Classic Car Values Slightly Lower in January 2017
HAGI's (Historic Automotive Group International) last index shows classic car values slightly lower in the first month of 2017. Their Top 50 benchmark index, which tracks the most prestigious classic cars, was down just 0.40%.
The HAGI maintains indices for classic cars in the high end market, and keeps track of values on Ferraris, Porsches and Mercedes.
Porsche fell 2.15%, Mercedes-Benz 1.47%, and all marques in the top index were down by 1.41%. Unsurprisingly, Ferrari continued to see growing values on its rare and collectible classic cars - the Ferrari index was up 1.57%.
However, both Dietrich Hatlapa and Hardy Sohanpal of the HAGI expressed concern with lower end Ferraris. They state, "Most Ferrari types with production numbers in the 100s or higher continue to experience price pressure and low turnover."
What ever the case may be, thousands of classic car buyers around the world remain confident that classic car values will grow in 2017.