In a world where luxury super and classic cars are not just modes of transportation but significant investments, meticulous maintenance and careful consideration are paramount. In the latter part of 2023 automotive enthusiasts were captivated at the SA Festival of Motoring, which showcased an impressive lineup of over 30 auto brands at Kyalami Circuit. This event is a pinnacle gathering for potential super car investors in South Africa, providing a firsthand look at the latest in luxury automotive innovation.
The fascination with luxury super cars as alternative investments continues to grow among wealthy South Africans. According to the latest South African Wealth Report by New World Wealth, luxury car sales remain robust, with brands like Porsche, Ferrari, and Bentley at the forefront. The market trends indicate a sustained interest in both vintage and contemporary super cars, with notable purchases including high-value models such as the Rolls Royce Phantom and Ferrari F12 Berlinetta.
At Ami we have discussed the intricacies of super car investments with numerous experts, including Gareth Crossley, a renowned motoring investment specialist and director at Croslley and Webb. Key considerations for prospective buyers include the car’s potential for appreciation, the importance of routine professional evaluations, and the necessity of specialized insurance to protect these valuable assets.
For those considering entering the super car market, here are essential tips:
- Opt for vintage or classic cars for potential appreciation in value, while being cautious with modern super cars which may depreciate unless they are limited editions.
- Regular, thorough evaluations by professionals are crucial to maintain the car in prime condition and ensure it is insured for its correct value.
- Specialist underwriters such as Ami Underwriting Managers (Pty) ltd are recommended for our ability to provide competitive rates and understand the unique needs of luxury super car owners. We also have access to a large panel of specialist repairers in the event of an accident.
- Have a high of security awareness. Due to the risks of theft and hijacking prevalent in South Africa, it’s crucial to ensure that your luxury vehicle meets all required security measures to maintain insurance validity and protect your investment.
Investing in a super car is more than a purchase—it’s a commitment to excellence and preservation. Whether for pleasure or investment, each super or classic car requires a bespoke approach to maintenance and insurance, ensuring that its value and performance are never compromised.