When financial institutions fail and people lose their confidence, investors begin looking for other ways to capitalize on their wealth. And one of those ways has been with classic cars. While the rest of the economy tanked, collector cars continued to climb. According to Hagerty's "Cars That Matter" index, prices for collectible post-war automobiles has gone up 67% from 2006 to the end of last year, while Standard & Poor's 500 Index dropped 5.9% over the same time period. Those are some compelling numbers, which have compelled many investors to put their equity into rolling assets.
That's the basis for the formation of IGA Automobile, an upstart investment fund that aims to buy and re-sell some of the finest automobiles they can get their hands on. Among their targeted acquisitions are the Ferrari 250 GTO (like the one pictured above), Aston Martin DB4 Zagato, Ford GT 40, MacLaren F1, Shelby Daytona and Porsche 917. Of course they'll have to find buyers willing to part with their cars to turn them around, but the fund plans on investing some $150 million over the course of 7 years and turn a 15% profit for its investors.
Among those reportedly on board is Pink Floyd drummer Nick Mason, a noted collector and regular columnist for Octane magazine.
That's the basis for the formation of IGA Automobile, an upstart investment fund that aims to buy and re-sell some of the finest automobiles they can get their hands on. Among their targeted acquisitions are the Ferrari 250 GTO (like the one pictured above), Aston Martin DB4 Zagato, Ford GT 40, MacLaren F1, Shelby Daytona and Porsche 917. Of course they'll have to find buyers willing to part with their cars to turn them around, but the fund plans on investing some $150 million over the course of 7 years and turn a 15% profit for its investors.
Among those reportedly on board is Pink Floyd drummer Nick Mason, a noted collector and regular columnist for Octane magazine.
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