When you are feeling a bit worn out by the uncertainty in financial markets, then alternative investments such as classic cars may be worth a second look. Consider this: a quintet of mostly 1960s-era Ferraris recently sold for an average of US$24.4 million (Dh88m). According to data from Bloomberg, vintage cars outperformed all major asset classes over a three-year period, including stocks, property, private equity and hedge funds.
While it’s clear that these cars have genuine horsepower when it comes to investment potential, there are caveats for local car enthusiasts. Cars that are more than 10 years old, for example, are ineligible for comprehensive insurance and although owners can get third-party cover, this is hardly reassuring given the high value and rarity of many classic cars. Many other countries offer special cover for classic cars. In a country where cars evoke so much passion, it’s time, perhaps, for insurers to offer similar options.
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
THE SPECS
Engine: 2.0-litre 4-cylinder turbo
Power: 275hp at 6,600rpm
Torque: 353Nm from 1,450-4,700rpm
Transmission: 8-speed dual-clutch auto
Top speed: 250kph
Fuel consumption: 6.8L/100km
On sale: Now
Price: Dh146,999
Farasan Boat: 128km Away from Anchorage
Director: Mowaffaq Alobaid
Stars: Abdulaziz Almadhi, Mohammed Al Akkasi, Ali Al Suhaibani
Rating: 4/5
Business Insights
- Canada and Mexico are significant energy suppliers to the US, providing the majority of oil and natural gas imports
- The introduction of tariffs could hinder the US's clean energy initiatives by raising input costs for materials like nickel
- US domestic suppliers might benefit from higher prices, but overall oil consumption is expected to decrease due to elevated costs
UAE currency: the story behind the money in your pockets
MATCH INFO
Uefa Champions League final:
Who: Real Madrid v Liverpool
Where: NSC Olimpiyskiy Stadium, Kiev, Ukraine
When: Saturday, May 26, 10.45pm (UAE)
TV: Match on BeIN Sports
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
Killing of Qassem Suleimani
Squid Game season two
Director: Hwang Dong-hyuk
Stars: Lee Jung-jae, Wi Ha-joon and Lee Byung-hun
Rating: 4.5/5
