2023-04-26 06:00:04
Where do Poles invest their financial surpluses? Most often, we invest in classic instruments, i.e. bank deposits, we keep our funds on ROR accounts, but at the same time we show more and more interest in alternative forms of investing, e.g. in classic cars, oldtimers. – According to our research, classic cars defend themselves. In the last 10 years, the value of these cars in Europe has increased by up to 150%. – tells us Ronald Kulikowski, Volkswagen Bank. See our video material.
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Where do Poles invest their financial surpluses? Every second respondent in the study “Alternative investments through the eyes of Poles” commissioned by Volkswagen Bank stores them on account (54%) or deposit in the bank (44%). More than a quarter of people (27%) hold them in cash at home. Every sixth (17 percent) admits that they invest their savings in foreign currencies. On the other hand, every seventh (13%) uses investment funds and shares.
– Despite high inflation Poles invest their surpluses, explains Ronald Kulikowski in an interview with Strefa Biznesu, Managing Director of Volkswagen Bank GmbH Branch in Poland. As he explains, Poles most often invest in classic instruments, i.e. in bank deposits, they keep their funds in ROR accounts, but at the same time show increasing interest in alternative forms of investing, e.g. in classic carsoldtimery.
– This is a positive trend. More and more people are interested, if only because of a hobby or passion for these cars, but it is also a form of investing capital and protecting it – he says. – According to our research, classic cars defend themselves. In the last 10 years, the value of these cars in Europe has increased by up to 150%. – says.
As he explains, this is partly also due to the departure from the classic cars that are currently being produced. – It is also a form of self-presentation, a form of personality, a form of love for what was once produced – he lists. – It’s a different sheet metal, drive, smell, and above all, the feeling of driving through the city – he says.
– This market in Poland is still maturing. I think that here, when it comes to investing in classic cars, you need to know exactly what you want, what to invest in, where to buy and where to repair such cars – he explains. – Then it is a very profitable business, but there are many people who undertake such investments for their own satisfaction, mainly out of passion, not looking only at the money and return on such an investment – he sums up.
What are examples of alternative investments? According to almost 3/4 of Poles (73%) it is especially collector coins. Not much less, because 71 percent. pointed out paintings and works of art. More than half of the respondents (54 percent) associate alternative investments with classic cars. They were also high on the list Watches (46 proc.) and rare alcoholsnp. whisky (43 proc.).
The respondents were also asked to indicate which objects they consider to be attractive in the context of investment. Paintings and works of art (59%), coins (49%) and classic cars (34%) had the most answers. According to the respondents, the least attractive objects in the context of investments are, on the one hand, LEGO collections (9%), and on the other, electronic NFT tokens (8%).
For half of the respondents (52 percent), the main advantage is the opportunity to invest in what you like and the opportunity to develop your passion (51 percent). Almost every second Pole (43 percent) would like to protect their money against inflation in this way. For 1/3 of people (32%) it is a way to diversify their capital. Alternative investments are also associated with uncertainty, which was indicated by almost half of the respondents (47%). The same number indicated the difficulty in determining the market value of a given investment. Only 8 percent of respondents believe that it is an unprofitable investment.
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Most respondents (57%) believes that investing in classic cars is profitableInterestingly, 82 percent among them, having sufficient financial resources, despite everything, would not decide to invest in a vintage car. According to experts, the reason may be the lack of specialist knowledge about the classic market and the lack of space in which to store the car.
– In order to increase their investment value, classic cars should be kept indoors and weatherproof. Fortunately, investors are increasingly aware of this. We are seeing a clear revival on the classic car market in Poland. One of the proofs of the positive economic situation are the results we have achieved in our auction house. Last year we sold 67 classic cars, and in the first quarter of this year we successfully completed almost 30 transactions – says Przemysław Grygiencze, General Director of Ardor Auctions.
Grygiencze admits that we are still struggling with this “poster dream”. – The Mercedes brand is still king in Polandis in second place BMWand the podium closes Porschewhich is the real dream – he mentions. – Let us remember that you can find all kinds of Porsche models or versions that are within our reach – he adds.
– The next place is the English automotive industry with Jaguars and Mini Morris cars at the forefront. We are also very close to the Italian automotive industry – he says and admits that American cars appear somewhere, but certainly to a lesser extent. He explains this by the fact that models and brands from across the ocean “do not reach that wide yet”. – We see interest in Mustangs, Chevrolets or Cadillacs, which we associate with movies or various events – he admits.
The expert admits that the prices of “classics” can start from several thousand for the popular Saab 900, the so-called crocodile after Porsche, which fetch millions of dollars. “Two years ago we sold two DeLorean DMC-12s and one Spaniard bought them. We also received a collection of 15 cars after the deceased owner. Last year, an auction sales record was broken, Porsche 930 Turbo sold for 550 thousand. zlotys, he says.
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