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The 10 Most Collectible Cars for 2013

Hagerty Hot List picks most likely classics in 20 years.

by on Feb.04, 2013

The reborn SRT Viper, (shown with the old Dodge version), is the most expensive model on the 2013 Hagerty Hot List.

It’s been a good year for classic car collectors – and even better for those who have put their cars up for auction.  All sorts of records fell during the annual gathering of collectors in Scottsdale, Arizona last month and observers expect to see even more tumble in the months to come.

There are some vehicles, like early-model Ferraris and rare ‘60s muscle cars, that always seem to command a high price when the gavel comes down. But there are plenty of other collectible models that also do well for owners.

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So, if you’re looking to buy a new car not just to drive it today but perhaps to have a collectible 20 years from now, how do you know what to pick? That’s where the Hagerty Hot List comes in. It’s the work of Hagerty Insurance, one of the industry leaders in providing coverage for classic cars. And the list is designed to provide a tip sheet on reasonably affordable vehicles from the 2013 model-year that are likely to be in high demand 20 years from now.

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Pebble Beach Auction Tally Tops All-Time Record

$11 mil for a Ford.

by on Aug.20, 2012

This GT40 Le Mans winner nabbed an $11 mil. all-time record bid for a Ford.

What economic downturn?

Auctioneers gaveled in a record $260.3 million in sales over the long Pebble Beach Concours d’Elegance weekend, shattering last year’s $197.5 million tally, according to preliminary numbers compiled by Hagerty Insurance, which specializes in classic and exotic automobiles.

The strong performance came despite a decline in the actual number of vehicles being auctioned off during the four-day gathering. And the figures actually could go higher as some cars that didn’t hit their minimums during the auction could still be sold before the five biggest auction firms break down their tents.

The top seller was a 1936 Mercedes-Benz 540K Special Roadster that garnered a winning bid of $11,770,000 at the Gooding auction house.  That was more than many had anticipated – but fell short of the $15 million figure some had expected.

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Perhaps the biggest surprise, however, was the $11,000,000 that RM Auctions nabbed for a 1968 Ford GT40 Gulf/Mirage Coupe. It has a strong pedigree among the very limited run of supercars that the late Henry Ford II ordered built after the Detroit maker failed in its bid to purchased Ferrari, back in the 1960s.  This particular GT40 won the grueling 24 Hours of Le Mans endurance race four years in a row, from 1966 to 1969.

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Picking Tomorrow’s Top Collector Cars

Hagerty identifies “emerging collectibles.”

by on Jan.20, 2012

The new collector car? An original Honda S800.

Okay, just maybe a Saab 9-4X might turn out to be something rare a decade from now considering how few rolled off the assembly line before the Swedish automaker went belly-up. But we’re having a hard time believing that something from the final year of the Pontiac Aztek will ever count as having a “collector car” in your garage.

The reality is that there are an awful lot of different products on the market, and plenty more used vehicles you can choose from.  So, if you were really interested in starting a hobby as a collector – and didn’t have a seven-figure nest egg to tap – where would you begin.

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Luckily, we’ve got some friends in the right places, notably including McKeel Hagerty, the CEO of Hagerty Insurance, to lend some help.  Don’t bother to question his bona fides.  His firm is one of the largest in the business serving automotive collectors and that means he’s got the data to show what’s trending up.

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First Classic Car Auctions of ’10 Deliver Mixed Results

No fire sales, but no records, either.

by on Jan.25, 2010

The annual Barrett-Jackson Auction has spurned a classic car industry, each January, in Scotsdale.

Even the windstorm that flattened two tents, damaging 100s of classic cars waiting to go on the auction block couldn’t dampen the enthusiasm at what has become the biggest week of the year for collectors who gathered in the tony Phoenix suburb of Scotsdale, over the past week.

The weekend has been a must-attend for more than a decade, starting out with the granddaddy of Scotsdale events, the annual Barrett-Jackson Auction and now including five other events that aim to serve every possible niche of the classic car market, from muscle cars to rare and exotic imports.

Preliminary figures from the four largest events show sales of about $135 million in classic metal.  That’s almost identical to last year’s numbers for the Barrett-Jackson, Russo & Steele, Gooding and RM Auctions.  And the figures actually would’ve been higher, says David Kinney, Publisher of Hagerty’s Cars That Matter, were it not for the windstorm that brought down the two Russo & Steele tents.

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On the other hand, Kinney cautions, the auctions gaveled off more cars, this year than during the devastating January 2009, when the economy was in freefall, so buyers paid less, on average.  At the 800-pound gorilla of the auction scene, the annual Barrett-Jackson, the typical car was auctioned off for $54,814, a bit less than a 4% decline.  But at Gooding, which specializes in exotic autos, the average price slipped from $386,226, last year, to just $297,368.

“Doldrums may be a good way to describe it,” suggests McKeel Hagerty, a long-time auction observer and owner of Hagerty Insurance.  “The quality wasn’t the wall-to-wall perfect cars we would have seen in prior years.  Some of the best cars just aren’t coming to market right now.  People are waiting for the market to improve before selling.”

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