Old cars from well-known brands are valuable, pointed out Iskren Milanov, chairman of the Sofia Auto Retro Club
Vintage cars are very suitable for investment, but the owner must be quite knowledgeable and literate, keep track of the number of cars produced, the make, the model, the designer. There are several factors to keep an eye on and based on these one can wisely invest in classic cars as well. He made this recommendation in the show “Business Start” on Bloomberg TV Bulgaria Sincere Milanovchairman of the Sofia Auto Retro Club.
“Get a rare, exclusive car in good condition and just store it well so you don’t lose it. Don’t get cars just because they’re old, and you think every car is valuable just because it’s old. That’s not the case,” he commented. the expert.
He pointed out that there are brands that are very well known to every Bulgarian. “If you bet on Ferrari, Porsche, Mercedes, you can’t go wrong. These are cars that command the highest prices at auctions, have a rich sports history, are associated with the best athletes, have the most sports victories,” recalled the chairman of the Sofia Auto Retro Club.
Milanov drew attention to the fact that prices vary and therefore should be carefully monitored when deciding to invest in vintage cars.
“One has to read a lot, have quantitative accumulations of information to get the qualitative insights and know what car to invest in,” he advises.
According to him, a car is usually associated with the age of certain people and he gave the example of those who are 50+. “They have the opportunity to buy the car of their youth.” We turn the clock back 30 years and see which cars are currently rising in price. The cars of the Second World War, along with the generation that was then 20, were losing their power. This generation is slowly passing away and car prices are trending downward,” the expert revealed the market trends.
Iskren Milanov was a guest in the show on the occasion of the upcoming second consecutive Autumn Auto Retro Parade, held by the Sofia Auto Retro Club, which will take place on September 17 from 8:30 to 13:30 at Alexander I Square and will be part of Kulturnia calendar on the occasion of Sofia Day.
What are the maintenance costs of a vintage car? How are valuable cars stored? Where can a prospective vintage car owner get information? What are the most valuable and iconic cars that we will be able to see at the Autumn Parade this year in Sofia? How was Georgi Dimitrov’s armored car, personally gifted by Stalin, stolen in 1992? How did it sell in Chicago for $300,000 instead of its market value of $4 million? How much is the most expensive retro car in Bulgaria? Through the windows of which car that will be present at the Autumn Parade, the sheikh of Iran and his wife threw real coins on the Bulgarian streets? What is the car that met Yuri Gagarin, Leonid Brezhnev and Fidel Castro?
These and other questions will be answered if you watch the entire commentary in the Bloomberg TV Bulgaria video material.
You can watch all the guests of the show “Business Start” here.