https://www.elliman.com/insider/the-wealth-report-2023-art-leads-the-knight-frank-luxury-investment-index
“Broadly, the classic car market has neither a positive nor an inverse correlation with other sectors,” Knight Frank’s Andrew Shirley wrote in the wealth report. “In other words, the classic car sector generally marches to the beat of its own drum.”
And these days, that drum is beating faster and faster:
According to Classic.com, a site that tracks vehicle indexes, the 1992 GMC Typhoon was valued at an average price of roughly $20,600 in January 2022, and at the start of this year, it jumped nearly 70% to $35,000. The Knight Frank report included a survey of 500-plus private bankers, wealth advisors, and family offices representing a combined wealth of more than $2.5 trillion. When asked which investment of passion their clients are likely to purchase in 2023, 34% answered cars.
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