As the Barret-Jackson collector car auction commences in Scottsdale, the Phoenix Business Journal tapped Pinnacle’s Founding Partner Lennard van der Feltz to share financial considerations for people interested in purchasing a collectable car.
Lennard suggested that buyers first evaluate whether the collectable car brings them joy. If it does, they should carefully evaluate its value before purchasing. If the buyer doesn’t have the financial means to support this hobby, it may not be the best decision long-term. He also encouraged people to think about what will happen to their collection when they pass away, noting they should leave it to a loved one who is interested in continuing to collect.