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Hagerty
Hagerty Employee

Broke our price guide: 5 wild sales from Indy and Amelia 2021 | Hagerty Media

May has been an active month on the auction calendar. With the Amelia Island auctions and the massive Mecum sale at Indianapolis taking place simultaneously, there was a lot of action across the automotive landscape, from affordable classics to the very tip-top of the market.
https://www.hagerty.com/media/auctions/broke-our-price-guide-5-wild-sales-from-indy-and-amelia-2021/
33 REPLIES 33
Gary_Bechtold
Instructor

That LFA is gorgeous. I'd take it but the check won't clear. I'll take the Viper too.
mariaanthony963
New Driver

Yes it is how are you Gray
BeatCancer
Pit Crew

People complained about the LF-A price when it came out. Take the collectors/speculators profit away from them. Price your cars high. Corvette's latest version GM should double the price and lower it as needed. Same with real estate. Most real estate in my area is very underpriced and should have at least 20% higher bottom-lines Adopt the UK pricing model of "Offers FROM"... the bottom you will accept. Not "negotiate me down"

For a capitalist, pro-market force driven society, USAmericans get a lot of stuff wrong. Auction-driven pricing, such as BAT, proves this.
Still443
Intermediate Driver

A rising tide, etc. I just sold my C7 Z51 Corvette Convertible for $3K more than I paid for it used 4 1/2 years ago... with 5K miles added to the odometer.
ebjjs
New Driver

Thanks Karl, appreciate the lesson in economics.
Timbo
Intermediate Driver

I'm surprised that the 200 MPH Daytona didn't get better bids. Mecum was probably the wrong venue as Parnelli Jones' car was pushed over others.
GrumpyOne
Pit Crew

...and of course no mention the Studebaker's R-5 DuoCento Avanti which fell short of its intentioned 200mph goal by a measly 2mph at the Salt Flats in September/October of 1963! Of course this was well before the commencement of the "muscle car" era some years later...
Jheff123
New Driver

How about the sage green ‘65 Austin Healey BJ8 selling for $168k at RM? A beautiful car and VERY well sold!
Jlh
mariaanthony963
New Driver

How are you doing today hope you are having a nice time today
MATTMERICA
Instructor

I was actually pretty surprised at the (low) values, and here are my takes, not that anybody cares lol:
The Viper seems like a good deal, even in that color, because I routinely see older Vipers going for well above $99k and they are less performance and not in concourse shape. At the end of the day, the late model Vipers have the big time performance - this one is lucky to pull a 4.5 0-60. Yes, I know, it is unlikely that the buyer will be out stop-light racing, but I know I would be, and if some woke millennial in his 328xi roasted me at the walmart stop light, I would feel the shame.
The Jeep Honcho, the Macho Wagons, the cool 70s trucks and vans - they are blowing up, and they should be - not many of them left. With so few and and even less in good condition, get ready for some serious increases in value. So that $66k seems like a good buy right now. Finally, these particular examples don't seem to be covid-money run ups, they seem about right to me.
WAB
Intermediate Driver

I would have said the 1979 International Scout that went for $82,500...........amazing original vehicle....even more amazing price.
Greg_I
Advanced Driver

That was a spectacular Scout. We probably could’ve just aria price in trucks that broke the price guide.

83ragtop50
Intermediate Driver

The 1997 Camaro styling leaves me cold. The other 4 cars are way more interesting to me.
Iso_Grifo
Advanced Driver

When a manufacturer decides they're going to build a car up to a standard rather than down to a price, high values until the end of time are to be expected. Cars like the LFA, the second gen. GT40, are cars from mass production companies who normally build down to a price, but because they decided to build up to a standard instead with these specialty cars, and shot for the Moon when they did it, they appreciate like a McLaren F1 or limited Ferrari top models do.
40Ford
Detailer

A 2018 Ford GT on BaT SOLD FOR $1,050,000 ON 5/28/21
Tim
Instructor

That Camaro is the most hideous example of the most hideous generation of Camaros. I would sooner have put that money into a better example, like a '68.
sclin10
Detailer

What, no Broncos?
Gordyc
New Driver

People have just way too much money!
JRBucks
Pit Crew

No offense but your price guide has been broken for the better part of a year now.
Greg_I
Advanced Driver

@JRBucks I’m the editor of the price guide. If you have any specific critiques about it or where you believe we missed the mark I’d be glad to hear them.

 

Also, no offense taken.

JRBucks
Pit Crew

Well Greg I'll throw out 2 examples. 2008 Porsche 911 average value $28k.  2012 Porsche 911 GTS average value $54k.  Neither car exist at those price or close to them.  I could on and on with other multiple examples. The last 6 months and especially the last 4 months have broken "All" the valuation guides.  

Greg_I
Advanced Driver

Thanks for the feedback, we’ll make a point of doing a deep dive on those for our next price guide update.

TrackT4
New Driver

The car that stood out for me was the Gene Hetland's 1932 Ford 3-window couple hot rod selling for $300,000 against an estimate of $100,000-$125.000.
WAB
Intermediate Driver

I would have to agree.........that was an extremely well built, period consistent sorted out example of the best model of 1932 Ford........I'm sure he had well north of that in it. Good to see Street Rod prices starting to approach Resto-Rod prices for quality pieces.
Would love to have that in my garage......
drhino
Instructor

The Viper (generally) is a very interesting car. Raw, unrefined; just a car— no BS. Love that! The styling doesn’t work for me. Too heavy in the front, and it almost looks broken at the area where the door and front fender (don’t) meet. The coupes provide more balance to the look and the second gen cars have much better lines. All that said; I will never be able to get past the fact that they sound like an old garbage truck. That V-10 just doesn’t have “it” audio-wise.
SJ
Advanced Driver

They did improve it slightly later on, but yeah I was surprised/chagrined the first time I saw/heard one. Still a neat car though, maybe because Carroll had some input on it.
Reason
New Driver

As a minor collector in the classic car world, I'm alarmed at the giant bubble we are in. Pay attention folks, every major collector is selling off their entire collection and have been doin so for the last couple of years. These people are wealthy collectors that see a a significant loss in the coming years and are bailing out. The primary classic car buyer today is the 60 year old guy with a pony tail; young people are just not interested in cars these days. One of the most egregious drivers of inflated classic car prices is BAT. Some hapless folks sit at home and keep hitting the bid button until the car(s) is horrendously overpriced. As an appraiser, I advise people to only buy a classic car because they want to enjoy it and to expect depreciation like they would in any other purchase. Also the green movement is going to further limit the use of older cars. Think long and hard before you push the bid button.
1954-24OldsST
New Driver

The price appreciation is nuts, but then it has been since the 50's.
VolvoSleeper
Pit Crew

That Camaro has nothing going for it. I’d not take it for a daily driver regardless of condition
hothmob
New Driver

breaking prices is one thing, but the overall trend is away from low-soul bling rides to 'revived beaters'.
I mean, to pay $378,000 for someone-else's investment project is simply a way to spend $, not enjoy it. I'd much rather take a busted barn beater and transform it back into a functioning method of transport,... with soul.
As you can tell, these big auction sales are not my thing- but the numbers don't lie either: these auctions represent 1% of the classic car market (anything before 1996 ish sales). Most buyers are investing in the Auto market at a whole different level, and purpose. (to restore, sentimental reasons, recapturing youth, learning new skills, or just buying a 50-year-old car and connecting to the actual mechanics of driving)
I wish Hagerty was hip to our segment of classic market. I'm soooooo tired of these trust-fund bling-puffs that no-one will drive.
Sajeev
Community Manager

While this segment isn't for everyone, the trend of price increases/decreased generally trickles down into the realm of more reasonably priced cars. So what exactly is your segment of the classic market?

 

Because we have a team of writers that regularly produce content for DIY, restoration, Reader's Rides, and more. I should know, I am one such writer. You should bookmark this website and see it all: https://www.hagerty.com/media/

mcjaxon
New Driver

When do you update your guides? I noticed today (June 1th, 2021) that the 1997 LT4 S still has a Hagerty concours top value of $39,200. Clearly, this gem has reset that upper bar (and presumably the value of LT4 SSs below concours as well). Any idea when Hagerty will get around to updating these values?
Andrew
Hagerty Employee

The updated pricing on Hagerty Valuation Tools goes live every January 1, May 1 and September 1, so keep an eye out in September!