In May 2009, the highest price ever reached at auction for a classic car was achieved by a 1957 Ferrari Testa Rossa, bringing an incredible $12.2m.

A staggering amount, for sure. But can classic cars really make you money? That is the question asked in the above video report by the leading news network CNBC.

The video investigates the treasures that are on offer to today's classic car collector, and how you can avoid getting lumped with an 'old banger'.

Two cars familiar to Paul Fraser Collectibles make an appearance: the 1950 Aston Martin DB2 Team Car which sold for a record £550k last month and the £430k Mercedes CLK GTR.

Including interviews with Hardy Singh Sohanpal, co-founder of the Historic Auto Group, and other experts, the video features an in-depth discussion on how classic cars compare to other investment classes.