Vintage Cars

How to Outsmart the Slump in the Classic Car Market

Recent auctions of vintage automobiles have shown a softening of prices in the blue chip category. But there are still some chances to make a buck on a beautiful car.

A 1958 Lancia Aurelia B20 GT is displayed among classics up for auction as part of the Goodwood Festival of Speed.

Photographer: Carol Sachs for Bloomberg Businessweek

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By Elisabeth Behrmann and Benjamin D Katz

July 13, 2017 at 5:37 PM UTC

This article is part of the July 17, 2017 issue of businessweek.

Bernie Ecclestone, the flamboyant former owner of the Formula One racing franchise, has simple advice for those who want to make money in classic cars: “Buy cheap.”

Historically, that hasn’t been easy; big-ticket vintage cars such as Ferraris and Bentleys have surged in value over the past five years, in part because of an ultraloose monetary policy that’s encouraged speculators to look into niche asset classes. But this year the market shows signs of slipping. Lackluster demand was evident in June at an auction held at the Goodwood Festival of Speed, the annual celebration of chrome and Castrol held at a sprawling British estate.