Passion for owning performance, exotic and classic cars has been gaining speed all across the nation. The market has been stoked by Baby Boomers: 59% of the roughly five million cars owned in the United States belong to Baby Boomers and “autonomous vehicles of the future are closer than one can imagine. The unfortunate reality is that at some point, the only place to enjoy true horsepower from behind the wheel will be in a private setting such as this…..
As options for retirement spending and investment expand to meet the needs of the Motorsports Community, new & private race tracks have been built. Car and Driver noted that golf course construction has been on the decline while finding a race track where the average driver can take his car out are “few and far between.”
Private tracks offer ways for all performance, exotic, classic, and specialty car owners to enjoy their investments.
- Classic cars have almost 500% return over the past decade, outpacing art and wine by more than 100%, according to the Knight Frank Luxury Index.
- According to Luxury Daily (March 2016), classic cars hold value in the same way that real estate does in tumultuous economies.
- Steve Linden, co-founder and fund manager at Chrome Strategies Investments, “I’ve never seen collector cars recognized so universally as alternate assets and works of art.”
- “It was remarkable during the recession to see the whole world on fire and collector cars—even in the worst categories—were holding their own or even continuing to increase,” observes McKeel Hagerty, CEO of Hagerty Insurance Agency. “People buy a lot of the best classic cars for the purpose of using them for something.”