Today’s auto enthusiasts are favoring collectible cars made from the 1980s to 2000s over blue-chip classics, according to Hagerty, a Michigan-based provider of specialty insurance for classic vehicles.
Nine cars on Hagerty’s annual Bull Market List—a collection of 11 cars with the best potential to hold or increase in value in 2023—were built in the last four decades, six of which from after 2000. Only two vehicles, the 1938 Harley and the 1969 AMX, represented traditional classics.
“Trends are pretty clear that what we call the ’80s and ’90s cars are officially hot,” says Larry Webster, Hagerty’s senior vice president of media and editorial. “Blue-chip cars from earlier years are now being replaced by the cars from the ’80s or ’90s as Gen X car collectors and enthusiasts get into their prime-earning years.”
The list, released Wednesday, is based on data from millions of insured vehicles, public auction results, and the “lookups”––how many people called or used valuation tools for a quote on a specific car.
Topping the list was the 1992-2006 AM General Hummer H1, with prices ranging from US$105,000 to US$127,300. Gen Xers—the biggest fans of collectible SUVs—own more than half of the Hummer H1s insured by Hagerty. This car appreciated only 9.9% in value since 2019 and “may be overdue for a price increase,” according to Hagerty.
The GT-style two-door muscle car, AMC AMX from 1968-1970 has appreciated 28.8% since 2019, but insurance quotes from next-generation enthusiasts have nearly tripled its market share, from 13% to 38% during the same period, “suggesting these will continue to hold or increase in value,” Hagerty said. These models sell for anywhere between US$30,500 and US$40,600.
Other cars Hagerty was bullish on include:
- 2008–2015 Audi R8 (Manual);
- 2001–2004 Chevrolet Corvette Z06;
- 1936–1947 Harley-Davidson Knucklehead;
- 2001–2010 Lamborghini Murciélago;
- 2004–2010 Mercedes-Benz SLR McLaren;
- 2003–2008 Nissan 350Z;
- 1985–1993 Saab 900 Turbo;
- 1991–1998 Suzuki Cappuccino;
- 1984–1988 Toyota Pickup 4×4.
The list is not intended for investors, though, Webster says. “What we are trying to do is to illustrate that you can enjoy all the benefits of owning a car you love, while also making a good investment.”