Classic insurer’s latest market report identifies eight classics that are great to own and might even increase in value in 2024
THE BIG STORY
A group of market experts who track classic prices on both sides of the Atlantic have identified eight classics that it believes will increase in value over the next 12 months – bucking wider market trends.
CCW’s own research into market prices (22 November, 2023) revealed that prices fell in 2022 and 2023 due to increasing interest rates and a decline in the prices achieved at auctions but Hagerty has singled out eight markedly different classics to keep an eye over the course of the new auction season.
UK Hagerty Price Guide editor, John Mayhead, said: ‘This year’s selection of eight vehicles was fuelled by close inspection of public and private sale results, Hagerty insurance quotes and the patterns that we’ve seen emerge in the Hagerty Price Guide.
‘Working with our Hagerty analysts around the world to identify what we forecast will rise in value and is interesting and fun to own is really rewarding. This year’s UK Bull Market list is the most eclectic ever and I think thst it reflects the diversity of the classic and collector market here in the UK.’
Of the eight cars selected, most fall into the modern classics category, with the Honda S2000, TVR Cerbera and Daimler Six from the Nineties and the Ford Escort RS Turbo just breaking into the same decade. The Austin J40 pedal car is amore unusual inclusion but not as left-field as the Alvis Speed 20 and 25. Hagerty has also singled the Maserati Indy (1969-1975) out because they say that it ‘currently represents great value for a car of its style, driving qualities and heritage. In concept the Indy competes with heavy-hitters like the Ferrari Daytona but is more affordable than its Modenese rival’. The 2011 Porsche 997.2 GT3 RS 4.0 also makes the cut because ‘the model has many of the characteristics that Hagerty believes mark it out a collectable, from its last-of-the-line engine to its analogue driving feel’.
ClassicCarWeekly’s markets editor, Richard Barnett, said: ‘At last – a later Daimler gets a look-in. The Daimler Six, the plusher Jaguar for the last vestiges of the landed gentry, is a cracking yet overlooked Spirit alternative and I’ve banged on about them in my auction coverage whenever possible. It’s good to see the S2000 getting a name-check, too, and while not exactly left-field it has a cult-like status and rightly so.
‘I’m not quite convinced by the inclusion of the Maserati Indy because, great car as it is, it’s not really a model that the market seems to understand and I can’t see much value-rising anytime soon.
‘The Escort RS Turbo also intrigues me; again I
