Here’s the fast, hassle-free way to buy or sell these treasures.
Demand for classic cars is rising. This may sound like good news, especially if you have one to sell, but there are drawbacks. Once you list your antique or classic car for sale, brokers will inundate you with requests for photos. Strangers will want to come to your home, or worse may want you to take your precious car to an unknown mechanic for inspection. Then there’s the buyer’s financing: Will their bank approve it? How long will it take to get in place?
Classic Cars to look for
“There is a better way,” comments Peter Kumar, owner of Gullwing Motor Cars, the largest buyer and seller of classic and antique cars in America.
Gullwing Motor Cars buy mostly European classic cars, in any condition. At any one time, there are as many as 120 to 130 cars in its inventory. And that inventory is constantly changing. From Austin Healeys and Triumphs to Ferraris, Mercedes and Rolls Royces, the company sold more than 600 cars in 2014.
Based in New York, Kumar literally travels the world to replenish the supply. “I make 50 to 70 trips a year either by car or plane,” he confirms. Each trip is like a treasure hunt. He recently flew to Louisiana to buy a $200,000 Aston Martin that had been sitting in the owner’s barn for 30 years. And there was the whirlwind three-day period when he bought a Maserati in Chicago, a Lamborghini in Boston and an Aston Martin in New York. “I purchased three incredible cars in 72 hours,” he recalls. [Read more…]