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| The Renault Vel Satis never sold, but is so good a car it can become a classic. |
DRIVING in a Renault Vel Satis and Citroën DS4 recently, I wondered
about the fate of these quirky French cars.
Much bigger than it looks, the Vel Satis was Renault’s most
sumptuous car in the noughties. Like the DS4 it is given personality by a design
that dares not just to be different, but way out whacky.
As far as could be established, only five were ever imported to
South Africa, giving the car the rarity value that makes up one half of a
classic car, but what is the X factor that makes the other half?
John Bentley, former editor of Car magazine and
these days publishing editor of Accelerate, says a car also has
to have history if it is to increase in value as the years go by.
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| The Citroën DS4 is as quirky as French designs gets, and pricey enough to already be a rarity. |
He assures that modern cars can still become classics, as his 1981
Porsche 356c did. “I bought if for R7 000, sold it eight years later for R65 k
and in 2010 the same car was sold for half a million. If in good nick, it will
fetch a bar today,” said Bentley.
He admits he did not do his homework in the 356c, which he could
have bought at an auction for half the price he had paid a week before he bought
it.
Bentley says only air-cooled Porsches, like the 993 turbo, can go
on to become classics, as these engines are more durable than today’s
water-cooled systems.
For Brian Bassett, amateur historian and ardent art admirer in
Pietermaritzburg, the elements that make the classic car are the memories and
the designer badge.
“Like important art, automobiles of character and rarity are part
of an international marketplace where auctions express, their value.
“In the United States, prices of over $1 million are regularly
achieved for muscle cars from the sixties and seventies like the Pontiac GTO,
while Ferraris with good pedigree and owned by the rich and famous have fetched
up to $15 million,” said Bassett.
He adds there is money in “them thar barn” finds yet. “Just as
collectors of fine paintings spend a good deal of their time searching for the
next great artist, so car collectors hunt for vehicles they can identify as
having the potential to become classics and to resell for a considerable profit.
“Collectors start their hunt about 20 to 30 years back from their
own time, so cars from the eighties are now being investigated.”
He warns that all collecting for investment and profit is subject
to a set of guidelines and ignoring these will be a sure recipe for financial
disaster.
“Vehicles bought for investment must either be in mint condition or
you need to be prepared to restore them.
“The vehicle needs to have a certain rarity value, like the Renault
Vel Satis mentioned above. It did not sell in its day and only a few were
produced in Europe for a two year period. As a result, there are few left and
only a handful in South Africa.”
But rarity is not enough, for every model that becomes a classic,
dozens slide into obscurity, bought to be driven by students. To have a crack at
immortality, the car has to have a badge by the great makers, whether they are
German, Italian or Japanese.
He said after rarity and a badge, the history of a car can increase
its value.
Harry Shaw adds two models:
- The Jaguar XJ6 Series 3, designed by Pinninfarina (I think) and built under John Egan’s management. He managed to turn Jag around after their quality went out of the window.
Harry Shaw adds two models:
- The Jaguar XJ6 Series 3, designed by Pinninfarina (I think) and built under John Egan’s management. He managed to turn Jag around after their quality went out of the window.
- The VW Phaeton. This being a grand flop in the Edsel Ford mould but a very good car and also the base for the new Bentleys.
- The BMW 330ci convertible. It having that musical 6 cyl. engine and the last of the 3 series ragtops.
- Any 6cyl Saab sedan or convertible. They don’t make them like that anymore!
- The first of the new Minis could also do well in the future.
Classic car collecting 101
• Good research makes for good investing.
• Study what prices cars are fetching at auctions.
• Do not trust anyone, rather make your own informed decisions
based on your research.
• Never pay more than you think the vehicle is really worth.
• Lastly, buy something you will enjoy driving.
