19 April 2013

Upswing in demand for vintage SUVs

Once considered out of place at prominent classic vehicle auctions, vintage SUVs are rapidly gaining in popularity among collectors. During a series of collector car auctions in Scottsdale earlier this year, 11 vintage Toyota Land Cruisers sold, with the best example – a 1981 Mustard Yellow FJ-40 – selling for $88,000.

The recent public sales are not an outlier according to Hagerty Insurance, host to the largest database of classic cars in the world – this has been a growing trend for the past five years. Hagerty reports the niche segment of vintage SUVs has grown 65% since 2008, nearly twice the percentage rate of the company's overall book of business, which has risen 37% during the same period.

While vintage Toyota Land Cruisers (202%) appear to be the fastest rising choice among vintage SUVs, other models showing significant movement include 1970s and '80s Jeeps (93%), Ford Broncos (86%) and International Scouts (85%) from the 1960s and '70s.

"With so many young collectors opting for modern SUVs as their daily drivers, we're seeing a shift in perception of what makes a vehicle cool," says McKeel Hagerty, President and CEO of Hagerty, the world's leading provider of classic car insurance. "Broncos, Land Rovers and other similar vehicles from the '60s and '70s were, for the most part, once seen as utilitarian. But vintage SUVs are becoming more and more collectible, and it appears that trend will continue. This is a great time to get into this segment of the collector car market."

In addition to growth in Hagerty's database, sales analysis of more than 15 major auction houses, recently conducted by the Hagerty Institute, offers further evidence of a budding trend of increased SUV sales and values. Over the last five years, the number of vintage SUV's offered at auction is up 150 percent, and the value of these vehicles has risen 31 percent.

5 Reader Comments

  • 1
    Rod Ellis KC MO May 18, 2013 at 17:09
    Maybe it's me but I don't see most SUVs listed in your valuation tools. Do you have this? and/or What would an average restored 1974 Jeep CJ-5 Renegade 4x4, 304 V-8, 3-speed, T-case, Warn front hubs, five factory mags, etc be worth?
  • 2
    harold nolan Navesink, new jersey July 2, 2013 at 15:50
    Not much was said about the value and interest in the 1969-1972 Chevy K5 Blazer. I bought a 1971 blazer new, and drove it for many years. After about 10 years sitting in my barn, I have been doing a full restoration on it (about 3/4 done). To me, the design of the K5, just the way it sits up, is much nicer than many of the other 1960' and 1970's SUV's. Or maybe it is just because all of my four children (oldest 41) came home from the hospital in the old K5 after they were born.
  • 3
    Chris Tye United States July 30, 2014 at 14:02
    When getting my restored 1968 Chevrolet Suburban K20 evaluated, the tool didn't even have it listed and the closest Suburban listed shows it at a two door SUV. No such animal with 67-72 Suburbans... My Suburban is a family truck for over 40 years, and it is restored back to all OE specifications for 1968. I'd love to see more of these out there, but in 1968 there were less than 300 K20 Suburbans produced I am not holding my breath. Just happy that Hagerty insured it for me.
  • 4
    Harbormate Da UP July 30, 2014 at 09:03
    Ditto on your valuation tools lacking. I have a great, rust free, 1976 IH Scout that I've used to pull Jeeps out of trouble (not kidding) and Scouts have really become popular lately. Not in your evaluation program, however!
  • 5
    Darrell Smith Phoenix July 30, 2014 at 10:57
    I have a 1953 Willys Overland, it has been in my family since it was new, I would really like to see some something on these awesome trucks, why they are never mentioned I don't know, probably because the majority are rust buckets sitting in someones yard (not mine) I see very few restored but the ones I do see are Awesome!

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