When you first begin collecting, you will tend to make purchasing decisions based solely on an emotional level; you buy simply because you like the car.

Of course, you still have your sensibilities and should absolutely listen to that voice telling you, “Do not buy an absolute wreck,” but buying for the love of a car is why you are in this game to begin with. It is part and parcel of the allure of automobiles of significance. They resonate with us. They inspire something within us.

Your first purchases are likely to be of a specific type, perhaps the car you could not afford when you were a younger man or woman, the car that was in the poster on your bedroom wall, or the car that your mum and dad had; maybe even the car you first learned to drive in. 

These emotionally resonant automobiles are a great entry into the world of collecting. Once you have cut your teeth with these kinds of cars, you may begin seeking out some of the more unusual and inspiring vehicles from the motoring past, and it is at that point you will probably need some guidance.

The key element here, is that in order to be a worthy custodian, an automobile should have some meaning for you, rather than simply buying for investment purposes.

Emotional Attachments

Sentiment is wonderful when it comes to inspiring you to buy a car and the way you will treat and care for it; however, when it comes to buying and selling, there must be a more clinical approach.

For most of us, you want anything you buy to be a good investment. Nobody likes to think they have paid too much for anything or wants to appear foolish.

I cannot overstate the need for collectors to buy wisely. As much as I advocate letting the heart have a say in the type of car you want to buy, you still have to exercise caution and concentration when it comes to buying decisions.

I have seen so many people at auction, clearly reacting on an emotional level and paying far too much for their automobiles. They have not fully appraised the real value of the car and they do not know when to stop.

Good solid research will give you a clear indication of a car’s worth, and then you must resist the temptation to stray too far from those financial boundaries. If you are uncertain how to establish value for the car and it is hard for you to control your emotions, then consider using an expert to give you advice on what you should be purchasing and how you should be purchasing it.

Even though you may start your collection by buying a car you love, the reality is that you probably will sell it one day and would like to get as much money as you can for it; so, bear in mind that it is very hard to recoup money on a car that you have paid too much for. 

There is a common refrain in the collecting world that we, as classic car enthusiasts, do not own these cars, but that we are merely custodians for the next owner, whoever that may be. This philosophy is a helpful reminder to consider the future of the car and the protection of your investment.

I try very hard to drum into my clients’ minds that there will always be another car, and that the next one will be better than the one you have or want to have right now.

Be inspired by your love for a car when you choose it, think strategically about buying and always consider how you may sell it in the future.