Hagerty.com

25 cars losing steam as summer 2019 nears

Tahend… ever been to a Barrett-Jackson in your life? As a bidder?

Didn’t think so.

1 Like

This post is a perfect representation of the envy that motivates people today. Envy of their cars, their possessions and wanting the world to cave in on them. Tell ya what! Hagertys thinks my split window isn’t worth anything any more… why don’t ya come by and you can have it for a song. Hagerty probably won’t insure the poor junker any more, though. Lol.

For those that build a car from the ground up know you have a lot more money into them than you can sell them for… not to count the busted knuckles and sweat. Thanks Hagerty for realizing that some cars are worth more than the current market selling price, thank Brian in the claims department for the fast turnaround on the Fender bender claim in April … I’m on the road again. and thanks for the key ring you gave me at the spring 2019 - Open Car Show in Galveston.

Speaking as a retired claims adjuster who has handled literally thousands of total losses, on everything from classics to Hyundais, I always found that the values given by every price guide (including the Kelley Bluebook) were high. Typically the value is for a car that has been detailed, safety checked and prepared for sale by a dealer, not a typical owner “as-is” sale. Not including Hagerty, a lot of the price guides only include #2 and #3 condition cars in their average, which skews the average high. Incidentally, contrary to what most people think high Bluebook is not based on actual retail sales but on the price car dealers pay at the wholesale auction, multiplied by a secret formula that Kelley will not reveal (or at least that’s how they did it as 15 years ago). Auto auction prices even at dealer auctions are unrealistically high on older cars because the only ones that get taken to the auction are exceptional ones. I once saw a immaculate Ford Maverick sell at a dealer auction for around $1,500, which means that the book value on the car would end up being over $2,000 at a time when they were selling in the newspaper for $800 or less.

Thanks for your input. I’ll admit we noticed during the last update that Corvette values seemed below our suggestions. This was especially noticeable for mid-year Corvettes. We will investigate C3s a bit deeper for the next edition.

1 Like

No way a 63 split window vette loosing steam…maybe other C3’s after that year.

Well said! I’ve got a ‘80 924 and a NA Miata. They’re slow and they’re staying with me forever.

All I can say is I own a few classic Plymouth’s. The Hagerty valuation tool cannot give me a value on one of my Cuda’s. And the value it places on another is not even close to what I can actually get for it if I sold it in the open market. That being said it is a guide or a tool to give folks some idea on a starting point to begin a negiotion when a car is being sold. That’s all. They have guides for everything anymore. Coins, old bottles, Hummel collectibles. Gee even old pickle containers. So take it for what it is a guide. Oh. By the way I do drive my 6 figure Mopars on the road occasionally. But very carefully.

no worries…

don’t laugh but ebay has a sales section and it’s surprising what some of these c3s go for. The breadth and scope of the ebay sales section cannot be ignored. Would love for these cars to be worth more but then again, I’m not selling;)

IMG_2567.PNG

1 Like

The Hagerty folks on the phone explained (and convinced me) the option to add the coverage that allows you to keep the car instead of total it.
I wish regular car insurance companies had this option. I have had to “buy back” my car from other insurers due to extremely minor damage that the insurance company decided to total. Their offer was to give me an “equivalent” car that they found somewhere else in the country. I knew my car that I purchased new and loved and changed the oil etc. No way I would accept a car that they found that was way below Kelly Blue Book value that they claimed was equivalent.
So far, I love Hagerty!

2 Likes

I completely agree with NOSBS2T. I am someone that (due to life responsibilities) is patiently waiting for the opportunity to purchase (and knock off on my bucket list) the 924 as my entry-to-market Porsche. Hopefully it stays that way for the next little while! Done right, it’s a sleek vehicle. Done right, it can be a super smooth sleeper!

If you are the average guy and buy a car for an investment, Chances are you are going to be disappointed unless you get lucky and find a good deal. If you are a flipper you can wait and buy cars when the owner is in a financial bind and needs the money and make pretty good money most of the time. I’m not talking high dollar 6 figure cars here. I’m talking $ 20-30,000 drivers. I have mostly done well doing that and as a bonus I have gotten to own and drive cars I couldn’t afford in my youth. For some reason a lot of people don’t like flippers but I say there is room for everyone in the hobby. Price guides are a terrible way to establish what a car is worth but it is nice to know what is becoming hot and what is cooling down and that’s what I see Hagerty doing here. I appreciate it and like everything else take it with a grain of salt. Also to be honest I really don’t care about $500,000 cars What good are they for except to look at? That is a rich mans game and I find that type very, very boring. If you can’t work on and repair your own car. I’m not impressed I don’t care what it is. Just my 2 cents worth and most likely not even worth that

I’m with you, Danny. I get car mags about cars that cost more than my last home. I do glance at them but move on to more common, affordable vehicles. I’ve loved cars & trucks since my teens when I skipped school to peruse the lots. And I enjoy classics, collectibles or whatever u care to call them. Wish I’d never sold my 56 Bel Air! But… daily driver classics seem too expensive for potential profit after I forecast reasonable refurb expenses. Since values are so variable it’s scary for an old novice. I’m not a mechanic but have help w that. I realize I got off the current subject but input or educational recommendations would be appreciated. I want to dabble in tri-fives and late 40s to 54 GM trucks. Will consider anything, esp in the year 1970, my HS grad year. I prefer restored & mechanically upgraded as opposed to totally original. There u have it. Thanks, Jack

1 Like

I think Hagerty is very useful as a Guide, not the Grail. Frankly, I’m happy to see Reattas,
6 Cylinder Mercedes, Sevilles, and some others not attracting hysterical values. I’m watching several markets, and I will buy when I can get value. I certainly would not participate in Auctions. I buy cars I like, I am a buy and hold person, and since I don’t speculate but do purchase for my tastes and needs as well, it’s worked out pretty well.
The important thing is not to have any expectations.

Simple fact is that if younger people are getting priced out of the classic and collectible car market, they are equally being priced out of the new car market, residential real estate market, etc., etc.

I have a great deal of personal issue paying two, three, or more times the average cost of a car today then its value was 15-20 years ago; I largely regard many cars that I once hoped to someday own as cars that are now beyond my means. It’s sad but there still remains many cars that are still affordable for me and are still fun to own and drive. Like many who have already commented, I buy cars that I like and can afford. I rarely sell a car I assume that the time and money spent on them will not be fully recouped if the car is sold. If it is, thats a win.

Since every generation tends to favor the cars that were available when they were younger, my bigger worry is that the technology and disposable of today’s cars will spell an end to the future collectibility of current and future cars, which will force future generations into older, more serviceable cars, which would really price them out of the market, given supply and demand of available cars at that time.

All this rhetoric reminds me of BaT auctions. ‘Experts’ babbling on and on about a car on which they have no money with which to buy, talking about their Aunt Minnie who went to Rambler dealer in 1969 to trade in their old Studebaker and came home with a SCrambler, how the 928 is missing the plastic post cap on the battery, doing their best to bad mouth a car so they can pick it up cheap, blah blah blah. Why can’t we stay on point and quit bickering like our ‘genius’ politicians?

2 Likes

I have a great deal of respect for Hagerty. Their value guides have made it much easier to get coverage. Prior to Hagerty I had State Farm and they refused to believe that a car could actually INCREASE in value.

A number of cars on this list are not necessarily unappreciated but are coming down from overheated values and were long overdue for correction. I own a 1969 Mercedes 280sl - a model that was briefly commanding nearly $200K at auctions. They are now down 40% off their peak. I think everyone wants validation that they made a wise “investment”. While it may be a bruise to the ego when they go back down, realistically, those prices were unsustainable.

2 Likes

There are still great cars available that are going to go up and have plenty of room to do so.

How about a small coupe sports car, turbo 4, 6 speed manual, 235 hp, 224 lbs torque, 4 wheel drive, dual exhaust, top speed 156 mph, exotic materials, classic design that set a trend for a generation of new cars, 7000 rpm red line, out runs corvettes and even older Ferraris on a road course, gets 30 mpg, and is just now production stopped due to the high cost of manufacture, from a German supreme sports car manufacture???

It’s the Audi TT first year editions. Audi just stated it would no longer make it’s 2nd fastest car, behind the R8 (which is based on the TT & Lambo). TT’s can still be had for under $10,000. And considering the much lesser Honda T2000’s selling for well over $20,000. The TT is by far the best bargain and probable upside winner available today. Plus, they are just way fun to drive as an every day car. You can actually travel with, carry your luggage, and even grocery shop with it. Better get one now, before the world goes after them.

I keep hoping the the quirky nature of the 911 would erode prices sooner. These cars are not for the pinky ring gold chain set. I’m a hobbyist with these cars and track them often. It’s almost criminal what the “collectors” have done to these car prices. And the prices of parts are now astronomical as guy’s are pulling tubs from lake bottoms and selling them for $12k. But alas, I suppose everyone with a favorite marque feels the same.