Classic Car Market Heating Up Again

But Are You, As a Classic Car Owner, 
Keeping Up With The Changes?

“In times of economic uncertainty, such as those illustrated by Brexit last month, the collector car market has shown ongoing strength, as buyers continue to seek out and invest in quality cars,” McKeel Hagerty, chief executive of the family-owned company, said in a news release.

The above bold text should be a clue to the advancing changes in the Collector Car Market. As noted in our past articles, anyone who owns a Classic should be developing a comprehensive vehicle dossier supported by all available history and documentation.  
Why is because of changing trends are demanding more and more details regarding the quality, condition and provenance of every Classic. And according to seasoned professionals, the only way to verify these details is through the use of documentation, regardless if your car is a ‘garden variety driver’ or one of the most highly coveted vehicles of all time.

Garagistry provides every subscriber with the tools and features to simplify the process within an efficient and easy to use online environment. You can also get started for free. But, this limited time offer is nearing its end.

  • For the first time in four months, the Hagerty Market Rating saw a sizable increase. At 69.07, July's rating is up 0.17 points from last month.
  • Auction activity saw the biggest positive movement of any section this month and is at its highest since December 2015. The number of cars sold is up 2 percent over last month and the average sale price is up 1.8 percent.
  • After its third consecutive drop last month, private sales activity increased, largely driven by an increase in the number of cars selling for above their insured values.
  • Despite these increases, requests for insured value increases for broad market vehicles fell for the tenth consecutive month and are at a 26-month low.
  • Insured value increases for high-end vehicles also decreased. This is their third consecutive drop and they are at a 17-month low.
  • Correlated instruments saw the most negative movement of any section this month, as the price of gold spiked to its highest level since February 2014 during the aftermath of Brexit.
  • June's reported rating was revised to 68.90 from 69.01 due to newly released inflation numbers.