The case for investing in fine wine and classic cars
By International Adviser, 27 Oct 16
With investors facing increasingly poor returns from traditional investments, the case for putting your money in alternative investments such as wine, classic cars, stamps and whisky is getting stronger, says Adam Benskin, executive director at international IFA firm Strabens Hall.
Classic cars are a popular alternative investment and there has been a recent surge in values across all types of cars from modest mass-produced classics right through to the high-end sports cars like rare Ferraris.
The blue chip index of classic cars compiled by Hagerty indicates that prices of the 25 most sought-after post-war cars have at least doubled since the beginning of 2010.
If you are motivated by the potential profit to be made, you will want to store your acquisition away in a secure environment with appropriate insurance and wait for it to rise in value over a period of time.
But if you want to keep the car on the road you need to factor in running costs, which can be significant, into your budget.
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Tags: Strabens Hall
