Another man’s trash is another man’s treasure indeed. A collection of 135 vintage and classic cars was just found in barns located in a property in Preston, Lancashire. Definitely a potentially profitable find given the market of well-preserved and restored vintage cars.
Vintage Treasure Trove
The vintage car was reportedly popular among the greaser youth subculture
The find was reportedly made after the said property was sold to be redeveloped. Since then, the collection of cars has been auctioned off by NCM Auctions. A look at the collection can be likened to a visual history of automobiles as the cars found ranged from models made from the early 1900s up to the 1990s.
And although most of the vehicles in the collection are from British and French manufacturers, there were also some American-made cars that found their way into the barn in the United Kingdom.
Some of these are a vintage Dodge and a 1923 Ford T-Bucket hot rod. In the modern classic car market, the mentioned models can fetch a price tag of $20,000 to even as much as $65,000 depending on the condition. It’s worth noting though that the cars found in the barn were sold off as is without warranty or inspection.
The cars can also be used as ‘donor cars’ to complete other cars in better condition but are missing some parts
Some of the models recovered were presumed to have been abandoned for many years, even decades, in the property. Most of the would certainly need major repairs and overhauls to get them back in top shape once again. But gearheads with enough knowledge of the niche can probably still find something worth buying in the 135-piece collection, despite the vehicles’ condition.
People wanting to take a piece from the treasure find would be disappointed to know that the auction has ran its course. They can hold out hope for the future, though. After all, similar collections have been found in other places over the past years.
Classic Car Frenzy
Though prices are falling, Goodson maintains that classic cars still outperform other luxury goods as a form of investment
The clamor for the find reflects the belief that vintage and classic cars are a safe investment for people’s money. Some financial publications have actually recommended readers to add a classic car from Ferrari or Porsche in their portfolio of fine art and wine. However, other experts warn that this popularity is currently already seeing a decline.
As Andy Goodson, a marketing director at a company that focuses on ensuring classic cars, observed, that more people are now looking to sell their cars compared to those who are willing to buy them.
Still, the price of the best classic cars in the market remain to rise, further widening the gap between the cream of the crop and the rest. But the overall price of the vehicles reportedly continues to decline by around 10% annually.