If you’re going to invest a lot of your time and effort into a classic car, it’s best to choose a model which you are very passionate about.
At White’s Bodyworks, we see vintage motors of all shapes and sizes coming across our forecourt and some of these make our team of talented mechanics purr with delight.
When it comes to classic sports cars, we’ve been spoiled for choice over the years. With decades of experience delivering high-quality classic car restorations and repairs for owners for a wide range of models, White’s are one of the leading garages for this type of specialist work in the UK.
In the past, we’ve had Porsches, a Lamborghini and an Aston Martin or two coming across our forecourt. We’ve even seen an amazing Ferrari 355 Spider. Sometimes owners need a little maintenance or a service carrying out. Others require more substantial renovations and repairs.
But, if you were going to invest in a high-end classic sports car, how much would you have to spend on that initial buy? Our team has been doing a little research in this area to help you out.
Which is the Most Expensive Classic Ferrari?
At the time, the sale of a 1962 Ferrari 250 GTO in 2018 broke all the records. It fetched $48 million at Sotheby’s in California, beating a Ferrari 250 GTO Berlinetta that was sold for just $38 million in 2014.
What made it such a hot buy?
The car was a racing success and had won the 1962 Italian GT championship. It was driven by the first world champion for Formula 1, Phil Hill.
While the make and model may be just right, the right provenance and history can add millions to the selling and buying price. It’s something to think about when buying a classic.
In general, most classics don’t have this sort of provenance that skyrockets the price. What you pay is going to depend more on general things such as the age and make of the car, it’s condition and how much work needs to be carried out for restoration and repair.
Which Classic Sports Cars Are a Good Buy?
If you’re looking to buy a classic sports vehicle as an investment for the future, obviously you would like its value to increase over time. To ensure this you need to keep your car in excellent condition. Choosing the right model is also important.
- With a price tag of between £5,000 and £10,000, the Porsche 924 is currently a solid investment. The Turbo and S models, in particular, are likely to deliver a good return.
- Another good investment (expect to pay £7,000 to £12,000 for one in good condition) is the Jaguar XJ-S which first hit the market in 1975. In more recent times, these have shown a decent appreciation in value. It is also a relatively ‘easy’ car to maintain.
- The Ford Capri was probably one of the most accessible sports vehicles in the 70s and was often considered the poor man’s Aston Martin. It’s an iconic car that was used in many films and TV series during that period. Expect to pay at least £10,000 for a well-maintained car at the moment.
Quick Tips for Buying a Classic Sports Car
Buying a classic sports car is something of a trade-off between the condition of the vehicle and the cost that you want to purchase it for. A run-down classic can be cheaper to buy but you then need to pay for its restoration or repair and that can end up being just as expensive as purchasing one in tip-top condition.
A lot will also depend on what your passion is. The good investments at the moment seem to be with cars that were developed in the 60s and 70s. It’s important to think about the future, however. Newer cars could well have great investment potential. It could be worth looking at models from the late 80s and 90s, even the noughties that may deliver the returns you are looking for in the next 10 to 20 years.
The less mainstream your car is, the more you are likely to have to pay for it. There’s also the question of cost for maintenance and replacing rare parts that can make repairs and restoration costly.
It’s essential if you are investing in a classic car, whether you want it to increase in value or you’re simply an enthusiast and want to enjoy the ride, to build a strong relationship with a local garage.
At White’s Bodyworks, we have a huge amount of experience and a fully equipped garage for classic car owners. We can help with everything from maintenance and servicing to full body repairs and restorations.