by Mike –
Recently I wrote about some of my questions about classic car prices and market trends.
In the October issue of Octane magazine Dave Kinney, the Publisher of The Hagerty Price Guide, mentions some of my favorite cars as “cars selling well above expected amounts”.
I think this means the actual prices are higher than the prices listed in his price guide. The cars he mentions are Iso, Bizzarrini and Italia and he says the Jensen Interceptor “has found a new lease on life”.
I believe that the actual prices for the Iso Grifo have moved upward so fast that the price guides have not been able to keep up.
Below are numbers from the Hagerty Price Guide. All price guide numbers mentioned in this article are for a condition 1 car (the best condition car).
This shows approximately a $100,000 increase in value for the Iso Grifo in a three month period. The prices did not really move that fast but the price guide is now catching up with reality. Actually these new numbers are a little light based on recent market data.
In the Sep-Dec 2012 issue of The Hagerty Price Guide (No. 19) which just arrived this week the price for the 1965 Iso Grifo S1 has been increased to $265,000 while the 1970 Iso Grifo S2, 7 Liter is unchanged.
The price range for cars discussed in this book is $18,000 to $130,000.
The Intermeccanica Italia was valued at $63,000 in the Fall/Winter 2006 issue (No. 1) of Cars That Matter Price Guide (now The Hagerty Price Guide) and the value today in the latest issue Sep-Dec 2012 (No. 19) is $90,000.
This is an impressive appreciation of 43% in six years. I suspect we would all be happy if our classic cars appreciated like this.
The 1974-76 Jensen Interceptor III convertible was valued at $38,300 in the 2006 issue and $72,000 in the latest issue of the Hagerty Price Guide. This is a terrific 88% appreciation in six years! At least according to this guide.
Yet, the Interceptor convertible shown here did not sell a few weeks ago at the Russo and Steele auction in Monterey for a high bid well above $72,000.
Maybe the price guide editors need to look at this again and this is an indication that Dave Kinney is right about the Jensen Interceptor when he says it “has found a new lease on life”.
I will write more on classic car prices later this week.
Let me know in the Comments what models do you think are under valued now?
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