These are the classic cars South Africa’s millionaires want in their garages – and Why classic cars are so sought after vs other investments
Classic cars were the best-performing asset classes over the past decade, a new report by New World Wealth shows – and South Africa’s super wealthy are getting in on the gains.
New World Wealth has published its 2018 South African Wealth Report, showing exactly how the country’s richest people are investing and spending their money.
The group looked specifically at investment avenues being taken in South Africa, highlighting the best and worst-performing asset classes over the last 10 years – with classic cars being the stand-out investment.
According to NWW, the global classic car market is valued at around $5 billion, with the group’s in-house indices showing that classic car prices have risen by a strong 160% over the past 10 years (in US$ terms), making it the best-performing investment class for wealthy people globally.
There just can't be many of those Bugatti Type 41 Royale (from 1930's) around to buy. One great outcome is that these classic vintage cars get to be preserved for future generations and one hopes at those prices they are extremely well looked after.
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These are the classic cars South Africa’s millionaires want in their garages Classic cars were the best-performing asset classes over the past decade, a new report by New World Wealth shows – and South Africa’s super wealthy are getting in on the gains. |