Auction Activity

[Richardnew]

The auctions at Monterey set new records. Last week in Texas a street Corvette went for $3.2 million. The market is getting really heated. Here's an article I wrote about auctions for Vintage Motorsport magazine a few months back. This year over 20,000 collector cars will be sold at these auctions.

Richard Newton

[BrentF]

Yeah, I saw that. The Corvette in question was a '67 with the L88 engine option. One of only 20, I believe.

I am curious to see what Hagerty collector car values reflect when they update their valuation numbers for August.

[Jay Laifman]

I heard about that. But didn't people report on this site that the Porsches did not seem to be heated.

[Richardnew]

I think we have a really strange market right now. All of the million dollar (and up) cars are having huge increases. The cars below a million are pretty flat. This seemed to be the case at Monterey. Maybe it's the hedge funds guys? They get blamed for everything else.

Richard Newton

[POS]

Look at what's on TV. So many car-related shows. It's now fashionable to be into cars - like it was fad to be into Harleys in the 1990s-2000s. They've even made a fashionable name for a garage - "man cave". When cool dudes with money want to be fashionable, they start buying. There ya go - my opinionated summary of he current classic car market.

PS - I know some hedge fund guys; they deserve a lot of blame.

[Peanut]

Hagerty sent an email out today re values... Here's the second paragraph, and a link below (which hopefully works):

As has been the trend for the past several years, high-dollar market segments are exhibiting vigorous improvement. This is most acutely seen in our Blue Chip, Ferrari, and German Car indices, which all jumped at double-digit rates — the Blue Chip at 10%, the Ferrari index at 15%, and the German index showing the most strength at 16%. This is the first time since January 2008 that the three premier indices have achieved this feat. This is also the first time since early 2011 that all three have increased their rate of growth for three consecutive periods. If you thought sale results seemed superheated, they are.

http://www.hagerty.com/Classic-car-a...s%2009-18-2013

[BrentF]

Hagerty's German Index consists of:

1979 Porsche 911 Coupe 6-cyl. 3299cc/265hp FI
1956 Porsche 356A Speedster 4-cyl. 1498cc/128hp 2bbl
1967 Porsche 911 Targa 6-cyl. 1991cc/180hp 2bbl
1959 Porsche 356A Coupe 4-cyl. 1582cc/88hp 2bbl
1962 Porsche 356B (T6) Roadster 4-cyl. 1582cc/90hp 2bbl
1972 Porsche 911 Coupe 6-cyl. 2341cc/210hp FI
1965 Porsche 356C Coupe 4-cyl. 1582cc/75hp 2bbl
1973 Porsche 911 Coupe 6-cyl. 2687cc/210hp FI
1948 Porsche 356 Coupe 4-cyl. 1086cc/46hp 2bbl
1971 Mercedes-Benz 280SL Roadster 6-cyl. 2778cc/180hp FI
1970 Mercedes-Benz 280SE Convertible
1973 BMW 2002tii Sedan
1973 BMW 3.0CSL Coupe 6-cyl. 3153cc/203hp FI
1979 BMW M1 Coupe 6-cyl. 3453cc/277hp FI
1955 Mercedes-Benz 300Sc Cabriolet
1958 Porsche 356A Speedster
1959 BMW 507 Roadster
1957 Mercedes-Benz 300SL Coupe 6-cyl. 2996cc/240hp 2bbl
1962 Mercedes-Benz 190SL Roadster 4-cyl. 1897cc/120hp 2bbl
1963 Mercedes-Benz 300SL Roadster 6-cyl. 2996cc/250hp Bosch FI
1970 Mercedes-Benz 600 Sedan 8-cyl. 6329cc/300hp Bosch FI

[merbesfield]

No doubt a lot of people w money have decided to become collectors, which to me is not a good thing for the people who actually like to drive their cars. I don't see these levels of increases continuing, but what do I know. Don't get me wrong, I don't mind it too much, but when it becomes like reading the stock market reports it does tend to take away from some of the fun.

[merbesfield]

Hagerty's German Index consists of:

1979 Porsche 911 Coupe 6-cyl. 3299cc/265hp FI
1956 Porsche 356A Speedster 4-cyl. 1498cc/128hp 2bbl
1967 Porsche 911 Targa 6-cyl. 1991cc/180hp 2bbl
1959 Porsche 356A Coupe 4-cyl. 1582cc/88hp 2bbl
1962 Porsche 356B (T6) Roadster 4-cyl. 1582cc/90hp 2bbl
1972 Porsche 911 Coupe 6-cyl. 2341cc/210hp FI
1965 Porsche 356C Coupe 4-cyl. 1582cc/75hp 2bbl
1973 Porsche 911 Coupe 6-cyl. 2687cc/210hp FI
1948 Porsche 356 Coupe 4-cyl. 1086cc/46hp 2bbl
1971 Mercedes-Benz 280SL Roadster 6-cyl. 2778cc/180hp FI
1970 Mercedes-Benz 280SE Convertible
1973 BMW 2002tii Sedan
1973 BMW 3.0CSL Coupe 6-cyl. 3153cc/203hp FI
1979 BMW M1 Coupe 6-cyl. 3453cc/277hp FI
1955 Mercedes-Benz 300Sc Cabriolet
1958 Porsche 356A Speedster
1959 BMW 507 Roadster
1957 Mercedes-Benz 300SL Coupe 6-cyl. 2996cc/240hp 2bbl
1962 Mercedes-Benz 190SL Roadster 4-cyl. 1897cc/120hp 2bbl
1963 Mercedes-Benz 300SL Roadster 6-cyl. 2996cc/250hp Bosch FI
1970 Mercedes-Benz 600 Sedan 8-cyl. 6329cc/300hp Bosch FI

Not a very deep Index IMO.

[edmayo]

No doubt a lot of people w money have decided to become collectors, which to me is not a good thing for the people who actually like to drive their cars. I don't see these levels of increases continuing, but what do I know. Don't get me wrong, I don't mind it too much, but when it becomes like reading the stock market reports it does tend to take away from some of the fun.

Well said Mark,,,well said,