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Here’s Why Classic Car Values Are Dropping

About a decade ago,scooping up classic cars was becoming increasingly more popular. But buying classic cars wasn’t just a hobby. It was an investment. And a relatively safe one, at that. Let’s not forget that this was around the time when the real estate market crashed, and people were searching for non-stock market investments. And those people benefitted from those classic car investments for about 10 years. Until now. The Guardian pointed out in a new report that this trend could be coming to an end.

In last year alone, the value of classic cars dropped by 10.4 percent. Now that may not seem like a lot, but to investors, it definitely is. Sure, we’re still seeing super rare wheels go for big bucks at auctions, but the overall market trend is singing a different tune. So, if people aren’t investing in classic cars, where is that money going? Photography. Yep, people are spending huge amounts of cash at art auctions. For example, a photograph taken by German photographer Thomas Struth sold for $777,080. Yes, we’re serious. Check out The Guardians full report for more of the deets.

Source: CarBuzz, The Guardian

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  1. Anonymous

    This is great news! I can take a photograph of my classic car, sell it for big bucks and continue to happily drive down the road in vintage style… and they said you could not have your cake and eat it too!


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