In most cases, classic cars that are kept in their original condition will have a higher value. The original parts are also important, especially if they match numbers.
Here are some under-the-radar gems that you don’t want to miss on your next trip!
What is a Hidden Gem?
A hidden gem is a surprise and of great value but doesn’t get the recognition it deserves due to its underwhelming appearance. A good example is a diamond in the rough, a person who comes across as brash and rude but, underneath the surface, is a really warm and loving individual. My hometown is a hidden gem; beneath its dusty and dreary weather is a truly loveable community.
A hidden gem could be a restaurant, park, business, or landmark that isn’t well known to the general public but brings value and joy to those who know about it. Our Hometown Hidden Gem series aims to give you a chance to discover a place in your community that you may not have been aware of before.
We want to hear from you about the places that make your town special. Send us your hidden gem stories, and we’ll share them with the world.
Whether you’re on a weekend pub crawl or a cross-country road trip, it’s a thrill to discover a hidden spot. A sense of pride comes with knowing that your buddy was the first to find a free off-street parking spot in a blue-collar city or impress a date with a secret sunset make-out spot. These spots can be anywhere, from an unmarked Italian restaurant in blue-collar Buffalo to a roof terrace at a London hotel. Hidden gems pull a range of emotions from you, but they’re all worth the effort to find.
How to Find a Hidden Gem
Buying a classic car is a thrilling endeavour that allows you to resurrect a piece of automotive history. But sometimes, finding the hidden gems in the market takes little work. It’s important to conduct thorough research, perform a detailed inspection, assess restoration feasibility, and consider financial implications before investing in a classic car.
Whether you’re looking for a hidden gem to visit or to own, the internet is a great tool for finding them. Searching for specific words or phrases can help narrow down the search results. For example, searching for “hidden waterfalls” on Google Maps will give you a more focused list of locations than general searches. Also, forums like Reddit are a fantastic resource for skimming conversations for valuable information on lesser-known spots in your area.
When it comes to hidden gems in the automotive world, a lot of people think they’re out of reach. But some gems are still affordable, especially if you’re willing to look in the right places. BMW 3-Series models, particularly the E30-generation cars, are a great example. While the M versions of these cars are well beyond your budget, regular 325i and 318i models can be found for relatively cheap prices.
It’s also a good idea to network with other classic car enthusiasts. They’re a fantastic source of information on private sellers and can even point you in the direction of restoration experts who can help you bring your dream car to life.
How to Value a Hidden Gem
Hidden gems are companies that have the potential to deliver exceptional growth but are overlooked by investors due to a lack of visibility or market dominance. They often operate in niche markets or innovative business models that position them for outperformance. Identifying these undervalued gems early can lead to significant gains for investors.
Many collectors look for hidden gems in the classic car market, but other valuable items also exist. For example, rare books are highly sought after for their intrinsic value and the allure of owning a piece of literary history. In addition, certain pieces of jewelry or clothing can be very valuable if they are rare or unique.
The best way to discover a hidden gem is to conduct thorough research and perform a detailed inspection before making a purchase. It is also important to consider restoration feasibility, financial implications, and transportation costs. In addition, a hidden gem should be in excellent condition and have an interesting story to tell.
While it may seem like all the good vintage car investments have already been found, there are still some great cars available that will increase in value over time. One of the most promising models to consider is the Shelby 289, which combines an American V8 engine with a light and nimble European body. The result is an incredibly fast and surprisingly affordable high-performance machine.
Another great classic car investment option is the Jaguar XJ-S. This luxury cruiser is a true hidden gem that can be enjoyed for decades to come. In addition, the XJ-S is a comfortable, reliable road-going vehicle that can be easily modified for performance driving.
It is also worth noting that hidden gems are very different from your typical customers. In fact, they can represent up to 12% of your total revenue. These individuals skip the education and proof-of-concept phases of the sales cycle, which allows them to move straight to the bottom or middle of the funnel. This can lead to a much faster and more efficient sales process. This is a major benefit for both the buyer and seller, as it eliminates a lot of friction in the sales cycle.
What to Expect from a Hidden Gem
Hidden gems can be difficult to identify. They may not have all the right qualifications on paper or be able to answer every question thrown at them during the interview process. They also may have a different cultural or behavioural style that can throw off the assessment team.
One of the biggest mistakes a company can make in identifying high potential is declaring that someone doesn’t have potential when they do. This is a Type 1 error, and it can be extremely costly for the organization.
Another possible mistake is modifying the standard selection process by looking for hidden gems. This creates a situation where companies are looking for triangles in a box of squares, circles, and rectangles instead of using a structured, standardized process that is efficient and effective. It increases the odds of missing a hidden gem and introduces bias into the process.
A hidden gem could be missed due to a lack of sophistication in the talent review process or an inability for managers to persuasively argue the case for the individual. The individual might have a different style that doesn’t fit the company’s definition of high potential, but they still have the ability to deliver strong results.
When it comes to travel, locals can often find some of the best value of old cars by avoiding popular tourist attractions and sticking to smaller, lesser-known places. By skipping the crowded museums and iconic landmarks, travellers can discover more unique and authentic experiences. Similarly, businesses that are considered hidden gems by their communities bring value to the people who live there and enhance the community’s overall quality of life. This could include a small shop, restaurant, or other business that sparkles in the town or city.