Classic cars: much more than an expensive hobby, their value is constantly growing

Read time: 3 min
Pubblicato il: 31 May 2022

Can a classic car really become a work of art and grow in value?

Let us find out everything there is to know about these timeless historic cars.

what do we mean by classic cars?

The expression ‘classic cars’ is commonly used to describe vehicles that are over 30 years old. Classic cars are therefore not only well-kept collector items, but also vehicles whose appearance reflects their age. Owning one is a source of pride because you are aware of having a piece of history in your hands.

Classic cars are a true store of value. Those who can afford them satisfy their passion and at the same time realize an economic capital gain; they are indeed in the absolute first place as regards objects with the highest yield performance from 2005 to today.

Despite a slight slowdown in the market in recent times, classic cars are still sold today in international auctions for millions of euros. These are therefore objects that do not know what depreciation is. Over time their value increases, also thanks to participation in events such as the Mille Miglia, la Targa Florio or Concorsi d’Eleganza.

What are specifically the most prestigious makes to focus on?

Ferrari, Maserati, Alfa Romeo, Lancia for Italy; Mercedes-Benz, Porsche, BMW, and Volkswagen for Germany; Aston Martin, Jaguar, Austin-Healey, Caterham, and Morgan for the UK; in the US we find the legendary muscle cars, designed and made with a very specific goal: beat the Ferraris. This ‘battle’ begins in 1962 with the Shelby Cobra. For us Europeans, the quintessential muscle cars are: the Chevrolet Camaro, the Pontiac GTO, and the Ford Mustang.

All models that can reach mind-boggling figures! Among them, the most emblematic and iconic are: the legendary roadster Ferrari 250 GT California (current value over 10 million), the Porsche 356 Speedster, and the 8-million-euro gullwinged Mercedes-Benz 300 SL. Great investments that over time have needed certified bodies that went to great lengths to protect and safeguard historic motoring. The most important one, also for insurance purposes, was born in 1966 in Bardolino: Automotoclub Storico Italiano, ASI a body that protects and supports the interests of any motor vehicle that is at least twenty years old. Registration is not required, but by joining ASI you can enjoy advantages regarding both car tax and insurance.

At a regional level, the Circolo Veneto Auto Moto d’Epoca, CVAE, with which Pakelo collaborates for some events, is the third historic car club in Italy. Led by president Stefano Chiminelli, the club has always united enthusiasts from all over the world, reaching international recognition with the historic "La Leggenda di Bassano" (The Legend of Bassano), a 3-day trophy through the wonderful Dolomites with prestigious historic cars.

So, do classic cars have a constantly growing value worthy of investment?

Yes, a recent study shows that historic and collector cars mark the highest increases in all investments: +91% at the 5-year milestone and +288% after 10 years; in comparison, jewellery grows respectively by 41% and 138%. (Source: Hetica Capital, advisory fund)

In Italy, the turnover related to historic cars is valued at around 2.2 billion euros, including purchases and sales, maintenance, and restoration.

Let us not forget that the more prestigious the classic car is, the more it needs careful and accurate maintenance, so it is essential to rely on experts who provide comprehensive advice to collectors.
For example, what is the right oil?

Pakelo recommends the Classic line dedicated to older generation cars.
Divided by decade, they have been designed to meet all the needs of cars that need to be preserved, collected, but above all relived!

Recommended oil for classic cars


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