It’s the dream of us all, isn’t it? Knowing tomorrow’s lottery numbers. Correctly predicting the long-shot Super Bowl winner before putting down a big bet in Vegas. I don’t know about you, but as a gearhead I harbor similar fantasies about the Next Big Thing in collector cars.
The collector car market has waned somewhat from the breathless heights of 10 years ago. Sure, there are still pockets of crazy money — witness Hemi ‘Cudas that can still trade for outrageous sums, not to mention air-cooled Porsches and Pebble Beach with their Holy Grail Ferraris hammering away for many tens of millions of dollars.
A while back while researching the topic of automotive scams and scoundrels, I came across the story of the Amectran Exar-1, a proposed electric car, of which only a prototype was made from a Frua built concept car. It turns out that the Exar-1 still exists and it’s in the collection of Myron Vernis, who lives near Akron, Ohio. The car writing gig has given me access to some fine collections and contact with a number of prominent car collectors like Ken Lingenfelter and Jay Leno (both of them very much regular car guys who have the means to indulge a passion for cars that must of us share with them). Ken and Jay are great car guys, without a doubt, but I have a taste for the offbeat so my favorite car collector has got to be Myron because he might very well have the best collection in the world of unusual and oddball cars. (Read More…)
Last week, I wrote an article entitled “Don’t Invest In These Investment Cars.” I expected the usual: at least one commenter would ask why I didn’t include a Panther derivative (which happened), my parents would ask when I was going to get a real job (which also happened), and life would otherwise continue along normally.
But that didn’t happen. Instead, I received a phone call from everyone I’ve ever met asking how I dared to include the Buick Grand National on such a list. (“They’re like $30k! And they used to be like nine! Are you an idiot?!”) So this week, I’m going to play it a little safer and instead write a piece on good investment cars. Feel free to provide your feedback, as long as it doesn’t include the words “Crown Victoria.”
DISCLAIMER: Do not actually attempt to use cars as an investment. You have a better chance of getting into the NBA as a white guy from French Lick, Indiana.
Without further ado, here are my nominations.
Get any group of car enthusiasts together and they’ll eventually start arguing about which recent models will increase in value over the next twenty years. I don’t think it’s actually possible for assembled gearheads not to discuss this topic, usually somewhere in between stories about past speeding tickets and bashing the Toyota Corolla.
As a result, “investment” cars have been covered quite a bit. But here’s an interesting variation: which cars won’t increase in value? Of course, the easy answer is “most of them.” But more specifically, which recent cars are people holding on to, hoping for a value increase that just won’t come?