People buy classic cars for one or more of a number of reasons. Some will buy such a vehicle to restore it. Others will buy one that is in excellent condition to take it out for a run on a lovely Sunday afternoon. A number of other classic car enthusiasts will buy it as an investment often keeping it in a garage out of sight of other people hoping that it will rise significantly in value so that they can sell it for considerably more than they paid for it in a few years time.
Those people buying a classic car as an investment are obviously taking a risk as there is absolutely no guarantee that the value of their new purchase will rise in value. In fact, it could possibly fall in value.
If we knew what was going to happen to the price of a classic car we could take appropriate action. For instance, if we knew that a particular car was going to say double in value over a 5-year period then we would be sorely tempted to buy it. If we knew that the price of another classic car was going to fall in value then we would no doubt decide not to buy it at the moment but possibly consider buying it at a future date when the price is lower. In this respect, the trick would be to purchase it when its price was at its lowest but unfortunately nobody knows with any certainty when that date will be.
In some respects, it would be better if we bought a classic car for non-financial reasons such as purely for the pleasure of driving such a vehicle around or taking it to shows to be admired by other classic car enthusiasts. If it went up in value then that would be of only secondary importance.
If you searched on the Internet for “what will happen to classic car prices” you will no doubt come across a number of websites that make comments about this. It is quite possible that you may get a mix of opinions.
