How to invest in classic cars

ALTERNATIVE INVESTMENTS

Marcus Carlton, director of HFM Columbus Wealth Management, looks at the risks and benefits of this alternative investment.

A 1970 Porsche 911S is a nice car, smart iconic lines, a reasonably powerful motor and not too tricky handling. A really good example can be bought for around £50,000 these days. So why did a slightly shabby grey example with stone chips and rusty chassis just sell for a whopping $1.3m in August of this year at a time when the investment markets were in full meltdown? In a word: Provenance. The very car in question had been featured and driven by uber cool Steve McQueen in the 1970 film Le Mans where he played the part of Michael Delaney an American racing driver. Even though Steve...