27-colour Landy built for UK knight

Land Rover worked with British designer Paul Smith to create a unique 4x4 - a one-off, 27-colour, Defender with luxury trim! GALLERY

Next Ranger bakkie for SA unveiled

Upgraded engines, new tech and new front... Ford's next Ranger bakkie will arrive in SA later in 2015. We have details and gallery!

Big bucks in classic Ferraris

2013-03-04 08:07

CLASSIC CARS: At auctions, classic Ferraris have topped the lists of most valuable cars because of the high investment growth.

  Video

Video: Ferrari Enzo WRC?

2013-02-12 08:34

Ferrari's are performance-bred super cars suited to life on the race track. A driver decides to break the mould by drifting an iconic Enzo through a dirt track! VIDEO

LONDON, England - Recently in the UK's Financial Times a number of assets were analysed to see which gave the best growth over the previous 10 years.

A high-end New York residential property had increased in value by 72% but a similar property in Hong Kong had risen by 220%, a figure more in line with the performance of fine art, stamps and rare coins.

OLDER IS BETTER

None, however, come close to the 395% return on classic cars which, along with gold, continue to be the market with the best investment growth.

Classic Ferraris are leading the trend, in recent years regularly occupying the top slots in the list of 10 most valuable cars sold at auctions with two examples of the 250 Testa Rossa having been sold for the equivalent of more than R109-million, the second going under the hammer for a record R149-million.

This underlines a general trend with all classic Ferraris, evident from the value reached by a long-wheelbase 1959 250 GT Berlinetta sold in 2003 for R10.9million – and to a similar car sold in 2012 for R60.9-million, a more than four-fold increase.

NEXT ON WHEELS24X
Read more on:    investment  |  property

Read Wheels24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining

Inside Wheels24

Why the Porsche Coty controversy sucks

'Our SA Car of the Year is something to be proud of,' writes PHILIP HIGGO, who agrees with Porsche's Macan diesel earning the 2015 title. Find out why...

There are new stories on the homepage. Click here to see them.