Do you own a German collectible car, such as a BMW 850 or CSL?
Recent data shows that the value of German collectible cars has increased substantially over the last year. According to the Hagerty Price Guide Index of German Cars, the value of these models has increased by 32 percent in only 4 months.
So why are so many discerning collectors with an eye for quality machinery opening their wallets? Besides the upturn in the U.S. economy, the media covered collectible cars extensively in 2013. In fact, last year’s car auctions sold four of the five most expensive cars ever. Three of those cars were sold in the last six months.
Antique German Cars Are Making a Comeback
Ferraris might be some of the sleekest, fastest cars around, but collectors who filled their garages with German engineering have plenty to smile about. The Hagerty index assessed the values of more than two-dozen cars in type #2, or excellent, condition. Cost increases were apparent across the board.
But no other vehicle outperformed the 356 Carrera. Sales for this model spiked in 2013, establishing an entirely new pricing tier for elite Porsches. Hagerty notes that this influx is largely due to private-sector sales, which comprises individual car collectors.
The Mercedes 300SL is another big player, especially the roadster and Gullwing models. Also, the values of the M1 and BMW 507 jumped more than 25 percent.
The Future of German Collectibles
German cars will always have a place in the garages of zealous car lovers, but will their costs continue to appreciate? Like all stocks, the value will most certainly plateau at some point, but not any time soon. Hagerty states that 2014 might see a slowdown of the dramatic increases from 2013, but it is unlikely that the trends will stop altogether.
As time passes, new cars will join the elite collectibles market. Experts forecast that three German models, in particular, will be worth their weight in gold in the near future:
1. Mercedes-Benz E55, CLK55 and SLK55 AMG Models
AMG identifies a group of Mercedes vehicles designed for high performance. Equipped with sporty suspensions, hot-rod wheels, spoiler kits and, of course, powerful engines, these modern marvels redefine the “Benz” brand name.
2. BMW M3 convertible / coupe / sedan
From 2008 to the present, the new M3 models drive like a BMW on steroids. The six-cylinder engine was swapped for a V8 that generates 414 horsepower. With new steering, brakes and suspension, the beefed-up design might even turn the heads of a few muscle-car enthusiasts down the line.
3. 2-Seater BMW Z3
From 1996 to 2002, the BMW Z3 was capturing the imagination of every teenager that laid their eyes on the sleek, sporty exterior. Fast, compact and equipped with a relatively powerful six-cylinder engine, the BMW Z3 is a staple for European sports cars that will find its way into the garages of car enthusiast worldwide.
It’s tough to say which cars will be the most valuable collector’s pieces in the future, but you can be sure that investors and car lovers will keep their eyes out for the next big thing in motorsports. Today, car auction revenues are surpassing $1 billion. It’s interesting to imagine how the manufacturers would feel knowing that their designs are worth 100 times more than when they were brand new. After all, the 1957 Mercedes-Benz 300SL Gullwing sold for a mere $7,295 when it was first introduced. Today, they’re worth as much as $1,100,000.
German Car Repairs
Repairing German vehicles can be particularly difficult. Not only do you need to locate the parts, but you need to find experts with years of experience working with German models. With more than 32 years of experience working with German cars, our ASE Master-certified technicians will get your vehicle back in top working condition. For more information, call us at 408-446-9727.