When most people think of art, they probably think of something for display. Perhaps a painting or maybe even a sculpture. But they may not necessarily think of parking a piece of art in their driveway or even the garage. However, that’s exactly what classic car collectors are doing.
“Cars are ultimately an artistic expression,” says John Hirt, owner of Greenbrier Classic Cars. “Very few people want to buy art if they think it’s going to go down in value. Instead, they’re going to try and invest in things that they think will continue to go up in value. One of those things is classic cars.”
For car collectors, the equivalent of a fine art show is an auto show. Whether it’s a large gathering with hundreds of cars or a small gathering of friends at a local “Cars and Coffee” event, there’s nothing quite like it to bring people together.
“Cars and Coffee events have been around for awhile,” says John Hirt. “It didn’t start here, and it’s really just a manifestation of people’s interest in their own car and in other people’s cars. It’s coffee in the morning for folks who are looking for something to do on a Saturday,” he adds. “It’s a place where people can come in, have a cup of coffee and get together. It’s also a great way to meet new people, see other cars and talk to old friends. It really is a pretty interesting thing.”
Weather permitting, a Cars and Coffee event is commonly held on Saturdays from 8 a.m. to noon at Greenbrier Classic Cars on 2428 N. Jefferson Street in Lewisburg. When an event is being planned for the weekend ahead, signs will be posted in the grassy area directly in front of the showroom.
Aside from the obvious visual appeal that many classic cars possess, there’s a sentimental aspect that cannot be overlooked. Hirt said, “People want to reconnect with a car that they remember. Maybe it was their first car or a car they lusted after in high school. There’s always a senior in your class that somehow managed to have money to go out and buy a real nice car,” he adds. “You remember thinking that one of those days, you’d like to have one of those cars. People remember that feeling and maybe now they can afford it, and they want it in their life. Take it out on a weekend and drive it, take it to a Cars and Coffee event, a drive through the mountains on a nice weekend day or go out and get ice cream. These are just fun things to do to live your life in the best possible way with a car that you have an emotional attachment to,” Hirt concludes.
If you are in the market to buy, it’s important to determine whether you are investing for pleasure or profit. If it’s the latter, there are some factors to consider that can help to determine the future value of your car. Among them, is the production run. The number of cars that were made in a given year, featuring a specific body style or other defining feature can play a key role in its value. As is the case with many collectibles, the price tag often boils down to supply and demand. Other considerations include certain features that may be rare and, therefore, more desirable to collectors and also the production year.
According to Hirt, if you are buying as an investment, “the first and last year that a car was made is a great place to start.” When it comes to the benefits of owning a classic car, one thing to consider is the fact that the car will not depreciate when you drive it off the dealership lot.
“It’s not going to lose value like a new car, and that’s the beauty of it. It’s because the car is already used to begin with,” confirms Hirt. The fact that a number of classics actually appreciate in value is what draws many into ownership. “I view not all classic cars, but a large cut of classic cars as an asset class. Look at the stock market. It goes up, and it goes down, but it generally trends up over the long term. That is the case with collector cars. Not all cars, but a lot of them,” he adds. “Cars are so much better than a stock portfolio. I mean, you can’t have an emotional attachment to your stock. You can’t drive your stocks. You just own them and look at the technicals. In the meantime, you’ve got this guy over here who invests in cars. What’s he doing? He’s driving them, he’s racing them, he’s improving them, he’s showing them off to this friends. You can’t do that with a stock portfolio,” Hirt says. “I mean you can’t say, look at my stock portfolio. Isn’t that beautiful? I mean, you can’t do that.”
When the chance to own that special car does finally present itself, it sometimes comes with the need for restoration. Hirt cautions, “It has to be a car that you have an emotional attachment to if you are going to restore it. Otherwise it just becomes a job or a chore. You need to have that attachment or finishing the car really won’t mean anything to you.” When it comes to the cost of restoration, the total price will ultimately depend on the degree to which the car is restored.
“If I’m restoring a car to get it in driver quality condition, and I’m not really worried about getting the correct fasteners, original tires, etc., that’s fine, but that car doesn’t go in a show,” Hirt says. “If on the other hand a car is being restored for judging, then I have to get the correct tires, correct fasteners, correct this, correct that. Everything has to be correct.”
Thanks to modern technology, we have cars that talk to us, park for us and even drive for us. However, classic car enthusiasts are often willing to trade those bells and whistles for the sounds and style of yesteryear. Hirt noted, “I believe that technology has superseded artistry. That being said, there are still some car companies that have stuck to the artistic styling that first brought them to the table. I believe there will always be a demand for classic cars because they are every bit a piece of artwork.”
Classic cars often tell us a story of their past, but it doesn’t always end there because the love for many of these cherished keepsakes will live on through their current and future owners. As is the case with any story still being written, their legacy is to be continued.
For more information on Greenbrier Classic Cars, call 304-520-6234, visit gbrclassiccars.com or search ‘Greenbrier Classic Cars’ on Facebook.
