By Jerry Hirsch
One gauge shows the value of collectible cars has risen 33% since the depth of the recession in 2009. The growth has been fueled by the finding that they have performed well as investment vehicles.
The collector car market, which slumped with the economy, is coming back along with the rest of the auto industry.
But don't expect to pick up a classic Tucker or Duesenberg without ponying up money like a Facebook executive. Many of these cars are selling for well over $1 million.
By one measure, the value of collectible cars has surged 33% since the depth of the recession in 2009. The Hagerty collector car blue-chip index — a Dow-like gauge that averages the values of 25 of the most sought-after collectible automobiles of the postwar era — climbed to $1.25 million from $940,000 in September 2009.
La Jolla resident Chuck Spielman has been watching the market, waiting for the best time to sell a 1930 Duesenberg so that he can purchase other cars for his collection.
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