When you think of an antique car, the first
thing that probably pops into your head are those beautiful classic
cars you might pass on the highway going 40 mph or maybe even the ones
you've seen at classic
car shows. The fact is that there is actually a big difference
between a classic, and an antique car.
According to the Antique
Automobile Club of America, for a car to be an antique, the basic
criteria is 25 years or older. That of course, would classify cars made
in 1984 as antique. Whether or not they have seen better days,
or maybe not even a single good day, they are still antiques and could
also still be very valuable.
Collecting antique cars is like a hobby
for many people. It can also be a very profitable. The fact that
an antique car has to be 25 years or older, makes them very rare and
most likely unable to run properly. This is why having an antique
car that runs well and looks good can turn out to be very valuable.
For mechanics, buying antique cars, restoring
them, and selling them can not only be an enjoyable hobby, it can also
include a nice profit. However, the fact is, not everybody who
enjoys collecting and selling antique cars is a mechanic. Don't
be discouraged! There is a solution to that problem--that is a long
term investment of both time and money.
The way the system works is that you purchase
the car's about 5 years before becoming antiques. Car's that are
still running well at the age of 20 for the most part probably won't
make it to 25 without at least some work. Since most of these
cars are usually at the lowest price of their life, this is really an
important time for your antique car. It will determine whether it can
be transformed and maintained as a collectable item with greater antique
car value or a useless piece of junk.
Also, you may
need to purchase a good amount of them because there is still a chance
that after the 5 years of storage some of the cars may have croaked.
For example, buying 20 cars at about $500 would cost $10,000, but once
they become antiques, just one car could make all of your money back!
Depending on the market, the value when you purchase the cars to when
they become antiques could really jump.
For starters, the key to keeping these
cars in good condition is good storage.
Not everyone has a garage that fits 20 cars or a large parking lot in
their backyard. So, there will be some expenses regarding the storage.
For outdoor storage, it is also important to keep them in dry areas
in order to reduce rust. Keeping them covered will also prevent any
damage to the glass or paint job. You also need to start the cars
at least once every three months. There is no limit to how long
you store the cars either. In fact, the longer you can store them, the
rarer they will become and in turn the more valuable.
The truth is not everybody has $500 to
throw around for every piece of junk they see on the side of the road.
Having knowledge about the market for antique cars could turn out to
be very useful. In other words; do your research! Every year there
is a new wave of cars that reclaim their fame and increasing their value.
If you plan on making money off of your antique cars, these trends are
important to pay attention to, especially in a market that doesn't seem
to be going anywhere anytime fast.
Classic Car Values
Used Classic Cars