Vintage car market booming through the Covid-19 pandemic

Phil with his Holden SS ute.

 

IN these uncertain times, many people are looking for a better return on their investments to secure a comfortable retirement in their twilight years.

‘Super’ can be preyed upon by unscrupulous fund managers as disclosed by the recent Royal Commission, shares can be volatile and real estate, the current flavour of the month, can suddenly crash.

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As for money in the bank or in term deposits, forget it as returns lately are close to zero.

Phil Wellens from Lemon Tree Paint and Panel has recently found a nice little nest egg and it’s all due to the pandemic as he explains.

“The covid thing has sparked interest in vintage cars and in particular ‘muscle’ cars which people have scooped up as an investment,” he said.

Phil, who is registrar of the Tilligerry Car Club, has had his finger on the pulse and some of the price increases seen lately have been mind boggling.

“I bought four Holden SUVs in 2015 for $2000 each and now they sell for $30,000,” he added.

It’s not only cars which are sought after, motorbikes can appreciate in value as well.

“I have a Kawasaki Z 1900 which I bought for $12,000 three years ago.

“It’s now worth $36 000,” he remarked.

Phil also suggests that investors tread warily.

“Not every make or model will skyrocket in price.

“You need to watch the market carefully before buying in,” he advised.

 

By Geoff WALKER

 

A vintage car at the annual Tilligerry Motorama which draws around 400 exhibitors.

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