Editor’s Note: This piece originally ran in our sister publication, Wealthy Retirement. You can go here to subscribe if you haven’t already. It’s free.
I stumbled onto the best-performing asset in my portfolio by pure chance…
Its value has increased by 800% in the past dozen years or so. And it’s also the most fun asset I own. That’s a hard combination to beat!
From a young age, I’ve had a need for speed.
I rode my bicycle fast. I loved sitting next to my brother as he whizzed around town in a Datsun 240Z. And I lost my license for two years in college after racking up 24 points for speeding in my turbocharged BMW.
Over the years, my tastes in cars matured.
In the early 2000s, I was looking for a Porsche 911. Not a new one – mind you – but a used one. I’ve always enjoyed sports cars, and it was time to jump up to a whole new level of performance.
What I ended up with was a car that barely had 75 horsepower and would break the 100 mph barrier only if I was going down a very steep hill.
Zero to 60? Hardly… A Toyota Prius would leave me in the dust.
But it was a Porsche, and I fell in love with it. I had no idea that this Porsche 356 would be a sought-after collectors’ item a little more than a decade later.
I was not looking to collect. All I was looking for was a unique driving experience.
What I ended up with was the investment of a lifetime…
When the car arrived from California, it was almost totally rust-free.
That was a big deal.
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Prior to the mid-‘70s, most cars – Porsches included – did not use galvanized steel. That meant cars in certain climates were prone to rust.
The engine had just been rebuilt by a shop in San Rafael, and I had all the documentation of the rebuild on a CD – not that I really cared. I also got a huge binder full of receipts for the past 30 or so years. It went into that special filing cabinet where you toss stuff you’ll probably never look at again.
I drove the car everywhere.
Each time I sat in the car to start it up, the aroma of gasoline and leather was intoxicating. I would take it through a regular route, down some back streets, on the highway and get it nice and hot. It was no garage queen, and I really didn’t pay much attention to cleaning it up. (Under six coats of faded black paint, it didn’t shine anyway!)
Bottom line, I enjoyed the heck out of it. For a 50-year-old car, it was nothing short of an amazing ride.
Apparently, I wasn’t the only person who felt that way…
I paid $12,500 for that car. Recently, I turned down a six-figure offer for it.
That’s a gain of more than 800%.
The toolkit alone sells for more than $3,000.
It’s much nicer today. I did a complete bare-metal repaint 10 years ago and replaced the headliner, …read more
Source:: Investment You
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