STUD or DUD: Learn Which Supercar Prices Are Trending UP and Which Are Spiraling DOWN

Too dear for my investing.

By and large, collector cars are a terrible investment.

Yes I know there are a small number of Ferraris that could have been bought for $20,000 in 1973 and are now worth $2,000,000 but if you do the math and use your HP-12C financial calculator - that works out to a 10.5% compound return over 46 years - and given the rarity of those vehicles and the likelihood that the vehicle would be held for only a few years and sold, it is not realistic to assume you will make money by investing in collector cars.

Now, if you 'day-trade" some "hot" cars on the otherhand, you might make some coin on a portion of them but I suspect that if you average out all your costs of doing so - you will end up with a 2% to 4% return all-in.

A better bet would be a good mutual fund.

When I was 14 I got hired by a gentleman who had a collection of cars rather than a wife and kids. He kept them in a building that had air conditioning in the summer, but it being where I live it's dusty. Once a week, I would dust his cars. Every other week they got started, and warmed up outside, then driven around the block. He had a Lamborghini Islero (which we still have), A Ferrari Daytona (which we sold), some TVRs (kept 2, sold 3, bought 4), some Triumphs (sold), and a couple of Jensens (kept). He trusted me enough at 16 to drive them around the block with him in the passenger seat. Soon I was working for two of his buddies with their cars. We'd go to concours meets where I'd have to be dressed up and pretend to have class, bu I learned a lot. Two of these wonderful men have since died of debilitating illnesses and they disposed of their cars by selling the first selling to the remaining two and then finally the second one to one remaining to avoid inheritance taxes. All three were attorneys who knew accountants who could make anything happen. I learned as much from them as I have learned in my degrees. If you collect cars you do so because you love the cars. The cost of storing them, maintaining them, and insuring them is hefty. You CAN make money collecting cars but it's definitely not foolproof. I am now tremendously lucky to have a life like theirs along with a wife and 6 kids.

Great story Matt, entertaining as always! Thanks for sharing!

I wouldn't go with a mutual fund but rather an index fund. Just me though.

Good stuff, Matt.

Cheers and best wishes!

Still miss my Islero, of course I also miss my Ghibli, my Mistral etc.

Very nice story Matt, sounds like a dream job for a 16yr old. Glad this came out when it did though... scratch that LaFerrari.

I was very paranoid about scratching the cars. I met the first guy because I was ballsy enough to step over a rope to get a closer look at a TVR Griffith. I'd never seen one and thought nothing of getting a better look. He materialized instantly with an attitude (deservedly so) and I threw it right back at him and began telling him about the car. When I was younger I spent a LOT of time avoiding home by finding ways to be busy reading elsewhere. He quickly checked what I knew and he was surprised that I knew what I did. We chatted the rest of the afternoon at the car meet and he drove me home in the Griffith. I think he was a little scared to drive his precious baby into my neighborhood. He always picked me up for work 6 blocks away at a supermarket. LOL

I would love a McLaren Senna. Senna is an idol of mine and that car is going to be an absolute weapon on the track.

Matt

Good story. 6 kids -I see you have a "hobby" outside of cars!!!

We had twins then immediately a single and then twins...all boys under the age of 8. So 5 kids biologically. My wife and I each have multiple siblings. About 5 years ago we took in a foster kid. His mother was someone I knew growing up and her life is out of control on meth and heroin. We were able to petition the courts to adopt so we did. As for the hobby, yes sir! My wife and I share a passion for it. I told our doctor that we didn't how we were getting pregnant and he said he could perform a minor procedure on me to keep it from happening again. I think the stork was involved to tell the truth.

Anybody whom is a foster parent or adopts a kid is a hero in my books. My current girlfriend wants kids and I feel at 46 I'm too old but I wouldn't rule out adopting an older kid from a troubled home like in your situation.

What heartless dickhead would down vote your post above? Come on Autospies -out the prick for a good old public shaming!!!

I honestly couldn't care less about down votes. (1) They don't hurt my feelings, but (2) because they are proof that people here are so fixated on voting down anything I say they've proven how small they are and I win. Anyone on a discussion board like this one that wants to be liked as a measure of their self esteem needs intense therapy.

I typically disagree with most of what matt says... but it is totally dependent on what he is actually saying and not who he is. I agree. you gotta be a special asshole to downvote foster parenting?!!

@zlives In real life I actually have a few self-wetting Liberal friends that I disagree with most of the time, but I disagree with their theses, but I like them as people.

This place is the Wild Wild West where the norm is to disrespect the person if you disagree with their thesis.

It's fun nudging people toward their psychopathy especially when some are so easily triggered.

If I were in practice, there are people here who I'd want on the therapy couch if they were well insured because they are probably incapable of wellness, but I'd be OK taking their money.

Can I interest you in a Giulia?