9 Collectible Cars Good for Investors

Like wine and art, classic cars are a finite tangible resource often produced in overseas markets that, as investments, can appreciate in value without a correlation to stocks and bonds. Unlike art, you don’t have to compete with billionaires to pick up a coveted — and often beautiful — asset in the car market.

The Historic Automobile Group International (HAGI) tracks vintage collectibles with its HAGI Top Index and subindexes. The index was up near-14 percent through the first three quarters of 2015 (the index hit an all-time high in September) and is up more than 500 percent in the past decade. Many of the fastest-appreciating cars are sporty models from Europe.

But which European sports cars make the best investments? We asked HAGI founder Dietrich Hatlapa, specialty-car insurer Hagerty CEO McKeel Hagerty, and RM Sotheby’s car specialist David Swig to provide a range of options — from as low as $10,000 to as much as half a million dollars, starting with the most affordable.

Mercedes-Benz SL600

It’s important to note that “collectible cars are passion investments,” said HAGI founder Hatlapa. “There’s non-financial value in a classic car — pride of ownership, social recognition, fun, transportation, meeting others at car events — that should ideally outweigh other concerns. If you buy something that makes you happy, you can’t really go wrong.”

With that out of the way, Hagerty noted that the 1990–2001 SL featured the same hewn-from-granite build quality of earlier Mercedes, but with modernized looks and features.

“These are extremely well made, with great engines,” he said. “And an SL that’s been well cared for will drive like a modern car, even if it’s more than 20 years old.”

The SL market bottomed out around 2008–2009, Hagerty said, but it has been rising for the past year. Collectors should check service records before making a purchase for these complex cars that need regular upkeep. Sales prices show the wisdom of this: While poor-condition SLs can be had for less than $8,000, ones in excellent condition go for more than $18,000.

Average price for a 1990 Mercedes-Benz 500SL: $10,950

Photo: Tomislav Mavrovic

Volvo P1800S

This elegant sports car is the only Swedish car on our list (sorry Saab), and also the oldest. It was manufactured from 1961 to 1973.

Simple and overbuilt, the P1800 is famously long-lived — one native New Yorker has logged a world-record 3-million-plus miles in his 1966 P1800. Roger Moore fought villains with the help of a white P1800 in six seasons of “The Saint.”

“A lot of guys here in San Francisco like them as a stylish older car you can still drive every day,” Swig said. “The P1800 is a good entry-level classic.”

Photo: Anik Shrestha | Flickr

Average price of a 1962 Volvo P1800: $11,364

Porsche 911

Porsche started producing the 911 in 1964, and there have been a lot of variants of this iconic sports car over the years. The company currently lists 21 different models of 911 for sale in the U.S. As an investment, though, the various models sold here from 1999–2005 (designated 996) might make a good bet. These models were criticized for their styling and for Porsche’s switch from air- to water-cooled engines, but they’ll blast to 60 mph in less than 5 seconds, top out at about 170 mph and handle precisely.

“There’s no such thing as a hopeless Porsche,” Hagerty said. “Porsche has appreciated more than any other manufacturer in the last three years. Any 911 that people can afford is a good bet, so the 996 is a deal.”

Average price for Porsche 911: Hagerty does not publish prices for the 996, but auto site Edmunds lists 1999 year model 911s for sale with prices clustered just above $20,000 for sales within 500 miles of Chicago, Houston, Los Angeles and New York.

Photo: Curt Smith | Flickr

Alfa Romeo GTV 2000

This stylish 2+2 sport coupe handled as beautifully as it looked, and featured four-wheel disc brakes and a top speed of about 120 mph. The Alfa Romeo was produced in Italy in a variety of configurations (and names) from 1964–1977.

“You see a huge appreciation in prices for early Porsche 911s, and the GTV is every bit as good to drive as those, so I expect to see these climb in price as well,” said RM Sotheby’s car specialist David Swig.