RESTORE OR PRESERVE
These classics can prevent prices of pristine models rising higher but then when they are restored they increase the number of models in the market.
Restoration is, of course, also a time-consuming and expensive exercise, according to Johan Krause of Auto Creations. You can choose to restore or to preserve, the latter meaning to keep a vehicle as is but ensuring it runs properly.
Krause cautions never to overrestore a car.
"Restore a car to factory condition," he says. "Anything beyond that is not a restoration, it’s just bling-bling."
The classic car market is not all about Ferraris and Porsches, although they have given the best returns over the past few years. There are Mercedes, MGs, Alfa Romeos and others.
Recently there has been a surge in prices of more common models such as the Ford Escort and Capri as well as the Peugeot 205 GTi and Citroen DS, cars that have appeal particularly to those who grew up in a certain era such as the 1980s.
The automotive world is changing and provided there is still space for classic cars on roads full of self-driving cars, there will always be a demand for them. One day in the future, people will yearn for the unique feeling of actually driving in the same way they love to listen to a record today.
The last word goes to Robert Coucher, founder of Octane magazine: "Art cars such as Bugatti, Bentley, Rolls-Royce and others will continue to be highly sought after, but it is the driving experience of a classic that will keep the market going."