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Investment “Vehicles” Redefined
Posted By Barry Ritholtz On September 18, 2004 @ 8:11 am In Finance | Comments Disabled
The WSJ takes a very interesting look at classic autos as alternative investment “vehicles” (their pun, not mine) in a recent article titled The New Investment Vehicle .
“To some degree, new interest in old cars is a reaction to the past few years’ lackluster stock performance. But it’s also a product of wealthy baby boomers seeking out cars they could only dream of owning a few decades ago. Now, 6.7% of drivers describe themselves as car collectors, according to CNW Marketing/Research of Bandon, Ore., up from 4.9% four years ago. Classic-car sales are also growing: At the Barrett-Jackson auction in Scottsdale, Ariz., considered a market barometer, sales totaled $38.5 million this year — up roughly 40% from levels of the three previous years. And so far in 2004, Barrett-Jackson and two other top auctioneers, Christie’s and RM Auctions, say 193 cars have sold for $100,000 or more, up from 154 for all of last year.”
If you are an online WSJ subscriber, you can see the full article — with many cool pics here .
If not, go to my extensive (and poorly formatted) excerpts at essays and effluvia .
Article printed from The Big Picture: http://www.ritholtz.com/blog
URL to article: http://www.ritholtz.com/blog/2004/09/investment-vehicles-redefined/
URLs in this post:
 The New Investment Vehicle: http://online.wsj.com/article/0,,SB109537015239220114,00.html
 essays and effluvia: http://bigpicture.typepad.com/writing/2004/09/investment_vehi.html
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