2 September 2016

Graph of the Week: Hagerty Price Guide 31's biggest drops

The updated Hagerty Price Guide, number 31, has just been released. Validating trends that we’ve observed, some of the largest depreciations hit cars that had appreciated dramatically over the last couple of years. The Ford GT, for example, is a car that has been a staple at collector car auctions, with numerous low-mileage examples selling for well beyond their original purchase price. The most recent auction transactions have weakened, however. Either the market has become saturated or buyers are realizing that the Ford GT isn’t all that rare (4,000 built) and that low mileage examples aren’t all that unusual.

The Carrera GT is similar. Strong auction results last year and earlier this year prompted more examples to surface, but buyers have since thinned. Of the half dozen like-new Carrera GTs in Monterey this year, the ones that sold all brought prices well below even current #2 condition values.

The Toyota 2000GT, meanwhile, arguably signaled Japanese cars’ acceptance as serious collector cars back in 2013 and 2014 when two examples sold for over $1 million. That prompted other big transactions for the model, but recently the 2000GT market has cooled and sales have been far off from seven figures. For example, the exact same car that sold in 2014 for $1,045,000 sold for just $533,500 at Gooding’s Pebble Beach sale a few weeks ago.

As for big drops like the VW Thing and the Lamborghini Islero, those are typically cases where a few big transactions for perfect examples prompted an increase in value but were not followed by any similar, supporting results, so values were scaled back. In most cases, though, the biggest drops in value are previously hot cars that are starting to settle down.

4 Reader Comments

  • 1
    Charles Houle Florida September 9, 2016 at 11:45
    How do you find out how many of a particular year/make/model/feature/color were initially sold in the US and how many remain? I have a 1992 Porsche 968 Cabriolet in Amazon Green and am curious.
  • 2
    KD Davin PDX September 10, 2016 at 17:07
    Wow! Some poor sap- make that an unfortunate sap, probably not poor, took a half million dollar bath on the Toyota 2000 GT?!! Guys, guys, guys, we all know in our hearts that Japanese machinery, in general, is made to be used up. Their stuff works great until it's used up, then you dump it and get another one. Their whole automotive philosophy is to make useful appliances that will be used up and replaced by the newest more clever version. Japanese cars aren't, weren't, and won't be collectible. The Japanese decided that when they became involved in mass production items. (see above).
  • 3
    GSM USA September 12, 2016 at 14:29
    KD: You should treat yourself to a drive in a Datsun 2000 Roadster. It might not change your opinion, but I'm pretty sure you'd enjoy the ride.
  • 4
    Aaron Detroit, MI September 15, 2016 at 15:50
    Are these percentage values now vs. HPG 30? Or are they now vs. all-time high?

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