Hagerty Report: Classic Cars Reach Record Sales of $1.5B in 2015

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Classic cars built between 1980 through the early 2000s have seen the largest year-over-year increase in average sales price, according to Traverse City-based Hagerty, a provider of car insurance for classic vehicles.

McKeel Hagerty, CEO of Hagerty, says in 2015, there was a 21 percent hike in the average price, though 9 percent fewer cars were sold in 2015 as compared to 2014. Overall, he says North American classic car auction sales reached a record $1.5 billion this year, a more than 10 percent boost from 2014.

The top five price increases from 1980 to the early 2000s classic car segment are 1974 to 1977 Porsche 911s; 2004 to 2009 Aston Martin DB9s; 1984 to 1996 Ferrari Testarossas; 1975 to 1985 Ferrari 308 GTS’; and 1990 to 2001 Lamborghini Diablos.

Hagerty says overall growth for the broader market experienced more modest gains.

“The market is still growing, but at a slower rate than we have witnessed in the past three years,” Hagerty says. “The notable exception is rapid growth among younger buyers who have entered the market and are exercising their buying power by spending on the poster cars of their youth.”

The company compiled the data via public auctions and private transactions in 2015, though the methodology was not made public.

The top 10 North American auction sales are:

1. 1956 Ferrari 290 MM Spider for $28 million

2. 1964 Ferrari 250 LM for $17.6 million

3. 1961 Ferrari 250 GT California SWB Spider for $16.8 million

4. 1962 Ferrari 250 GT SWB Speciale for $16.8 million

5. 1962 Aston Martin DB4 GT Zagato Coupe for $14.3 million

6. 1998 McLaren F1 LM for $13.8 million

7. 1956 Ferrari 250 GT TdF for $13.2 million

8. 1982 Porsche 956 for $10.1 million

9. 1965 Ferrari 250 LM for $9.6 million

10. 1966 Ferrari 275 GTB Competizione for $9.4 million

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