Concept cars move to the forefront of collectables

January 27, 2006 Collecting rare automobiles has long been one of the more rewarding forms of investment as it has the added bonus of owning and driving a fine automobile while your asset appreciates. As the successful baby boomer generation begins to retire and cash in decades of endeavour, this appreciation of fine automobilia and the wonderful camaraderie which surrounds the collector scene is driving prices ever higher … and with it, a new star has emerged among automotive collectables - the concept car. Concept vehicles are vehicles with an instant and easily verifiable history – in the same way that cars owned by celebrities fetch a higher price, the concept car is usually created as a one-off, by a team of experts as a showcase of future technology (the first car with … electric windows, fuel injection, ad infinitum) and hence it has its own celebrity status, having been the focal point of massive media promotion at a major public event. Last week’s Barrett-Jackson Auction was a prime example – it attracted record attendance, broke numerous world records, had total sales of more than US$100 million and saw US $4,320,000 paid for a General Motors Futureliner concept bus, US$3,024,000 for a 1954 Pontiac Bonneville Special concept car and US$648,000 for Shelby Cobra GT500 Concept car just nine months old.

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