Recent Media Appearances
Auto collectors driving demand for car clubs, museums, and space — The Palm Beach Post
This article points to what’s happening in Palm Beach County around the classic and collectible automobile lifestyle. Values in collector cars fluctuate like all assets, but the interest from this perspective is a by-product of the explosion in ‘experiential’ spend.
This storage approach, which has been going on for some time and we are seeing globally, is one more option (with proper due diligence of course) to facilitate the holding cars of merit in the right space, with the right exposure.
Chrome Strategies Management is proud to be a sponsor at The Business of Art Observed in New York on November 12, 2019
From our perspective, we know that great cars evoke similar responses from owners and admirers as does great art. In fact, we suspect that on a global basis, more people appreciate great cars because they are a visible and integral part of daily life vs great art. In the last 5 years specifically, these two asset classes have also narrowed in terms of their economic value as well as crossover in ownership. We believe that it is important that professionals who are advising their clients, work to get a better understanding of the classic car asset class that we specialize in, and incorporate best practice approaches in the management and care, as they do with fine art.
M. Peter Neumann quoted in: Luxury Investment Index – Classic Car Special Q2 2019 – Knight Frank- October 12 2019
Knight Frank research, well known for their widely read annual Wealth Report, quoted CSM’s CEO Peter Neumann in this recent Luxury Research quarterly report. This interim report was published in conjunction with the Americana Manhasset Concours D’Elegance which took place in Long Island, NY on October 13, 2019.
Our view which was mentioned in brief here, is that we observe, and continue to expect, the outperformance from a value perspective, of classic and collectible automobiles that have desired differentiations due to a variety of intrinsic factors, versus the broad universe and large pool of cars in this sector. This observation is corroborated by lower cleared average prices at auction, versus continued record prices set by ‘special’ or ‘unrepeatable’ examples. Aside from this value comment, we also mentioned that we see continued growth in the hobby and ‘lifestyle’ elements among collectors and enthusiasts. The industry is expanding in many ways. This includes planning around this asset class especially when the collection represents materiality in individuals/ family overall investment portfolios.
Steve Linden quoted in : Classic Cars: Passion or Profit? : Pall Mall Art Advisors – September 25, 2019
CSM’s comment in this article published by Pall Mall Art Advisors, a firm which focuses on tangible asset management, was that interest in the “Preservation Class’, or ‘Survivors” continues to grow. Survivors can generally be described as those that are running and usable, and are in unrestored condition, notwithstanding consumables such as tires, belts, hoses, etc. Owners often face the decision whether to maintain the car in its current condition or undertake full or partial restoration. In many cases that answer is quite clear, in others there can be a debate. Much of this rests on the rarity and the provenance of the automobile and how values might be affected by the different routes taken.
Steve Linden featured in “New Parts for Old Cars May Keep Them Running, but Sink Their Value.”
By Roy Furchgott
“Classic cars have dropped down the grid in the Knight Frank Luxury Investment Index, but collectors are still spending big for the best machines.”
Andrew Shirley — Wealth Report Editor
KFLII “cars” index down 1% in 12 months, up 91% past 5 years, and 288% last 10 years.
Steve Linden Featured on CarsYeah Podcast
March 21, 2018
Listen to Steve discuss cars and car collecting.
Chrome Strategies Featured in Knight Frank Concours D’Elegance Special
October 8, 2017
“When I was growing up there were two great streets in New York where I dreamed of living, Fifth Avenue and Central Park West. Even if the market dipped those were the ones that were best placed to recover,” explains Peter Neumann, CEO of New York-based fund and investment consultant Chrome Strategies Management. “It’s the same with cars. Of course there is elasticity in the market, but we’re still very positive for those really special cars.”
Join Steve Linden at a Very Special Event
Join Steve Linden, Co-Founder and CIO of Chrome Strategies Management LLC at HAGI’s Value in the Classic Car Market (VCCM) Conference. This premier event is run in conjunction with Concours South Africa and will take place on August 3-6th 2017 at the Gary Player Club in Sun City.