Hagerty Inc., the Traverse City-based automotive lifestyle brand and a leading specialty insurance provider for automotive enthusiasts, today announced a new digital classifieds platform where Hagerty Drivers Club (HDC) members can buy and sell collectible and exotic cars, trucks, and motorcycles.
The platform is Hagerty’s first foray into the private party transaction segment of the collectible car market, estimated to total about 43 million insurable vehicles nationwide. In 2021, Hagerty’s insurance members bought or sold approximately 280,000 collector cars, representing $9.5 billion in value.
“Hagerty classifieds is about giving our members a safe, secure, and easy way to buy and sell vehicles,” says McKeel Hagerty, CEO of Hagerty. “It’s also about doubling down on our commitment as a company to save driving and car culture for future generations, in this case by tapping into an industry growth market.”
HDC members can list vehicles for sale without any fees on the classifieds platform, which features a built-in messaging and offer system, no buyer’s fees and wide reach through Hagerty’s ecosystem of millions of collectors and enthusiasts. Hagerty has more than 727,000 paying members in HDC, the ultimate community for car lovers featuring expert support, VIP experiences and original award-winning automotive media content.
“In just six weeks, the site has attracted nearly 1,000 vehicle listings including cars from 1915 to 2016 with prices ranging from $1,000 to $600,000 and we’re seeing more early sales than expected,” says Kenneth Ahn, president of Marketplace. “In a market where private sale transactions outpace auction transactions by approximately a 10-to-1 ratio or more by both value and volume, our classifieds platform is about connecting enthusiasts with their next dream car, at scale.”
Hagerty Marketplace also includes Hagerty Valuation Tools, which features more than 15 years of pricing for 40,000 enthusiast cars, trucks, vans, and motorcycles from the post-war era to present, and the enthusiast car-sharing platform DriveShare. Updates to the Marketplace classifieds platform and new product launches are expected later this year.