Cars favored by Gen Xers and Millennials are poised for growth, according to Hagerty valuation experts
Car collectors are forever peering into their crystal balls to speculate which vehicles will rise in value, hoping to catch the tide on its way up. But for most, the profit motive is heavily mitigated by the fun factor – a collector car needs to be enjoyable to own more than just being a good investment.
With that in mind, Hagerty Magazine, the members’ publication of Hagerty classic car insurance and valuation company, has released its first Bull Market List of upcoming collector vehicles that satisfy both ends of the desirability scale.
“This list identifies a group of nine emerging classics that please the head and heart, providing a satisfying driving experience along with the likelihood of rising value,” according to a Hagerty news release.
The Bull Market List is featured as the cover story for the latest Hagerty Magazine, which also includes road tests and evaluations of the chosen few.
“If you’re in this game solely to make money, you’re really a car dealer more than a car enthusiast,” the article begins. “For the rest of us, we’re all about listening to the heart, which usually talks a lot louder than the head.”
The nine vehicles on the 2018 Bull Market List are:
2000–2006 BMW M3, the third generation of the compact hot rod from Munich
1979–1986 Jeep CJ-7, stretched for more capability but still keeping the faith
1989–2001 Mercedes-Benz SL, the fourth-generation of the legendary sports/GT car
1990–2001 Lamborghini Diablo, an ultra-exotic, mid-engine, scissor-door supercar
1994–1998 Toyota Supra Turbo, a rising star among Millennials
2010–2014 Ford Raptor, the rugged, performance-tweaked off-road pickup
2001–2005 Porsche 911 Turbo, a highly sophisticated road rocket
1993–2002 Pontiac Firebird Firehawk, the final gasp of Trans Am glory
1969–1972 Chevrolet Blazer, the full-size off-road SUV with style
Hagerty’s valuation team assembled the 2018 Bull Market List using data gleaned from the nearly 2,500 requests for insurance quotes Hagerty receives daily, the magazine notes.
“Seventy-two percent of the quotes that are requested from Hagerty come from Gen X and Millennials,” said Brian Rabold, vice president of valuation services for Hagerty. “Their tastes and interests are really driving the market now, including what’s considered popular and which vehicles grow or decline in value.”
Highlights of the Bull Market list findings include:
• The vehicles on the list rising fastest in value over the past three years are the 1990–2001 Lamborghini Diablo (+45 percent), the 1993–2002 Pontiac Firebird Firehawk (+31 percent) and the 1994–1998 Toyota Supra Turbo (+31 percent).
• The listed vehicles with the largest increases in number of insurance quotes provided in the past 12 months include the 1994–1998 Toyota Supra Turbo (+249 percent), the 1993–2002 Pontiac Firebird Firehawk (+98 percent) and the 2000–2006 BMW M3 (+82 percent.
• Search traffic for all nine vehicles combined has risen from almost nonexistent levels 5 years ago to more than 30,000 searches during 2017.
These findings show that collector interest in the Bull Market cars are gaining ground, and values are sure to follow.
“First and foremost, car enthusiasts want a car that, to them, is exciting and fun to drive, whether that means a high-end performance vehicle or one that simply captures their imagination,” McKeel Hagerty, chief executive of Hagerty, said in the news release. “But they also want something that’s a good investment.
“That’s what the Bull Market List represents – the sweet spot between the head and heart. If any of these cars interest you, our recommendation is to jump on them now.”