Are classic cars a sound alternative investment?

Classic cars may be more than just a fun hobby as some vehicles fetch a high price tag, but the 2024 Monterey Car Week saw somewhat weak auction sales from what was expected: $392 million vs. estimates of $459 million. So is this a sound investment that should be added to your portfolio?

Yahoo Finance senior autos reporter Pras Subramanian joins Wealth! to give insight into taking on vintage and classic cars as an asset class.

Catch up on Pras's coverage of the 2024 Monterey Car week:

Monterey Car Week: Unrestored Bugatti wins top honors; auction action hits speed bump; new luxe cars debut
GM's Mark Reuss talks Cadillac's EV game plan, the company's second-half outlook, and the return of the Corvette ZR1
Lucid CEO: We've taken the mantle from a 'distracted' Tesla
Lamborghini CEO talks new hybrid supercar and the 'YOLO' effect boosting sales
GM President Mark Reuss talks Cadillac, luxury EV outlook, and the Corvette ZR1

For more expert insight and the latest market action, click here to watch this full episode of Wealth!

This post was written by Nicholas Jacobino