The insider’s guide to buying a classic car

What should you look out for when buying a classic car? Scarcity and legitimate provenance are obviously key factors. But there is something far more important. “Buy what you’ve always wanted,” says Iain Tyrrell, the Chester-based oracle of vintage cars. Iain presents his YouTube show Classic Workshop from Tyrrell as he bends over a magnificent V12 engine and compares the sound of one cylinder to the next in his workshop. “There is too much emphasis on investment. Research on the Internet, of course, select a model and have it appraised by a classic car expert. But don’t let your head rule your heart; Every purchase should be 50 percent head and 50 percent heart.”

I could fall in love with any of the cars photographed for these pages at this year’s Goodwood Revival, but if you get me to the point, the BMW 3.0 CS Coupe is a wonderful place to start. Graceful and sleek, it really is a BMW and not one of those ’60s Italian rarities designed by a coachbuilder like Carrozzeria Scaglietti. The BMW 3.0 CS Coupé, E9 Clubsport for short, is one of the most elegant two-door coupés that BMW has ever built. Its designers Wilhelm Hofmeister and Manfred Renn were inspired by the 3200 CS designed by Giorgetto Giugiaro. The body of the 3.0 CS was built by Karmann and gave rise to the lightweight CSL street version and the highly successful CSL racing version. The six-cylinder M30 engine in the CS coupé delivers 180 hp, while the CSi has 200 hp. A BMW expert should check for blown gaskets causing head cracks. All suspension struts and bushings may also need to be replaced. If it feels sluggish when driving, a worn camshaft could be the culprit. Check the complex braking system and for oil leaks and rust. Today, a 3.0 CS coupé in good condition will cost around £120,000. If you are seduced by looks and image, a smaller 2.5 CS coupé is available for around £50,000.

“The classic car market is volatile,” explains Tyrrell. “One moment a star in a Hollywood movie is driving an MGB and everyone wants one. Cars come and go from grace.” He emphasizes that a car with flair and beauty is a good choice, but has a firm eye for quirky creations. “Quirky cars can be a double-edged sword.” So what would Tyrell suggest as a great first classic that’s going to be fairly reliable? “A Porsche 911 has great appeal. Parts are easy to come by and the car should rarely lose value.”

Maybe you fancy a pinch of fascinating beauty? Consider Maserati’s Ghibli coupe, which takes its name from an Egyptian desert wind. The 15.4 foot Ghibli and Ghibli SS were produced between 1967 and 1972 and again designed by Giorgetto Giugiaro. What we have here is a 2+2 two-door coupe powered by a 4,719cc V8 and producing 330 hp – or 5 hp more in the larger 4.7-liter engine than the SS version. Drive one of these today and expect the continuous sound of soft whistles as you drive by. With its sleek cabin, five central clocks recessed into the dashboard and a long bonnet that rises and falls under acceleration, this is a beautiful car. If you are considering one, make sure it has a fully documented history detailing the chassis, body and engine service from new. Opt for the 1969 version with the four Weber 42 DCNF carburetors as it is easier to service. It’s also worth finding an example of the car with ZF power steering, which helps when handling such a large car at low speeds. Ubiquity is unlikely to be a significant issue as Maserati only made 779 examples of the standard car and just 425 of the SS model. The sensational and very expensive Spyder is even rarer with 125 examples. Expect to pay upwards of £200,000 for a good Ghibli coupe and almost £300,000 for a pristine one.

Maybe you want to take your classic passion to the race track? The official Alfa Romeo 1750 GTA cars were built by Autodelta at Settimo Milanese, which had been acquired by Alfa as the official racing manufacturer in the 1960s. It was powered by a 1,985 cc four-cylinder Spica setup with dual spark and indirect injection that produced 210 hp at 7,500 rpm and reached 230 km/h. The little racer weighed only 940 kg and was a further development of the GTA model. At full throttle, the GTAm growls and barks like a cornered wild animal. It’s easy to tell the car apart from the GTA version as it has added chunkier wheel arches riveted to the steel body to accommodate the fatter racing tyres. Only 40 true GTAm cars were produced and would change hands for sky-high sums of money, but converted examples provide a good bridge for sub-£100,000 circuits. If undeniable provenance and history are important to you, an original Autodelta-built Alfa Romeo GTAm would be a uniquely valuable possession.

“Be as pragmatic as possible when buying,” recommends Max Girardo, the UK and Turin-based authority on car sourcing for global buyers. Girardo worked at RM Sotheby’s for a decade as principal auctioneer and also head of European operations before founding his own classic car brokerage firm – Girardo & Co. in 2016. Girardo has seen rarities change hands at auction for colossal sums of money. Still, his advice is encouragingly egalitarian. “Always buy the best you can afford—whether it’s a Fiat 500 or a Ferrari California Spyder.” When it comes to allowing your heart to influence your head, he’s a little more circumspect than Tyrrell. “Never get emotional,” he says. “Maybe you wanted a blue Fiat Dino and rushed off to buy it, only to find the engine was knocking or not running.”

I ask him what’s hot on the market right now. “The biggest movement in the market is cars from the 1990s and 2000s. A Renault Clio Williams could be the car you wanted when you were 18, got a new license and couldn’t afford one.” Perhaps not surprisingly, he also cites Ferrari as a perennial investment favourite. “Ferrari is an emerging brand. You can even get your money back on a Ferrari 348, while a 599 Fiorano or a 612 won’t go down in value. The hottest ticket now is modern supercars – a Ferrari Enzo or a Porsche Carrera GT, whichever one everyone wants.”

Girardo points out why now could be a good time to hunt down your dream classic. Recession fears with rising interest rates are keeping the courses firm for the time being. “The market is super stable,” he says. “Prices are not increasing, but remain stable.”