If you’re interested in classic cars in anyway and keep up-to-date with the goings-on in the industry, chances are you’ll have read a lot of news articles recently about how certain classic cars have sold for considerable sums of money.
Take the Ferrari 275 GTB/4*S NART Spyder that sold at auction recently – it was bought for £5,000 45 years ago, but sold for £18 million when it went under the hammer this month.
In many ways, the price is somewhat justified. It’s a beautiful vehicle, rare and particularly sought after and the £18 million price tag, although high, would no doubt have been surpassed if more individuals were involved.
But although it might be justified, there’s little doubt £18 million is a huge amount of money – a life-changing sum for most – and as a result, there are sometimes comments made around the fact it’s too much money to spend on a vehicle.
Something that raises a number of questions, the one we want to pose today is ‘how much money would you actually spend on a classic car?’.
Now ‘expensive’ is obviously a relative term and we’re certain £5,000 to some will be an amount of money they could do with spending on something else other than a car, but we’re interested to know whether the answer to this question varies depending on the individual classic car collector.
For example, if you’re used to spending no more than £10,000 on classic cars, if you had the money available, would you spend millions or would your mentality essentially prevent you from doing so?
We know it’s a difficult question to answer and that you’re unlikely to be able to give a completely honest answer until you’re in that position, but we’d be interested to know your thoughts as we believe given the opportunity, many classic car enthusiasts would spend an almost infinite sum of money on vehicles.
The reason we feel this way is through our years involved in the industry, we’ve come to realise collecting classic cars is very much like an addiction – and as with any addiction, you’ll generally do as much as you can to feed it.
Therefore, if you were given a pot of money and told to spend it on whatever pleases you, we believe most classic car collectors would head out and purchase the vehicle they’ve been longing after for years.
But more than happy to be proved wrong, please do let us know your thoughts and tell us just how much you would realistically spend on a classic car of your choice.