Classic car values shift into slower gear

Classic car values shift into slower gear
 

According to the Historic Automobile Group, the latest prices for classic cars regained some ground in August. The organisation’s Hagi Top 50 index was almost unchanged last month, losing 0.18% month on month.

Year to date the index shows values down 3.42% but for the 12-month period they are slightly up by 1.52%.

According to the company, one of the major reasons for the recovery in prices is the success of the recent Monterey auction at Pebble Beach in the US where prices held their ground after a few disappointing auctions earlier in the year.

The Ferrari F40 now tops the list of appreciating classics, with its index weight standing at a healthy 7.2%. The Mercedes 300SL roadster sits in second at 7.1% followed by the McLaren F1 at 6.2%. Values of the Ferrari Dino continue to rise, with the model sitting at sixth in the index with a weighting of 4.5% as more information continues to emerge on Ferrari’s plans for a new Dino, possibly in 2018.

In terms of the individual Ferrari, Mercedes and Porsche indices, Porsche remains strong, showing a modest 0.78% gain in August with 12-month figures up 8.89%. However, the values are down 1.88% for the year to date, with the iconic 911 RS 2.7 Touring losing its top spot in the index to the Carrera GT.

Mercedes figures were down 1.12% in August but are positive in both 2017 so far at 4.87% and year on year at 6.49%. Ferrari prices were marginally up in August at 0.12% but the group says that buyers are being more selective with the year-on-year index down 4% and year to date down 3.8%.

Overall the Top 50 Index remains positive with a three-year growth of 28.02%. – AFP Relaxnews