There are more and more historic vehicles in Poland. Collectors combine passion with investment
The historic vehicle market in Poland is developing very dynamically. Domestic collectors have about 50,000 cars, and their number is growing all the time. With the development of this market, there are more and more companies that earn money from the collector's passion of Poles. These include services and insurance companies.
Historic vehicles are mainly cars and motorcycles, although among collectors there are also collectors of old tractors, locomobiles, tanks or steam locomotives. Collecting automotive monuments is generally an expensive hobby, although most old vehicles tend to gain in value with age. For collectors, however, potential profits are not the main target.
- The market of classic cars is still growing, because these cars are different from modern cars - says Newseria Biznes news agency Dr. Piotr Majewski, expert of the School of Banking in Toruń. - Sometimes they are made by hand, they have beautiful details, they are said to have a soul. I think that this reflects the general trend of looking for old objects that are significantly different in aesthetics from contemporary objects.
Collecting old vehicles does not have to be expensive. In this market, a distinction is made between youngtimers and oldtimers. The former generally cost a little less. These include 30- and 40-year-old vehicles, which can sometimes be bought for several hundred zlotys. It is practically impossible to set an upper limit, as the most expensive automotive monuments cost tens of millions of dollars today and their prices are constantly rising. Last year, more than $38 million was paid at auction for a 1962 Ferrari 250 GTO. This is a record amount that was spent on a vintage car, but in collectors' garages there are vehicles that were paid for slightly less 5 or 10 years ago, and as long as they do not get to the market, it is impossible to estimate how much more investors will be willing to pay for them.
- Some cars have certain individual qualities that make people want them, either they are simply pretty or have been owned by someone known," explains Dr. Piotr Majewski. - It is possible that they took part in some famous film productions or are positively associated because someone had such a car in their childhood. It is difficult to define clearly, but most collector's cars were once sports or luxury cars.
It is estimated that there are over 1.5 million vintage cars in Europe and the growth rate is double-digit. There are many people working in the vintage car industry who repair or trade them. This service part of the market is slowly being created also in Poland.
- We have a whole industry for repairing, refurbishing and keeping cars in good condition. Historic cars are no longer produced, so there may be problems with obtaining spare parts. Some of the technologies in which they were made have already come out of use and there is a problem with finding professionals who could do it - says an expert from the University of Banking in Toruń.
There is also a growing offer of insurers for collectors.
- Recently we have autocasco insurance products on the market, because some of these cars cost a lot, so they can already be insured - emphasizes Majewski.
Historic vehicle is a perfect combination of hobby and investment. You don't really miss out on a well-thought-out purchase, and there are many opportunities to use such a car or motorcycle. Many rallies, shows, competitions and collector rallies are held both in Poland and in the whole Europe. You can participate in exclusive tours, staying overnight in historic castles and palaces, compete in collector's competitions or take part in military reconstructions together with other enthusiasts.
- In Poland we have about 50 thousand of such cars, and their number is growing very fast, because it is becoming a very fashionable activity - emphasises Dr Piotr Majewski. - Modern cars do not meet the expectations of older car lovers. The owner of a classic is usually a man, although there are also many ladies in this group.