1971 Ford Capri Perana Replica. Image: Collecting Cars

Demand From Australian Car Collectors and Investors Revs Up

British auction platform Collecting Cars entered the Australian market in January and has seen strong interest from budding Australian car collectors and investors.

Image: Collecting Cars

Australian head of Collecting Cars Richard Fowler, said they have been overwhelmed by the positivity since launch.

“We are seeing great interest in collectors from all walks of life, from all sorts of age brackets and all interest levels,” he said.

The website facilitated the world-record sale of a green 1975 Porshe 930 Turbo for $410,000 in February and has sold 48 cars to date in Australia, to the tune of over $2.2million worth of value.

A recent car to leave the lot is a 1971 Ford Capri Perana Replica which tracked ahead of expectations, with bidding finalised at $70,000.

The Ford was purpose built in Western Australia in 2012 by a racing enthusiast who was well experienced with the Perana cars – tuned Fords built in period by Basil Green Motors in South Africa. This racer already owned a Cologne-bodied Perana, which was the state’s most successful classic tarmac rally car and wanted a narrow-bodied car to run as well.

The car is simply gorgeous to look at, with a bold orange palate with black lines and performance is looked after by the Ford Motorsport 343ci V8 engine producing roughly 500hp.

Fowler said being a competition car will likely see a buyer with a passion for the type of car rather than an investor, but said the car would likely not lose value.

COVID-19 hasn’t slowed the classic car market down, Fowler said in some respects it is helping it along, as buyers want to get enjoyment out of their assets and appreciate the finer things in life.

There is also a strong contingent of investment buyers, according to Fowler, who are looking for a stable investment outside traditional housing and stock options.

“People are waking up to the fact you can make some great returns off classic cars, whether they are in the shed or you drive them,” he said.

The HAGI Index measures the performance in the market of classic cars, and according to Credit Suisse, offered an annualised return of 12 per cent from 2010 to 2020.

A growing market are classic cars from the 1990s and 2000s, according to Fowler.

“We recently sold a 2004 Subaru WRX for $86,000 that had 8km on the dash,” he said.  

With the pandemic and travel restrictions putting a holt on physical auctions, Fowler said buyers have transitioned smoothly to an online buying experience.

“The bidders can organise physical inspections, but we found around 95 per cent of the cars are bought sight unseen,” he said.

Image: Collecting Cars

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