Classic cars have been, still are and likely will remain a passion for a great number of automobile enthusiasts. The reasons for their hobby are varied. Some owners enjoy the design of specific models, others prefer certain model years for reasons of nostalgia while some, although just a select few, collect these cars because they have value.
Classic cars have been popular for more than half a century, although they have definitely increased in popularity the last few decades. Classic car shows abound, with dozens, hundreds or even thousands of classic car enthusiasts gathering at fairgrounds, parking lots or anywhere with space enough to host them to show off their vehicles, compete for awards (such as “Best in Show”) and basically talk shop.
The idea of purchasing a classic car as a future investment is not common among these classic car owners, however, but it does exist. Many of these cars, once they have been restored, have values several times higher than when they were new. Some cases classic cars are selling for hundreds of thousands of dollars because of their scarcity, while others sell for a few thousand dollars because although restored they are fairly common, meaning they retain their popularity and are not difficult to find and restore.
For the most part, however, these classic car collectors choose vehicles that hold special significance for them. Perhaps it was a favorite vehicle from their childhood, or the same car their grandfather owner. They buy them, restore and cherish them. The idea of selling their classic car at some future date “when the price is right” never crosses their mind because they love their car. It is something closer to a favorite pet, not an inanimate object. The very idea of selling it one day is abhorrent to them.
So, regardless of why they buy their classic cars it is a good bet that they plan to keep it for a long, long time.