Hagerty Price Guide

The accuracy of Hagerty Valuation Tools^® begins with the Hagerty Price Guide, which uses a thoughtful mix of sales data and automotive expertise.

Hagerty Price Guide has been published since 2006 and is compiled by more than a dozen people who monitor auction results, asking prices, and private sales activity for more than a million owners.

Cars come in a variety of conditions and values can vary greatly. As a buyer or seller, correctly classifying a vehicle’s condition is crucial. Many sellers overrate the condition, while overeager buyers tend to do the same for potential purchases.

Condition Definitions

Correctly classifying a vehicle's condition is essential when assessing value. Hagerty Price Guide publishes values according to four grades.

1. Concours

#1 vehicles are the best in the world. Imagine the best vehicle, in the right colors, driving onto the lawn at the finest concours. Perfectly clean, the vehicle has been groomed down to the tire treads. Painted and chromed surfaces are mirror-like. Dust and dirt are banned, and materials used are correct and superbly fitted.

2. Excellent

#2 vehicles could win a local or regional show. They might even be former #1 vehicles that have been driven or have aged. Seasoned observers will have to look closely for flaws but will be able to find some. The paint, chrome, glass and finishes will all appear as excellent. The vehicle drives as a new vehicle of its era would.

3. Good

#3 vehicles drive and run well but are not used for daily transportation. The casual passerby will not find any visual flaws, but these vehicles might have some incorrect parts. #3 vehicles could possess some, but not all, of the issues of a #4 vehicle, but they will be balanced by other factors such as fresh paint or a new, correct interior.

4. Fair

#4 vehicles are daily drivers, with flaws visible to the naked eye. The chrome might have pitting, the windshield might be chipped and perhaps the body has a minor dent. Imperfect paintwork, split seams or a cracked dash might be present. No major parts are missing, but there might be non-stock additions. A #4 vehicle can also be a deteriorated restoration.

In addition to a vehicle’s condition, other factors can influence a price. For example, number of owners, originality and documentation to support build claims or restoration work can all greatly affect a vehicle’s value.

Market Data Sources

People buy and sell collector cars in a number of different ways, which is why Hagerty takes great efforts to track data from a variety of sources. Our estimates, based on surveys we have conducted over the years, indicate that sales volumes look like this:

70%

Peer to Peer Sales

Sales between private parties are the main way enthusiast cars change hands. These sales are rarely reported publicly, but we monitor tens of thousands of these sales through our insurance data annually.

20%

Auctions

A relatively small percentage of enthusiast cars trade at in-person and online auctions but we closely watch these channels. We go beyond tracking sale prices by performing in-person inspections when possible to better understand the conditions and configurations of the cars being sold.

10%

Dealer Sales

Collector car dealers represent a small portion of annual sales, but those sales are usually very well informed. Dealers can describe in detail each car's specifications and history, and we've developed a broad network of reliable vehicle dealers who share their sales activity with us.

Market Expertise

Access to data is only part of the Hagerty Price Guide’s renowned accuracy. It’s our familiarity with the industry and close association to the market that translates raw data into meaningful insight.

In other words, the values Hagerty Price Guide publishes are not programmatically compiled. We don’t rely on an algorithm to interpret our data. Instead, each value is filtered through our experts’ collective experience. Why? Because the classic vehicle marketplace behaves differently than the new or used car market does. Classic vehicles are an emotional purchase. Buyers scrutinize their details. And there can be a tremendous variance between cars of the same year-make-model.

Therefore, we make sure that we understand a vehicle’s whole picture before interpreting a sale price as a comment on the market. Factors like low mileage, full documentation, overall condition, rarity, and significant modifications can all greatly affect a collector vehicle’s value. Our team works hard to account for all of this.

But it doesn’t stop there. We also overlay other market factors, like inventory, demand, current trends of similar vehicles, and the general direction of the car market. And we consider developing fads and changing tastes among buyers.

Through this effort, you can be assured that the prices we report are fully considered, exhaustively researched and – most importantly – accurate.

Drive smart

Lastly: Please use the information presented in Hagerty Valuation Tools^® to gain a deeper understanding of the market, but also, always apply your senses to what you learn and consult with experts in the field before making any buying or selling decisions.