Classic cars have shown a faster increase in value than other items in the luxury goods category says Sharon Paterson, CEO of Infiniti Insurance.
“For the decade ending in December 2018, the Knight Frank Luxury Investment Index — presented during the VCCM HAGI conference — has measured collectable cars as gaining 258% in US dollar terms, trumping the 10-year returns of watches, wine, jewellery, stamps and art according to a report in Business Day,” she points out.
“The reality is these cars are an investment just like art and are in most cases viewed in dollar, pound and euro terms and as such are a hedge against the rand. The rarity of many, with their value continuing to increase, makes replacement or repair very difficult without insurance.
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