9 September 2013

Hagerty Price Guide Index Preview: Book 22

The Hagerty Price Guide recently published values from Book 22 and some of the results are astounding. Those who took note of market activity over the summer, which was particularly apparent in Monterey and Pebble Beach in the middle of August, are probably aware that values are moving quickly. Just how quickly, however, might come as a surprise.

As has been the trend for the past several years, high-dollar market segments are exhibiting vigorous improvement. This is most acutely seen in our Blue Chip, Ferrari, and German Car indices, which all jumped at double-digit rates — the Blue Chip at 10%, the Ferrari index at 15%, and the German index showing the most strength at 16%. This is the first time since January 2008 that the three premier indices have achieved this feat. This is also the first time since early 2011 that all three have increased their rate of growth for three consecutive periods. If you thought sale results seemed superheated, they are.

Furthermore, Book 22 saw the largest percentage of movement in excess of 5% since May 2008, with 10% of the book’s approximately 20,000 listings moving at that rate.

Even with those remarkable four-month gains, movement seems to be more restrained than we saw leading up to the market correction of 2008, as odd as that may sound. In the heady days of January 2008, for example, the Blue Chip notched a 33% increase, the Ferrari Index recorded a 39% move, and the German Index blipped up a relatively relaxed 12%. Furthermore, sources report that while broker and speculator activity is picking up, it is still minimal overall. Buyers and end users are one in the same at the moment, unlike during the famous 1990 collector car bubble.

What is less apparent is the movement outside of the headlines. The three indices that best represent the bulk of the market (cars in the sub-$100,000 range) saw only modest gains, with the British Index inching forward by 3%, and the Affordable Classics and 1950s American indices standing firm. Growth year over year is at 4% and 3%, respectively. Hagerty also tracks market performance of 25 of its clients’ most popular cars, and this “Popular” Index showed gains of 3% and is now 5% improved from a year ago. In short, while the top of the market is raging full on, the cars that most people buy are also realizing gains, even if they are minor ones.

In practical terms this means that most cars in most cases, if bought with due diligence, look like they will return their purchase price as well as enough to cover operating and ownership expenses when they are sold a few years down the line.

If you wish to find the value changes of your classic, please visit our Valuation Tools.

34 Reader Comments

  • 1
    Mark AZ September 10, 2013 at 23:20
    Hard to argue that classics (of any marque) at least hold their value if you buy at no more than the going market value.Juts need to avoid paying "stupid money" to get your ten seconds on TV or showing up another bidder
  • 2
    Richard Taylor Edmond, OK September 16, 2013 at 13:44
    Have a 1967 Ford Ranchero. It is better than average and has won several trophys at local car shows
  • 3
    Dr. Daniel Mercaldo Naples, FL September 18, 2013 at 13:44
    I have a 1985 Caddy El Dorado, excellent condition, 47,000 from original owner. How much is is worth?
  • 4
    Brandt AZ September 18, 2013 at 14:11
    Pretty sad about American cars not keeping up with the gains of others, but that's probably because of our losing respect around the world.
  • 5
    Rolland Ehle Omaha, Ne September 18, 2013 at 15:20
    Need quote for 1930 Ford model a tudor
  • 6
    Steve Waco TX. September 18, 2013 at 16:47
    1971 Camaro fully restored crate motor 350 beautiful car clone Z28 - 4 speed what is it worth ?????
  • 7
    Mike Brooks AB September 18, 2013 at 17:51
    I picked up a running, drivable and now on the road '68 Chevy C-10 with 58,000 original miles and numbers matching for a whopping $400!! It's amazing what you can find in a barn.
  • 8
    James Brown North Carolina September 18, 2013 at 18:04
    I have a 1966 Corvette convertible with 2 tops. It is the 427 with 450 HP. This is 2 owner car with me being the second owner only a short time. The car has actual 39.410 miles on it that is documented. It has 4:ll rear end, power brakes, power antena, upgrade 4 speed trans., and heavy duty brakes. It has one repaint in 1989 and does not have a mark on it. Never been hit or a scratch. It comes with be original bill of sale and window sticker. Plus all the original manuals and protector plate.
  • 9
    Ken California September 18, 2013 at 18:14
    You mention various indexes..... Blue Chip, German, Affordable, Popular, etc. Where can I see the composition and performance of these you mention... and possibly more?
  • 10
    Phil Denver September 18, 2013 at 18:33
    The televising of auto auctions has really helped balloon the collector car market. Everybody and their uncle thinks that rotting car that's been in the backyard since the seventies is worth big money. I have been wondering for a couple of years when will the bubble burst on classic cars? Maybe as more boomers kick the bucket. Hey Brandt in AZ, don't believe everything from every radio talk show jockey you hear. The US is still the most desirable place in the world. Classic foreign cars are catching up in value appreciation, American iron has been on an up-word trend for a dozen years or better, just check the graphs from Haggerty. My cars are a hobby, worked on driven and used by me, not an investment. 1933 Custom 4x4 Chevy Truck, 1963 Cadillac original driver, 1964 Malibu project, 1973 Custom Corvette built in 1983, 1972 Custom Challenger.
  • 11
    Carl J. Morelli Columbia County, NY September 18, 2013 at 19:09
    Need quote for 1964 VW Sedan with both the body and engine recently completely redone
  • 12
    George Los Angeles September 18, 2013 at 19:15
    Value of my 1965 Porsche coupe. Your last valuation for my outlaw was $60K. Thanks.
  • 13
    NewtyNewr Third rock from the Sun September 18, 2013 at 20:39
    I have been watching the value of Geo Metro convertibles increase lately. It is a shame that Hagerty doesn't consider insuring these new classics. Owners are forced to be fleeced by the insurance giants for coverage. These antique fuel efficient convertibles are gaining in popularity. They are fun to drive & serve to wean American car collectors off of foreign oil. I would like to see Hagerty do more stories on fuel efficient antique auto comparisons. Got MPG?
  • 14
    John Oregon September 18, 2013 at 20:46
    I agree with the comment about auction sales being different than other types of sales. That said, it almost seems that if an auction sells a model for a high number, the market for all sellers seems to follow that one example. With that scenario you end up with speculative pricing and buyers, and I don't believe the market will sustain that kind of growth. Small value jumps over many years appear to be a more realist market. That's where the car folks can feel comfortable about their purchase. (C2 Corvettes are a good example of this. Their prices have risen over many years and I wouldn't be afraid to buy one. Some Ferrari prices, on the other hand, have jumped too high, too quickly. I'll avoid that speculative market.)
  • 15
    faye perdue Eden N.C 27288 September 18, 2013 at 21:17
    I have a 55 ford made in Canada. Looks new. Its, my baby. Have a candy apple red 69 xl conv. plus 10 others!! Love them all!!
  • 16
    bill tenison fresno, ca September 18, 2013 at 21:21
    I don't own a european car, but I do own the car of my dreams a 68 pontiac g t o. I know it is going up in value , it is a numbers car and absolutely gorgeous! I wouldn't sell it for any amount of money. You guys take good care of me and my baby!
  • 17
    CHARLIE BRYANT temple hills,md September 18, 2013 at 21:52
    I have a 1987 XJSC jag. w/ less than 60k miles, stock, in great condition. would like info on its value,as I would like to sell it
  • 18
    herman white Hillside, new jersey September 18, 2013 at 12:16
    1978 Cadillac Eldorado, El Dora model, hump on trunk, excellent condition and garage. Please give estimate. It is covered by your insurance company. Many thanks!
  • 19
    Jack Castellano Bayville,NJ September 18, 2013 at 12:42
    Own a 1966 Mustang convert. Won several "Best Of Show" trophys at local shows.
  • 20
    Brian Ga September 18, 2013 at 12:52
    Humm, I see prices all over the board, but it would appear that things are stagnant, maybe not on tv auctions, but on the local market. I am glad I don't need to sell right now, but probably a good time to pick up some bargains, if you avoid the actions.
  • 21
    toby Globe St. Louis September 19, 2013 at 13:31
    Wondering what a Tucker Automobile in good condition might be worth?
  • 22
    Sandra Walt Mountain home,Arkansas September 19, 2013 at 06:23
    I own 1970 Buick skylark custom it's a convertible restored What is its worth ? Thanks
  • 23
    Dick Dutiel Canton Ohio September 19, 2013 at 08:56
    I have a1954 chevy Belair 2dr. hardtop with 30,000 miles, all original except paint and carpet. Very good condition. Can you give an estimate?
  • 24
    Glenn Davies Washington State September 19, 2013 at 21:55
    Have a 1958 Oldsmobile 88 2 door hardtop w/36,000 origanal miles, numbers matching, Canadian car. What kind of value? Thanks.
  • 25
    LARRY CRUMPTON new albany ms September 20, 2013 at 11:19
    please value 1953 ford 2 door completely restored and modernized. new 302, fat-man front end,air condition, new leather interior, to many to name. thanks Larry Crumpton.
  • 26
    Roger Duncan Phoenix, AZ USA September 21, 2013 at 00:25
    How much is a 77 Chevy Blazer k-5 worth.? It has 186,256 original miles on it, A new 305 V8 with and edelbrock 2013 intake manifold and a J C Whitney Fuel Saver camshaft. and an edl 1403 500cfm carb on it. New Drag link and tie rods and steering stabilizer, New rebuilt Trany (350TH) and rebuilt NP203 transfer case (modified to be changeable from 2 wheel to 4 wheel drive. an external spare tire carrier with gas can, New sun visors and new head board and trim. A aftermarket rear view mirror that is also a compass and external temp and self dimming at night, 31 gal gas tank new front bumper, new driver's door window. A passer side convex mirror, tow hitch and trailer brakes, new Radiator with engine. converted to single side exhaust with cat converter..
  • 27
    E. Mackey King Crossville, TN 38558 September 22, 2013 at 22:02
    Have a '65 C-2 Roadster , No documentation, Inaccurate mileage. Numbers matching, B- condition 327/350 w/after/mkt elect fan and water pump. 4-Spd./ 3.08 RR/axle factory air, power stgr. side pipes, pwr windows, factory knockoffs/w/sidewall radial tires, tinted wd/shld, Minor restoration (not body-off) early 90's repaint and interior red/red white top, red hdtop.,(C- condition) Has minor paint chips and scratches. telescopic stgr col.. Solid Chassis, Strictly a summer daily driver and local Corvette club participant.. Has won Honorable Mention at 2002 Cars On Campus car Invitational show. Insured w/ Hagerty.. Worth? Thanks Mackey King
  • 28
    Rainer Schwager Santa rosa, ca September 24, 2013 at 19:36
    Looking for an approx value of: 1971 VW squareback 1600cc. Original condition with 105,000 miles. Has rare sunroof.
  • 29
    Paul Michigan September 24, 2013 at 21:44
    It's time to give the wagons, and 4dr. sedans a turn in the spotlight. These cars were truly a significant part of American history. What many collectors may think as insignificant to the collector hobby, these vehicles should not be overlooked. Many vehicles of this type are not being collected as the restored resale dollar value does not reflect the effort, money and time spent to restore. Additionally, most 'value guides' base a vehicles value from the quantity of a specific vehicle that has been sold through an auction. (Not always necessarily condition) This is a shame to the collector car hobby as the low resale values of the sedans and wagons in my oppinion, do not accurately reflect the actual values and interest in these fast dissapearing icons.
  • 30
    Paul Partridge Texas September 25, 2013 at 07:14
    Hello all. Have a ? or comment, however you want to look at it. I have a 1971 Chevy short wide, resto-modd. Know when it comes to a dollar value of a certain vehicle, I do understand the whole #'s matching thing. And on the other hand I do not ... Take my truck for example,,,came with a chevy 350.... That failed and had to be replaced.. I have upgraded all the parts in the motor to high performance standards. I am just trying to figure out the theory of a #'s matching motor vehicle value,,vs not a #'s matching vehicle..I think that the fact a vehicle is worth so much more money when it has a #'s matching motor is a little ridiculous when you are talking about the value of 70 % of the classics out there today.... Thanks and have great day....
  • 31
    Joe Gray Calgary September 27, 2013 at 16:35
    Hi, what value does a 1964 Ford Fairlane 500 go for.
  • 32
    James Norton United States October 4, 2013 at 21:54
    I have a 1967 chevy C-10 pick-up which I am the third owner. I got from Nebraska in 2006 with the original 283. I have a spare 1967 327 that came out of a 3/4 ton that was given to me when I bought the truck in 2006. I have had it Bed off repainted and replaced the wood in the long bed. It is a beautiful truck that still has its stock Muncie 4 speed and points ignition and stock exhaust manifolds and drum brakes. Any idea what were are dealing with? It only has 93000 miles on it and cranks up and runs anytime I want to go drive it.
  • 33
    Hal Milton Michigan May 18, 2014 at 14:02
    A 1998 XJR (all black) made for FORD VP when owned Jag, then mine at 7500 miles now 66,000 miles. Really beautiful and just ordinary maintenance. Worth?
  • 34
    Terry Phc az March 16, 2016 at 16:37
    I have a 1953 Oldsmobile 98 WITH THE ORIGINAL FACTORY AIR CONDITIONING FRIGIDAIRE UNIT FIRST YEAR OF FACTORY AIR CONDITIONING.COMPLETE CAR NEEDS RESTORATION 40k miles whats it worth

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