Cory Cole of Brielle, NJ, studies rising classic car values

Classic car enthusiast Cory R. Cole of Brielle, NJ, delves into the market as values ​​continue to rise in 2021.

In the last decade alone, classic car values ​​are said to have increased by up to 300 percent. Despite ongoing economic uncertainty due to the ongoing global health crisis, prices remain strong. A classic car enthusiast from New Jersey, Cory Cole of Brielle, NJ, takes a closer look at the market.

“The values ​​of classic cars have never been as strong as they are right now,” said Cory R. Cole of Brielle, New Jersey, at his home in Monmouth County, New Jersey. Cole is a lifelong fan of classic cars with a particular passion for restoring some of the most sought-after models.

Classic car enthusiast Cory is right when he claims that the market has hit an all-time high. A recent study by New World Wealth, a leading global wealth intelligence group, found that values ​​rose by up to 300 percent between 2010 and 2020.

“Some of the most sought-after vintage models have increased dramatically in value in the past few years,” adds Brielle, NJ expert Cory Cole. That surge comes, he says, as demand for certain models continues to outpace supply.

Some of today’s most sought-after classic cars include immaculate examples of the Plymouth Barracuda and the Dodge Charger from the late 1960s, according to Cole. “Particularly rare examples, like the Hemi ‘Cuda Cabriolet from 1971, have appreciated the most,” he adds.

European models are now among the most valuable, says Cory R. Cole of Brielle, NJ

While classic American muscle mass is still very much in demand, there are still ways to get good specimens for a reasonable price, reports Cory R. Cole. For many European models, however, this is not the case, he reveals.

“Cars from European manufacturers such as Ferrari, McLaren and Lamborghini continue to top the charts when it comes to classic values,” explains Cole. “Why? Because they just don’t hit the market the way they used to, ”he adds.

Since many of the most popular brands and models are already in private collections, they change hands less and less – especially on the open market. “If they do, it’s for astronomical sums,” says Cole Cole of Brielle, NJ.

The latest New World Wealth study found that a classic McLaren F1 could potentially set it back three times what it would have cost ten years ago if potential buyers found one. Other iconic models, like the Lamborghini Countach and Ferrari 250 GTO, have all grown in value similarly, the same report shows.

“Older and rarer models such as the Ferrari 250 GT California Spider and Lamborghini Miura,” emphasizes Cole, “could have increased in price even further over the same period.”

Cory R. Cole, of Brielle, NJ, is a graduate of Rutgers University in Brielle, New Jersey. In addition to his passion for restoring classic cars, sports fan Cory regularly plays football and trains daily. His other interests include surfing, snowboarding and diving.

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