Woulda, coulda, shoulda.
Those are the words of the second-guessing investor.
They could apply to Apple Inc. stock circa 1980 or pre-boom real estate, but they ring especially true when it comes to collectibles that could have been bought at one time for relatively little, enjoyed and eventually sold for a big gain. Think museum-quality arts and crafts from makers such as Tiffany, as well as cars.
Just about anyone who fancies himself a car buff will tell you they make a pretty poor investment. But prices are taking off for unique collectible autos.
In May, an apple-green Ferrari 250 GTO made for racing legend Stirling Moss sold for $35 million, and a 1958 Ferrari 250 Testa Rossa that Phil Hill drove to victory at Le Mans went for about $25 million.
A Ford GT40 Le Mans racer driven by Jacky Ickx in 1967 — a car sold for about $35,000 in 1983 — is expected to draw bids of about $8 million during one of the auctions that coincide with the Concours d'Elegance at Pebble Beach, Calif., the most prestigious car collector event in the world, held Aug. 19.
The auctions will feature makes and marks from domestic and foreign automakers spanning 100 years of manufacturing, but “Italian” and “red” are common themes.