Good news, you can start a fundraiser and have fun without spending all your fortune on it. Advice from Gautier Rossignol, associate director at Aguttes, in the collector car department, to achieve this.
L’Express: How has the collector car market developed in the long run?
Gautier Rossignol: In the 1980s, it experienced fierce speculation, which came to an abrupt end in 1992. Sales resumed in the early 2000s. So in 2012, the market experienced a very strong resurgence of interest, with an average increase in prices of more than 470% in Three years! A Ferrari F40, for example, was sold for around 280,000 euros in 2012 and 1 million euros in 2015. After this very rapid increase, prices eroded, signaling the end of the speculative wave. However, the market remains very dynamic and some models retain a high rating.
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What are the most popular models?
There is not just one market for vintage cars, because you have to think for generations. The first is the ancestors’, built between 1890 and 1904, followed by the pre-war period, which dates from 1905 to 1949. After that, the period of the car’s golden age goes from the 1950s to the 1970s or 1980s, according to to experts. Finally the market “untime”, with cars from 1980 to 2000 or 2010. This distinction between construction periods is important because collectors generally prefer models that characterized their youth. As over the last ten years, our market has become much younger, buyers in their forties prefer it young timers, while the previous generation is still in favor of the golden age.
What criteria determine the assessment of a classic car?
First, the rarity because some models were produced in limited numbers and others are kept for a very long time by their owners and rarely put up for sale. So the production period and the brand, some benefit from a higher rating, such as Ferrari for example. Finally, the history of the car, if it belonged to a personality, whether it is a first or used model, whether it is in original condition or has been restored, damaged or not, depends on its assessment.
You also need to take into account the character of the car, those who have driven and won rallies or the Grand Prix are highly sought after today and their value is increasing. But here, too, we must distinguish the prototype models from the grand touring models and the beautiful road sedans. For example, a Ferrari 250 GTO that drove under the brand’s colors and won the sports car championship is worth between 70 and 75 million euros. A Porsche 906 that drove in the 1960s and remained in the hands of private individuals is worth about 2.5 million, and a Jaguar E-type modified to be eligible for historic races is sold for about 250,000 euros.
Do you have to be a millionaire to get into this type of collection?
Not at all, it is possible to start from 5,000 euros, the price of a Diane Citroën for example. But in this case, it will be necessary to start with popular cars that are not qualified for the competitions. Regardless of the model, our market is very fragmented and there is not really an official assessment. It is possible to buy from a specialized grocery store, on a dedicated website, from an individual through classified ads or in an auction house.
What precautions should be taken before purchasing a vintage car?
Always buy a car that you love with your heart and that meets the use you intend to make of it. The model needs to make his owner dream so he will drive it. It is also a necessity to preserve the value of a car, because if it does not drive, it takes damage. Then it is necessary to make an acquisition at the level of its funds, taking into account the purchase price, but also the cost of maintenance.
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It is always necessary to have additional funds to be able to cope with an unforeseen repair. This is one of the main problems with car collections because many buyers forget that an old car can hold unpleasant surprises. Finally, it is necessary to surround yourself with professionals who are able to discover the authenticity of the parts and the quality of the repairs and able to provide a real value of expertise. For there are many counterfeits of original cars and you need to have a good eye to spot them.
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