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Apr 20

The Next Hot Collector Cars are going to be SUVs

As a shock to no one the Hagerty insurance thinks the next hot collectors market is the classic SUV. It’s quite obvious really with first tear collector cars basically all bought up and trading at insane prices collectors are moving on to others things. For example trucks have been particularly hot lately so it only makes sense that SUVs would soon follow suit.
International Scout
Vehicles like the International Scout, Ford Bronco, and others have been showing up hot and heavy on the show circuit lately. This follows nicely with the trend of SUVs becoming popular in the country in general as more and more people turn to the extra cargo room, and people capacity of big SUVs. Also there has been an increasing trend in film and TV of characters driving SUVs. Think Jack Shepphard of Lost. This trend really is just getting off the ground so there are plenty of prime examples out there still.

You can hit the jump for Hagerty’s take on the trend.



VINTAGE SUV’S QUICKLY BECOMING HOT COMMODITY AMONG COLLECTORS

Hagerty Observes Significant Shift in Allure of Vintage Sport Utility Vehicles

TRAVERSE CITY, Mich. (April 11, 2013) – Once considered out of place at prominent classic vehicle auctions, vintage SUVs are rapidly gaining in popularity among collectors. During a series of collector car auctions in Scottsdale earlier this year, 11 vintage Toyota Land Cruisers sold, with the best example – a 1981 Mustard Yellow FJ-40 – selling for $88,000.

The recent public sales are not an outlier according to Hagerty Insurance, host to the largest database of classic cars in the world – this has been a growing trend for the past five years. Hagerty reports the niche segment of vintage SUVs has grown 65% since 2008, nearly twice the percentage rate of the company’s overall book of business, which has risen 37% during the same period.

While vintage Toyota Land Cruisers (202%) appear to be the fastest rising choice among vintage SUVs, other models showing significant movement include 1970s and ’80s Jeeps (93%), Ford Broncos (86%) and International Scouts (85%) from the 1960s and ’70s.

“With so many young collectors opting for modern SUVs as their daily drivers, we’re seeing a shift in perception of what makes a vehicle cool,” says McKeel Hagerty, President and CEO of Hagerty, the world’s leading provider of classic car insurance. “Broncos, Land Rovers and other similar vehicles from the ’60s and ’70s were, for the most part, once seen as utilitarian. But vintage SUVs are becoming more and more collectible, and it appears that trend will continue. This is a great time to get into this segment of the collector car market.”

In addition to growth in Hagerty’s database, sales analysis of more than 15 major auction houses, recently conducted by the Hagerty Institute, offers further evidence of a budding trend of increased SUV sales and values. Over the last five years, the number of vintage SUV’s offered at auction is up 150 percent, and the value of these vehicles has risen 31 percent.

Based in Traverse City, Michigan, Hagerty is the world’s leading insurance provider for classic vehicles and host to the largest network of classic car owners. Hagerty offers insurance for classic cars, trucks, motorcycles and motorcycle safety equipment, tractors, automotive tools and spare parts, and even “automobilia” (any historic or collectible item linked with motor vehicles). Hagerty also offers overseas shipping/touring insurance coverage, commercial coverage and club liability coverage. For more information, call (800) 922-4050 or visit www.hagerty.com.

Hagerty also provides online Valuation Tools and publishes Hagerty Price Guide, which are the premier price and value guides for post-war collectible automobiles. For more information please visit www.hagerty.com/valuationtools.
News Source: Hagerty Insurance