Spoiler Alert: It isn't cheap or easy!
If you're reading this, then there is a pretty good chance that you either have a car collection or you want to start one. Whether you're looking to fill a warehouse with multi-million dollar, Concours-winning cars or if you just want a few of your favorite cars tucked into a three-car garage, the end game should always be the same: own vehicles that will be an appreciating asset. To help figure this out, Collection Suites, a company epitomizing the growing trend of car condos, recently hosted an event called The Lucrative Art of Collecting, which was a panel discussion giving advice on how to successfully build a collection of cars.
Robb Report spoke with Collection Suites founder and CEO Juan Manuel Fayen, and the keys to a proper collection center on diversification and advice. Fayen singles out Ferraris as a must-have for anyone looking to invest in cars, and he points out that cars like the LaFerrari Aperta, Ford GT40 and Porsche GT2 RS are specifically worth adding to a collection. Of course, finding such highly desirable cars won't be easy. “It’s like hunting, and you have to get lucky,” Fayen said.
During the panel discussion, Bernard Bohn, an antique and luxury car investment specialist, compared vehicle investments to the stock market. “Since 2008, the stock market has shown major volatility, while the luxury automobile investments have proven solid, showing a steady growth. Diversifying your investment portfolio is key. Varying in style, design, year and brand when purchasing collectibles, is essential,” said Bohn.
Collection Suites is a gated community of car condos in Doral, Florida with private units ranging from 2,000 to 2,500 square feet. Each unit comes with built-in security and the entire premises is guarded by 24/7 security patrols.