Motoring with Paul Jolly: Classics line up at Olympia to kick start the 2023 season

The London Classic Car Show kick starts the 2023 season at Olympia London only a few short weeks after last November’s NEC show in Birmingham.

Again, there is a live auction of some 100 classics during the show which adds to the excitement.

This year sees the 60th anniversary of Porsche’s iconic and fabled 911 which took the motoring world by storm. Any 1960s 911 is likely to match Jaguar’s E Type on price and desirability today and the model is generally accredited with creating the sporting prowess the firm has to this day.

Indeed, the 911 is still on sale and must have one of the longest continuous production runs of any sports car made. It’s success at Le Mans and Spa is legendary and to own a Porsche 911 today is to be part of a very special family.

Values of classic cars are holding up extremely well and they are still deemed sound investments as an alternative to cash in the bank. Not only that but you can go out and use your prized possession when the weather permits.

There is also something very tangible about these portable investments and remember, if it is not part of a business, then they are free of any taxation on value uplift.

The car is deemed by HMRC as a ‘wasting asset’ and also it can be handed down the generations. No road tax, no mandatory MoT test and insurance at a fraction of that a normal car pays.

So what are you waiting for?

There are classic car auctions every month from March to November up and down the country.

A good place to start might be the online classic car auction sites such as carandclassic.com, who hold daily sales but spend time familiarising yourself with the process first before jumping straight in.

Everyone loves the MGB with its brilliant parts availability and club scene or what about an original Mini or Ford Capri?

Just clear some space in your garage and have some fun this year. You never know, you might even make a handsome profit!