The Hagerty Market Rating falls into the 50s, signaling a cooling collector car market amid broader economic uncertainty.
After years of steady growth, the collector car market has officially flattened, according to the latest Hagerty Market Rating report. For the first time since the fall of 2020—and only the second time in over 13 years—the rating has dropped into the 50s, reflecting a cooling trend across the industry.
The Hagerty Market Rating, which measures collector car market activity, momentum, and strength on a 0-100 scale, slipped by 0.54 points this month. This follows a dip to pre-pandemic levels last month, and now firmly places the market in flat territory. Notably, since 2012, the rating had consistently remained in the 60s and 70s, even as market values steadily rose.
The Hagerty Market Index, a stock-market-style measure tied to the Market Rating, also fell by 0.60 points. In the 28 months since its peak in late 2022, the Index has increased only twice, and now sits at its lowest point in over three years. Despite the decline, it remains historically elevated compared to its 18-year trajectory.
Several factors contributed to the downturn. Broader economic uncertainty has taken its toll, with Hagerty’s macro-economic indicator dropping 1.32 points this month—the sharpest single-month drop since the start of the pandemic in 2020. Meanwhile, despite strong seven-figure sales at Florida auctions, the median auction sale price fell to $27,300, the lowest inflation-adjusted figure in nearly five years.
Private market softness is also evident. Only 38.87% of vehicles are now selling above their insured value, and the pace of insured value increases is at its slowest in years. Even mainstream and high-value vehicles have not escaped the downward trend, though the Blue Chip Index of seven-figure cars saw a modest 0.10-point gain.
As the auction calendar slows and the driving season begins, Hagerty forecasts that the market may continue its slide. If the Market Rating stays below 60 next month, it will mark the first consecutive months in the 50s since mid-2011, signaling a potential longer-term adjustment ahead for collectors and investors alike.https://www.motorious.com/articles/all/hagerty-ceo-sees-classic-car-market-shifting-aims-to-expand-data-driven-strategy/
