‘Passion investing’ in classic cars is gaining speed

This was a great CNBC article on classic car investing. Something they coined “Passion Investing”. Basically the article says, Classic cars are gaining attention due to their nearly 500 percent returns over the past decade, outpacing art and wine by more than 100 percent.

Why now?

“In my decades of doing this, I’ve never seen collector cars recognized so universally as alternate assets and works of art,” Linden said, explaining why the time is right for this type of investment vehicle. “We are seeing record prices set at major auctions and a record-setting run-up in values, with cars going to every imaginable point across the globe.”

In the last three to five years, the volume of global purchases and shipments has exploded, he said, driven by new investors, as opposed to casual collectors.

“I’m getting a lot of inquiries from investors, and I saw a need to offer and develop a diversified portfolio product,” Linden added. “I often tell people, ‘If you think you can invest in one car, that’s gambling. It’s like buying just one stock.'”

— By Deborah Nason, special to CNBC.com

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