cars as investments, we buy what we buy because we like them, or they trigger a memory for us from the past. Well that’s certainly true in my case. Predicting what cars will rise in value is like picking the right horse in the grand national – it’s doable but it’s not an exact science.
Well the coronavirus pandemic (sorry I try not to bring it up unless absolutely essential) seems to have been a blessing to the classic car market. Hexagon classics are reporting an “unprecedent demand for good quality classic cars” over the past 12 months, and prices at the recent Silverstone Auctions sale at Stoneleigh Park would simply echo that.
As I said at the beginning; not many of us simply buy a car to make money on. We like to know our money is in a sensible place and if it goes up, then so be it. But from the insurance side of things, if you do have an agreed value on your car, it might well be in your interest to take another look at it, and make sure it is a fair reflection of current market values.