‘Passion investing’ in classic cars gains speed – CNBC
“In my decades of doing this, I’ve never seen collector cars recognized so universally as alternate assets and works of art,” Linden said, explaining why the time is right for this type of investment vehicle. “We are seeing record prices set at major auctions and a record-setting run-up in values, with cars going to every imaginable point across the globe.”
In the last three to five years, the volume of global purchases and shipments has exploded, he said, driven by new investors, as opposed to casual collectors.
“I’m getting a lot of inquiries from investors, and I saw a need to offer and develop a diversified portfolio product,” Linden added. “I often tell people, ‘If you think you can invest in one car, that’s gambling. It’s like buying just one stock.'”
— By Deborah Nason, special to CNBC.com