I don’t know about you, but I’ve got a pretty big list of things I am going to buy when I win the lottery. Along with the houses and boats, of course, will be the mandatory fleet of the most beautiful cars you can imagine.
A flashy car is one of the most visible ways people demonstrate their taste and financial status, so people finding themselves in sudden possession of wealth often go for the flashiest of all.
The first and most ostentatious place to splash your cash would be to go for one of the latest supercars on the market – and there is an increasing number to choose from.
HYPE OVER SUPERCARS
In the past 20 years, the super or hypercar market has boomed and you can blow the best part of $10m on a Maybach or a Koenigsegg.
Actually, if you’re in the market, boxer Floyd Mayweather has just put his Koenigsegg CCXR Trevita on the market. When he bought the second of only two of these cars ever produced, he said it sparkled like diamonds – which isn’t surprising as it’s made of carbon fibre combined with diamond dust. He bought it in 2015 for a mere $US4.8m ($6.2m).
According to industry commentators, the property boom in Sydney and Melbourne has driven the rise of the supercar market here, making Australia one of the fastest growing markets in the world for premium marques.
Last year according to industry figures, the leading supercar sales in Australia were for Lamborghini, Aston Martin and McLaren, respectively.
A CLASSIC INVESTMENT
Unlike a regular ride which loses money as soon as you drive it out of the showroom, bought wisely some cars can dramatically appreciate in value. If you really want to make sure everyone knows how well off you are when you pop down the shops for milk, you might consider a classic Ferrari.
While some celebrities gravitate towards the new and the showy, there are others who prefer a more classic car – Jerry Seinfeld is famous for his collection of mainly Porches. Although he claims he doesn’t collect cars to make money, last year Seinfeld sold off 17 of his cars netting him $US22m.
You might be lucky of course and jag a so-called “barn find” – as French auction house Artcurial did in 2014 when it was contacted by a family in rural France to value a barn full of classic cars which had been handed down thrhough several generations. What they found on inspection was the world’s most valuable such find – 60 rare cars, untouched for 50 years which netted $US28.5m at auction.
But prices can climb even higher – in 2014, a 1962 Ferrari 250 GTO sold at auction for $US38m making it the most expensive car ever sold.
I’m going to buy my lottery ticket now.
Michael Higgins is Director of HelloCars.
This article first appeared on Yahoo7.