Exclusive, eye-catching and radically designed, classic vehicles have always been among the favorites of celebrities. Now, in addition, they have become a refuge value where to invest, especially some models whose revaluation has skyrocketed, says Martijn Elvers, external relations of Aston Martin Owners Club Spain. Elvers owned a 1972 Lamborghini Jarama S (number two of only 150 built) and now drives a 1991 Aston Martin Virage (number 395 of 400). “I sold my Lambo just before the boom and in a year and a half it appreciated close to 200,000 euros. I was pulling my hair out!” he exclaims.
Today, the Aston Martin DB4 GT Zagato (of which only 19 units were manufactured) exceeds 14 million dollars at Sotheby’s auctions. And it is that, according to Elvers, who is also the founder and president of the Car For Smiles Association, collector cars are beginning to be considered works of art. “Unlike a painting or a sculpture, which you enjoy looking at, with a classic car there are many more ways to enjoy it: looking at it, driving it, cleaning it…”, he explains.
The cars manufactured in 1960 and 1970 are perhaps the most coveted for their groundbreaking design. Some emit a low, guttural noise that allows you to travel back in time, to a time when everything seemed possible. They are cars with an old soul and noble materials (leather, wood, etc.) that are not at all reminiscent of those of today.
Within this category are included muscle cars, that is, cars with an imposing façade and sporty features whose purchase price was until recently (when it was still possible to find some models for less than 20,000 euros) relatively accessible to the general public. Usually produced in the US, this category also includes sedans or even station wagons with high-powered engines.
For the past couple of years, however, collectors on a tight budget have been shut out of the market due to the wild appreciation they have experienced, reports The New York Times. “Millennials who see The Crown want to buy a classic Land Rover Defender,” the article notes, “but those made for the US market in 1995 and 1997 can top $200,000.”
For this reason, the main clients of classic collector cars are well known. Lady Gaga keeps a mint blue Lincoln Continental, a Ford Mustang and a Chevrolet Nova SS in her garage. Jim Carrey owns a Porsche Panamera and a Mercedes Benz SL63, although the car that really drives him crazy is a 1976 Lamborghini Countach. For her part, model Kate Moss drives a Porsche 911, while Kim Kardashian has a Ferrari among her fleet. 458 Italia, a Mercedes Maybach and a Rolls-Royce Ghost.
But the list of celebrities who own collector cars is endless: Scarlett Johansson, Justin Bieber, Cristiano Ronaldo, Ralph Lauren, the Sultan of Brunei…
Classic cars roar in investment funds, headlined Reuters in April. “Their value has increased by 185% over the last decade, outpacing other luxury industry rivals such as wine, watches and art, which has pushed them into second place, after rare whiskeys,” notes the Knight Frank report of 2023.
To sample a button: if in 2018 a Ferrari 250 GTO became the most expensive car ever sold in the world after reaching 48 million dollars at auction, in 2022 the record was pulverized by a Mercedes-Benz 300 SLR Uhlenhaut Coupé of 1955 that reached 135 million euros.
“Thinking of acquiring a classic vehicle as a refuge value where to invest is something that has spread as a result of the crisis, but that only makes sense with some Ferraris from the golden age, with Maseratis, with very special Porsches or with models of very high performance and few units”, says Javier Romagosa, director of the magazine La Escudería, dedicated to vintage vehicles.
Collectors of classic cars and motorcycles dispense so much care with their acquisitions that, despite being at least 25 years old, they seem to have just come out of the factory. “After a year, my Aston Martin Virage has covered about a thousand kilometres”, estimates Elvers after commenting on the personal satisfaction that driving backwards in time produces and sharing experiences with his fellow Aston Martin Owners Club, one of the most ancient of the world
