The price of gold rose about 10 per cent last year, albeit
retreating from a record high above $1,900 per ounce and up from around $285 a
decade ago. This surge has attracted many investors, but for some hard assets
such as classic cars, the price ascent last year told an enticing story, particularly for petrolheads with a few hundred thousand to throw around.

UK-based Historic Automobile Group International says
that some segments of the classic car market have advanced by more than 20 per
cent. Not surprisingly, this seriously impresses your glamorous correspondent.  

Dietrich Hatlapa, 48, HAGI founder and unashamed classic car
nut, says: “We’ve discovered that classic cars move independently of any other
investment area, and that’s a very attractive attribute for collectors and
investors alike in this day and age.”

The numbers do a lot of the talking.

The HAGI Top Index, measuring the performance of 50 key
collectible classic cars, advanced by 13.89 per cent in 2011. However, another
HAGI index calculation reveals a segment of the top market that rose by 21.65
per cent growth in 2011. This is the return offered by the HAGI Top with
Ferrari and Porsche removed. (In 2011 the HAGI F Ferrari Index advanced 10.58
per cent, while the HAGI P Porsche Index returned a more modest 4.53 per cent,
after strong growth in previous years.)

And for car enthusiasts who want more details, here are some
specifics. And remember, unlike a bar of gold, you can drive these things and
impress your friends and annoy everyone else:

Bentley R-type Continental Fastback by HJ.Mulliner, 1952-55
(208 produced): fine examples trading at £400,000 at the start of 2011 were
commanding £500,000-plus by year end;

-- BMW 507, 1956-59 (252 produced): £500,000 buys fine
example at start 2011; now £750,000 for best cars;

-- Mercedes-Benz 300SL Roadster, 1956-63 (1858 produced):
cars trading at £350,000-375,000 at start 2011 now selling at
£475,000-500,000-plus;

-- Aston Martin DB5 saloon, 1963-65 (1063 produced): prices
have advanced from £325,000 to £400,000-plus for fine examples;

 -- Jaguar XJ220,
1992-94 (281 produced): was £140,000; now £180,000-plus for best.

In 2011 Hatlapa published a ground-breaking 350-page book,
Better Than Gold: Investing in Historic Cars. It is certainly a pleasure to
make money from things you love.