Dallas hosts classic auction
Image: Sicnag, 2012
Classic car auctions are common across the country, but a particular event in Dallas celebrated its 40th anniversary last month.
Leake Auction Co. has been selling classic cars in Dallas since the early 1970s and it held a major celebration last month, at which over 600 vintage vehicles were on offer.
Amongst the classic cars on sale was a 1970 Ford Mustang Boss 429, which would have been relatively new when the company started out.
The Ford Mustang and hundreds of other cars worth a total of around $40 million were sold at the auction and the company in control has handled deals which are, cumulatively, worth hundreds of millions.
A spokesperson revealed that recent retirees are helping to drive the classic car market at the moment, since many are finding that this is the best place to invest their money.
While stocks can be volatile and savings accounts do not yield much, a classic car can continue to appreciate in value and offer buyers a decent return.
Of course, many also spend their cash on classic cars because of their passion for vintage vehicles. If there is any money to be made from it, then it is simply a bonus.