{"id":9116,"date":"2016-02-25T02:42:54","date_gmt":"2016-02-25T07:42:54","guid":{"rendered":"https:\/\/thatdope.com\/rides\/report-6-hottest-collector-cars-2016\/"},"modified":"2016-02-25T02:42:54","modified_gmt":"2016-02-25T07:42:54","slug":"report-6-hottest-collector-cars-2016","status":"publish","type":"post","link":"https:\/\/thatdope.com\/rides\/report-6-hottest-collector-cars-2016\/","title":{"rendered":"Report: 6 Hottest Collector Cars 2016"},"content":{"rendered":"
In recent years the classic car market outpaced all expectations to the point where a classic Ferrari built between 1955 and 1965 is literally worth roughly its weight in gold. For reference, a 1956 Ferrari 290 MM Spider (pictured above) weighs about 900kg and the price of gold per kg is roughly $34,000 (market rates December 29), which will become important to note in a moment. While you do the math on that one, just know that while vintage cars with the prancing horse on their hoods continue to command the highest premiums at public and private sales, trends and tastes are starting to change.<\/p>\n
According to US-based classic car valuations and insurance company Hagerty, the market is starting to slow down, but that\u2019s hardly surprising. In the US alone, a new record \u2013 $1.45 billion \u2013 for classic car spending was set over the course of 2015. And, $28,050,000 of that was spent on just one car, a 1956 Ferrari 290 MM Spider (Image credit:\u00a0Ferrari \u2013 Flickr \u2013 Stradablog (3) by Tino Rossini from Toronto, Canada \u2013 Ferrari. Licensed under CC BY 2.0 via Commons). That made it the most expensive car to fall under the hammer this calendar year, and the entire top 10 for 2015 are also classic Ferraris, accounting for over 10% of all money paid for classics and collectibles over the period.<\/p>\n
The world is running out of Ferraris to sell, and as a new generation of car collector comes of age, a noticeable change is starting to occur. \u201cThe market is still growing, but at a slower rate than we have witnessed in the past three years,\u201d said McKeel Hagerty, CEO of Hagerty. \u201cThe notable exception is rapid growth among younger buyers who have entered the market and are exercising their buying power by spending on the poster cars of their youth.\u201d<\/p>\n