Classic cars that are worth as much a small island in the Bahamas

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Classic car prices have risen steadily over the years, and some are worth a sizable fortune. However, determining a vintage car’s worth or fair market value (FMV) goes beyond assessing the body condition, mechanical integrity and the level of restoration undertaken to bring the vehicle to life. In the case of the most expensive cars sold at auction, wealthy car collectors look for two things: limited production numbers and racing provenance.

Those two key factors play essential roles in determining a future classic’s value, but you should also consider market demand. Performance imports from the early 1990s to mid-2000s like the A80 Toyota Supra, Nissan Skyline R32/R33/R34, Subaru Impreza WRX STI and Mitsubishi Lancer Evolution series may not cost as much as a 1962 Ferrari 250 GTO now. But if valuation trends for 1960’s classics apply to more recent performance imports, we would expect import prices to skyrocket further as collectors from that era gain more disposable income.

Here, we highlight the top 10 classic cars that are now worth a small island in the Bahamas. You can check out more details here about the classic cars worth $100,000+ with the biggest value growth, and the classic cars worth under $100,000 that gained the most value.

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1952-53 Jaguar C-Type

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1954-1955 Mercedes-Benz 300SL Aluminum Gullwing

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1958-1959 Ferrari 250 GT

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1954-1957 Jaguar D-Type

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1959-1963 Ferrari 250 GT SWB

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1960-1962 Aston Martin DB4 GT Zagato

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1957 Ferrari 250 California LWB

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1959 Ferrari 250 California LWB

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1958-1959 Ferrari 250 California LWB

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1960-1962 Ferrari 250 California SWB

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1957 Jaguar XKSS

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1961-1962 Jaguar E-Type SI Lightweight

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1963 Ferrari 250 California SWB

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1960 Ferrari 250 GT SWB

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1960-1963 Ferrari 250 California SWB

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1963-1965 Ferrari 250 LM

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1957-1958 Ferrari 250 TR

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1958-1959 Ferrari 250 California LWB

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1992-1998 McLaren F1

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1960-1961 Ferrari 250 California SWB

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1963 Ferrari 330 LMB

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1995 McLaren F1 LM

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1965 Shelby Cobra Daytona

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1962-1963 Ferrari GTO SII 330

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1962-1964 Ferrari 250 GTO SI

The Ferrari 250 GTO built from 1962 to 1964 ticks all the boxes of an expensive future classic. Ferrari only made 36 examples of the street-legal GTO (Gran Turismo Omologato) for around $18,000 each, and each buyer was approved personally by Enzo Ferrari.

The Ferrari 250 GTO also earns bragging rights for being the most expensive car sold at auction. In 2018, a pristine 1962 model (chassis# 3413 GT) dropped the hammer to a staggering $48.4 million. Four years earlier, a similar Ferrari 250 GTO that won the 1963 FIA World GT Championship sold for a record-breaking $38.1 million.

If you think that’s crazy, get this: A well-heeled American collector paid $70 million for a 1963 Ferrari 250 GTO (chassis #4153 GT) in a private sale, also in 2018.

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Will Electrification Cause Vintage Car Prices to Rise?

Determining a classic car’s future value requires extensive knowledge, prudent research and a little bit of luck. As the automotive world shifts towards electrification and alternative energies, we expect iconic, gasoline-powered, high-performance vintage cars to demand astronomical prices at auction.

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Methodology

We collected car price data using the Hagerty valuation tool in February 2021. Prices were collected for the last 15 years (2005 – 2021) for over 24 thousand vehicles assuming “Concours” condition (the best condition). The appreciation of each vehicle was calculated in USD and %.

This article originally appeared on NetCredit.com and was syndicated by MediaFeed.org.

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