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Car park life: how to manage your collection


Once your four-wheeled wonder is purchased, management of the passion investment becomes imperative to maintain its integrity and preserve its value, ideally in consultation with experts such as a marque specialist. Storage, whether in purpose-built


facilities or a warehouse, and storage coordination, if the car travels between shows and museums, are also key to maintaining the vehicle, Haithwaite says. Moreover, storage conditions often


form part of an insurer’s requirements. “Another major factor is maintaining


the car’s profile,” he says. “This includes documentation of its


racing history, appearances at concours events and inclusion in museum displays—all of which raise profile and may even increase its value.” He says ownership is a key


consideration in terms of protecting the asset. A car, or car collection, may be owned directly by an individual, but often they are held using a structure such as a trust, company, or foundation. “Structuring the collection is also


particularly beneficial from an estate planning perspective, as it allows collectors to assess their overall wealth position by seeing the value of their cars alongside other assets such as quoted investment portfolios, real estate and bank account balances.” Seidl says keeping 10 or so cars


under covers in a garage and waiting for them to appreciate in value is “not how it works”. “It has to be a living, managed


collection and, as with art or wine, tastes change. “In 2012, you could have bought


a Ferrari Testarossa Monospecchio from, say, 1985 for £55,000 ($70,500). By the end of 2015, you had to pay £120,000 ($154,000) for it and now they are back to £90,000 ($115,400). With every model there is this cycle.”


ISSUE 74 | 2018


We are only here once and cars, art, jewellery etc should always primarily be bought because they put a smile on your face


End of the road: driving into the sunset


Coutts advises its clients to think about the future of their collection well before inheritance becomes a reality. Mohammad Kamal Syed, managing director of Coutts,


says what happens next is a very personal decision and often requires the input of close family members. “It’s important to ask yourself questions such as whether


you would like the collection to stay complete or be divided up,” Syed says. “Should it be gifted to a museum or be allowed to be sold


to another private investor? Every owner is different and often the answer is a combination of these choices.” Family members may not realise the value of the


collection amassed by their dearly departed collector. Specialists are available to identify worth and history then liaise with the best broker or auction house, should the family wish to liquidate the assets, Haithwaite says. “Before any decision is made to liquidate, families need


to consider that if they sell a car it is likely to be gone forever and can’t be enjoyed by future generations, which may be an issue if the car has sentimental significance,” he says. However, the major driving force with classic cars for


many passion investors is the pure fun of it all in the here and now. Ask anyone at the next London Classic Car Show. “Buy what makes you happy, and buy something you can


see yourself using,” Hayhow says. “We are only here once and cars, art, jewellery etc should


always primarily be bought because they put a smile on your face.” Collecting vintage vehicles is a three-dimensional


investment, Ostroff says, back at his stand. “You can touch, play with and enjoy, and we hope


Top: A VW Beetle (L) from 1955 and a Porsche 911 built in 1966


people will drive them. It’s unlike having shares or savings in the bank that you cannot see and, in fact, these cars outperform those things in terms of returns. That has slowed down somewhat, but a lot of the rarest and most difficult to find cars are still wanted.”


CAMPDENFB.COM 97


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