How the Pandemic & 2021 impacted Collector Car Values

Old friend of the show as well as Founder & Publisher of the @Hagerty Price Guide, Dave Kinney joins MotoMan in the hangar to discuss the impact of the Pandemic & 2021 in general on the collector car market. Dave, as usual, provides specific examples that point to trends redefining the classic car . . .


#ClassicCar #ClassicCars #CollectorCar #CollectorCars #Hagerty #MMTVMembersOnly


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MotoMan. Storyteller of Transport, Travel & Inspired People

[rgr]

True very true on us not being able to fix things anymore, I love the e39 bmw because you can literally work on the thing yourself and find parts for it fairly easy.

[leeraymer]

Really fascinating subject on collector car valuations. I think you both hit the nail on the head with the fact that after the pandemic the last 2 years, people aren’t going to put off collector car purchases anymore. I know these are emotional purchase decisions that should only be made if you’re in a financial position to truly afford it, but if you are, you’re most likely willing to accept that the prices on these cars is going up and if you want one, you’re going to have to ante up. Can’t wait for part 2.

[FrenchTexan]

In addition to being bored, working from home and increases in asset prices (homes and stocks) feel like they've contributed. Much easier to rationalize a manual sports car if you don't have to commute in traffic every day :)

[DaveTony]

"It's because we can't fix things anymore..." - Man, I felt that..

[Cchichester]

5:51 “ I would know nothing about that” lol

[steveo]

Yay, biggest increases ever. It’s been fun watching from the sidelines while I prioritize paying off my flight school loans. Looks like a good time to take up photography as a hobby instead of cars😁

[Pietervdv]

A year ago I bought a rare LHD Rover P5B Coupé project that is nearing the end of a bare metal, nut and bolt restoration and I've modified the ignition, which is now electronic and the cooling, with a dual core radiator and an electric fan, as these cars are notorious for overheating. Also equipped it with Vintage Air airconditioning and Retrosound stereo equipment. I think it'll end up being the one people are searching for, with all the work done, but I wouldn't advise to hold their breath forme selling it. I do intend to use it a lot. It's my first classic by the way. I was pleasantly surprised to see values rise for excellent ones to around $ 50000.

[Affalterbach]

My plan to deduct depreciation is being ruined by appreciation. And replacement cost of everyday enthusiast cars appears to have doubled in past 2 years rather than continued to depreciate, like m3 of the e46 and E90 vintages.

[comaca]

My son going into Grade 12 decided he wants to be an automotive technician. As in a mechanic. When this was revealed to me, the first reaction was to tell him to quit his dish washing job and seek a job that is more germane to his chosen career path. So he is doing oil changes and tire swaps (summer to winter lately), and I expect he will change oil, filters and so forth. I understand today's cars and customers, and shall encourage him 100%. There is no real value to a car unless you have a reliable mechanic or advisor for a car. He's just starting to get it and I'm having fun with him and his thoughts. Most fun is when a kid born on 2004 can now tell and show me how to do things. Plus teaching him to drive in high pandemic and he had no license on public roads. Precious experiences and so many opportunities to buy classic cars at the time but was and am always concentrated on my family. Nothing can replace that. And of course, never let a good crisis go to waste. Great interview and looking forward to the next one!

[garyclark]

I would fit into the point and shoot type of person because I just never tinkard. However I’m also the buy and hold so when my cars leave they are going typically in one direction and so I look forward to getting in the next vehicle that has more advancements. Every time I see an older car that’s 20 or 30 years old I just think what horrific wheels what horrific interior why would I want to do that and have the nagging maintenance that a accompanies some of the brands so it’s certainly an interesting group. If I had money to just sit in the garage and have do nothing except gaining slightly and enjoying the weekend; it probably would be a point and shoot category 2.

[macstone]

The crazy hype has not fully arrived in Germany yet. But it is obvious you have to pay premium now for popular cars which are not even 20 years old. Everything BMW M is very expensive, everything Porsche - let's not even go there - and powerful interesting RWD/NA cars in general are only rising in value. Mercedes themselves restores and sells old S-Class from the eighties. In this market I would only buy a nice used car without any projected loss of value or even a nice profit every year. I do so, it works. Great interview, guys!

[avery]

I agree to that final point that we can't fix anything anymore. Quotes for labor are so expensive these days that you might as well only buy the best parts and buy them in a bulk type of installation manor. It's been a pain in my ass refinishing my 330Ci. I would say I purchased it as a 3 level car. I got it from the original owner a little north of Richmond, VA with not a ton of milleage, not any rust, and left stock with service receipts. How it's been a pain in the ass, from small to big like the bearings. I bought ones that came with housing even though you could press them out because at their rates it's not worth it and it could crack housing. I HAD to do the clutch and suspension due to wear but at that point it was a decent chunk for labor so I kept the car in the garage and drove it a bit until I could do a full mechanical revision that would M-ify the car; street car, track capable. I can't believe what e46 M3s are going for either. It's like a $10, $15k higher buy in and you're going to need to do all the same revisions, if not more, than what I went through. At least it's nothing compared to new Mercedes. If you guys are interested in seeing the process, Obsessed Garage is currently going through an e46 M3. Never mind, a couple weeks ago he got rid of the car.

[shemshonbenjaminesrael]

In all honesty the 3rd tier would be the best choice, just think about it, it’s not old to where it’s not drivable, if I said that properly… like say 1980-2011 vehicles are easy to work on, parts are available, easy to modify/tune, you can pretty much daily drive them, get decent gas mileage, most parts on those year vehicles are not effected by planned obsolescence, it’s so much more, it’s just make sense why that class is finally stat to rise, I love older school vehicles, but you just can’t go too far without having issues and burning so much fuel.

[matthewlange]

Interesting the comment that Daytonas are going up in value, as an owner of one who keeps half an eye on the market for them (for interest not that I'm planning to sell), I thought they were largely static to slightly declining in value in the last couple of years. I guess non public (auctions / BaT) sales might tell a different story? I suspect this may partly be there are very few condition 1/2 cars on the open market?

[RAZGRZ]

I think the "green scare" has also driven valuations of certain cars. I'm expecting a deflation within the next year or so.

[jorgbrouwers]

What about the “great green change”? For me it feels like people are trying to grab what they can in the collection of cars. Many manufacturers have signed an agreement not to produce new combustion engine powers cars anymore in just a few years. I think this sparked this event in Europe at least.

[artureff]

with inflation probably all alternative investments are more popular, and collector cars prices will rise much more the more common/generic EVs hit the roads

[mohammadsattar]

Doesn't it seem super stupid to have two people sat so close together having a conversation whilst wearing those headsets ??

[pantera]

Avg guy now can only afford an avg car?