How to value a classic car or motorcycle? Tricky. It used to be relatively easy; check auction prices by make and model, garde by car condition, get some photos from the owner. But things move faster now in the world of online auctions, private and trade sales, plus classics can often be affected by demographics within a niche market.
Example? The decline in BSA Gold Star values in real terms, as their ageing fan base finally hang up their leathers. When your only real market is museums and collectors who never ride the things, that affects demand.
The converse is true of bikes like Yamaha RD350LC or Aprilia RS 250 machines. Their fanbase is just coming up to that age 50-60 milestone and that fuels demand for mint, low miles examples. Or full restorations of those rare machines. Result? A price bubble and IE predicts it has some way to go, unless owning a two stroke become illegal due to climate zealots laws.
Here’s the word from Hagerty:
Hagerty launches a brand-new Commercial Valuations service in the UK, especially designed to provide businesses with bespoke Hagerty market data.
To obtain their renowned data, Hagerty evaluates over 2 million classic vehicle insurance valuations, along with eligible trade sales and the results of over 28,000 relevant global auction results. In addition, Hagerty representatives are present at all major auctions to report on the condition of the cars sold, so relevant details can be factored in when collating valuation data.
The result is market data recognised as the best in the global classic car industry, providing Hagerty with unrivalled knowledge of the enthusiast car sector. The continuously updated supply of data also generates unique Hagerty editorial content. This ensures Hagerty can provide the very latest market value of client-owned vehicles for insurance purposes.
PROFESSIONAL AND BUSINESS ACCESS
Until now access to Hagerty’s market data, and team of analysts, has only been available to the few. But now Hagerty offers trusted professional partners the chance to obtain subscription-based data. This can include bespoke written reports, complex car valuations, physical vehicle inspections and current and residual value forecasts. All useful stuff for financial lenders, specialist dealers, auction houses and even other insurance companies.
As Hagerty’s data sets are so complex it allows detailed segmentation. This includes specific model details, total recorded mileage as well as service history and any notable previous ownership details. In addition, bespoke commentary on a particular market sector is also available to subscribers.
Hagerty’s Commercial Valuations service can be adapted to suit individual client needs, offering a pre-agreed number of valuations each month, ranging from simple vehicle valuations to in-depth expert reports.
Hagerty International Managing Director Mark Roper said, “Hagerty’s market data has been known as the best in the business for over 10-years and is used to power established features such as our annual Bull Market list. It also provides owners with a realistic valuation via our famous Hagerty Valuation Tool.
Now we can offer professionals access to our data to help them better understand the enthusiast car market for their own needs, or those of their clients. If any businesses could benefit from a better understanding of the global market, Hagerty can now provide valuable insight which was previously unavailable.”
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