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Collectibles Soaring in Popularity and Value
Passion investing — putting a percentage of your wealth into something you love — has become highly popular over the past decade or so. The concept is so well accepted that many investment advisors suggest that their clients allocate a fixed percentage — perhaps 15 to 20% of their wealth — to this investment category.
What’s a passion investment? Typically, it’s something you’d spend your money on even if you weren’t considering it as an investment, which then grows over time as the value of your collectibles increase. Here are some of the leading categories:
- Collector cars and motorcycles
- Coins, stamps and firearms
- Fine wines
- Historical collectibles
- Sports or entertainment memorabilia
For some, it could even mean buying a small winery or some vineyard acreage to indulge in a passion to produce their own wine. The point is: these are all investments in which you take a great deal of personal pleasure while you watch their value grow.
Collector Cars Racing Ahead with 500% Return
One of the fastest moving passion investments has been car collections. In a news report, CNBC’s Deborah Nason said, “Classic cars are gaining attention due to their nearly 500% returns over the past decade, outpacing art and wine by more than 100%, as reported by the Knight Frank Luxury Investment Index.”
The most valued nameplates include Aston Martins, Ferraris and Porsches, but lately a wider range of cars including American muscle cars and more recent models are showing solid gains for collectors as well.
The rapid appreciation in value has shifted cars out of the realm of casual collectibles and into a serious asset class. And just as you wouldn’t tuck away a Picasso or Rembrandt in your closet or keep a wine rack full of $10,000 bottles of Bordeaux in your front room, it doesn’t make sense to store even a modest collection of classic cars in friends’ garages or a dusty warehouse or ministorage unit.
Matching your Passion for Cars
Monterey Motorsport Park represents the next generation of specialized garage-condos perfectly suited for car collectors’ needs. The four-building complex located just off Hwy 68 adjacent to the Monterey Airport provides security-conscious, access-controlled storage plus a fun car-driven community — with many owners who share your interest in car collecting.
The exclusive, upscale facility has a total of 86 garage-condos ranging from less than 700 sq. ft. to nearly 2,600 sq. ft.
These garage-condos are ideal for car collectors with any size of collection, as well as RV or boat owners, or anyone who needs additional storage space for their business or personal items such as furniture from a vacation home, recreational equipment, or other items cluttering your home garage. Attractive features include:
- A stylish design with modern clean lines, stone wall treatments and welcoming entry canopies for some units
- Ceilings soaring up to 25 feet, with large roll-up doors for easily moving vehicles in and out — and a standard walk-in door for you and your guests
- Mezzanines 13 feet above the garage floor, accessible via an interior staircase. Many owners are planning to customize this space into an office or personal retreat — with a large-screen TV, sofa, wet bar, and more to enjoy their favorite races or sporting events.
- Blazingly fast fiber-optic-based Internet and cable TV options for web, TV and phone service
- Completely fenced complex with access-controlled entry gates, abundant lighting, video in common areas, and proactive remote guarding service from Elite Interactive Solutions
The best part is: just like the passion assets you’re collecting, your investment at Monterey Motorsport Park has the potential to appreciate in value over the coming years — like precious real estate on the Monterey Peninsula has done for decades. There are also tax benefits if you use the space for business purposes. As always, you should consult with your CPA or tax professional about the specific benefits you may enjoy.
Sales Surge Drives Inventory Down
With construction on the entire complex nearly complete and the start of a new year, there’s been a significant pickup in both interest and sales activity. The result is that Monterey Motorsport Park is now nearly 60% sold. So while there’s still plenty of selection to find your perfect unit, this may not last long.
To learn more and arrange a tour of fully completed Building A (with Buildings B, C and D soon to follow), contact our brokerage team:
- Josh Jones, Mahoney & Associates, [email protected], (831) 233-2196
- Ryan Clark, Cushman & Wakefield, [email protected], (831) 755-1635
- Dennis Chambers, [email protected], (408) 605-6760
You can also contact development team member, Gordon McCall, [email protected], (831) 372-9311, who will soon be moving his McCall Events business into the facility — or Ralph Borelli, [email protected], (408) 521-7117.