Old cars over 20 years old cost billions, Vietnamese players still eagerly hunt for them

Antique cars several decades old worth billions

Classic cars that are dozens of years old, carefully crafted to retain their ancient features and bear the mark of time, are always the center of attention, attracting the attention of many people every time they appear. The later they are, the rarity makes the value of the car skyrocket, possibly up to billions of dong.

One of the most expensive vintage cars on the Vietnamese market today is the 1999 Rolls-Royce Silver Seraph, which is being offered for sale by a showroom specializing in selling used luxury cars in Hanoi for more than 8.3 billion VND.

Although 23 years old, the car is 100% original. The entire exterior and interior of the car are still very new. The interior of the car is cream-colored and has luxurious amber wood paneling.

Rolls-Royce Silver Seraph 1999 costs more than 8.3 billion VND.

The 1965 Land Rover Series II, restored to almost new condition by Mr. Do Quang Tu, Phung Hung, Hoan Kiem District, Hanoi, has also attracted the attention of the car enthusiast community. The car is valued at nearly 3 billion VND, as expensive as a new Mercedes GLC 300 4MATIC luxury car currently on the market.

Explaining the rather expensive price for the 56-year-old car, Mr. Tu said that this model is considered a symbol in the world of automobiles. The rarity determines the value of the car.

Land Rover Series I, II, III are always highly valued in classic car collections around the world. The car model has created a big buzz thanks to its powerful and durable engine, capable of overcoming slippery and harsh terrain.

Not only Rolls-Royce or Land Rover Series II, the seemingly common Toyota Crown model is also very popular in the current classic car market and has an equally expensive price.

A 1998 Toyota Crown is being offered for sale by Mr. Ngoc Duc in Hanoi for up to 1.5 billion VND, making many people curious.

Mr. Duc confidently asserted that the car is still original and even runs "more smoothly" than a new "unboxed" 2022 Toyota Camry of the same price range, even though it is over 24 years old.

With 1.5 billion VND, if buying a new car, Vietnamese people can choose the highest-end Toyota Camry or the lowest-end Mercedes-Benz C-Class. However, for enthusiasts who want to collect classic and legendary cars, Toyota Crown is considered the "true love".

Toyota Crown car prices on the market vary quite a bit. Models from 1991-1995 cost around 250-400 million. Models from 1995-2000 cost 600-900 million. As for those that are still “original”, the price can be up to 1-2 billion VND. The difference depends on the condition of the car, the model, manual or automatic transmission, and even the history of the car.

"The more you play, the more it goes up in value"

Most vehicles will gradually depreciate over time, but there are also many rare classic cars that increase in value the more you use them.

Mr. Duc said that in the past 3-4 years, more and more people have become interested in playing with unique vintage cars. The demand is getting higher, while it is very difficult to find a "quality" car with all the criteria of new exterior and interior, low mileage, good engine and original spare parts. Therefore, the price of the car has also increased 2-5 times depending on the car model.

Mr. Nguyen Thanh, owner of a used car shop on Nguyen Van Cu Street, Long Bien, said that 3 years ago, someone asked him to buy a 1996 Mercedes E230 (W210) classic car with the requirement that the car must be original.

The "genuine" Mercedes E230 (W210) 1996 on the market is very rare and costs from 2-3 billion VND. Customers are willing to pay if he can find one. But in the end, Mr. Thanh agreed to "cancel the deal" because he could not find a car for the customer.

“Buying a classic car is also a process with many difficulties. Because with old machines, many details have been operating for decades, so if you do not have expertise and experience, it is very easy to buy a refurbished car.

Sometimes it is acceptable to buy at a high price, but the quality of the car must be really good. Because customers in this segment are always rich and very picky, they often look very carefully," said Mr. Thanh.