Photo credit: Motortrend.com
So recently as some of you may have noticed the 1% seemed to go crazy. As Michael Ballaban stated here the collector car market is skyrocketing. January is a big month for collector cars and huge sales were made by some of the worlds leading auction houses. What is an average income person to do when their hobby is getting less predictable than the stock market?
Well fret not my fellow petrol heads for there is an answer to this madness. The answer lies in a little event called the 2014 Pebble Beach Concours d'Elegance. To refresh your memory history was made last August when for the first time in decades a post war automobile was crowned Best in Show.
This is needless to say shocking and will set a precedent for future collectors and show winners to come. The 1954 Ferrari 375 mm Scaglietti Coupe is a true masterpiece to behold and it was obvious that it deserved the trophy at the 2014 event. With the collect car world watching the entire game changed. Suddenly a door opened. To win Pebble one no longer needed post war pedigree and a small fortune now all one needed is a small fortune and pedigree.
If you don't believe me that there is a direct correlation between the 2014 Pebble Beach winner and the skyrocketing prices all you need to do is simply look at the evidence:
1976 Ferrari 308 GTB. Hat tip to person-jaaaaaaaaaaaaaaaaag. If you notice the prices begin to skyrocket post Pebble.
This Talbot-Lago is another example.
This Porsche 356 is yet another.
There are of course exceptions to this rule. Looking at the Scottsdale auctions and using Bonhams as an example however, it is becoming increasingly evident that the day of the post war car is here. As Micheal Ballaban stated the wealthy gap and high income baby boomers are playing a large part in the recent collector car spikes. Pebble Beach however cannot be forgotten. One little Ferrari and a few judges have shaken the car collecting culture into a new age.