HAGI classic car index gains 2.4% to reach new high

Following a spate of strong sales in July and August, the classic car market has reached an all-time high, says Historic Automobile Group International (HAGI).

Ferrari 250 GTO Berlinetta
Ferrari has shown the biggest loss of the year, despite a new world record

The company, which tracks the sales performance of collector cars, saw its Top Index gain 2.4% during August, setting a new precedent for the market.

The Top 'ex' Index, which excludes Ferrari and Porsche, saw the greatest leap in value at 8.0%, while the HAGI MBC-Index - tracking historic Mercedes-Benz models - made a 7.6% gain.

However, the new high comes amid changes to the market, with Ferrari - previously the out and out favourite among collectors - showing the weakest growth of the year at 6.7%, falling 3.6% in August alone.

This comes despite a Ferrari 250 GTO Berlinetta setting a new auction world record for any car, at Bonhams' Quail Lodge sale during the month, while the remainder of the Pebble Beach auctions were dominated by the marque.

It is Porsche that has seen the biggest gain of any manufacturer, with consistently strong sales pushing the HAGI P Index to a 3.4% rise in August, bringing the figure for the year to date to 19.8%.

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