Hagerty

[Keshav]

Hi all,
how is this to be interpreted, factual or with many spoons of salt?
Seem almost to good to be true!

“The Hagerty tools show that a concours RHD CSL is valued at £182,500 and a LHD CSL (non-Bat) is at $293,000 and a Bat at $390,000“

Needless to say, they've generalized the non Bats and the Bats too (carb Csl’s, lightweight non Bats, City pack non Bats/ 1st series Bat and 2nd series Bats, all of the various sub categories differentiate dramatically in rarity and prices. Whats clear are the RHD Csls’s as they were ‘all’ city pack versions.
And who is to judge what concours is?

thanks
Keshav

 

[Markos]

We have finally arrived!

 

[dave v. in nc]

I have Hagerty, I like Hagerty...but let us not forget that they sell insurance, and how that all works.

 

[sandhu]

Hagerty price valuations on the E9 models are all wrong ie under valued ....in my opinion

 

[Wes]

Hagerty price valuations on the E9 models are all wrong ie under valued ....in my opinion

Undervalued? I'm not opposed to that but view but how do you support it?

 

[sandhu]

Undervalued? I'm not opposed to that but view but how do you support it?

i know of Csl cars sold privately and by dealers between 180/200k ..

 

[Honolulu]

Hagerty (I'm a member) follows auctions closely and published the results plus commentary to those that subscribe. To me that stuff is rubbish, and I don't give a rat's how much this or that car sold for. Auction results are contests between two or more egos, not a measure of reality for "normal" peeps. I'm not enthusiastic about the threads here about "how much my (or other) car is worth!" I don't own a CS because it's appreciating.

I also find it somewhat improper that an insurance company should attempt to stress the high prices of cars. This encourages owners to over-insure, at the owner's cost, and Hagerty to reap the benefits. I don't like it at all, but since my homeowner's insurance refuses to cover my CS, kept in a closed garage, I have to do something.

 

[Marco 54]

I don’t think any one of us thinks that there is such a thing as an exact ‘value’ for any given car, as we all know how a market works. However there is a reasonable range of values within which a consensus can be achieved. Also the relative values of the different models listed by Hagerty might be generally proportionate.

We also know that the concept of ‘concours’ can be slippery; and we can argue about this, as with any other definition. Hagerty’s definitions are -

‘Condition 1 (concours) vehicles are the best in the world. The visual image is of the best car, unmodified, in the right colours, driving onto the lawn at the finest concours.’

If we assume that Hagerty’s definition is unchanged then it is clear that there has been a radical upward shift in their valuation of a RHD CSL. Hagerty listed the value of a concours RHD CSL at £131,000 in October 2019 and this valuation dropped to £126,000 earlier this year; I have no idea why (Coronavirus?).

Against that background the current valuation of a RHD CSL value is surprising. It perhaps reflects several cars recently advertised at prices up to £199,999. These cars are said to have been sold, although we are not certain that they achieved the asking price.

Finally to come back to earth cars of this standard are rare and Hagerty values lesser examples as follows -

Condition 2 (Excellent) cars could win a local or regional show. They can be former #1 cars that have been driven or have aged. Seasoned observers will have to look closely for flaws.- £131,100

We know of one recent car at auction that fell into this category despite the Auctioneers’ description of it as ‘the best CSL they had seen’.

Condition 3 (Good) cars could possess some, but not all of the issues of a #4 car, but they will be balanced by other factors such as a fresh paint job or a new, correct interior.- £94,700

Condition 4 (Fair) 4 cars are daily drivers, with flaws visible to the naked eye. The chrome might have pitting or scratches, the windshield might be chipped.- £55,900

One final point is that the exactness of these numbers suggests that some form of inflation factor is being applied to ‘base’ figures.


Marco 54