Joshua Rubenstein Comments on Strategy for Investing in Luxury Cars

Partner and National Chair of Katten's Private Wealth Department Joshua Rubenstein was quoted in an article by Citywealth on the collectible cars as an emerging investment-grade asset.

Joshua shared that establishing provenance is of great importance in securing a car's long-term value.

"There is no question that there is a market in luxury cars, but to hold their value, it helps to have provenance. I once represented an offshore trustee in its purchase of a non-functioning, dilapidated 1941 Mercedes road car from a seller’s garage in California. We had it shipped across the United States to a specialist repair shop in Vermont. It cost $1 million to purchase, $1 million to repair, and $1 million to ship—first across the U.S. as a wreck, and then on to Oslo once restored. It sold at an antique car auction in Oslo for $6 million. The difference for this car? It had belonged to Hermann Göring, a convicted, Nazi war criminal and was confiscated by a U.S. marine as a war prize."

The example demonstrated the significant worth that the right documentation of historical significance can demand.

"Supercars, Storage and Strategy: Inside the high-octane world of investment-grade automotive wealth," Citywealth, May 21, 2025