9 Classic Cars That Are Popular Among the Rich
Although household incomes have grown modestly this century, gaps in income and wealth between richer and poorer households continue to widen. While inequality will always be a hot button issue in the U.S., the mention of it does get one thinking of disparity on a social spending level. Do rich people prefer different cars than the average American?
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We know that many of the richest people in the world remain near the top of Forbes’ Billionaires List because they don’t waste their wealth on things that depreciate and don’t add value to their fortunes, investment portfolios or philanthropic endeavors.
For years, Mark Zuckerberg (Meta), Larry Page (Google) and Jeff Bezos (Amazon) were seen driving around in their Honda Fit, Toyota Prius and Honda Accord, respectively. Warren Buffett has long been driven around in a modest Cadillac.
What Do Wealthy People Drive?
But some rich people love their toys and are discriminating in their taste of ride. Preferences in cars seems to fall into two groups of rarer vehicles: newer ultra-swanky luxury models and vintage classics that are iconic regardless of their age.
According to CNN, as the rich get richer, business booms for upscale automakers like Bentley, Ferrari, Lamborghini and Rolls-Royce, despite wider economic wobbles. Last year, Ferrari increased its revenue by 17% and Lamborghini sold more than 10,000 vehicles, its biggest annual total ever.
The reason? “Personalizations, customizations, have actually been the key driver behind the better than expected earnings throughout the year,” said Javier Gonzalez Lastra, investment partner with luxury goods investment fund Tema ETFs.
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A One-of-a-Kind Ride
Personal customization is being offered to the relatively small group of buyers who want one-of-a-kind rides, and to whom money — like paying two or three times an already high MSRP — is no object. Meanwhile, collector cars have gone from affordable restorations to “sought-after old money style cars,” according to Streetstylis.
Wealthy car enthusiasts typically gravitate toward expensive, luxury brands (BMW X5, Cadillac CTS, Audi A4, Lexus RX 350, Genesis, Lexus, Porsche, etc.), high-end performance models (Corvettes, 911s, etc.) and the latest and greatest on the market (higher trim EVs right now).
Here is a mix of 9 classics and modern classics that are absolutely affluent-approved.
2000 Aston Martin DB7 Vantage
Price Range: $30,313-$77,000+
How old does a car have to be to be considered a “classic”? This Aston Martin DB7 Vantage is almost 25 years old, which is plenty of time to build a solid vintage reputation. According to Classic.com, the average price of the three DB7 Vantage’s for sale now is $30,313, however, the top sale listed is $77,000. Hagerty has a wide price range for 1994-2004 DB7s, from $13,811 to $418,656. Regardless of sale price, you’ll likely be spending more to restore this beauty to its original condition for full effect.
1959 Rolls-Royce Silver Cloud II
Price Range: $39,000- $600,000+
Wanna drive what Beyoncé drives? According to HotCars, she and husband Jay-Z have an extensive car collection that includes a “McLaren-Mercedes SLR, a Pagani Zonda F, and the only Maybach Exelero in existence.” It also include a Silver Cloud II, which Jay-Z bought for Beyoncé for one of her birthdays — costing a reported $1 million. You can expect to spend around $40,000 for one in fair-to-good condition and upwards of $600,000-$700,000 for one in concours (perfectly clean) condition.
2024 Bentley Continental GT
MSRP: $250,000-$345,000+
The definitive British luxury car company has been owned by Volkswagen since 1998, but North America is the brand’s biggest market. Like most hedonistic comforts, the Continental GT is perfectly weighted and responsive as they’ve always been, the perfect vehicle for those who love to drive and discreetly turn heads.
1965 Jaguar E-Type
Price Range: $65,600-$355,000
When Jaguar unveiled the E-Type in 1961, it was an era-defining game-changer. With its glamorous looks and unheard-of-at-that-time performance, wealthy folk and collectors alike love any E-Types from the 1960s or 1970s. According to Magneto, 67,300 E-Types were built, yet they command strong prices on the used market. In fact, 1965 coupes should cost you between $65,600-$282,000 and roadsters $76,500-$355,000.
1955 Cadillac DeVille
Price Range: $25,300-$70,000+
Cadillacs in the 1950s were favored by the young and old alike for their style and comfort. Conceptcarz has the median sale for a DeVille at $25,300, but Classic Cars and Hagerty put top sales at $88,000 and $220,000, respectively. It’s probably closer to $70,000 or $80,000 according to a quick consensus search.
1990 Mercedes-Benz 500E
Price Range: $20,000-$80,000
Benz’s are favorites among the rich, but the E-Class quietly screams class, and the 500E is a popular choice among the elite due to its exclusivity (only 10,879 copies of the W124 500E were ever produced). Mercedes calls it a “young classic,” sought after by collectors the world over. Streetstylis calls attention to the 500E’s year one model from 1990.
1965 Chevy Corvette
Price Range: $49,500-$90,200+
The quintessential American sports car is a favorite of many wealthy people and celebrities, including Robert Downey Jr., who drives a gorgeous 1965 Corvette convertible. Although you might be able to snag a beater for a few thousand, Conceptcarz lists the Corvette’s C2 value at $49,500 (good) to minimum $90,200 (perfect).
2024 Rolls-Royce Phantom Series II
MSRP: $505,750-$662,750+
Few car brands define extravagant luxurious motoring like Rolls-Royce — and few cars can provide quiet-power like RR can. You’ll be paying a minimum of $505,750 for a base model, according to Car and Driver. However, Rolls-Royce’s site exhibits a sign of the times: It has a commission option tab for those who want to customize to their heart’s desire.
1957 Ferrari 335 Sport Scaglietti
Price Range: $36 million or more
This one isn’t really a fair entry. This is a car that is popular among only the richest collectors in the world. Only four of the 1957 Ferrari 335 S Spider Scaglietti were ever made — and one is the most expensive car ever to be sold at auction, for $36 million in 2016, as Time detailed.
Still, that Powerball ticket just might hit someday and when it does, the dream of owning one of the most limited and costly cars ever can come a little closer to reality.
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