With unspectacular returns from traditional investments, the collectors’ car market is looking increasingly attractive.
The appeal is easy to understand. These are tangible purchases that can provide a better return than many more commonplace financial products. That they can be driven, raced, exhibited or put to work only adds to their allure. Perhaps most temptingly, any profit earned from a sale tends not to attract capital gains tax.
As with any developing market, there are riches to be made and lost. Level-headed investors would not dream of investing in property without consulting a lawyer and making all the necessary searches. Yet wheels and an engine all too often make the heart rule the head.
We are not only lawyers but also enthusiasts. Our expert legal and specialist insight will help steer you away from expensive mistakes – or help you if the worst has happened.
We offer knowledgeable, timely advice on aspects such as:
- Breach of contract: during the sale a seller or buyer fails to do what they promised; or repair or restoration work, typically relating to quality of workmanship or the cost.
- Misrepresentation: where a car turns out not to be what the seller told the buyer, in terms of provenance or quality.
- Disputes with agents acting for a buyer or seller (or both) who have not behaved as they should.
- Disputes about who has title to a particular car, when two or more people claim to own a single car or two people each claim the same provenance for a car they own.
- Disputes with auctioneers, where something has gone wrong in the auction process.