Editor’s note: Earlier this week we published Hagerty’s “Bull Market” list for the United States. Following is the company’s similar and inaugural list for the UK, where 10 “rising stars” are suggested.
Hagerty has identified 10 vehicles available in the United Kingdom that it deems to “provide the owner with a pleasurable driving experience while also predicting which makes and models could be bought without fear of them losing money.” Thus the company’s first “Bull Market” list for the UK.
“The list isn’t tailored to investors,” Hagerty says in its announcement. “It’s aimed at people who want to find, buy and drive a vehicle they love.
“The standout advice from Hagerty experts is to buy any classic car with your heart as they are built to be enjoyed and driven as often as possible. Buy a car you like first and foremost, and should it deliver a healthy return financially, consider that an added bonus.”
While downplaying potential increases in vehicle values, Hagerty does note that it’s been providing such lists for five years in the United States. It notes that since being included on its earlier US lists, the Toyota MR2 has increased 30 percent in value and the BMW M3 has experienced an average rise of 20 percent in value.
“For the inaugural 2021 Hagerty UK Bull Market List, the selection of cars highlighted by Hagerty is wide and diverse, meaning there should be a car to suit most tastes,” Hagerty added.
The inaugural UK “Bull Market” list (with comments from Hagerty and its experts):
Aston Martin DB7
The average Hagerty Price Guide ‘excellent’ value across the DB7 range has dropped from £37,680 in 2019 to £31,580 today. But it’s an Aston Martin and will surely bounce back. As thecars age and miles creep up, well-preserved examples should become more sought-after, now may well be the time to buy while prices are low.
Ferrari 328 values shot up in the first half of the 2010 but since then it has dropped annually as the appetite for modern-classic Ferraris subsided. From 2016 to 2019, values fell at roughly 11 percent per annum, but last year this reduced to just 2 percent. It has all the markers of a successful classic: a legendary manufacturer, rarity and an ‘80s look that is so attractive.
Ford Focus (Mk1)
Hagerty has long championed the unexceptional saloons, estates and hatchbacks that take us to our offices, drop our kids at school and transport us on holiday. Values for the Focus are low: even an ‘excellent’ example can be purchased for around the £1,400-mark, fair ones for much less. We believe that this is a very small outlay for a piece of automotive history that drives as good as it looks.
Jaguar Mark II
The Jaguar Mk II is an iconic classic which has been collected and cherished since the day it was first sold. In recent years, prices have been relatively steady, however, values have already risen by nearly a third this year. We feel that the Mark II Jaguar still has potential for growth and now may be the time to buy.
Land Rover Discovery (Series 1)
Values of classic Range Rovers have rocketed over the last five years, and we believe it’s about time the Series I Land Rover Discovery followed suit. Until recently, even the best could be bought for a few thousand, but in recent months, exceptional examples have achieved much more: in June, CCA sold one for £12,320.
Mercedes-Benz SLS AMGAs with most modern performance cars, values tend to dip at first and until very recently advertised prices were dropping each month compared with 12 months previously. From September 2020, asking prices rose: the convertible by 2.3 percent and the coupe by 2.5 percent. As Mercedes gears up for the era of electrification, the SLS could be a high-tide mark from the petrol era.
Values of all variants of the Mk 1 Austin/Morris Mini Cooper have been increasing in value over the last few years, but Hagerty believes they have the potential to rise again in 2021, thanks to the 60th birthday. The first 997cc model also seems somewhat undervalued, given the prices asked for its later, larger-engined brethren.
Porsche 944 S2
The 944 is still available for just a few thousand pounds. Our pick of the bunch is the naturally aspirated S2. More drivable than the Turbo but with just 10 horsepower less, the 3-liter S2 briefly shot up in value in 2016, and after a quick correction has been gaining steadily in value ever since.
Best examples of the 944 S2 now sell for in excess of our top Hagerty Price Guide figure: always a sure sign values are moving.
Renault 5 GT Turbo Hot hatches are the modern classic cars of the moment and values of popular models have soared, but one is still obtainable and it’s more powerful than them all. With 115 horsepower on tap the Renault 5 GT Turbo has a current value of £12,900 and still looks as if it has significant potential to climb.
Toyota MR2 (Mk3) How long can a car like the Toyota MR2 remain a secret? Even a rare unmolested example will only set you back a few thousand pounds. It has Toyota’s robust mechanicals and leather or Alcantara options make the interior not a bad place too. With our HPG ‘excellent’ value at just £4,100 the roadster from Japan seems undervalued.
“The Hagerty valuation team tracks many thousands of cars every year, but these really stood out,” said Jo Mayhead, head of Hagerty UK Valuations. “It’s a wonderfully diverse list that offers cars that are accessibly to many enthusiasts. Although changes in the value of a classic car may be far from an enthusiast’s mind, these cars may offer the chance for some of their ownership costs to be offset if they rise in value as predicted.”