I’ve always thought of investing as something boring wealthy people do. I get the benefit of it, but as a not-so-rich guy it’s not something I’ve ever put thought into. I can get totally behind this new investment strategy from some German bankers.
That strategy is to invest in classic Porsche cars. “For customers with more than 1 million euros in liquid assets, a classic car can be an attractive addition to their portfolio in terms of yield and value stability,” Jens Berner, a vintage car expert at Suedwestbank AG’s asset management unit, said in an interview. “After the financial crisis, requests for alternative investments such as art, wine or classic cars had risen sharply.”
To prove that these cars can be sound investments, an OTC Classic Car Index was started for cars at least 30-years old. The index found that owners of classic Porsche 911 autos have seen their drivable investments gain 683% in value over the last 13 years. The bankers suggest investments in cars of a minimum value of 100,000 euros.
via BloombergFiled Under: Auto News