Classic car wrecks sell for more than new models
posted on Feb 20 2014 by Jade Hensby
Motorists are spending more money buying the world’s most luxurious cars, but these luxury cars are scrap metal. Automotive fixer-uppers, also known as ‘barn finds’ are becoming increasingly sought after, even though some are not even in driving condition.
These age old vehicles are the latest in a growing number of un-restored classics which have been selling for enormous prices around the world. For example, a 1956 Mercedes 300 SL Gullwing, which has been off the road for 30 years, recently sold for 1.15 million, 75% more than expected. The new owners will now have to spend thousands fixing it up, even though they could have bought a concourse quality model at the same auction for £850,000.
Another example of this extravagant hobby, a 1967 Ferrari 330 GTS, which had been hidden away for 44 years after suffering from fire damage, sold at the same auction house for £1.25 million.