FORD, PEUGEOT PRICES RISE AS FERRARIS FALL
Values of humble marques on the up while high-end cars suffer, says latest research
New market research shows a sharp fall in the prices of exclusive classics but confirms that many workaday cars are soaring in value.
The latest price guide from Hagerty reports that exotics such as Ferraris and top-end 911s have lost value for the first time in six years.
The biggest winner is the Peugeot 205GTI which registered a 36.5% uplift since December 15. The Porsche 944 Turbo is up by 26.5% – a trend that all front-engined Porsches are following.
One classic segment identified as under-valued is the Italian nonFerrari market. John Mayhead, head of Hagerty’s price guide explains: ‘Lancias still seem very cheap – the Fulvia Sport Zagato 1.6 rose all of 1.5% this quarter. There are some very pretty models bodied by Pininfarina, Zagato and Vignale that seem to be good value.’
New research shows that prices of workaday classics are rising while some high-end exotics are suffering a sharp drop in value.
Price guide authority Hagerty has reported in its latest price guide that Ferraris, Mercedes-Benz and Porsches often bought as investments have all lost value for the first time in six years.
By contrast, plenty of the more accessible classics are soaring. The biggest winner is the Peugeot 205GTI which registered a 36.5% uplift since December 15. The Porsche 944 Turbo is also up, by a whopping 26.5% – a trend that other front-engined Porsches are following. The rise of fast Fords has been well documented in recent issues.
CCW’s auction analyst Richard Hudson-Evans agrees with the findings of Hagerty, but urges owners to think logically. He says: ‘Some lower-end cars are certainly on the up – but condition is key. Ones selling for big money are in spectacular condition. Lower end cars in average condition have decreased signicantly in the past nine months by about 20% according to my own calculations. The market is all about perception of quality, and history.’ One segment that seems like a wise investment is the non-Ferrari Italian market. John Mayhead, head of Hagerty’s price guide, says: ‘Lancias still seem very cheap – the Fulvia Sport Zagato 1.6 rose all of 1.5% this quarter. Maybe there is a problem with the Lancia reputation that goes all the way back to the Beta recall - but there are some very pretty models bodied by Pininfarina, Zagato and Vignale that seem to be good value.’
The fall of exotics such as Ferrari – in contrast to the past five to 10 years when they have been among the biggest
risers – could be due to a ‘bring out your dead’ phenomenon. Some cars that have risen in price dramatically, like Ferrari Testarossas and 1980s Porsche 911s, are now flooding the market and consequently lowering prices. For example, in Hagerty’s latest index the Ferrari Testarossa has dropped 7.7% from December 2015 and the DeLorean DMC 12 dropped 1.3%.
One auction insider criticised the analysis: ‘The problem with these evaluations is that they can be skewed by auctions and truly high-end cars rarely find themselves at auction.’
Peugeot 205GTI +36.5% Porsche 944 Turbo +26.5% Range Rover 2-door +13.7% Porsche 930 911 Turbo Targa -14% Ferrari Testarossa -7.7% DeLorean DMC 12 I -1.3%
Peugeot 205GTI is the darling of the auction scene: prices are up by 36.5% from last year.