The market, as measured by the HAGI Top 50 Benchmark Index, dipped 0.77 per cent last month, compared to June. The company said the slowdown came as some buyers showed resistance to price, particularly in sterling, and held out on making purchases.

Meanwhile, the HAGI F Index, which measures the classic Ferrari automobile market, and the HAGI P Index logged gains in July, climbing 1.95 and 0.53 respectively.

Classic cars have gained significant ground as an “investment of passion” over recent years with the perception that it offers investors diversification amid market volatility. Indeed, the market has advanced 9 per cent since the beginning of the year, according to the HAGI Top 50 Index benchmark. This growth came against a backdrop of global macro uncertainties, from Greek's debt crisis to July's slide in Chinese equities.

Kemp Stickney, chief fiduciary officer and head of family wealth at Wilmington Trust, recently wrote about the state of the market for collectible cars, going through some of the key related considerations for investors.