ferrari gto or a mutual fund pick the gto
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Ferrari GTO or a mutual fund Pick the GTO

Arab Today, arab today

Arab Today, arab today Ferrari GTO or a mutual fund Pick the GTO

London - Arabstoday

As the Dow Jones Industrial Average has been riding high above the 13,000 mark recently, many folks have once again been feeling good about their investments. And even though the stock market has been doing well, a panel of experts gathered at the Amelia Island Concours d\'Elegance pointed out some cars that, from an investment standpoint, will outperform even your high-flying Apple stock. The panel was convened by Hagerty Insurance and included Ferrari restorer and historian Michael Sheehan, Shelby expert Colin Comer, and Hagerty Price Guide publisher and Autoweek contributor Dave Kinney. McKeel Hagerty, CEO of the insurance company bearing his name, moderated the discussion. The panel members limited their discussion to three types of cars--Enzo-era Ferraris, Shelby Cobras and Mercedes-Benz Gullwings--and for most, the entry price to join the club would only be possible if the Powerball numbers line up properly. But it\'s nice to dream. Examples of all three cars were on the show field at the concours. \"There are many factors that can make a classic car desirable in select markets. However, what gives an elite group of classic cars absolute global appeal is their ability to speak to all the factors,\" Hagerty said. \"For example, they were headliners and race winners when new, had low production numbers, are currently eligible for the world\'s most famous vintage road rallies and exhibit timeless design that has influenced future generations of automotive design.\" Only 39 Ferrari GTOs were produced between 1962 and 1964 and now sell for $30 million-plus, putting them among the most expensive cars in the world. During the last five years, Hagerty says the market value of GTOs has increased by more than 100 percent, outperforming most standard indexes except for gold. Ferrari collectors consider the 250 GTO the Holy Grail because the car looks and performs flawlessly and it has a strong competition history. Only six examples of the Shelby Daytona Cobra were produced by Carroll Shelby, and all still exist. The car is valued now in the $10 million range. \"This is the American version of the Ferrari GTO and serves as the final iteration of the Cobra series,\" Comer said. \"All Cobras in general are comparatively easy to restore, and examples with the original drivetrain can make as much as a 30 percent difference in value.\" The Mercedes-Benz 300SL Gullwing is the bargain of the group, with an alloy-bodied car recently selling for $3.5 million. Many classic-car experts argue that the 300SL Gullwing has the most universal global appeal and is considered a staple in large, diverse car collections. \"The Gullwing had excellent build quality when new. Just about every part is still available through Mercedes, and they are very forgiving to drive,\" Kinney said. \"This is the ultimate blue chip classic that has a market on every continent outside of Antarctica.\" The panelists made a point to remind the audience that there is no question that certain cars hold their value and can be safe forms of tangible investments. But they also cautioned that car enthusiasts and investors should always buy classic cars for enjoyment first and consider the value increases as a secondary benefit. \"At the end of the day, you can\'t take your stock portfolio out for a nice weekend cruise like you can in your classic car,\" Hagerty concluded.

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