Tag Archives: Love

Classic Car Enthusiast Loses Collection in Fire

Classic Car Enthusiast Loses Collection in Fire

'67 Ford MustangAs a classic car lover, your car, or your collection of multiple vehicles, is your pride and joy. Although these collectible cars make good investments, the real reason to have them is because you love them. Imagine your precious cars going up in smoke. That’s exactly what happened to Phil Russo or Montville, Connecticut. According to the Norwich Bulletin, Mr. Russo’s barn, along with his beloved classic car collection burned in a raging fire on November 21.

Classic Cars —For Love or Money?

Classic Cars —For Love or Money?

Ford MustangClassic cars are one niche area where people have seen they can make money. Of course, they have their enthusiasts, like us, but some people are seeing them as more of an investment rather than a hobby.

Rare classic cars will maintain their value, but taste in classic cars is changing and, likewise, their value. Except for the convertibles, the value of classic 1920s and 1930s sedans is falling. The people who are old enough to remember driving around in them are passing away, and the nostalgia for these models is dying with them.

One brand that is particularly in demand — and maybe always will be — is Ferrari. In New England, a 1965 Ferrari 275 GTB was sold for $1.25 million at a Bonhams auction this year. The sale set a record for being the most ever paid for a single car in an auction there.