Why you should consider classic car restoration as an alternative investment | Motoring | Drive – Luxury London
veryone at the 1961 Geneva Motor Show seemed to agree. The car that had just been unveiled transcended the automotive industry. It was more than a mode of transport. It was the work associated with art.
The particular launch of the Jaguar E-type has become folkloric, with tales of journalists falling over each other to see the sensation for themselves, and one car’s last-minute, overnight dash from Coventry to Switzerland becoming legendary (Jaguar had taken only one model in order to Geneva. Realising the extent of demand, they ordered another to be driven through the night. It made the journey in a good astonishing 11 hours, averaging a speed of 68mph). The E-Type redefined car design, Enzo Ferrari reportedly referring to the particular roadster version as “the most beautiful vehicle in the world. ”
This year marked the 60 th anniversary associated with the quintessential British sports car, and thanks to specialist insurers and restorers, like Footman James and London-based Classic Investments, new generations of enthusiasts are discovering that the joy associated with ownership extends far beyond potential financial reward. Yes, big gains in recent years have made halo cars like the E-type a bankable asset, but renovating, owning plus driving the classic car provides the particular kind of pleasure you just don’t get from investing in stocks and shares.
“It’s about giving a special vehicle a second chance, ” says Agris Alksnis, founder of Classic Investments, who advises his customers to invest with both their heads and their hearts. “Not every car is deserving of a 2nd life but the ones we restore are proven masterpieces of a given era – an era defined by grace, flawless design and incredible stories. You get to resurrect these treasures from the ashes. ”
Classic Investments renovates vintage cars in order to concours standard from its workshops in London. The company’s internal team of craftspeople – including welding and body experts, traditional panel beaters, paint specialists, coach trimmers, mechanical technicians, chemists plus electricians – work on every nut and bolt, handling complete repair work, as well because subtle modernisation. All restoration is carried out on-site, including re-chroming, reupholstering plus restoring seats and interior trim.
Recently, Classic Opportunities renovated the 1966 Jaguar E-type, among only 1, 583 right-hand-drive Series one 4. 2 coupes actually built. Bought new simply by a U. S. army sergeant serving in West Germany, it was wrecked in 1968 and then parked – meaning that will the 24, 555 miles on the odometer are, amazingly, accurate. After Classic Investments’ work, the particular car must rank as one of the most meticulously finished E-Types in existence.
“This car was the essential time-capsule project, ” says Alksnis. “It was so well-preserved that it retained lots associated with parts and components that are typically replaced, dissolved, or just absent after every-day driving. As we pay attention to all minor details within order in order to get the car to authentic factory concours standard, it’s invaluable to have such a complete package. There are plenty of components you can’t buy anymore – once they’re gone, they may gone. ”
“The Jaguar E-type is a perennial favourite, plus rightly therefore – it is in our top 10 of most-insured models, ” explains David Bond, Managing Director of Footman James. “It retains the special place in many enthusiasts’ hearts and so we know from speaking with our own clients how dedicated owners can be. ”
“The E-type market will always be solid and stable, but for some its true value may have been overlooked over the past few years. However, we’re seeing renewed interest, and milestones like the sixty th anniversary associated with that famous debut have served to remind and reinforced its iconic status. ”
Finished in contemporary opalescent gunmetal grey, with a red, Italian leather interior, the car refurbished by Classic Investments manages that difficult task of looking both cutting-edge and remaining faithful to the original vision of William Heynes, then-Head of Design at Jaguar. “This is one of simply six vehicle designs recognised by the particular New York City Museum of Modern Art as a permanent addition to the collection, ” explains Agris. “You can’t be heavy handed when it comes to working with these vehicles, and small mistakes can leave the finished task wide from the mark. ”
As well as recovery work, Traditional Investments also manufactures bespoke luggage to match the cars it works on. Using conventional techniques plus materials in order to create mounted or enclosed trunk luggage, the company creates contemporary pieces or vintage-inspired articles that are indistinguishable from the original trunks upon which they are based.
“It’s a case of providing an unique touchpoint that helps you anticipate and appreciate the car before you even sit in it, ” states Agris. “Pack a case with regard to a weekend away, and you’re already thinking regarding the generate ahead. Our cars are intended to become used, not simply stored within an air bubble – where would be the particular enjoyment in that? Indeed, you are usually investing, yet who said you can not possess some fun at the same time? ”
Footman James covers many traditional car ownerships, from desirable motorbikes through to multi-car, million-pound collections and everything in between. This enables this to tailor its service to suit clients looking to make sizable investments in classic vehicles, like the E-type. “We ensure our services meet client’s needs, but our Private Clients team specialises within providing tailored insurance packages for prestigious vehicles, vehicle collections and even high-value homes, ” describes Bond.
“We currently insure £1. 3bn in our Personal Clients group alone, and each Private Client has the dedicated account handler that can look after any needs throughout the particular lifetime of a policy. Classic cars are our passion, and it makes us happy to end up being able to ensure that someone’s pride plus joy stays well protected under the care. ”