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Classic Car Investing
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In uncertain times, why not put your money into something you can have some fun
with? Consider investing in a classic car.
B-J Mini-Index Shows High Return for Collector Cars
 Scottsdale, AZ, October 13, 2008 — Turns out the guy driving that 1967 Shelby
GT500 as an enthusiast has the side benefit of being a smart investor. Leading
into the Barrett-Jackson Auction Company's inaugural event in Las Vegas, the
world's leading collector car auction house reported that many of the top cars
sold have performed better in value than the stock market and gold over the
last 10 years.
"Though most people buy a collector car to enjoy, they have also proven to be one of the soundest investment vehicles in the global marketplace over the past 10 years," said Craig Jackson, Chairman and CEO of Barrett-Jackson. "It's rare that a hobby and someone's passion has the potential of being a great investment."
The Barrett-Jackson mini-index* was created in 2003 and consists of representative
cars that reflect the diversity seen in the collector car market. These cars
span from 1957 to 1970 and are primarily European and American sports cars and
U.S. muscle cars. The cars used in the index are the 1957 Thunderbird, 1967 Jaguar
XKE, 1967 Shelby GT500, 1970 Camaro Z/28, 1970 AAR 'Cuda, 1965 Austin Healy MK
III and a 1967 Corvette 427/435.
According to the data released today, the value of the cars in the Barrett-Jackson mini-index grew by a compounded annual growth rate of 16 percent from Q1 1998 to Q1 2008, which included economic and political upheaval stemming from major events ranging from the Invasion of Iraq, the Dot Com bubble crash, and 9/11. During that same period, the Dow Jones Industrial Average (DJIA) grew a compounded 5 percent annually while the S&P 500 Index grew 4 percent. The price of gold grew a compounded 11 percent in the same period.
"These numbers paint a vivid picture of the intrinsic value and growth of the collector car market," said Steve Davis, President of Barrett-Jackson. "A financial analyst will tell you that every market has year-to-year fluctuations, but that the true measure is performance over time. We're proud to be part of that great performance of the collector car market and we believe our expansion this week into Las Vegas will reinforce the view that collector cars are not only our consumers' passion but offer the potential of providing long-term value. Most enthusiasts like me take great solace that as a car collector, we own tangible assets that have not only stood up to the test of time in value, but can also be driven and enjoyed."
See Barrett-Jackson.
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