No, no, no
I am a fully paid-up member of the petrolhead club. I’ve owned a Ferrari Dino, 308, 456 and 575, a Porsche 911 RS and 964 RS, a Lotus Elan Sprint, a Lancia Evo Integrale, a BMW Z8, an Eagle E-type, a 289 Cobra and more. In all that time I’ve never bought a car as an investment or with leveraged money; I bought and drove what I could afford at the time. I must have ‘lost’ millions by selling cars rather than hanging on to them (the 911 RS sold for £55k, the Dino for £60k, etc) but owning and enjoying cars is what it’s all about.
Far too much ink flows in this magazine describing how a reader can make money out of their hobby, even owning a car simply because it may rise in value. Please stop the propagation of the myth of seemingly inevitable price rises.
If profit on a car is making you smug, sell. If enjoyment of your collection is what makes you tick, keep ’em. Bear in mind that the number of future buyers is dramatically diminishing. Many people born after 1990 cannot or do not wish to drive cars with no aircon, traction control or an automatic gearbox.
Now, I’m off for a drive... Mark Grenside