Investment or Collection- What’s the difference?
Steve Linden wrote a great piece in Newsday about the difference between collecting and investing in classics. Is it driving out some car lovers who just want to own one of these beauties? I think it may just be. I bought my first car, a 1970 Barracuda 318 for $3300 in New Hope, PA. I had to junk it when I pierced the gas tank during a repair. Back then (in 1995) there was little to no interest in these cars. Of course I kick myself daily for this but if I still had the car it would probably be worth $15-20k. It was impeccable. No pedestrian car enthusiast with a family and responsibilities has that amount to drop on a weekend car. So what happens when the ordinary cars start to enter the stratosphere when investors show up? Hopefully they’ll just stick to their Ferraris and Mercedes SL300s.