Check out 'hottest collector cars of the summer'

(Hagerty Group L.L.C. photo)
1974 BMW 2002tii

TRAVERSE CITY, Mich. (July 6, 2016) — With the summer driving season in full swing, a classic car insurance firm has issued a list of what it deems the top 10 collector vehicles with the “highest levels of demand and momentum.”

Hagerty Group L.L.C.'s list includes vehicles “with positive value growth and momentum in private sales transactions, quote activity and auction results.”

“The major trend continues to be the clear emergence of ‘modern classics' from the 1980s and newer with new interest from younger buyers,” said McKeel Hagerty, CEO of Traverse City-based Hagerty.

“Our data allows us to measure the popularity of collector vehicles not just by value trends but by leading indicators like quote activity, private sales and other factors.”

The company picked out the following as some of the hottest collector cars of the summer:

  • 1986–1989 Mercedes-Benz 560SL — “Many buyers remember the 560SL as an aspirational car that signaled early career success for their original owners,” Hagerty said, noting the average sale price in the private market is up 22 percent over the last 12 months. A 1987 560SL starts at $46,300.

  • 1973–1986 Jeep CJ-7 — “Jeep and off-roading have long been an American fascination and the CJ-7 remains very popular in 4x4 clubs,” according to the company. Special edition packages such as the “Limited” and “Jamboree Edition” are seeing the most interest, “but any flavor can deliver open-air summer fun.” Quoting activity has been particularly strong, with an increase of 120 percent over the past 12 months, indicating rising demand among enthusiasts. 1983 Jeep CJ-7 Laredos start at $12,900, Hagerty said.

Do you own one or more of these classics? How about some other hot wheels? Tell us a little about your favorite ride(s) and share a photo with Tire Business readers. Send them to [email protected] or to Tire Business Managing Editor Sigmund J. Mikolajczyk at [email protected]. Please include your name, title, official business name, city and state where it's located, along with a daytime phone number and email address at which you can be contacted for verification purposes.

  • 1973–1987 Chevrolet C/K Series pickup — The company cited pickups as being one of the fastest growing segments for the past five years. “This is the first time this generation of Chevrolet pickup has outpaced the highly-sought-after 1967–1972 models. Ratings for this era of are being driven via the private sector, with a 9.5-percent increase in the number offered privately — an 11 percent rise in average sale price — and more than 38 percent of the cars selling privately are doing so for amounts above their insured values,” Hagerty said. 1973 C10s start at $12,200.

  • 1986–1992 BMW M3 — To many, the E30 M3 is the purest sports car from the 1980s, according to Hagerty. “If this is a car you've always wanted, you probably shouldn't wait much longer as values are only going one direction. Up.” Values published in the company's price guide have increased 86 percent over the last eight months, with 1990 M3s starting at $76,100.

  • 1982–1991 Porsche 944 — Whether younger buyers are priced out of the 911 market or just looking for something different than the norm, Hagerty said the 944 has recently gained a renewed following. “Expect to see many nice low-mile examples come to market in the near future, with pristine Turbos selling for surprising amounts.” The Hagerty Price Guide values for this model have increased 8 percent over the last 8 months, with 1988 Porsche 944s starting at $15,600.
  • 1997–2002 Plymouth/Chrysler Prowler — Once described as a car better to be photographed next to, “there is no denying the standout looks of one of the first modern retro cars,” Hagerty said, adding that Prowlers have been one of the hottest cars at auction over the last 12 months — with a 9-percent increase in the number offered, a 6-percent increase in average sale price and a strong sell-through rate of 72 percent over the last 12 months. Plymouth Prowlers, model year 2000 , start at $32,000.
  • 1966–1977 Ford Bronco — Today's SUV-dominated car culture continues to love the simple utilitarian look of the first generation Bronco, Hagerty said. “Coupled with excellent reliability and parts availability, the Bronco makes for an excellent first-time collector vehicle.” Activity in the private market has been particularly strong for these SUVs, with 1966 Ford Broncos starting at $24,800.
  • 1994–1999 Ferrari F355 — Hagerty described the Ferrari F355 as “a true performance car with a fantastic engine sound and great looks.” Its price gains “have lagged other Ferrari models over the past five years, which has suddenly made them relative bargains.” Hagerty Price Guide values have increased 39 percent over the last 12 months for these, though the company pointed out that the cost of ownership for these cars can be high, “so make sure to scrutinize service records.” 1997 F355 Spiders start at $68,900.
  • 1970–1974 Dodge Challenger — Early 1970s Mopar muscle cars have had the biggest swings in values going back to 2006, according to Hagerty. “After being impacted by the recession, they have recovered nicely, and Dodge fans are back to searching out as many ‘1 of 1' variations as they can find.” Challengers have been performing very well at recent auctions, the company said, with cars offered up by 17 percent and average sale prices up 41 percent over the last 12 months. A 1970 Challenger starts at $36,200.
  • 1968–1976 BMW 2002 — Called an iconic BMW, this model remains very popular, especially on both coasts, Hagerty said. Similar to other German cars mentioned in this list, their Hagerty Price Guide values have been especially strong for 2002 models, with an 18-percent gain over the last eight months. The company tabs the starting price for 1974 2002 tii's at $26,800.

Hagerty bills itself as is the “world's leading insurance provider for classic vehicles and host to the largest network of classic car owners.”

In addition to offering insurance for classic cars, trucks and motorcycles, the company also handles motorcycle safety equipment, tractors, automotive tools and spare parts as well as “automobilia” — which it calls “any historic or collectible item linked with motor vehicles.”

Letter
to the
Editor

Do you have an opinion about this story? Do you have some thoughts you'd like to share with our readers? Tire Business would love to hear from you. Email your letter to Editor Don Detore at [email protected].

SIGN UP FOR NEWSLETTERS