Antique car investment set to boom in China

Earlier in December, the State Administration of Culture Heritage held the first antique car-collecting seminar in the Shanghai Auto Museum, which was attended by collectors, experts and museum directors, in a bid to promote antique car collecting and culture in China.

In October, the German automaker Volkswagen AG held an antique and classic car rally from Beijing to Shanghai. The company shipped its 1930 8-liter Bentley, Lamborghini 400 GT, 1975 2.7-liter Porsche 911, 1956 Volkswagen Beetle Miglia Mile and 1972 Beetle Salzburg Kfer from Europe to participate in the rally.

The company hoped to attract attention and arouse more public interest in antique and classic cars from Chinese car fans along the 1,600-kilometer journey.

"For new Chinese collectors, my suggestion is paying attention to auctions for famous brands. Support and help from professionals is also necessary," said Wade. "Just as with rare and ancient antique collecting, investing in cars carries risk."

In 2011, Beijing Poly International Auction Co, the fastest-growing Chinese auction house, sold five antique cars at its spring auction, the first such auction in China.

"Buying cars at an auction house in the United States and Europe is a good idea, though transporting the vehicles back to China will be difficult due to import regulations," said Wade. "And the high maintenance costs and lack of antique car mechanics in China are also challenges."

Wade also emphasized the development of China's luxury vehicle and sports car culture.

"It's also a key element for China's automobile industry to catch up with Western markets in those areas."

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