Classic cars gain value as interest from Chinese and millennial investors grows

Nov 3 , 2017

Classic cars are gaining popularity among car collectors in Hong Kong, according to local collector Carl Yuen, who is also ofvice-chairman of the Classic Car Club of Hong Kong.

More classic cars are being imported and snapped up by collectors

Hong Kong’s fashionistas are already debating what to wear at Sino Group’s Gold Coast Motor Festival 2017, on November 10 to 12. Lavishly promoted as “Hong Kong’s premier motor celebration”, the festival presents 80 classic and collectible cars at the property developer’s 2,000-residence, 453-room Hong Kong Gold Coast Hotel and Marina resort, outside Tuen Mun. The weekend event is also the best excuse yet to dress up in style and drink Champagne in one of China’s most opulent, Riviera-like settings.

A Pagani Zonda Fantasma Evo (2017), set to be shown at Gold Coast Motor Festival.

Big fashion names are heading to Gold Coast, and in the knowledge that classic automotive design and atelier fashion have long gone hand in hand. Labels and luxury brands traditionally follow the world’s beautiful to the finest car events, from Chantilly to Goodwood, and Monterey to the Villa d’Este.

Car fans can see a rare Volkswagen XL1 hybrid two-seater, another highlight at the Gold Coast Motor Festival.

Now Hong Kong’s style leaders are about to gleam in the international automotive limelight. The Gold Coast Motor Festival cavalcades some of the world’s finest cars from marque museums and rarely seen private collections, “but also celebrates local fashion and lifestyle”, says local collector Carl Yuen, the festival’s honorary curator.

Luxury cars such as the McLaren often share the spotlight with models and fashionistas at top motoring events, such as the Chantilly Arts & Elegance Richard Mille, outside Paris in September.

Fashionistas have long loved the gleam, style and individuality of classic cars. Sarah Jessica Parker is reportedly drawn to Karmann Ghias, while model Kate Moss has been seen in a classic MG Midget, and designer Ralph Lauren has a rare 1936 Bugatti Type 57SC Atlantic. Classic cars are also increasingly popular in style- and image-conscious Hong Kong, local collectors say.

Bella Hadid presents a creation from the Ralph Lauren spring/summer 2018 collection in a show that was presented in Lauren’s private garage for New York Fashion Week.

“We’ve seen many more classic cars being brought into Hong Kong,” says Yuen, who is also vice-chairman of the 600-member Classic Car Club of Hong Kong (CCCHK). “More enthusiasts are buying, collecting and, best of all, driving their classic cars too,” he says, citing but not naming “local celebrities”.