I own and cherish a 60 year old super cub. Per flying hour the direct costs, including insurance, come to the hire cost of a DR400 120 hired from my french club. Neither of them is tatty, but the cub would now sell for a good bit more than the original (1980) purchase price.
So, an appreciating asset tax free, and I can land on farm strips
and don't have to book in advance. I like old aircraft.