Given their exceptional investment performance over the past decade, classic cars have become a solid alternative asset class in their own right, increasingly popular among a broad, active audience of all ages. Today’s collectors are as likely to be investors as enthusiasts, if not both.
Despite its broadening appeal, however, when it comes to classic car collection there is a lot to get to grips with. From the crucial initial due diligence through insurance, transportation, storage and beyond – anyone tempted to dip their toe into the exclusive world of classic cars must first give due consideration to the practicalities of owning these historic vehicles and what it takes to maximise their value.
So what is it that you need to know? In this new guidance note, available to download below, I talk through each step of the classic car collecting journey and provide details of my own experience to highlight some of the key practicalities that arise along the way.
James Haithwaite is a client services director in our Jersey office, working closely with UHNW clients and their trusted advisers to provide expert asset holding and administration services as well as a comprehensive suite of classic car collection management services.
This article has been issued by First Names Management Limited on behalf of certain companies that form part of the First Names Group. The article has been prepared for general circulation to clients and intermediaries, and does not have regard to the particular circumstances or needs of any specific person who may read it. Nothing in this article constitutes legal, accounting or tax advice or investment advice.
The information contained in this article has been compiled by First Names Management Limited and/or its affiliates from sources believed to be reliable, but no representation or warranty, express or implied is made to its accuracy, completeness or correctness. All opinions and estimates contained in this report are judgements as of the date of publication, and are provided in good faith but without legal responsibility.