Antique Cars Are Recession Investments
For just 100 Euros, any investor can buy into the Liechtenstein-based Classic Car fund launched in February by the Zurich-based Count of Custoza family office. It may sound too good to be true, but with the recent recession, there have been many antique car dealers opening up to offer one of a kind unique cars for a fraction of the price. The fund aims to buy 350 million Euros worth of beautiful antique cars within 5 years, and has an annual target return of 17%.
This may sound unrealistic, but the fact is that the prices fetched by the more exotic classic cars have more than doubled in the last decade or so. Not to mention that the fund has some heavyweights on board including experts from Sotheby's and Christie's. Classic cars are a global business these days.
In America, it was the baby-boomers who kick-started this market by buying up muscle cars from their youth like the Mustang Boss, Chevy Chevelle, Corvette Stingray, Plymouth 'Cuda and Shelby GT500 competition cars. But today, wealthy people all over the world who are unnerved by the volatility of normal investment markets are looking for alternative assets like classic cars that have genuine tangible, long-term value.