The launch of Aspire Collectable Cars
In the automotive world, owning and driving a rare car holds great appeal with collectors often willing to go to great lengths to acquire one. Rare cars might not be the most convenient items to collect but they hold an undeniable appeal for automotive aficionados.
Given that the automobile was one of the defining influences on the 20th century, the need to preserve the rarest of them makes sense. It’s no coincidence that the collection of over 400 of the very best vintage cars, including two of the six extant Bugatti Royales that were once owned by French textile barons, the Schlumpf brothers, was so significant that the collection eventually became the French National Motor Museum.
The single largest collection of cars is rumoured to belong to the Sultan of Brunei and his brother Prince Jefri and is reported to contain over 7 000 vehicles. Most car manufacturers have retained stock of their best vehicles. Mercedes has a warehouse in Stuttgart, Germany, which houses its entire back catalogue, from its very first car. In 2022, Mercedes sold a 1955 Uhlenhaut Coupe from its warehouse of reserve stock to a private collector for $143 million.
“Rare and collectable cars are a unique breed, distinct from classic cars,” explains Jake Gore, a board member of Aspire Art, an auction house which recently announced an expansion to rare and collectable cars with the launch of Aspire Collectable Cars.
“While a rare and collectable car can be one produced in the early 1900s, it can equally be a limited-edition vehicle produced in the last decade. Their exclusivity and rarity are a major part of their allure. Some have earned their rare status through historical significance, whether it’s their role in motorsport, a ground-breaking technological advancement or a connection to a famous individual. An iconic and distinctive design could also be what sets it apart from its peers, making it highly desirable to collectors,” says Gore.
The rarity premium is what makes rare cars so sought after, he reveals. “Limited production naturally creates scarcity, a key factor driving up prices. Collectors and investors recognise this dynamic, often willing to pay a premium for rare cars, especially those in pristine condition, with distinctive features or which are associated with automotive history or a legendary figure.”
Many rare cars have proved to be excellent long-term investments, appreciating significantly over time. Classic models such as the Ferrari 250 GTO and Mercedes-Benz 300SL Gullwing have consistently outperformed traditional investments such as equities and real estate. These vehicles are more than just transportation, representing pieces of automotive art and history that grow in value with each passing year.
While rare cars offer significant investment potential, it’s important to remember that not all rare cars are created equal. Gore reveals that the condition and maintenance history of a vehicle play a crucial role in determining its value. “A well-preserved, low-mileage example is far more likely to appreciate than one that has been heavily used or poorly maintained,” he says.
There has been growing demand in South Africa for high-quality, rare, authentic and historically significant cars. As a dollar-denominated asset, they are easily exportable and have become increasingly attractive assets for both local and international buyers. As part of its commitment to provide access to high quality and rare assets to discerning collectors, Aspire Art is responding to this demand with the launch of a Collectable Car division.
In the same way that Aspire Art offers exceptional works of art to discerning collectors, its Collectable Cars division is offering sought after, high-quality rare collectable cars, each with their own unique history and appeal. The carefully curated collection of cars up for auction includes one of the only five remaining 1976 Ferrari 308 GTB Vetroresina in South Africa, offering collectors a rare opportunity to own a truly iconic piece of Ferrari history. Other iconic marques up for auction include Alfa, Ferrari, Jaguar, Lamborghini, Mercedes Benz, M.G. Car Company and Porsche.
The cars on offer, explains Gore, are not bank repossessed vehicles or wholesale, but highly bespoke, carefully selected vehicles. The provenance and history of each vehicle has been carefully researched, providing buyers with the necessary assurance.
“Before deciding to invest in a rare car, it’s very important that buyers do their homework. The vehicle’s ownership and service history should be available. What condition is the vehicle in? Have any modifications taken place or is it in its original condition? Is the vehicle part of a limited edition or was it mass produced?”
Aspire Collectable Cars is assuming responsibility for much of this ‘homework’ on behalf of clients. Its specialists have personally vetted and verified each rare car that will be available at its inaugural rare car auction taking place in Bryanston, Johannesburg on 9 November 2024.
It has partnered with Rosso Sport Auto, a Ferrari, high-performance and classic automobile specialist to ensure that each vehicle meets the high standards that a discerning car collector would expect. In addition, to ensure the collection is accessible to more collectors, Aspire has introduced an industry first buy now, pay later payment scheme.
“The combination of rarity, cultural significance, engineering excellence, design and art are what makes rare cars such an appealing passion investment,” says Gore. “We are very excited to position Aspire Collectable Cars at the pinnacle of the industry to ensure it becomes the destination of choice for discerning rare car collectors.”
