Hagerty.com

25 cars losing steam as summer 2019 nears

Another set of data was tabulated by Hagerty’s valuation specialists, and the numbers are in. Many beloved muscle cars, British roadsters, and imported sports car made our Bottom 25 list, and many of them follow trends we’ve noted for the past several Hagerty Vehicle Rating tallies.


This is a companion discussion topic for the original entry at https://www.hagerty.com/articles-videos/articles/2019/06/11/cars-losing-steam-summer-2019

Awesome that 924s made the list! Time for them to return to underground, overlooked, enthusiast owned and adored little cars, rather than seeing them shuffled through owners on BaT with little maintenance, and shoved back out there as some kind of “revenue builder.” Even a '77 with its highway hop, low power, roughness, noise and hot start issues belongs with a loving owner, not some fly-by-night with a “cheap Porshh” he “gawt off Craig List” for $1500, only to dump on eBay or BaT for $10 grand a month later after 18 miles, because “it’s dang slow.” Hopefully NA Miatas “lose steam” as well, soon enough, so they can be with those who love them for all the right reasons.

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Once again these lists group models of very different value. 71 Barracudas are currently extremely hot and expensive and 70s right behind, but yes 72-74 always have and always will be no where near the value of 70-71.

Looks like the low budget crowd is priced out of many of these models - or they already had a declining collector base.

This is not about “collectors” but rather consumers. Collectors are willing to spend more for special pieces. Hagerty’s list is not about “collecting” but rather about cars consumers are or are not buying. One does not talk about “collectors” being priced out of the market. Collectors are the ones who define the market.

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I’ve stated this before but its worth repeating. I fully understand when you talk about “collectors” cars you have to talk (I guess) about “value”; that it what is, what will your “collector” car be worth. For me; buying, wrenching and MOST IMPORTANT “Driving” - “Classic” cars is not about the “collect-ability”; it’s all about what “I Like”. What I get a kick out of driving, what that car reminds me of; memories. I recently had a friend of mine who said he wants to get his wife a “cool”, “classic” car. He knew I dabbled in cars and just wanted my opinion. I asked him what his wife liked and he said he remembers him and his wife seeing a “re-birth - revival” Thunderbird (2002-). I told him that those models never really took off; they never gained appreciation … BUT…like his wife; I love those models. He (we) found one for sale, it had some “concerns” but it was a great looking, riding, driving car and in my (and his wifes’) opinion “Cool Looking”. So in the “Collectors’ Arena” maybe not a desired ride; but if you want to “have fun”, “enjoy the ride”, BUY IT! That’s how I roll when it comes to “classics”; I guess it’s all in the “eyes of the beholder”…on the list or not.

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The reality is the valuation guide is for insurance purposes. I have never paid what Hagerty says these cars are worth. It’s kind of like saying a car is worth something because of what it sold for at Barrett Jackson. You know, the auction where millionaires are trying to out do their buddies to look good for the 20 something year old chicks they are trying to pick up.

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There is a third group the true hobbyist. That is me as I am clearly not the other two. I buy a car because I “like” it. Future value has absolutely nothing to do with it since after I rebuild it I have zero intention of selling it. I buy four door hardtops which collectors and consumers would tend to ignore as two doors are worth more for some reason. I think many four doors look better proportioned. My six are for their driving enjoyment and not for sale nor do I spend time at car shows. Maybe the article should have talked about the declining numbers of true hobbyists who don’t see cars as commodities as per this article.

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Wouldn’t mind seeing the Corvette market completely tank.While I have been fortunate to own 3 that were shown, raced and driven cross-country a couple of times I will never be able to afford my “unicorn”. Well, unless I can get someone to buy my house, cars, Harley, boat, wife, kids and dog and all my worldly goods, as-is where-is no warranty expressed or implied and I can take out a 2nd mortgage on my organs.It is probably parked in some “collectors” climate-controlled man cave next to the Monets and vintage Scotch or buried in a storage locker for 40+ years, waiting for the price to go up. While I’m ranting, these 'barn finds" are nothing to be proud of. That is a car that should have been out street racing for pink slips, or making memories on date night at the Drive-in. Not rotting away covered in chicken poop. Makes me sad.

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could not agree more, Hagerty values are high for many autos.

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@tahend I’m the Assistant Editor for the Hagerty Price Guide and perhaps I can give you a bit more perspective on the guide. I can understand your view on the purpose and methodology of the guide. For every person saying that our prices are high to raise premium, there’s another person saying we are low to keep our claim payouts low. The reality is that neither of those sentiments are true. The Hagerty Price Guide is not a part of the sales or claims department.

Our update process takes a much broader approach than just Barrett-Jackson. We look at all North American auctions, private sales, listings, quote trends as well as speaking with respected marque authorities.

All that said, we are working on the next update to the price guide, and if you can point me towards some vehicles you feel are off, I’d like to do some additional research to see if adjustment is appropriate. @michaelostrander you input is welcome too.

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I appreciate your position but it doesn’t really matter to me because I would never pay what you say a car is worth. I only see Hagerty at these high end auctions and Mr. Hagerty seems to only be concerned about million dollar plus vehicles, so if that bothers you perhaps you should branch out to some other more realistic auctions and swap meets. As you can see, I’m not the only one that feels this way.

I can appreciate your position, and the company does attend a lot more events than concours level shows. Granted, our media coverage might does tend to focus heavily on Scottsdale, Amelia Island and Pebble Beach, so it is quite easy for anyone to form the impression that all we care about is high end cars.

I’m always open to looking at vehicles you feel we are way off on in the guide. If you would like to send me a list via direct message or post it here, we can take a deeper dive. I hope you’ll take me up on that as our team is interested in accuracy over anything else.

I’ve known guys who have had total loss replacement by Hagarty and also major damage repair. Both were pleased at how they were treated by the company and that is why I insure my 1970 Coronet with them.
I like this online magazine they produce but I think where the slope gets slippery is in discussing trends in value as the focus of an article. It smacks a bit of a stock market report, coming across like its all about the buy low, sell high game. Hype up cheap cars to drive the low or stagnate segment of the market. This appearance turns hobbyists completely off for obvious reasons. It probably wouldn’t come off that way if Barrett Jackson (and now Mecum) hadn’t made car auctions into media entertainment. I personally am glad Hagarty has this data and I find it interesting. I don’t believe they are attempting to drive up car values. I just hate that old cars that once were cheap, fun and rewarding are now a commodity. Cars built in the golden age are now out of reach for many and there is nothing to replace them. That’s not Hagarty’s fault.

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Hey; my remarks were in no way a slam against Hagerty; I’ve had them for years on all my cars; love the information, love the mag, love the Barn Find Videos and as for the valuations…I think they are great. Have my cars valued at what they said they were worth and what I was willing to pay; so if anything happens to them I know that a quick phone call to Hagerty takes care of me; so again…my comments were simply personal in nature and not against Hagerty’s valuation or list…KEEP UP THE GOOD WORK HAGERTY!

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To cvt405, your opening remark is the dumbest opening statement I have ever seen. Being in this hobby, we just relish and be over joyed that beautiful cars were built and exist for us to enjoy. Yah, I wish I could buy a Duesenburg for $10k…

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I learned an adage a LONG long time ago that “Something is only worth what someone is willing to actually pay you before the sun goes down.” A couple dozen Mopar muscle cars later, I DO agree with that statement!
I’ve walked away from a lot of cars & trucks because the current (and probably “still the…”) owner started saying “These are worth a lot of money… I saw one go on Barrett Jackson for…” as they’re standing in front of a rough project car (or probably a parts car if I was smarter).

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I’m not saying you are doing it for premiums, I simply saying some of the values are high vs what I see and where they sell at. I don’t think Hagerty is doing it for premiums. I watch the c3 market pretty close and it’s a little open with extremes but the mid and low points are consistently lower than hagerty pricing imho

I don’t watch those auctions. They are ridiculous. Most every day Joe’s like myself don’t have six or seven figures to spend on a classic car. I work on mine. I’ll probably never be done restoring it as there is always something that can be upgraded. I’ll just keep working on my 55 Chevy, knowing that I am doing and enjoying the restoration.

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Interesting article and discussion! I own 5 classic cars - solid number 2 drivers I bought on craigslist or FB marketplace. For all those cars, Hagerty suggested values were significantly (50-100%) higher than what I paid and saw on the market, at least in my area. I understand there’s a lot of subjectivity in ranking condition and there’s also regional variation. My cars are also insured with Hagerty for well-below their suggested values. Had to go through the claims process this spring for my Porsche 944 and worked out fine. Read the fine print tho on your policies- if I hadn’t had the ‘cherished classic’ addendum to my policy Hagerty would have declared my car totaled, hauled it away and not given me the option of keeping and repairing it. And all for damage to just one fender caused by someone backing into me. Yikes!! Hagerty comes across as a friendly company, but when it comes to claims they’re pretty much all business, and if I hadn’t had an addendum I randomly signed up for I would have been one unhappy camper.

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