Classic cars to buy in 2023

Here are classics tipped to rise in value this year.

For once, The Good Oil has some actual good advice to share. Every year Hagerty releases its “Bull Market” picks of classic cars tipped to rise in value. So which are the ones to look out for in 2023 . . . and what’s a “Hagerty” anyway?

Hagerty is a global company with a stated purpose to “save driving and car culture for future generations . . . an automotive enthusiast brand offering integrated membership products and programmes as well as a specialty insurance provider focused on the global automotive enthusiast market.”

It creates Bull Market lists tailored to individual regions; the one referenced here is for the UK, but it has plenty of relevance to Kiwi car enthusiasts, given classic car tastes and trends are a global phenomenon. The company reviews value changes from the globally recognised Hagerty Price Guide, coupled with sales results and data, to find indicators that suggest a car is rising in value. We choose five to showcase here:

Audi TT quattro Sport (2005-2006)

While the TT has a reputation as a model more about show than go,

Hagerty says changes for the 1.8-litre Sport (more torque, enhanced gearbox, rear structure from TT 3.2) make it a better car for the enthusiast and much more desirable. Only 800 examples were built, so it’s rare too.

The TT quattro Sport is easily identifiable by its two-tone colour scheme, with dark roof.

Austin Seven (1923-1939)

Hagerty says the Seven is “small, simple, affordable to run and repair and jam-packed with character”. It also provides an inexpensive gateway into the vintage, pre-war car scene. Some of the increased interest is being driven by the car’s centenary.

Lotus Elise S2 (2000-2010)

The series one Lotus Elise is already an icon but Hagerty says the “clever money is on the S2, which is frequently less expensive to buy but in many ways a better car”. The 1.8-litre Toyota four-cylinder is a variable valve timing unit, with most of the power up-top, and reliable. While not as delicate as the S1, the later model is an easier one to drive fast.

Mercedes-benz SL500 R129 (1989-2001)

Hagerty defines the SL500 as “a car built to the pinnacle of Mercedes engineering know-how” for its times. There were inline six, V6, V8 and V12 engines offered, but many argue the V8-powered SL500 is the sweet spot.

Triumph Spitfire (1962-1980)

The idea for the Spitfire was born in 1960: Triumph needed a car that could compete with the Austinhealey Sprite and MG Midget, and positioned its offering just above the pairing. It was an instant hit.

Hagerty says all generations of Spitfire will “continue to please car enthusiasts for many decades yet”.