Hagerty-”an insurance provider for classic vehicles and host to the largest network of classic car owners-”has announced its first-ever collector vehicle rating system.
Known as the Hagerty Vehicle Rating, the system is designed to measure a specific vehicle’s performance relative to the rest of the overall market, according to the company.
The latest addition to the suite of Hagerty Valuation Tools designed to empower people who love cars with market knowledge, the rating’s assigned score (on a scale of 0-100) indicates if a particular model is outperforming, underperforming, or consistent with the overall classic car market.
“Knowledge is power when it comes to researching your dream vehicle. No one wants to be made a fool when they decide to make a purchase,” said McKeel Hagerty, CEO of Hagerty. “We built this resource so enthusiasts can track specific vehicles based on pure market data from the largest database of collector vehicle transactions.”
The system is entirely data-driven from public and proprietary sources and serves as a quick indication of a vehicle’s heat (or lack thereof) compared to the market at large, he explained.
A rating of 50 indicates a model is keeping pace with the rest of the market. Ratings above 50 are assigned to vehicles growing faster than the market at large, with higher numbers corresponding to vehicles with stronger market performance. Conversely, ratings below 50 are assigned to vehicles growing more slowly than the market at large.
The Hagerty Vehicle Rating is calculated from a variety of sources including change in average values in the Hagerty Price Guide, private sales, auction sales, insured vehicle data and vehicle quoting data, according to the company. The ratings will be updated bi-monthly, with a published list of the top 25 as well as the bottom 25 cars in the market.
For July’s ratings, the top car with a score of 98 are 1994-’99 Ferrari F355s, and on the other end of the scale relative to the overall market are 1957-’67 Austin-Healey 3000s, with a score of 7.
To see the rest of the ratings and learn more about the Hagerty Vehicle Rating, visit https://www.hagerty.com/ValuationTools/Hagerty-Vehicle-Rating.