Collector Cars -- Do you have $4 million to Invest?
Well one thing I know for sure that I would not invest in is 1 of 12 General Motors Futureliners ever made. I'm not sure, but I really hope a museum invested in this monstrosity. This custom made bus from the early 1950s, was up at this year's Barrett Jackson auction. Last year at this auction they had a concept car from the mid-1950s cross the block at $3 million. There are many better things I could think to do with this amount of money than spending it on some one-off vehicle that you can't really drive.
The craze of investing in collector cars has become more mainstream in the past few years. BusinessWeek has a section with articles on Collecting Cars. Speed Channel devoted 30+ live hours to this years Barrett Jackson Arizona auction (I watched about two hours of it!).
From what I've read and heard, muscle car collecting is all the rage now. Most of the cars I saw cross the auction block were 60's muscle cars: Corvettes, Camaros, Mustangs, Road Runners, etc. This, reportedly, stems from the baby boomer generation, who grew up wanting these cars around the age they were legal to drive. What was then a dream, can now become reality as they have amassed their savings and want to spend it on accumulating one, or a few, of these cars they idolized.
What do you think? Is it crazy to spend $50,000-$100,000 on you dream collector car?
posted by Financial Fruition @ 10:02:00 PM
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