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Had seen so -- Well every week we try to find somewhere and -- that you can put your money that is not the typical investments stocks or bonds and court's most fixed incomes not returning anything above inflation anyway.
So this week -- -- talk about the latest trends and classic cars that David Gooding.
Gooding and company president and founder -- items David the auctioneer for the prestigious -- -- adults and moderate California every January David Brian good to see you again.
Let's talk about it you know obviously these cars are way out of my price range but what is hot right now what's the best investments out there classic cars.
Well I always say the best investment are things that you love but certainly what's driving the trends right now our cars that you can use on different events -- it's.
Rallies in the US or Europe or car shows.
We're certainly seeing a spike in car prices for cars that you can use on these various events.
I didn't hit any big Leon some of these others like -- 1938.
Yes that's right well that the -- -- Is an event it's -- thousand mile a retrospective rally that that.
Ran through Italy from -- depression.
And they do a revival of that this every year in May and this help ran in the original -- And it is 1938 example and it is called sleeping beauty because.
It was discovered a few years ago collection and friends.
So cars like this are being quite sought after by collectors and prices are escalating as such.
Much of that -- you know just.
Ballpark figure what's -- we're we're estimating that car between one and a -- two million dollars but we've had cars some -- fighters go for well over.
Four -- five minutes have we not.
That's right yes another example that we have a good and company is he -- 1959 California spider.
We had won last year -- -- Pebble -- option.
And this year we have a similar car coming up we're estimating at this one at around four million dollars.
And we expect it should do.
In in fact a lot better than that and it -- similar example just recently changed hands for over ten million dollars so you can see that.
Just last year on our auction which -- one perform half.
-- -- and company in Pebble Beach and this year it's going to be one just sold hands were changed hands for over ten million dollars so.
The prices have been escalating quite dramatic.
Escalating -- -- David at data McDowell I didn't have to jump in here really quick is right after compose himself he's drooling.
Watching this video have suspected.
David -- but what it what cars look.
Overpriced I have -- an opinion a lot of these -- cars we're not talking about.
The seven figure price tags that you were talking about but -- -- a bad -- here.
Well a good company we've never really focused on the muscle car market it's something that we've tried to stay away from.
It's not -- really our specialty and that is a market that it has gotten.
There are segments in there that are still look good advice I think for people that really know what they're doing.
In that segment.
There are some great opportunities.
But what were focusing on -- some of the more traditional high end investments.
Car classic car investments.
Prewar cars and posed for sports and racing and that's what we specialize in.
David -- a pleasure I love this kind of stuff David Gooding a bidding company David thank you very much.
Thank you and -- your 62 -- -- investment is safe for now.
I had my.
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