The Collector’s Corner
How to Start a Car Collection with a $50,000 Budget.
With a $50,000 budget, you can build a fantastic and diverse collection. I would start with a fun, reliable “driver”—a Mazda Miata or a Porsche Boxster for around $20,000. Next, I’d add a “future classic”—an underrated car from the 90s, like a clean Mitsubishi 3000GT VR-4 or a C4 Corvette ZR-1, for about $20,000. Finally, with the remaining $10,000, I’d buy a unique and quirky classic, like a vintage Saab 900 Turbo or a Citroën 2CV. This creates a collection with a car for every mood: fun, investment, and character.
The Most Important Factor for a Car’s Collectibility: Rarity, History, or Beauty?
I asked a famous collector this question. He said that while beauty is subjective and rarity is important, the most crucial factor is a car’s “history” or “provenance.” He showed me two identical vintage Ferraris. One was worth $5 million. The other, which had been raced at Le Mans by a famous driver and had the documentation to prove it, was worth $15 million. That extra $10 million was purely for its story. A car with a significant, documented history becomes an irreplaceable artifact, not just a rare object.
The Best “First Classic” Car for a New Collector.
For a first classic, I always recommend an MGB. It’s the perfect starter car. They are affordable to buy, incredibly simple to work on, and have a massive and supportive community. Parts are cheap and readily available from multiple suppliers; you can essentially rebuild the entire car from a catalog. It provides the quintessential British roadster experience—the wind in your hair, the smell of gasoline—but without the intimidating complexity or high running costs of a more exotic classic. It’s the ideal car to learn the joys and challenges of classic ownership.
The “Garage Mahal”: A Tour of the Most Insane Private Car Collections.
I had the chance to tour a “Garage Mahal.” It wasn’t a garage; it was a private museum. The cars were parked on a polished concrete floor under perfect, museum-quality lighting. There was a dedicated lounge area with leather couches and a bar overlooking the collection. A full-time mechanic had his own workshop and lift in a separate bay. The entire facility was climate-controlled and had a state-of-the-art security system. It was a purpose-built sanctuary designed not just to store cars, but to celebrate them as works of art.
How to Insure a Multi-Million Dollar Car Collection.
When a client’s car collection exceeded a certain value, his standard collector car policy was no longer sufficient. He had to work with a specialty insurance broker from a firm like Chubb or PURE that caters to high-net-worth individuals. The process involved a detailed appraisal of every car, a security assessment of his garage, and a collection-wide “agreed value” policy. This single policy covers all his cars, his automotive art, and even his spare parts, providing comprehensive protection for his entire automotive portfolio.
The Best Way to Store and Preserve Your Investment Cars.
A collector showed me how he preserves his most valuable cars. They are kept in a climate-controlled garage with a stable temperature and humidity to protect the leather and rubber. Each car is connected to a “battery tender” to keep the battery healthy. He puts the cars on jack stands to take the weight off the tires and prevent flat spots. And he uses a high-quality, breathable car cover to protect from dust but prevent moisture from being trapped. This meticulous process is essential for preserving the condition and value of an investment-grade car.
The “Barn Find” Myth vs. the Reality of a Full Restoration.
The myth of a “barn find” is that you’ll find a dusty but perfect classic for a cheap price. My friend bought a “barn find” Porsche. The reality was a nightmare. While the car was cheap to buy, every single rubber component—hoses, seals, bushings—had dried out and needed to be replaced. The engine was seized, the fuel system was full of rust, and rodents had chewed through the wiring. The “cheap” barn find ended up costing him more in restoration than it would have cost to buy a well-maintained, running example.
The Most Important Documents for Proving a Car’s “Provenance.”
When authenticating a valuable classic car, the documents are everything. The most important is the original factory “build sheet” or window sticker, which proves its original configuration. A complete, unbroken chain of ownership, documented through old titles and bills of sale, is also crucial. For a race car, period photos of the car on the track, race entry logs, and driver testimonials are the “holy grail” of provenance. These documents are the car’s birth certificate and biography, and they are essential for establishing its value.
The Cars That Are Guaranteed to Be Future Classics.
While there’s no crystal ball, some modern cars are almost guaranteed to be future classics. The key indicators are a limited production run, a connection to motorsport, and an analog driving experience. The Porsche Cayman GT4, with its naturally aspirated engine and manual transmission, is a prime example. The Alfa Romeo 4C, with its full carbon fiber monocoque chassis, is another. These are special, driver-focused cars that represent the “end of an era,” which will make them incredibly desirable to collectors in the future.
The Most Overrated “Collector” Cars That Aren’t Good Investments.
Some cars are famous “collector” cars that are actually poor investments. The DeLorean DMC-12 is a great example. It’s an icon, but so many were produced and preserved that there is a large supply, which keeps prices relatively stagnant. Another is the Plymouth Prowler. It looks like a cool, retro hot rod, but its weak V6 engine makes it undesirable to serious performance enthusiasts. These cars are fun novelties, but they lack the rarity or performance pedigree to be a good financial investment.
The Rise of the “Youngtimer” Classics from the 80s and 90s.
The classic car market is seeing a huge surge in interest for “youngtimer” classics from the 1980s and 1990s. These are the cars that the current generation of 40- and 50-year-old collectors had as posters on their walls as kids. Cars like the Ferrari Testarossa, the E30 BMW M3, and the Toyota Supra Turbo are now seeing massive price increases. This is a classic generational shift. As the “kids” who grew up idolizing these cars now have the disposable income, they are buying the heroes of their youth.
How to Spot a Fake “Limited Edition” Model.
I was looking at a “limited edition” Porsche that was priced suspiciously low. I called a marque expert. He told me to check the option code sticker under the hood. Every factory option has a specific three-digit code. We found that the sticker on this car was missing the specific code for the “limited edition” package. Someone had simply taken a base model car and added the badges and trim to create a fake. Verifying the original option codes is the only way to be sure.
The Most Famous Car Collectors in the World (Jay Leno, Jerry Seinfeld).
Jay Leno and Jerry Seinfeld are two of the most famous car collectors, but with very different philosophies. Jay Leno’s collection is massive and eclectic. He loves cars with interesting engineering or historical stories, from steam-powered cars to jet bikes. Jerry Seinfeld is a Porsche purist. His collection is a highly curated, focused celebration of the Porsche brand, featuring some of the rarest and most significant models in the company’s history. Leno is a historian of the machine; Seinfeld is a connoisseur of a single marque.
The Best Car Auctions (Mecum, Barrett-Jackson, RM Sotheby’s) for Different Budgets.
Different auctions serve different markets. Mecum is a huge, high-volume auction, great for finding classic American muscle cars and a wide variety of cars at all price points. Barrett-Jackson is famous for its televised, high-energy auctions, often featuring “restomods” and celebrity-owned cars, but with a “no reserve” format. For the most valuable, investment-grade cars, RM Sotheby’s and Gooding & Company are the top tier. They offer a curated, museum-quality selection of cars and attract the world’s most serious collectors.
The Most Common Mistakes New Collectors Make.
The most common mistake a new collector makes is buying with their heart, not their head. They fall in love with a beautiful car without getting a professional pre-purchase inspection, only to discover it’s full of hidden rust or mechanical problems. Another mistake is buying a car that is “too perfect.” They buy a flawless, concours-level car and are then too terrified to drive and enjoy it. The best first classic is a good “driver-quality” car that you can use without constant worry.
The Best “Analog” Cars to Collect Before They’re Unaffordable.
The window to buy a great, analog sports car for a reasonable price is closing fast. The first-generation Acura NSX, with its beautiful design and reliable Honda engineering, is a prime candidate. The Ferrari F355 with a gated manual shifter is another; it’s considered by many to be the last, beautiful, classic-era Ferrari. And the Porsche 993, the last of the air-cooled 911s, is a “blue-chip” classic whose value continues to climb. These cars offer a pure, tactile driving experience that is becoming increasingly rare and valuable.
The Most Desirable “First of” and “Last of” Models.
In the collecting world, the “first of” and “last of” a model are always the most desirable. The 1964.5 Ford Mustang, the very first production model, is a holy grail for collectors. Similarly, the “last of” a generation holds special value. The Lamborghini Aventador Ultimae, the final version of their naturally aspirated V12 supercar, sold out instantly. These cars represent the beginning or the end of a significant automotive era, which gives them a historical importance that makes them highly sought-after.
How a Single Movie Appearance Can Make a Car a Collectible.
The 1977 Pontiac Trans Am was a popular car. But after it starred as the “Bandit’s” car in the movie Smokey and the Bandit, it became a cultural icon. The movie’s success created a massive surge in demand for black Trans Ams. Another example is the Aston Martin DB5. It was a beautiful car, but its role as James Bond’s gadget-laden vehicle in Goldfinger transformed it into one of the most famous and desirable cars in the world. A single, iconic movie role can cement a car’s place in history forever.
The Most Important Factor in a Car’s Condition: “Originality” vs. “Restored.”
In the high-end collecting world, an unrestored, original car is often more valuable than one that has been perfectly restored. I saw two Ferrari Daytonas at an auction. One was perfectly repainted and re-trimmed. The other had its original, slightly faded paint and worn leather seats. The second car, with its “patina” and originality, sold for significantly more. A restoration, no matter how good, erases the car’s original history. For top-tier collectors, an untouched, original “survivor” is the ultimate prize.
The Best Car Lifts and Storage Solutions for a Collector’s Garage.
As my collection grew, my garage space did not. The best solution was a four-post car lift. It allowed me to store two cars in a single bay, effectively doubling my garage space. A four-post lift is also great for long-term storage, as you can take the weight off the car’s tires. For moving cars around in a tight space, a set of “wheel dollies” is another essential tool. You can place a car on the dollies and then easily push it sideways into a corner.
The Most Interesting “One-of-One” Cars Ever Built.
Some collectors commission a manufacturer to build a completely unique, “one-of-one” car. The Ferrari P4/5, commissioned by collector James Glickenhaus, is a famous example. He bought a new Ferrari Enzo and then had the legendary design house Pininfarina re-body it with a custom design inspired by a 1960s Ferrari race car. The result is a modern supercar with a completely unique, retro-styled body. It’s the ultimate expression of automotive personalization, a true one-of-a-kind creation.
The Best Way to Transport a Collector Car Across the Country.
When I had to move my classic car across the country, I learned that you should never use an open car transporter. The risk of damage from road debris is too high. The only safe way to transport a valuable car is with a reputable, fully insured, enclosed carrier. The car is loaded into a sealed trailer, protecting it from the elements. It costs more, but for a collector car, it is the only way to ensure it arrives in the same condition it left in.
The Most Important Pre-Purchase Inspection (PPI) Checks for a Classic Car.
When I hire a mechanic to do a PPI on a classic car, I have him focus on the “big three.” First, and most importantly, is rust. He inspects the frame, floor pans, and all the common trouble spots. A rusty car is a money pit. Second is the engine. He does a compression test to check the health of the engine’s internals. Third is a thorough check of the car’s electrical system, as old wiring can be a major source of frustrating problems. Shiny paint is nice, but a solid, rust-free structure is everything.
The Most Unlikely Cars That Have Become Collectible.
No one thought a 1990s pickup truck would be a collectible. But today, a clean, original Ford F-150 SVT Lightning is a highly sought-after vehicle. Another unlikely collectible is the first-generation Honda Insight. It was a quirky, aluminum-bodied hybrid. But its unique design and historical significance as one of the first hybrids have made it desirable to collectors. This proves that even humble, unlikely cars can become collectible if they are rare, significant, or capture the spirit of a specific era.
The Best Car Trusts and Legal Structures for a Collection.
As a car collection grows in value, it becomes a significant asset. A collector I know has placed his entire collection into a “revocable living trust.” This legal structure offers several advantages. It allows the collection to pass to his heirs without going through the public and often lengthy probate court process. It can also offer a layer of liability protection, separating the cars from his other personal assets. For any serious collection, a proper legal structure is an essential part of responsible ownership.
The Most Famous “Lost and Found” Collector Car Stories.
The most famous “lost and found” story is that of the original Ford Mustang from the movie Bullitt. After filming, the car was sold and disappeared for nearly 40 years. It was owned by a quiet family who used it as their daily driver, completely unaware of its iconic status. In 2018, it was finally revealed to the public, still in its original, unrestored condition. The discovery of this “holy grail” of movie cars was a massive event in the car world.
The Best Investment You Can Make in Your Collection (Hint: It’s Not a Car).
I asked a major collector what the best investment he ever made was. He didn’t point to a car. He pointed to his library. He had amassed a huge collection of factory service manuals, historical books, and old auction catalogs. He said this knowledge is more valuable than any single car. It allows him to make smarter purchasing decisions, to properly care for his vehicles, and to understand the history and context of his collection. The best investment is not in more metal, but in more knowledge.
The Most Volatile and Risky Segments of the Collector Car Market.
The riskiest part of the collector market right now is the “modern classic” segment from the late 90s and early 2000s. Cars like the Ferrari 360 and the Porsche 996 Turbo have seen massive price increases recently. This market is volatile because it is driven by a new generation of buyers. It’s unclear if these prices are a sustainable new normal or a “bubble” that could pop, leaving recent buyers with a car that is worth significantly less than they paid for it.
The Best Car Events for Networking with Other Collectors.
For a serious collector, the best networking event is not a public car show. It’s a high-end concours d’elegance, like the one at Pebble Beach or Amelia Island. These events attract the world’s most prominent collectors. The atmosphere is more like a private garden party than a car show. Another great option is a high-end classic car rally, like the Colorado Grand. These multi-day driving events create a fantastic, informal environment to build genuine friendships with other passionate, like-minded collectors.
The “Numbers Matching” Obsession: Does It Really Matter?
In the classic American muscle car world, “numbers matching”—meaning the car still has its original engine, transmission, and rear axle—is an obsession. For a Corvette or a Hemi Cuda, having the original, numbers-matching engine can double the car’s value. For other types of cars, like a classic Porsche, it is less important. The Porsche community often values a well-maintained car with a period-correct but non-original engine more than a numbers-matching car in poor condition. It really depends on the specific car and its community.
The Most Beautiful and Historic Race Cars to Collect.
The ultimate “blue chip” collector race car is the Ferrari 250 GTO. It’s both incredibly beautiful and has a legendary racing history. Another is the Porsche 917, the car that gave Porsche its first overall win at Le Mans and starred in the Steve McQueen movie Le Mans. And the Jaguar D-Type, with its iconic fin and flowing lines, is another beautiful and historically significant race car. These cars represent the perfect fusion of breathtaking design and dominant motorsport pedigree.
The Best Way to Authenticate a Signature on a Car.
A friend bought a Shelby Cobra with what was claimed to be Carroll Shelby’s signature on the dashboard. To authenticate it, he hired a professional autograph authenticator. The expert compared the signature to known, verified examples of Shelby’s signature, looking at the slant, the pressure, and the specific formation of the letters. He also looked at the age of the ink to ensure it was period-correct. This forensic level of analysis is the only way to be certain that a valuable signature is genuine.
The Most Important Books for Any Serious Car Collector.
Every serious collector should have a few key books. The “Standard Catalog” for their specific marque (e.g., “The Standard Catalog of Ferrari”) is an essential reference for production numbers and model changes. A book on the history of the specific design house that styled their car, like Pininfarina or Bertone, provides crucial context. Finally, a copy of the original factory service manual for their car is the most important book of all, providing the technical information needed for proper maintenance.
The Most Important Factor for a Car’s Value: Low Mileage or Excellent Maintenance?
I was looking at two identical classic cars. One had very low mileage but had been sitting in a garage for years with no service records. The other had higher mileage but came with a thick binder of every service receipt. I chose the higher-mileage car. A car with low mileage that has been neglected can be a mechanical nightmare of dried seals and old fluids. A well-maintained car, even with higher mileage, is a much safer and often more valuable purchase. Consistent, documented maintenance is always more important than a low number on the odometer.
The Most Interesting “Themed” Collections.
Some of the most interesting car collections have a specific theme. I know a collector who only buys cars that are painted silver. Another has a collection of only “one-hit wonder” cars from defunct automakers. The most interesting I’ve seen was a collection dedicated to “famous movie cars,” which included a DeLorean from Back to the Future and a Pontiac Trans Am from Smokey and the Bandit. A theme gives a collection a focus and a story that makes it more interesting than just a random assortment of expensive cars.
The Most Common Scams in the High-End Collector World.
In the high-end collector world, the scams are sophisticated. One common scam is the “re-stamped” engine, where a fake serial number is stamped onto a non-original engine block to make a car appear “numbers-matching.” Another is the creation of a “tribute” car, where a common base model is modified to look like a much rarer and more valuable version. The most dangerous scam is the falsification of a car’s “provenance” or racing history. These scams can only be uncovered by a deep, expert-level inspection.
The Best Way to Buy a Car at Auction Without Getting “Auction Fever.”
Auctions are exciting, and it’s easy to get caught up in the moment. The best way to avoid “auction fever” is to be disciplined. Before the auction, I thoroughly inspect the car I’m interested in and set a firm, absolute maximum price I am willing to bid. I write this number down. During the auction, I do not let myself go a single dollar over that number, no matter what. It requires discipline, but it prevents me from making an emotional and expensive mistake in the heat of the moment.
The Most Desirable and Collectible Car Colors.
While common colors are safe for a normal used car, in the collector world, a rare and desirable factory color can add a huge premium. For a classic Ferrari, a unique color like a dark green or blue can be worth much more than a standard red one. For a vintage Porsche 911, a bold factory color like “Signal Yellow” or “Bahama Blue” is highly sought-after. For collectors, a rare, period-correct, and attractive color makes an already special car even more unique and valuable.
The Most Important Automotive Designers to Collect.
Certain designers have a “Midas touch.” A car designed by Giorgetto Giugiaro, who penned the Maserati Ghibli and the Lotus Esprit, is always a good bet. Marcello Gandini, the genius behind the Lamborghini Miura and Countach, is another legend. And Battista “Pinin” Farina and his firm, Pininfarina, are responsible for designing the vast majority of Ferrari’s most beautiful creations. A car designed by one of these Italian masters has an artistic pedigree that adds to its collectibility.
The Best “Driver’s Grade” Classics You Can Enjoy Without Worry.
I wanted a classic car that I could actually drive and not worry about. I bought a “driver’s grade” Triumph TR6. It’s not a perfect, concours-level show car. It has a few small paint chips and some non-original parts. But it’s mechanically sound and rust-free. Because it’s not a priceless museum piece, I’m not afraid to park it at the grocery store or take it on a long road trip. A “driver’s grade” classic offers all the fun and character of a vintage car, without the stress of owning a flawless investment.
The Most Interesting Cars Owned by Celebrities.
Some celebrities have incredible taste in cars. Steve McQueen, the “King of Cool,” owned a Porsche 911S and a Ferrari 250 GT Lusso. His cars were an extension of his effortlessly cool persona. Ralph Lauren has one of the most incredible collections in the world, focused on cars that represent the pinnacle of automotive design, like a Bugatti Atlantic. These collections show a deep, genuine passion for cars as art, not just as status symbols.
The Best Way to Track the Value of Your Collection.
To track the value of my small collection, I use several tools. I have a subscription to the Hagerty “Price Guide,” which provides real-time valuation data for thousands of classic cars. I also have saved searches on auction sites like “Bring a Trailer” to monitor the real-world sale prices of cars similar to mine. This combination of expert data and real-time auction results gives me a clear and accurate picture of my collection’s current market value.
The Most Underrated and Overlooked Collector Cars Right Now.
The most underrated collector cars are often the “unloved” models from great brands. The Porsche 944 is a fantastic front-engine sports car that is still very affordable compared to its 911 sibling. The Jaguar XJ-S is another. It’s a beautiful, V12-powered grand tourer that was long overshadowed by the E-Type. These cars offer great engineering and style from a prestigious brand for a fraction of the price of their more popular counterparts, making them fantastic, overlooked opportunities for a new collector.
The Most Emotional Aspect of Collecting: The Stories Behind the Cars.
The most emotional part of my collection is not the cars themselves, but their stories. I own a car that was previously owned by a close friend who passed away. Every time I drive it, I feel a connection to him. I have another car that I bought as a wreck and spent years restoring with my own hands. Its story is my story. The value of a collection is not in the metal; it’s in the human stories of previous owners, the memories created, and the personal journeys that are intertwined with each car.
The Most Important Question to Ask Before Buying Any Collector Car.
Before I buy any classic car, I ask myself one important question: “If this car’s value dropped to zero tomorrow, would I still be happy to own it?” If the answer is yes, then I know I am buying it for the right reasons—because I love its design, its history, and the way it makes me feel. If the answer is no, then I know I am buying it purely as a financial investment, which is a much riskier and less satisfying way to participate in this hobby.
The Most Successful Car Collectors Who Started with Nothing.
The story of Dr. Frederick Simeone is incredibly inspiring. He was a neurosurgeon who, starting with a small budget, began collecting cars with a specific focus: cars with a significant racing history. He didn’t just buy shiny cars; he bought cars with stories. Over a lifetime, he amassed one of the most important collections of racing sports cars in the world, all driven by a deep, academic passion. It’s a powerful story of how a focused, knowledgeable collector can start with nothing and build a world-class collection.
The Best “Exit Strategy” for Your Collection.
A wise collector once told me that you need an “exit strategy” for your collection from day one. He had meticulously documented every car and had written clear instructions in his will. Some cars were to be sold at a specific auction house to provide for his family. Others were to be donated to a specific museum to ensure their preservation and public enjoyment. A good exit strategy ensures that the collection you spent a lifetime building is handled according to your wishes and that its legacy will continue.
The Most Important Car Clubs and Registers for Collectors.
For a serious collector, joining the official club or “register” for your marque is essential. The Porsche Club of America (PCA) or the Ferrari Club of America (FCA) are great examples. These clubs provide access to a community of experts, historical information, and events. More importantly, for a rare car, being listed in the official register can authenticate its history and add significantly to its value. These clubs are the keepers of a brand’s history and an invaluable resource for any owner.
The Most Prestigious Concours d’Elegance Events in the World.
While there are many car shows, a few “Concours d’Elegance” events are in a class of their own. The most prestigious is the Pebble Beach Concours d’Elegance in California. It is the “Super Bowl” of the car world. Winning “Best of Show” at Pebble Beach can add millions to a car’s value. Other top-tier events include the Concorso d’Eleganza Villa d’Este on the shores of Lake Como in Italy, and the Amelia Island Concours in Florida. These are not just car shows; they are world-class celebrations of automotive art and history.
The One Car That Will Complete Any Collection.
If there is one car that could be considered the “centerpiece” of any great collection, it is the McLaren F1. It is a car that represents a singular moment of engineering perfection. It was the fastest car in the world for over a decade. It has a unique, three-seat, central driving position. It has a naturally aspirated BMW V12 engine. It is both an engineering masterpiece and a beautiful, timeless design. It is the one car that is universally respected and desired by all collectors.