How to make money with $ 25k
By Simon Lambert for Thisismoney. If you want something sensible buy an anorak. The completely restored 1. The Peugeot 1. The sale at Anglia Car Auctions to an unnamed buyer, described only as a serious collector of Ferraris and Bugattis who owned a GTI when younger, is yet another sign that iconic hot hatches are firmly cementing their place in the classic car market.
And the auction result - made public in a way that private and dealer sale prices aren't - confirmed that Peugeot's much-loved GTI is in the ascendancy. The cherry red Peugeot 1. Originally a low mileage car, which had done 44, miles and had five owners, the GTI went up for sale with a recorded mileage of just 5 miles — the clock having been reset at restoration.
The GTI sported classic s styling inside and out, with a mix of red and black heavily used. The GTI came with two choices of engine, either 1. The record-breaking GTI sale is the culmination of a year of intense interest in the hot hatches, which have stepped out of the realms of fans forums, into classics-to-buy round-ups and even onto the front pages of glossy car magazines.
Originally marketed to the s yuppy generation, many then suffered as values tumbled in the s and early s, with just a select band of enthusiasts keeping the fires burning. In the past couple of years this has stepped up substantially. Hot hatches are now hot property. The Peugeot GTI is now following the Mark 1 Golf GTI and Lancia Delta HF Integrale into the world of classic car collectors.
A generation of buyers in their 30s and 40s are now chasing the cars they either owned or always wanted when younger - and those with with deep pockets are sending the prices of the best examples climbing.
That includes collectors at the top end who are looking for either low mileage, single owner cars, or completely restored cars with wads of history. One of them is rumoured to be Chris Evans, radio star, new Top Gear host, and famous classic car collector, whose garage that already included Ferraris worth millions of pounds now reportedly also contains a GTI.
The GTI's rise over the past two to three years is an almost stereotypical case of a rising modern classic. It was never difficult to find a GTI fan, but the cars had fallen far from the limelight. Slowly that started to change and interest began to pick up, with GTIs grabbing column inches and pictures here and there in the classic car press.
The next chapter in this classic car story came with glossier features in car magazines and online and then the weekend supplements featuring cars too. BMW E30 M3s, Mark 1 VW Golf GTIs, Capris and other Fast Fords had followed this same trajectory ahead of the GTI.
In fact, despite Golfs, Lancia Delta HF Integrales and Ford Escort RS Turbos and Cosworths outstripping GTIs so far in value, it is the Peugeot that is often considered the best of the bunch. That was reflected in a poll by Pistonheads and Autocar which awarded the Peugeot GTI the accolade of best hot hatch ever earlier this year.
Yet the rise in prices has come with some concerns.
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Some of those expressed by members on the GTI Drivers forum, include worries about the rising cost of parts, the increased risk of theft, cars being garaged away and fans being priced out of owning them.
Prices are now pretty much double that. They could, of course, fall from here. The classic car market certainly looks a bit bubbly, but over the long-term the GTI looks to be on the up. Peugeot's adverts for the GTI in its heyday promoted its sporting and fund character. So why did I buy a GTI, despite them becoming more expensive? It was the car that I always wanted. I owned a bog standard as my first car and loved it, and just under a year-and-a-half ago I bought a black H-registration 1.
I bought it to drive it and enjoy it. And there are a few more things that I intend to do to it that are sure to eat up any rise in value over the next year or so. Simon Lambert's GTI is a further down the classic ladder than a mint restoration. I haven't been disappointed to meet my hero.
It is an absolute joy to drive. People also love it. It's an icon just like its famous s hot hatch brethren. Then they would be all but out of reach of normal people, who will buy them and enjoy them as they should. That stock market courses leeds not make sense when it comes to keeping the value of a freshly restored car, but if he wanted to be sensible he would have bought an anorak.
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