A car’s value

A car’s value is determined by the price someone is willing to pay for it. Some vintage cars, like the 1963 silver-blue Ferrari with the plate number 250 GTO, can be worth millions of dollars. This car, which sold for $70.2 million (USD) in 2018, has never been in a crash and doesn’t need any restoration work. Its pristine condition, combined with its history as the winner of the 1964 Tour de France car race (not the bike race), significantly increases its value.

While some vehicles are valuable due to their rarity and condition, others become valuable because of their owners. For instance, a car that Princess Diana drove in the 1980s was sold for 650,000 pounds (USD 800,000) at an auction near London. From 1985 to 1988, Diana moved to the Ford Escort RS Turbo Series 1. She preferred driving her car with a security team member in the passenger seat. The car was initially manufactured in white, but she chose black to be more discreet. Ford added features such as a second rear-view mirror for her protection officer to ensure her safety. The vehicle has only driven just under 25,000 miles.

Having that sort of money to splash on cars would be nice.