Haggerty article about waning collector car values.

[moparedtn]

Nope, I’ve been with Haggerty for 15 years. Last two cars I sold they asked about the sale. They were beginning to track sales of their customers to build a data base. They also do some random sampling of dealer sales. Of course the data is only good depending on the actual info given. I would imagine people would be leery of giving info on a private sale.

You just at least partially verified what Hagerty states on their own website, of which I've already
provided the link to above. In fact, you've backtracked from your original assertion of their only using
auction results for their values.
This, of course, is false and I stated such and provided a link to their actual statement.
I've been a Hagerty customer for well over a decade myself. I'm aware of how they come up with their
numbers and how they conduct their business.

For further, credible information on what Hagerty uses to come up with their values, I again lead folks
to the link I've provided above.

 

[dart4forte]

You just at least partially verified what Hagerty states on their own website, of which I've already
provided the link to above. In fact, you've backtracked from your original assertion of their only using
auction results for their values.
This, of course, is false and I stated such and provided a link to their actual statement.
I've been a Hagerty customer for well over a decade myself. I'm aware of how they come up with their
numbers and how they conduct their business.

For further, credible information on what Hagerty uses to come up with their values, I again lead folks
to the link I've provided above.

.

Well throw you a fish.

 

[70chall440]

I just read their website and it seems that they do in fact use collected data as a part of their valuation along with their "market expertise" which is where I think their BS comes in at. Personally I have never used them and never will, I got 2 quotes several years a part for insurance on my 70 Challenger RT and my 01 Viper (separately and as a package) and they were far more expensive than some others.

 

[patrick66]

Nope, I’ve been with Haggerty for 15 years. Last two cars I sold they asked about the sale. They were beginning to track sales of their customers to build a data base. They also do some random sampling of dealer sales. Of course the data is only good depending on the actual info given. I would imagine people would be leery of giving info on a private sale.

When I sold both my '54 Hudson and '68 Dodge D100 this year and had those removed from the policy, Hagarty asked about what I got for them. Sure, no sweat, I told them the condition and price, figuring they were indeed tracking sales prices by private party...which are much more realistic than the same car ran through (pick your favorite drunken car orgy auction service here!). At the same time, I realized I had my Coronet and Imperial under-valued in today's market, so I kicked that up a bit. No issues with Hagarty at all. I've been with them since 1997.

 

[440 PHIXX]

When I sold both my '54 Hudson and '68 Dodge D100 this year and had those removed from the policy, Hagarty asked about what I got for them. Sure, no sweat, I told them the condition and price, figuring they were indeed tracking sales prices by private party...which are much more realistic than the same car ran through (pick your favorite drunken car orgy auction service here!). At the same time, I realized I had my Coronet and Imperial under-valued in today's market, so I kicked that up a bit. No issues with Hagarty at all. I've been with them since 1997.

I have a question. Do they still insist you have another car that is 10 years old or less, that is also insured?

I’ve been driving’68 Plymouths since 2001. My wagon until ‘14, and my 383 4 door since.

 

[Nevada dan]

I've found insurance companies will insure the value you put on them, they just up the premium to make up for it, just remember they will pay repair costs they aren't looking to buy your car, my drive trains are worth more then the rest of the car they hardly ever have to deal with that , / back to the subject , the big money is going towards cars with LS's and hellcats leaving our carbureted classics to get more affordable

 

[patrick66]

I have a question. Do they still insist you have another car that is 10 years old or less, that is also insured?
View attachment 1170167

Sure. And that is quite a reasonable request. Classic insurance is not designed for daily driving duty.

 

[Cojohnso1]

If one side screws with the debt ceiling again? All this is academic. Look what happened to the overall markets today just entertaining the idea of the US defaulting on our debt obligations.

Make no mistake. A crash on the credit markets will make any of these discussions meaningless. Values will pummel. If you sell now? And high five yourself on getting good dollar on your classic investment? Where are you going to put your $$? Banks will freeze.

The debt ceiling is what we have already spent and owe. Not on future budget considerations. Those who believe we need to curb spending (And may have VERY valid points.) The debt ceiling is not where make that stance. Budget and taxation is where that fight belongs.

I know this is off topic to this thread. But if we play the debt default hand out? This thread's topic is irrelevant.

 

[patrick66]

Our current Admin is intentionally driving us to ruin with nonsensical $3.5T budgets and all the rest of their antics. Enjoy what you have now.

 

[Cojohnso1]

Our current Admin is intentionally driving us to ruin with nonsensical $3.5T budgets and all the rest of their antics. Enjoy what you have now.

Then make the fight against that $3.5T budget proposal. Not what was already spent under the Bush/Obama and Trump administration's.

 

[patrick66]

Then make the fight against that $3.5T budget proposal. Not what was already spent under the Bush/Obama and Trump administration's.

I sent more (apparently) useless emails to my alleged "representative" than you can shake a stick at. No one in that big, big DC circus tent listens.

 

[Cojohnso1]

I sent more (apparently) useless emails to my alleged "representative" than you can shake a stick at. No one in that big, big DC circus tent listens.

Unfortunately this is not the time to quit. It's a time to double down. I'm sending two a week to my elected officials.

 

[440 PHIXX]

Sure. And that is quite a reasonable request. Classic insurance is not designed for daily driving duty.

I have regular insurance on the ‘68 4 door. That’s my daily. So basically they won’t insure a person who’s regular daily car is over 10 years old. That’s quite a few at the shop I work at. Most drive a 15 year old pickup.

 

[Cojohnso1]

I'm paying $350 a year with Haggerty for a $25k. I have not heard or seen any objection. Car is probably around the $35k value depending on what part of the country. I only insure to recover my costs. I wonder. Are folks over estimating their value? And would it be financially beneficial for Haggerty (in collusion with the other insurance companies.) To lower values? Publishing this type of article can help start a downward trend? (As you can tell, I'm not a fan of the insurance industry.)

 

[patrick66]

I have regular insurance on the ‘68 4 door. That’s my daily. So basically they won’t insure a person who’s regular daily car is over 10 years old. That’s quite a few at the shop I work at. Most drive a 15 year old pickup.

I drove a 15-yo crew cab truck for some time, then a 1986 Ford Country Squire I had liability-only on, and Hagarty didn't seem to care. Might be dependent on where you live, too.

 

[440 PHIXX]

I drove a 15-yo crew cab truck for some time, then a 1986 Ford Country Squire I had liability-only on, and Hagarty didn't seem to care. Might be dependent on where you live, too.

. Could be. BTW... didn’t mean to put you on the spot asking, just wondering if you dealt with that issue. A guy I work with just sold a 2006 PU for 16.5k. And that’s 5 years too old.

 

[barbee6043]

Price a '32 Ford hotrod, they still ain't cheap!

Let 'em get cheap again, I give a chit!

 

[1STMP]

Let's address the elephant in the room: baby boomers.

That's not to say focuses in collecting won't inevitably shift. Younger collectors dig muscle cars, but they also love 1980s German sedans and 1990s Japanese coupes. What happens when the people for whom muscle cars represent the red-hot center of their passion gradually age out of the market? Prewar cars may hold some of the answers we seek. If conventional wisdom held true, that later generations won't be interested in the cars of their fathers, then the prewar market must be rock bottom, right?


The above is a reoccurring theme.
But discounting the Saudi, an anonymous billionaire and the Hollywood buyer of "high end" cars, I see one thing that is never talked about in these articles.
There is a basic difference between your grandfather's Model A, a 32 Ford Coupe and a 1969 car.
The 1970 car is basically a "modern car" without all the bells and whistles.
ABS brakes, airbags, cruise control, electric windows, computers, doors that lock when you don't tell them too and the all important cup holders.
As long as gas is available, one can drive a 1972 car every day on the freeway.
Only two things will kill a Dodge Dart.
Rust and wreck.
So, I think there will always be a market for the Everyman car.
That "289 Mustang" even.
Of course, some people ARE looking for museum pieces.

I don't think you can classify my build as an 'every
mans' car. I've had four serious offers to sell,.
Too many run out of funds or simply
lose interest, and it becomes someone else's
barnfind.
I don't think prices for collectable cars is waning.
Current world events are having a great effect
on how much someone is willing to spend on
their hobbies.
I saw a '68 Hemi Charger RT for sale today.
For the sum of a paltry $170,000 in could be
yours. Gorgeous car. Bet it's not long before
it's being shipped to it's new home.

 

[barbee6043]

Prices paid for old collector cars rise and fall like the weather. Look at the big sales, BJ and others.
Mopars are down, Mopars are up, an back down..over and over. OTer day at BJ on TV I saw first gen Z28s bringing silly $. And so was oldToyoto 4 x 4 whatevers. Is what it is.
They are my toys, I enjoy the work, and when I thin the herd they sell at home for what they will bring or I just say screw it... let it sit till I have to sell or someone pays what I consider a fair price to me and him.

 

[Fury 440]

I've been in the hobby for just about 45 years, actually before it was considered a "hobby". I really have had more Mopars then I can remember and I've always looked at things the same way. I've never lost money on a car. That said, I also have never made big money on a car ether. As long as I covered what I had into it I never cared much about "making a score". The market over the years has changed so much. One car I do remember is my 1971 Duster. It was a 340 3 speed STANDARD finished in triple black (black body, interior and stripe). It also had a blacked out 340 callout hood and a Go-wing. This car had EVERY option including a dealer installed tach on the hood. The car showed almost new with about 22,000 miles. I paid the original owner $2300.00 in the mid 80's, which was the going rate on good A bodies in my area at the time. He was happy as he only paid a little more than that new. After enjoying the car for about 10 years, I sold in the mid 90's for just over $9,000, again about the going rate at the time. I think I had put about $500.00 in it. I was happy as was the new owner. Last year I saw basically the same car, triple black, 340 hood, NO go wing and LESS options sell at an auction for over $60,000. Was I upset? Of course not. Do I wish I had kept it? Not really. I used the money at the time to buy a 70 Super Bee like the one I had in high school, my first car. As they say, it is what it is. If I had kept every A, B, and E body that I ever owned I'd need a parking lot somewhere. So for me, it's never been about the money, it's always been about the cars.