Collector Cars – Sound Investment, Or Economic Bubble?

A very interesting thing happened in Monaco over the weekend. RM Sotheby’s held its biennial collector car auction in Monte Carlo, rolling out a staggering lineup of top-shelf automobiles primed and ready for new ownership. Heading the list of sales was a bodied by Touring, going for a very healthy $8.2 million. The event also saw two new world records, including the sale of a for $760,748 and a for $380,192.

But it was the cars that didn’t sell that grabbed my attention. Headlining the event was Lot #254 – a Estimated value – between $21 and $26 million.

Unfortunately, Lot #254 failed to meet its reserve when bidding stalled at $19.2 million. By the end of the event, total sales came to roughly $31 million – far below the $46 million realized in 2014.

This isn’t the first time we’ve seen the collector car market stumble in the last year. Sales were down at the latest round of auctions in Scottsdale and Pebble Beach, both considered vital indicators of overall market health.

The fall-off arrives on the heels of years of massive growth. According to the Historic Automobile Group International (HAGI), an independent investment research company, the rare collectible automotive market grew by almost 500 percent between 2005 and 2015 far surpassing the growth of more traditional investment sectors during the same time period.

So what exactly is going on? How did we get here, and more importantly, where are we going next?

Continue reading to learn more about the collector car market.

Collector Cars – Sound Investment, Or Economic Bubble?

A very interesting thing happened in Monaco over the weekend. RM Sotheby’s held its biennial collector car auction in Monte Carlo, rolling out a staggering lineup of top-shelf automobiles primed and ready for new ownership. Heading the list of sales was a bodied by Touring, going for a very healthy $8.2 million. The event also saw two new world records, including the sale of a for $760,748 and a for $380,192.

But it was the cars that didn’t sell that grabbed my attention. Headlining the event was Lot #254 – a Estimated value – between $21 and $26 million.

Unfortunately, Lot #254 failed to meet its reserve when bidding stalled at $19.2 million. By the end of the event, total sales came to roughly $31 million – far below the $46 million realized in 2014.

This isn’t the first time we’ve seen the collector car market stumble in the last year. Sales were down at the latest round of auctions in Scottsdale and Pebble Beach, both considered vital indicators of overall market health.

The fall-off arrives on the heels of years of massive growth. According to the Historic Automobile Group International (HAGI), an independent investment research company, the rare collectible automotive market grew by almost 500 percent between 2005 and 2015 far surpassing the growth of more traditional investment sectors during the same time period.

So what exactly is going on? How did we get here, and more importantly, where are we going next?

Continue reading to learn more about the collector car market.

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