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Filed under: Car Buying , Time Warp , Trends , Auction Action , Earnings/Financials Click above for a high resolution gallery Shelby's personal '69 GT500 Those who follow the classic car market are probably not surprised to hear that prices of vintage Detroit iron, especially those cars from the muscle-car era of the mid-'60s to early '70s, have shot up in the last several years, outperforming both the Dow Jones Industrial Average and the S&P 500 Index, according to NADA Guides . Classic cars valued at over $125,000 performed the best, on average, by appreciating 47 percent between February 2004 and February 2008. By way of comparison, collectible cars in general increased in value at an average rate of 36 percent. Sounds like a good rate of return to us! For those interested in the collector car market but who don't have deep enough pockets to afford some of these high prices, NADA Guides' research shows that the market has begun slowing in the last year and...
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Filed under: Auction Action , Etc. , Earnings/Financials , Lifestyle Some records stay in place for a while, and some are shattered regularly. Records set for obscene spending on frivolity never seem to stay put for very long, however, as there's always someone with more cash to blow on something ridiculous. And so it transpires that after tuning magnate Afzal Kahn paid $870,000 for the F1 license plate in the UK , Arabian billionaire Saeed Abdul Ghaffar Khouri dropped the equivalent of $14.5 million on UAE license plate number 1. If that seems like a big hunk of cash for a registration number, consider that Khouri, who has yet to decide on which of his assuredly many vehicles he'll mount the plate, was prepared to spend over twice that much - 100 million emirate dirhams, or $30 million - on the plate. The sale took place at an auction in Abu Dhabi, the proceeds from which are earmarked towards assisting victims of traffic accidents. At least it's going to a good cause, then...
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