Collector Car Insurance: Spotting a Modern Classic

Collector Car Insurance Spotting a Modern Classic

Collector Car Insurance: Spotting a Modern Classic

One of the best things about auto collection is that the market is always expanding. Today’s “new car” can be tomorrows highly prized collectors piece. But not every car driven off the lot will become a collectable, in fact most will not. There is an art to predicting which vehicles will appreciate in value and those that will depreciate into simple used vehicle status. The trick is to invest wisely in the moment.

In a recent article, Popular Mechanics investigated the auto industry over the last few decades in search of the “new classics” or vehicles which are fetching increased prices on the collectors market. Here are a few of their findings:

Porsche Carrera GT (2004-2006)

Why: Rarity. While Porsche’s are known for holding their value well, only a few modern models are being sought after in collector circles. The Carrera GT is one such model. The V10 powered sports car boasts 605 hp which allowed Jay Leno to set three standing-start speed records in the model. Only 604 GT’s produced were available to the U.S. and a grand total of 1270 were ever made. While not yet a classic or officially a collector’s piece, the Carrera GT has held its value and is predicted to increase over time due to rarity and performance capabilities.

VW Vanagon Camper Syncro (1986–1991)

Why: Niche Market. While VW does not have a strong presence in the collector car market, their van models have become routinely sought after in certain niche markets. The Type 2 Microbus for example, the groovy one from the 60s, has fetched six digit prices at auctions. According to Popular Mechanics, the Type 3 released during the 1980’s through 1991 has increased in value as well. Much of the draw to these models are the built in camper functionality and easily modified to increase power and performance.

Ferrari F40 (1987–1992)

Why: Record Breaker. Ferraris notoriously hold and improve their value when properly maintained, but the F40 has doubled in value in the last 20 years. Weighing less the 2500 pounds and sporting 471 horsepower, the F40 was the first street legal production vehicle to ever break 200 mph. Its styling, performance and reputation have made the F40 a sought after prize and investment.

To read the full Popular Mechanics article, visit their website.

At Condon Skelly, we understand the importance of protecting your collectible, antique, classic, muscle and exotic cars is. That’s why we specialize in offering complete collector car insurance. We’re a group of collectors, enthusiasts, and professionals who specialize in insuring all types of collector vehicles. Our team is as passionate about protecting your vehicles as you are about collecting them. We can help you secure affordable, industry-leading specialty car insurance coverage to protect your classic, antique, or exotic vehicles. For more information, contact our collector car insurance specialists today at (866) 291-5694.

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