Classic cars are a cash safe haven

Classic cars are proving a safe haven for investors running scared of collapsing stock markets amid the global financial meltdown.

London-based Coys, the international car auctioneers, says sales of historic motors are surging as investors scramble for 'hard assets'.

Managing director Chris Routledge said: "We are reporting very strong sales of vintage and veteran cars, $8.5 million worth since mid-September."

And an investment in rare British wheels could be the best of all: the last remaining original unrestored 1955 Aston Martin DB3S recently went for more than £2 million.

Other noteworthy cars at the Barons sale at Sandown Park on October 20-21 include historic British sporting machines such as the 1953 Austin Healey 100/4, estimate £25-30,000.

There are much cheaper classics on the market in the UK, though - between £3,000 to £8,000 will buy a pristine set of older wheels that should at least hold their value through thick and thin.

The place to see many privately-owned examples is the Classic Motor Show, staged at the Birmingham NEC from November 14-16. The event will be packed with more than 1,000 classic, vintage, veteran and retro cars, spread over five halls at the NEC.

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