The collector car market - Italy

In Italy, a car is defined as vintage when it is over 30 years old. The government practically identifies them as movable pieces of art, they do not have to pay road tax, they can often enter restricted traffic zones even though their polluting characteristics would not allow it, and they also have particularly low insurance costs. But why should a historic car be preserved? And what drives an increasing number of enthusiasts to collect them? Investments are not always rational; in the last period, especially after the financial crisis of 2007, we have seen an increasing search for so-called alternative investments. These are all those categories of collectibles that acquire value not so much for their production capabilities, but for the emotional connection they create with buyers, combined with their inherent rarity. Classic cars in particular are among the categories of alternative investments that have gained the most value. The automobile industry has changed profoundly from its popularity in the 1900s to the present. Innovations in this market have made cars safer, more efficient, faster, and more environmentally friendly. But something has been lost. Classic cars are witnesses of a time that is no more, of aesthetic care that prevailed over rationality, of a quest for freedom and a kind of irresponsible immaturity. The world has undeniably changed radically. If there is something certain, it is that a growing number of people still seek the thrills of yesteryear, and classic cars are a great way to remember past eras. The global market was worth $31.1 billion in 2021 and is expected to grow to over $51 by 2032. The largest auctions and private car sales are held in America, which is the largest market for it. Italy ranks fourth, but the history associated with the country's many historic manufacturers drives many investors, including foreigners, each year to events such as the Concorso d'Eleganza di Villa d'Este, which hosts one of the most important auctions nationwide in the striking villa on Lake Como, or the Auto e Moto d'Epoca Fair in Bologna, one of the most important in Europe. Lately, young timers, which means cars aged between 25 and 35 years, are becoming more and more popular, which is also a sign of a growing interest on the part of a younger public, which, in addition to the collection, is also interested in the daily use of the cars. The Italian market is divided between online marketplaces, auction houses, both foreign and Italian, and dealerships that often deal in both resale and maintenance and restoration. The study also includes an in-depth analysis of some of the most iconic models on the market: Ferrari 250 GTO, Porsche 356, Lamborghini Miura, Aston Martin DB3, Lancia Stratos, etc...