Hagerty’s 2023 Bull Market List Predicts Which Classics Will Spike in Value

Hagerty’s list uses data from car sales, insurance registrations, and historical trends to predict which cars are primed to take off in value.

  • 294
Hagerty’s 2023 Bull Market List Predicts Which Classics Will Spike in Value © Hagerty’s 2023 Bull Market List Predicts Which Classics Will Spike in Value

Hagerty has published its 2023 Bull Market List of classic cars most likely to appreciate in value next year.

The Bull Market List covers enthusiast vehicles considered prime candidates to spike in value in the short-to-medium term. Hagerty's list is intended to help guide enthusiasts to buy vehicles that will be fun to drive as well as a good investment going forward. The list is compiled from Hagerty's valuation data and the insights of its expert team. Much of the list is predicated on models which are attracting buyers in younger generations, which indicates potential for a future spike in demand, and thus prices.


In the rugged off-road world, Hagerty considers the AM General Hummer H1 to be overdue for a price hike in the used market. The bare-bones off-roader shares its underpinnings with the M998 Humvee vehicle. Modified for the civilian market, it was sold from 1992 to 2006. Hagerty estimates examples in excellent condition could sell for $105,000 to $127,300. Similarly, the Toyota Pickup built from 1984 to 1988 is expected to be a future classic, with prices around $20,700 to $26,700. Given the seemingly-unkillable reputation of these vehicles, and with younger enthusiasts flocking to find them, it's easy to see that these could attract big prices down the road.

More obscure is the 1991-1998 Suzuki Cappucino. Billed as a pint-sized Miata, the JDM kei car has just 63 horsepower, but makes up for it with a kerb weight of just 1,598 lbs. Examples in excellent condition are expected to attract prices of $12,200 to $16,700, making this one of the most accessible vehicles on the 2023 list.


Stepping up in price, the 1985-1993 Saab 900 Turbo is currently a hit with owners under the age of 40 according to Hagerty's data. Old cars that look weird have a tendency to become cool as the decades run on, and Saab's finest effort in this area may follow that trend. Excellent examples should sell for $22,200-$25,800, with Hagerty forecasting faster appreciation in future. We've seen hints of this already, with one 1987 example selling for a stratospheric $145,000 on Bring a Trailer in August.

If you're looking to get into a performance coupe, though, consider the 2003-2005 Nissan 350Z. Prices are already on the upswing, having increased a full 78% since the beginning of 2021. Hagerty's price range is $37,500 to $44,900 for pristine examples. You'll want to cross-shop with the 2001-2004 Chevy Corvette Z06, though. It brings V8 power, solid handling, and arguably better styling to the table. You might even get one cheaper, too, with Hagerty billing a price bracket of $31,400 to $39,300.


For those shopping in the supercar bracket, the manual-transmission Audi R8 is pipped to shoot up in value in coming years. Values are already up 37% from 2019 figures, with prices expected around $154,00 to $186,000 for those in excellent condition. It offers something modern supercars don't—a gated transmission with three pedals. The 2004-2010 Mecedes-Benz SLR McLaren is also a good buy according to Hagerty. The rare collaboration model is currently pipped at prices around $329,300 to $380,700.

If you demand nothing less than a V12, though, the Lamborghini Murcielago may be more your speed. Built from 2001 to 2010, prices sit around $302,700 to $342,700, with the car increasingly a target for younger enthusiasts. Values are up 48% since 2019, but more growth is expected in coming years.


Fans of American muscle might consider securing themselves a 1968-1970 AMC AMX. It's long been undervalued in the muscle scene, with most enthusiasts focused solely on the output of the Big Three. As a guide, the AMX has appreciated 28.8% since 2019, versus 40.5% for the 1967-1969 Chevrolet Camaro over the same period. However, as is often the case, less-popular models can quickly skyrocket in value when enthusiasts give up on their first-choice cars and look for something they can actually afford. The AMX is primed to make just such a move. Values are currently forecast around $30,500 to $40,600 for excellent examples.

As for motorcycle enthusiasts, the vintage Harley-Davidson Knucklehead is overdue for a price spike. Built from 1936 to 1947, the bike has a solid ownership base among the under-45 set, which bodes well for future demand. Prices are currently estimated to sit around $90,300 to $115,000 for bikes in excellent condition.


It bears noting that Hagerty's predictions are just that. They are based on solid insights, though. It checks out that a car solely bought by older generations is unlikely to go up in price. In contrast, a car with a growing, youthful fanbase is likely to be in increasing demand as that cohort gains wealth as the years go on.

The decision to buy an enthusiast vehicle often comes down to personal taste. We all have our favorite cars, which are often models we've drooled over since our youth. However, buying smart can be of great benefit to the savvy gearhead. If you're hunting out the cars that nobody has caught on to, you'll be buying at a much better price. If prices are going up, it's also much easier to justify spending money on repairs and maintenance. Plus, if you can sell the car at a later peak, you've got plenty more cash in the bank for your next acquisition.

Got a tip? Let the author know: [email protected]

Commnets 0
Leave A Comment