HAGI’s classic car index grows in September

The HAGI Top index rose 19.4 points (5.8%) in September, taking growth in the classic car market to 2.2% for the year to date.

The result arrives after a rocky few months for the industry, after a bumper series of sales in 2016.

Aston Martin DBr1

This 1956 Aston Martin DBR1 achieved a record $22.5m in August

HAGI suggests the revival is down to the excellent results achieved in the August sales in Monterey, including records for Aston Martin and Porsche.  

It comments: “Collectors and investors are prepared to pay strong prices for the exceptional and outstanding.”

Ferrari achieved the strongest growth of all marques last month at 7.3%.

But when we look to the year to date, Ferrari is dramatically outperformed by Mercedes-Benz at 11.1%.

Ferrari, by contrast, is at just 3% for the year.

Mercedes is now the world’s leading luxury brand, with sales of $49bn this year, a factor that appears to have boosted demand for its classic models.

Can Mercedes continue its bull run through the rest of the year? Investors will be hoping so.

However, HAGI sounds a note of warning, stating: “We remain cautious on the market due to low transaction volumes.”

The upcoming series of sales in the new year, including a Ferrari 275p valued at $35.3m, will re-invigorate the market. Consignors may simply be holding out until then.  

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