CLAS­SIC CARS

The Peak (Malaysia) - - Art Attack -

While the ex­act clas­si­fi­ca­tion of clas­sic cars varies from coun­try to coun­try, the term is broadly used to re­fer to ve­hi­cles built be­fore 1 Jan­uary 1977. Ac­cord­ing to the KFLII, this as­set class, with Porsche and Fer­rari lead­ing the way, has seen nearly 500 per cent re­turns over the past decade, out­pac­ing art and wine by more than 100 per cent. Last year, the most ex­pen­sive car sold at pub­lic auc­tion was a 1956 As­ton Martin DBR1, which sold for USD22,550,000 at the RM Sotheby’s Mon­terey 2017 sale. This year, a 1965 Fer­rari 275 GTB Spe­ciale fetched USD8,085,000 at pub­lic auc­tion.

Among pas­sion as­sets, clas­sic cars re­quire the most ten­der lov­ing care. “Cars need to be driven reg­u­larly in or­der to be tech­ni­cally sound and main­tain their op­ti­mal mar­ket value,” says Di­et­rich Hat­lapa, Founder of His­toric Au­to­mo­bile Group In­ter­na­tional, an in­de­pen­dent Lon­don-based re­search or­gan­i­sa­tion renowned for its clas­sic car mar­ket in­dices. “Me­chan­ics and re­stor­ers who work on the car need to be ex­perts in that par­tic­u­lar field. If not, they can po­ten­tially de­stroy value by han­dling the car the wrong way.”

While the ap­peal of clas­sic mar­ques re­mains strong in the US and Europe, Hat­lapa notes that “many Asian own­ers like newer cars, su­per cars or rare per­for­mance cars (such as su­per­cars like the 1995 McLaren F1 and 2013 Lam­borgh­ini Ve­neno, which are pro­duced in ex­tremely small quan­ti­ties), which can be in­stantly col­lectible”. As to which mod­els fare best fi­nan­cially, Hat­lapa rec­om­mends Euro­pean mar­ques with “a strong rac­ing or sports car her­itage”. Rar­ity (cars made in num­bers smaller than 1,000) di­rectly cor­re­lates with value, as does con­di­tion. “Full his­toric doc­u­men­ta­tion of any ex­am­ple and all orig­i­nal ac­ces­sories for the car are im­por­tant. Cars in pre­served orig­i­nal con­di­tion can fetch even higher prices than fully re­stored ex­am­ples,” says Hat­lapa.

CLAS­SIC BEAUTY The 1956 As­ton Martin DBR1 was the most ex­pen­sive Bri­tish car sold at pub­lic auc­tion last year.

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