Is your 401k taking a dump? Are your stocks falling fast? Maybe now is the time to look at another investment opportunity. We’re talking about classic cars!

While new car sales continue to fall at a precipitous rate, classic cars are hotter than ever, according to people like Terry Lobzun, a spokesman for RM Auctions, the company that holds the very popular Barrett-Jackson auctions on ESPN. They’ll be at it again this weekend, with approximately 300 and trucks on sale, the majority of which they anticipate selling for near-record prices.

Apparently, the classic car business hasn’t slumped with the economy and in fact, like regular used car sales, is holding steady and in some places actually picking up.
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Dan Talbot and his wife celebrated their honeymoon 50 years ago in a Studebaker. Now, they’re celebrating their golden anniversary in another Studebaker.

These are the kinds of stories I love. There just seems to be an undeniable attraction between people and the cars they grew up with. Fond memories and life-changing moments surrounding certain types of cars make folks wax nostalgic. A prime example of this is the Studebaker. Studebaker clubs exist all over the world. People never tire of these old-school classics and demand for them is higher than ever.

I had a Studebaker many years ago that someone gave me for free, just because they wanted to see it restored and back on the road. Although I was never able to finish the car, I had a wonderful time working on it. I was amazed at how well these cars were made. Studebakers have a very simple design, possess remarkable power and are very reliable. It’s no surprise that collectors covet these cars.

I am getting married in exactly 7 weeks. I wonder if my fiancée would go for a honeymoon in a Studebaker?

Read the article from The Detroit News after the jump: