Vintage vantage

MONEY MAKERS 2005/ ALTERNATIVE AVENUES

It takes a connoisseur to recognise a diamond in its raw form. Vintage cars, if rightly picked, are worthier than priceless diamonds.

This investment option is for those whom cars are madness. These gentlemen seek cars for love and not for money. But nobody denies that their cars have greatly appreciated in value.

But they prefer to see the appreciation in value as a side effect. Among the hi-fliers liquor baron Vijay Mallya and industrialist Pranlal Bhoghilal are known to be avid collectors besides the blue blood.

The Pranlal Bhoghilal collection is one of the finest stock of vintage cars in India. Bhoghilal's list of cars include a 1937 Maybach SW 38, one of the two ordered by the Maharajah of Kota, Rajasthan.

There is also a French 1906 Mors, a couple of Rolls Royces, a 1927 Phantom and a Silver Ghost. Rubbing shoulders with the vintage Bentleys and Mercedes models is a 1958 Cadillac which was bought to India by the Kuwaiti royal family.

Aniruddh Kasliwal, co-owner of S Kumar's is another vintage car enthusiast. He started collecting antique cars in 1993, beginning with a unique Jamnagar State Mercedes in a pretty rundown condition.

In fact, the owner was happy to part with it for free. After refurbishing it with genuine spare parts, the car is virtually priceless, says Kasliwal.

He has not looked back ever since and his fleet of nine antique cars includes a 1952 Cadillac belonging to the Maharaja of Gwalior, a Rolls Royce Silver Shadow, a 1946 Packard and a 1947 Studebaker and the epitome of classic cool, the Volkswagen Beetle. Kasliwal has a team of 12 people to tend to his fleet and drives his cars himself.

Experts say one could buy a good classic car for a couple of lakhs and the general price point for buying would range between Rs 2 and 8 lakh. Austins and Morris models are to be avoided and preference should be given to late 1930s and early 1940s models.

Also, it would be a bonus if the car belonged to royalty. Maintenance costs per car should not work out over Rs 25-30,000 a year, says Kasliwal. "A well-picked and maintained car could be literally priceless," says an expert.

Where do you look for one? Experts warn against unscrupulous agents and middlemen who may pawn off a 'lemon'. Instead, they say heritage clubs and vintage car rallies are a much better option.

"Selling a well-maintained vintage car is akin to marrying off one's daughter," says an enthusiast.

There is a background check to make sure that your intentions are 'honourable'. This is because in some cases, body parts of a certain model may fetch more money than the whole car- sacrilege to die-hard enthusiasts. Ready to get hitched?