Classic car collectors like limited edition cars and have themes, such as post-war Aston Martins
Simon Sproule, director of global marketing at Aston Martin, also says authenticity, provenance and rarity are the qualities that make the prices go up.
Who are the big car buyers?
Historically, car collectors were primarily in the United States, Europe and Japan. Today, those markets are still very important but now the Middle East, South East Asia and China are seeing an increase in the number of supercar and classic car collectors.
How do UHNW clients structure their car collections?
Many collectors like to have one theme, such as post-war Aston Martin. In recent years, manufacturers have been launching ever more advanced vehicles, so many collectors will seek to own the latest and the most powerful supercars. Limited edition cars have particular appeal.
How does the supercar industry embrace new technology?
Many new technologies first debut in modern supercars as the price point allows for these features to be commercially viable. Materials for supercar construction can range from metal alloys, carbon fibre, composites and construction methods similar to aerospace, such as bonding different materials together, as opposed to a traditional welded steel construction. We also use advanced powertrain technologies that allow the production of engines normally only used for racing cars.
How many cars do your UHNW clients have on average?
A typical collection, where the cars also form an investment portfolio, would certainly be more than ten cars on average, but many clients have dozens of vehicles. For personal or regular use, a garage of five or more cars is a standard.
Are supercars a wise investment for UHNWIs?
As an asset class, supercars, including the classic car market, have been a very sound investments so far. Authenticity, provenance and rarity are the qualities that make the price go up. Sometimes, there is a waiting list for certain models, and a handful of investors will order then sell immediately. However, most collectors will seek to build a collection they can appreciate, with a long-term value.
What trends do you see?
More and more collectors want what is not available as a standard market offering. This means more bespoke, personalised vehicles. This can range from a unique colour and trim combination to the creation of an entire vehicle, built at the request of a specific customer. Often, these vehicles are never shown in public nor discussed by the manufacturer.