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Entering the classic car market 30-Jun-2015

With classic car prices continuing to soar, more and more people may be tempted to enter the classic car market. Last year a Ferrari 250 GTO sold for a record-breaking auction price of 22.7million to an American collector, however, you don’t always have to pay over the odds for a classic car.

James Knight, head of Bonhams’ motoring department said: “What’s great about the classic car market is that despite the record prices, it’s not exclusively for the very wealthy. I bought my own Austin-Healey 100 about eight years ago and paid £15,000. It’s now worth almost double that.”

Knight also stated that the increase in prices is not the same for every model, yet post-war classics like Aston Martins, Jaguars and Maseratis are among the favourites. Obviously condition is the most important factor when contemplating buying a classic model, and the more original it is, the better, according to James.

He said: “Try and buy a car in the best condition you can. You also want a classic that is original – not over-restored, or restored badly. Look for a full history, a regularly stamped service book and not too many owners. That’s a car that will always be in demand.”

If you’re tempted to break into the market, Private Number Plates has a comprehensive range of number plates to choose between, and you can add further class with a unique reg that stands out from the crowd.