Ten Cars That Could Appreciate This Year – Is Yours On The List?
THE top cars set to rise in value this year have been revealed – is yours on the list?
Investing in a classic car can be more profitable in the long run than collecting artwork or jewelry.
Expert in historic cars Hagerty announced their annual UK Bull Market List late last year.
And ten vintage and youngtimers will increase in price this year.
They spent months identifying cars from all eras that offer a great ownership experience and used their industry data to determine which models could appreciate in value.
Commented John Mayhead, editor of the Uk Hagerty Price Guide The daily express: “Each year, our appraisal team analyzes thousands of transactions from our two million insured vehicles, auction results and dealer sales to see what’s moving.
“The bull market list identifies the cars that could appreciate in value. So if you want one, now might be the right time to start looking.
“Once again this year we have a really interesting mix of cars for all budgets and areas of the hobby, from classic cars to modern classic super sports cars.
“We also included some very different British roadsters.
“As always, working through the data to create this list was a highlight of the year.”
These are the cars that are increasing in value this year.
Citroën BX, 1982 – 1994
The BX is being hailed as a vehicle that meets many criteria in 2023, including affordable prices, contemporary vehicle usability, iconic 1980s styling, and a truly endearing and reassuring drive.
Hagerty claims this car is incredibly easy to drive, much like a modern car.
In 2022, the average price rose by £25 to £2,150, but it is expected to rise further due to inflation.
Saab 99 Turbo, 1978 – 1980
According to the Hagerty price guidethe Saab is available for £4,100 on fair terms or up to £21,700 in the ‘Concours’.
The company has estimated that the price could reach £30,000 within a few years.
The Saab 99 Turbo with 145 hp is said to reach a top speed of 195 km/h.
Triumph Spitfire, 1962 – 1980
The Triumph Spitfire was launched in 1962 and was intended to compete with the Austin-Healey Sprite, but another rival appeared that same year – the MGB.
It can be found for as little as £2,800.
Hagerty said of this car: “It’s a car that you enjoy driving, gaining the radiant sense of satisfaction that comes from doing DIY tasks, and meanwhile your money is tied up in a stable investment.
“Long-term values have stagnated, but there are signs that good Spitfires are taking off.”
Lotus Elise (S2), 2000 – 2010
A newer classic on the list, the Lotus Elise is a mid-engine, rear-wheel drive, two-seater roadster conceived in early 1994 and released in September 1996.
Hagerty said the “smart money” is aimed at the Series 2 model, which is often cheaper to buy but is a better car in many ways.
A Lotus Elise S2 can be purchased in the UK for under £20,000.
And it’s up 34% over the past two years.
Bentley Turbo R, 1985 – 1997
The Bentley Turbo R is a high-performance automobile that was produced from 1985 to 1999.
The Turbo R is currently slightly below its 2020 peak of £16,800, which seemed to benefit from the post-lockdown “revenge buying” boom.
In 2022, the Bentley Turbo R cost around 15,400 euros.
Audi Quattro Sport
The Audi Sport Quattro was a small series supercar produced as a ‘homologation special’ to allow Audi to use the car in its factory-backed assault on the FIA World Rally Championship.
The wheels were unique, 18-inch 15 spokes wrapped in 235/40 tires and there was a two-tone color scheme.
They say: “We’ve only been following the Quattro Sport since the beginning of the year but in that time averages have gone from £9950 to £10,075.”
Austin Seven, 1923-1939
The Austin Seven is a compact car produced in the United Kingdom from 1923 to 1939.
Any Austin Seven should be able to run 40-45 mph all day if in good spirits and condition.
This car could cost between £8,700 and £21,100.
In 2021 the Austin Seven cost £10,125, but in 2022 that figure rose to £14,125.
Ford Fiesta (Mk1), 1977-1983
The Ford Fiesta Mk1 is the first generation of the Ford Fiesta supermini and was introduced in 1976.
Hagerty said: “The Fiesta is a highly recognizable classic and performance models like the Supersport and XR2 are already priced higher.
“Even for more modest cars like our 1.1 Popular Plus, prices are rising – a pre-Covid average of £3,625 is up to £4,325, not much in monetary terms but still a 19% increase.”
Lamborghini Diablo, 1990-2001
The Lamborghini Diablo is a high-performance mid-engined sports car built by the Italian automobile manufacturer Lamborghini between 1990 and 2001.
Hagerty said: “Diablo Hagerty Price Guide values have remained unchanged across the range for some time and currently range from an average of £137,500 for a standard car to £179,250 for an SV.
“45% of owners are from Generation X (compared to 31% for all cars), a group that now has the highest earning capacity, and median quoted values in 2022 are from £214,000 last year to around now £260,000 up.”
Mercedes Benz SL500 (R129) 1989-2001
The Mercedes-Benz R129 SL is a roadster produced by Mercedes-Benz from 1989 to 2001.
Hagerty says: “There are many SLs to choose from and this is perhaps reflected in the number of ‘no sales’ at auction.
“However, the prices for the bought cars have risen; the post-lockdown average of £14,550 has now risen to £17,475, a 20% increase.”
Hagerty believes that another 20% average increase over the next two years wouldn’t be unexpected.
https://www.thesun.ie/motors/10180132/ten-cars-rise-value-this-year/ Ten Cars That Could Appreciate This Year – Is Yours On The List?