Collecting Cars Is Irrational and Inconvenient. Here’s Why It’s Also Essential.

Yet cars are one of the most popular and visible collecting hobbies. When we reach a certain age and have the means and space to buy and store a nonessential vehicle, many of us do—even those who weren’t die-hard car enthusiasts before. The luxury-automobile broker Max Girardo once advised me to buy the cars that people about to turn 40 had posters of on their bedroom walls as teenagers, because that’s often what people start to collect as soon as they’re able.

The history of the great car collections is fascinating, not least because buying them in large numbers isn’t remotely rational. The largest hoard is undoubtedly that of the Sultan of Brunei and his brother Prince Jefri. It has been reported to contain over 7,000 vehicles, with media leaks suggesting that maintaining such a vast armada is beyond even the Sultan’s near bottomless pockets, many of them now in poor repair.

In the U.K., Lord Brocket, a former polo-playing pal of King Charles III, acquired a smaller but equally well-curated cohort of around 40 vehicles, mostly Ferraris and Maseratis from the ’50s and ’60s, bought with cheap financing back when classic-car prices were spiraling. When interest rates rose and values crashed in the early ’90s, he panicked and staged a break-in at his stately home, disassembling the cars he claimed had been stolen and seeking $5.6 million from his insurers.

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