Luxury cars are always in high demand due to their style, comfort, and performance. They hold their value well and continue to appreciate in value over time. Many luxury car owners take pride in owning a piece of automotive history. Luxury cars are not only collectible but also an excellent investment, and ready source of hassle-free loan collateral.
What makes a car luxury, and furthermore, what makes a luxury car a collectible?
A luxury car is defined by a few main characteristics. For starters, luxury cars tend to be more expensive than your average car. They also offer more features and amenities than your typical car, and they’re usually made with higher-quality materials. Here are a few other things that make a car luxurious:
- Exterior design: Luxury cars often have sleek, stylish exterior designs that make them stand out from the crowd.
- Interior comfort: Luxury cars typically have spacious, comfortable interiors with plenty of high-end features like heated seats and premium sound systems.
- Performance: Many luxury cars offer powerful engines and great handling, so you can enjoy an exhilarating driving experience.
- Technology: Most luxury cars come packed with the latest tech features, such as hands-free infotainment systems and advanced safety equipment.
Now, once a car is considered luxury, what makes it a collectible? Luxury cars are not just about prestige and status. They can also be considered collectibles, due to their rarity, desirability, and investment potential.
Here are some of the factors that make a luxury car collectible:
- Rarity. Some luxury cars are produced in very limited quantities, which makes them highly sought-after by collectors. For example, only 500 Ferrari Enzos were ever made, and each one is now worth millions of dollars. Similarly, there were only 36 Lamborghini Reventóns manufactured – making it one of the rarest supercars in the world.
- Desirability. Certain luxury cars become icons and attain cult-like status over time. The Mercedes-Benz 300SL “Gullwing” is a prime example – its unique design and engineering innovations have made it one of the most desirable classic cars on the market today. Other examples include the Ferrari 250 GTO and Porsche 911 Turbo S “Flatnose” – both of which are highly coveted by collectors worldwide.
- Investment Potential. Many luxury cars appreciate in value over time, making them excellent investments for discerning collectors. For instance, a pristine 1964 Ferrari 275 GTB/C Speciale recently sold for $26 million at auction – more than double its estimated value! As such, collecting luxury cars can be lucrative as well as enjoyable.
Often, luxury, vintage, collectible…these words are all thrown together in a pot. However, they are not the same. When you’re investing in a luxury car, it’s worth considering whether it’s a collectible or will be one day. Luxury cars that are rare, have high desirability, and increasing investment potential, are all cars that might make great collectibles one day, if not today.