Where should I buy my collector car?

Have you dreamed of owning a head-turning vintage coupe or a powerful muscle car? If you have, then you’re in good company. The collector car market is expanding, driven by equal parts nostalgia and love of the hobby but also the potential for price appreciation. Vintage cars are often seen as investment assets, seeing returns of up to 88%, according to a 2023 Forbes article highlighting their outperformance of traditional markets. Thus, making a smart purchase today means more than chasing chrome. It requires careful strategy. How should you source your next collector car? How should you consider pricing? To help guide the journey, Berkley One’s VP of Product Management, of Marcus Maingot, shares insights that cut through the noise and put buyers in the driver’s seat.

Online Marketplace

The first question many prospective buyers ask is, “Where should I buy my collector car?” The most honest reply is that there is no one-size-fits-all answer. Many factors should come into mind, beginning with the large number of buyers who start their search online. Online marketplaces and auction sites are prime locations for rare, high-performance vehicles like the turbocharged Buick GNX (think limited production, soaring demand, and niche of experts specializing in that specific model). But Maingot warns, “You have to be careful when purchasing cars online sight unseen, because you might not be getting the car in the condition depicted. You may want copies of invoices documenting work done or pay for a pre-purchase inspection.”

Maingot compares risky restorations to house flipping, “Cars can be restored with shoddy workmanship and inferior parts yet be represented and sold as concours condition.”

Also consider the type of vehicle you’re chasing. According to Maingot, “If you’re doing research, the web is great. But for sourcing cars, it depends on the type of vehicle you’re looking for.” Very limited production vehicles may require a painstaking worldwide search supported by a specialist. Maingot also mentions that though other vehicles, like the Foxbody Mustang, are easier to find, these are becoming increasingly popular with millennial buyers and are relatively plentiful but rising in cost. The bottom line? Know as much about the car you’re interested in as you can so that you make a good buy.

Traditional (Physical) Marketplace

But searching for your next purchase online isn’t the only option. When it comes to sourcing, you can always head into a dealership or arrange to meet with sellers. The choice between dealers and private sellers can shape the entire buying experience. Dealers often are preferred because of their ability to source specialty vehicles along with having an established reputation. They may offer warranties, inspections, and legal protections. This often puts buyers who value convenience at ease. Conversely, private sellers tend to offer lower prices and more room for negotiation, but they also require a sharper eye and deeper due diligence.

If you’re confident in your ability to assess a vehicle’s condition and history, a private sale might yield a better deal. But if you’d rather avoid the legwork and risk, a reputable dealer could be worth the premium. Either way, the key is to align your buying strategy with your comfort level as well as the type of classic you’re chasing.

Community

Whether you’ve chosen to buy at an online auction, a dealership, or through a private seller, once you’re in the hobby, don’t forget to engage with the collector community. This only amplifies the ownership experience. “Forums and Facebook groups have taken over,” says Maingot. “There are different meetups for enthusiasts, so it should be easy to find likeminded people and specialists who know your particular model inside and out.” Whether it’s car clubs, weekend shows, or digital communities, these spaces are perfect for discovering new vehicles getting restoration advice or even helping you find a skilled shop for maintenance and repairs.

Collector cars are more than machines; they’re rolling time capsules of design, engineering, and nostalgia. Whatever your vehicle of choice, the buying journey deserves thoughtful attention, so approach it with clarity around sourcing options and maintenance expectations. Armed with the right insights, collectors can buy with confidence, knowing that owning a classic isn’t just about passion, it’s about experiencing the satisfaction of a memorable drive.

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Berkley One is an insurance provider for modern, sophisticated individuals and families. We’re redefining insurance with technology, innovation, expertise and the backing of Berkley, one of the nation’s premier insurance providers. Offering customized options for homes, automobiles, fine art, collectibles, liability, recreational marine and collector vehicles, we give clients the confidence to move forward and live their adventure.