Bentley 4.5 litre / Bugatti Veyron - Two £600,000 cars at auction this week

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Sun 6 Jun 2010 11:43
Bentley 4.5 litre / Bugatti Veyron - Two £600,000 cars at auction this week - mike hannon

The small print should remind people that 'investments can go down as well as up'.

Ask anybody who paid a blindingly stupid price for an old car during the last 'bubble', 20 years ago.

Although I suppose, as most of these people are in it for the money rather than a love of old cars, if the price/value eventually plummets they will just put it down as a tax loss. Win win for the wealthy who don't care about the cars, lose lose for those of us who do and have to suffer rocketing costs for purchase, repairs, servicing, etc.

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Mon 7 Jun 2010 12:47
Bentley 4.5 litre / Bugatti Veyron - Two £600,000 cars at auction this week - pd

Why is such an investment not subject to capital gains and/or regular corporation or profit tax if bought/sold on a business basis?

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Mon 7 Jun 2010 12:52
Bentley 4.5 litre / Bugatti Veyron - Two £600,000 cars at auction this week - mike hannon
I guess the sort of people - on the whole - who are paying these insane prices know as little about cars as they do about art. I'm not even sure they understand money, which is why the rest of us have to suffer.
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Mon 7 Jun 2010 13:36
Bentley 4.5 litre / Bugatti Veyron - Two £600,000 cars at auction this week - OG

When new that Veyron cost about £1m so it's still depreciated by 40%. I wouldn't call that a good investment.

Sorry but I can't get excited by people paying very silly money for mobile bling.

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