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Posts Tagged ‘collector cars’

Hagerty’s Hot List: The 10 Most Collectible Cars of 2015

Price isn’t the biggest factor in making the list.

by on Mar.09, 2015

The first 500 Alfa Romeo 4Cs sold in the U.S. get the "Launch Edition" name, becoming an instant collectible.

Most cars are just basic transportation, but a few transcend the moment. Oh, to have bought – and kept – a 1970 Plymouth Hemi Superbird, a 2003 Ford GT or a Ferrari 250 GTO.

If you’re looking to buy a new car this year but want to get something that won’t be just another commodity, losing value every year until it’s time to trade in or, worse, send it off to the junkyard, McKeel Hagerty, head of the leading classic car insurance company, puts together an annual list of the new models most likely to become collectibles.

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“They all have some characteristics that are shared by the great collectible cars” of years past, says the CEO of Hagerty Insurance. (more…)

The Top 10 Future Collectible Cars

Hagerty names the best at under $100,000.

by on Jan.08, 2014

Topping this year's list of future collectibles is the Jaguar F-Type R, the new coupe has been described as the “spiritual successor” to the British maker’s legendary E-Type.

Walk into a showroom, plunk down your money and within a few years that new car will likely be worth a fraction of what you paid. Or so it goes with most vehicles, but there are a handful of models that will defy the aging process only to become collectibles that buyers not only covet but that they’ll be willing to pay a premium for.

How do you sort out the mundane from the someday rare and unique? It helps if you know someone like McKeel Hagerty, the president and CEO of the eponymous Hagerty Insurance and a recognized expert in the car collector world. For those who don’t know McKeel on a first-name basis, no problem. He’s offering up his annual Hot List, a guide to the vehicles – notably priced at under $100,000 – that are most likely to be tomorrow’s collectibles.

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“Most new car news focuses on the latest interactive technology, alternative power sources, and the race to increased efficiency,” Hagerty explains. “But for a car to be collectible in the future, it has to be cool right off the assembly line. A collectible car has to grab you and not let you go.” (more…)

Picking the Best-of-the-Best at Pebble Beach

Rare win for an American classic at Concours d’Elegance.

by on Aug.19, 2013

A 1934 Packard 1108 Twelve Dietrich Convertible Victoria owned by Joseph and Margie Cassini of West Orange, NJ takes honors as the winner of the 2013 Pebble Beach Concours d'Elegance. Photo Courtesy Autoblog.

It’s been a couple of nail-biting weeks for Jeff Lotman. The Los Angeles car collector has been waiting three years to see the final results of the costly, ground-up restoration of his 1957 BMW 507 Roadster. He might have been fine with the wait if he hadn’t entered the groundbreaking two-seater into the annual Pebble Beach Councours d’Elegance.

There are collectors who wait years to get an invitation to exhibit on the lawn of the Lodge at Pebble Beach, something Lotman described as “the pinnacle” for “a car guy.”  And he’s not alone. A select group of 275 rare and unusual automobiles were on display this weekend, more than a few just barely making it after restorations that could take years and, in some cases cost more than $1 million to complete.

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These days, there are dozens of significant classic car shows around the U.S.  Indeed, more than a million people gathered in the suburbs of Detroit over the weekend for the annual Woodward Dream Cruise, an homage to the era of hot rods and muscle cars. But no event quite matches the grandeur – or celebrity of the Pebble Beach Concours, an event that boasts a mix of four-wheeled and two-legged celebrities that routinely includes the likes of actor Jerry Seinfeld and TV talk show host Jay Leno, the latter visible seemingly everywhere shaking hands with fans and taping scenes for his own collector car program.


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.


What Troubled Economy? Scottsdale Classic Auctions Rake in Over $180 Million

First-off Corvette 427 Convertible nabs $600,000; Mercedes gullwing nears $5 mil.

by on Jan.23, 2012

The winning bid and fees for this 1955 aluminum-bodied Mercedes Gullwing neared $5 million.

The economy may still be in trouble but one would have had a tough time believing it in tony Scottsdale, Arizona over the weekend, where bidders flashed their cash in a bidding frenzy that generated tens of millions of dollars in sales during the city’s annual classic auction extravaganza.

Final figures from the well-known Barrett-Jackson and five other auctions indicate they generated about $182 million in sales, with a rare aluminum-bodied Mercedes-Benz gullwing coupe commanding $4.62 million after commissions were added in.  Meanwhile, charities netted a cool $600,000 for the first-off-the-line Chevrolet Corvette 427 Convertible – as much as eight times what it would go for in a dealership later this year.

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The final sales total was up from $157 million in 2011, and was well beyond initial expectations, McKeel Hagerty, head of the classic car insurance firm, Hagerty Insurance, telling that, “Across the board, everybody had solid sales.”  Hagerty added that a number of collectors returned to Scottsdale after being out of the market for several years.

On the other hand, he said, there was “definitely not the irrational exuberance (of a decade ago).  It’s a smarter market.”


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.


Chevy Camaro Named “Collectible Vehicle Of The Future”

Will it still “turn heads” in 2035?

by on Dec.10, 2010

The Chevrolet Camaro: most likely to "turn heads in 2035, according to members of the National Automotive History Collection.

By varying count there are more than 200 different models on the U.S. market, these days, but how many really make much of an impression?  And which, if any will likely “turn heads” in a quarter century?

That was the question posed to members of the National Automotive History Collection, who were asked to look at 13 of the year’s most distinctive models produced in North America and pick which one would be most likely to “turn heads in the Woodward (Dream) Cruise of 2035,” in the words of NAHC chairman Charles Hyde.

Their pick?  The Chevrolet Camaro coupe, which was voted the “Collectible Vehicle of the Future”

“Our mission with the 21st century Chevy Camaro was to draw on the passion and heritage, expressing it in a new and modern car with design, technology and quality to carry the legacy forward,” said Tom Peters, the pony car’s chief designer. “It’s simple; the new Camaro puts smiles on the faces of car enthusiasts of all ages.”

The Collectible award has been handed out – with the exception of a five-year gap, from 1997 to 2001 – to an assortment of models, all of them notably from one of Detroit’s Big Three brands.

With rare exception, the NAHC’s choices (shown below) have focused on performance vehicles, like the Dodge Viper SRT10 and the 2005 remake of the Ford Mustang, though a few sleepers have crept into the list, including the Ford Flex “people mover,” and the Chrysler Sebring Convertible.

Whether the selections hold up remains to be seen though, after a decade-and-a-half, the first year’s choice – or, more accurately, choices, as the NAHC jurors picked both the Buick Riviera and Oldsmobile Aurora in 1995 – are still distinctive to look at, all the more so in an era when General Motors design was at a decades-low point.

Housed in downtown Detroit’s Skillman Library, the NAHC lays claims to being the world’s largest publicly available archive of automotive documents, photos, manuals, company histories and other industry lore.

James Bond’s Aston Martin DB5 for Sale

Goldfinger and Thunderball movie prop to go on auction block.

by on Jun.01, 2010

The DB5, registration number FMP 7B, is one of only two of the original 007 DB5s.

The 1964 Aston Martin DB5 James Bond car will be auctioned this fall at the Battersea Evolution in London on 27 October.

What is arguably the world’s most famous movie prop is expected to bring in excess of $5 million, according to RM Auctions, which is handling the sale in association with Sotheby’s.

The DB5 is the only remaining one of the two original 007 DB5s. It was filmed with Sean Connery behind the wheel in the Goldfinger and Thundberball spy fantasy movies.

The car was modified with so-called Q-Branch gadgets, including machine guns, a bulletproof shield, revolving license plates, a tracking device, a removable roof panel, an oil slick sprayer, a nail spreader and a smoke screen – controlled from toggle switches hidden in the center armrest.

“Like ‘Q’, we never joke about our work, which is why RM is consistently entrusted with the sale of the world’s most significant collector cars like the real 007 Aston Martin DB5 movie car,” said Max Girardo, Managing Director, RM Europe.


1936 Bugatti Becomes World’s Most Expensive Car

Sells for nearly $40 million.

by on May.05, 2010

With a price tag reportedly running near to $40 million, this 1936 Bugatti Type 57SC is now the world's most expensive automobile.

While we may never know the exact price paid for what is known as the Williamson Bugatti, the rumored price tag of nearly $40 million will handily make it the most expensive automobile in the world.

More formally a 1936 Bugatti Type 57SC Atlantic, this rare example of rolling French art deco styling was sold at a private auction, sometime last week, by the California-based auction house, Gooding & Company.  Details of the transaction aren’t being released but insiders hint the price tag was somewhere between $30 million and $40 million, which would handily exceed the previous record price paid for a car classic.

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In May 2009, a 1957 Ferrari Testa Rossa was gaveled off for $12.2 million at an auction near the company’s headquarters, in Maranello, Italy.


There is a Bright Side to Dealership Closings

It is a new place to store your collector car!

by on Jan.10, 2010

One of the problems with owning a collector car, aside from spousal nagging, is where to store it, especially in the off-season of winter storms in certain latitudes. Even the South has been buried in recent weeks under two-foot snowfalls.

There is a truism along the lines that one man’s misfortune is another’s good luck. And so it is with storing your four-wheeled treasure: a former auto dealership facility.

As everyone knows, the current economic recession’s effects are especially hard-felt around the Motor City, on account of the roughly 38% drop from a 16-million-unit sales year to one of “merely” 10-million cars and trucks. This is on top of the nationwide real estate burst bubble from fraudulent mortgages that is highly concentrated in Florida, Nevada and California—and Detroit.

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There is now a new, and nationwide trend as a result of the auto industry’s anguish about 2,000 closed auto dealerships from coast to coast are in play. These came about from (1) GM and Chrysler being forced to cut off low-selling franchises (although a “cash and carry my vote” Congress is meddling some here), (2) GM eliminating complete dealership networks by discontinuing Pontiac and Saturn, and (3) just the normal friction of business failures as the economy is in the deepest and longest recession since the great depression.   (more…)