“By the Prowler invested in me”

Thanks John, for the links you sent me about the Plymouth Prowler that I found very interesting. I think I will hang on to my £25,000 at the moment and treat it as rainy day money. We live in quite a wealthy part of Surrey, but if you chat to people in our two village inns they are all pleading poverty and say times have never been tougher. Yet when I go on my long walks around this area I have noticed many private garages have ‘high days and holidays’ cars in them, very expensive cars too: Porsche, E-Type Jags and Bentleys to name a few. My question is there must be tens of millions of pounds sloshing about in people’s garages. If times are bad, we don't see the market flooded with these cars do we?

Asked on 9 January 2010 by SS, Surrey.

Answered by Honest John
Actually, the still rich have been investing in cars again, but a bit more carefully than they did 20 years ago. Completely unique and desirable cars have been fetching record money at auction as 'works of art' that seem to be a safer investment these days than stocks or real property. And it could still go a little crazy like it did in 1990. With new Ferrari F458s advertised at £218,000, I can see the £168,500 McLaren MP4 12C attracting ‘overs’ of more than £50,000.
Tags: buying
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