Hagerty’s Surprising Picks of five modern classics going up in price!
Hagerty, the gurus of classic car insurance and valuations, have just released their third-quarter report for 2024, and they’ve spotted some intriguing trends. The market may be cooling down, but these five surprising cars are hot right now!
The Cooling Classic Car Market
First, let’s set the scene. Post-pandemic, the classic car market surged, with values hitting new highs. But now, Hagerty says things are starting to settle back to pre-pandemic levels. That’s right, the market is cooling off, but here’s the twist – some cars are still gaining ground. But which ones, and why?
Turns out, collectors are willing to pay a premium for rare, low-mileage, and exceptionally well-kept examples of specific models. And some of these might surprise you! We’re talking about everything from rugged SUVs to quirky coupes – so let’s jump in.
1. 1986-1993 Mercedes-Benz 300D/E300 Diesel
You wouldn’t think a mid-range diesel Merc from the late 80s and early 90s would make headlines for high value, but here we are! The 300D, part of the legendary W124 series, is up 68% in value. These cars were the workhorses of Europe – often used as taxis – known for their unbreakable build quality. So why the rise? It’s all down to rarity and condition. Low-mileage, time-capsule examples have been hitting the market, and collectors are scrambling to snap them up. In fact, an 8,400-mile example recently went for six figures – yes, you heard that right!
It’s almost ironic, isn’t it? A diesel car, meant to rack up hundreds of thousands of miles, sitting around barely driven. But that’s what collectors want: cars in mint condition that harken back to a simpler time. If you’ve got a 300D sitting around, and it’s barely done any miles, now might be the time to cash in.
2. 1988-1991 Honda CRX Si
Here’s one that really brings back memories (I used to own one myself, and it ranks in my top three favourite cars I ever owned) – the Honda CRX Si. These little pocket rockets were an icon of the late 80s and early 90s. They helped cement Honda’s reputation for making fun, lightweight cars that could punch well above their weight. The CRX is up 25% in value this year, with excellent condition examples trading for as much as $30,000 in the US. In the UK, they’re a bit rarer, and good examples are creeping up towards £10,000.
The reason for the rise? Originality. It’s incredibly tough to find an unmodified CRX these days. Most have been tuned, lowered, or modified over the years, which makes the original, untouched versions even more desirable. If you’ve got one in your garage that’s still in factory spec, you could be sitting on a future classic.
3. 1991-1997 Toyota Land Cruiser FJ80
The FJ80 Land Cruiser has always had a cult following, but now it’s becoming a collector’s favourite. Up 19% in value, the FJ80 is seen by many as the pinnacle of Toyota’s engineering prowess – solid axles, triple locking differentials, and that rugged, go-anywhere capability. In the Middle East, it’s an icon, and these cars have often racked up hundreds of thousands of miles. A friend of mine just restored and sold one; he’s going to wish he hadn’t after reading this!
Clean examples, especially those with low mileage, are fetching impressive sums. We’re talking $50,000 and up, with a 4,200-mile example recently selling for $170,000! These were built to last, and collectors are increasingly seeing them as both a solid investment and a reminder of the golden age of off-roading.
4. 1984-1988 Pontiac Fiero
The Pontiac Fiero is a bit of a wildcard here. Never really taken seriously when it launched, it’s now up 17% in value. Initially plagued by reliability issues, the Fiero found its niche as a donor car for kit cars, thanks to its mid-engine layout. But recently, collectors have started to see it differently. The GT version, in particular, is becoming more desirable, and prices for pristine examples are climbing.
Think about it – a mid-engine American car from the 80s that’s not a Fiat X1/9. It’s quirky, it’s different, and it’s a piece of GM history. If you’ve got one, maybe think twice before turning it into a fake Ferrari – it could be worth more as it is.
5. 1990-1997 Mazda Miata (NA)
No surprises here – the original Mazda Miata (or MX-5 as we know it) is still on the up, with values increasing 16%. The NA Miata is the quintessential roadster, offering pure driving joy with its lightweight, simple construction and classic pop-up headlights. Pristine examples are now fetching nearly $40,000 in the US.
The Miata is a car that’s always been about fun, and collectors are recognising that. It’s a car that’s both accessible and rewarding, and its status as the world’s best-selling roadster isn’t going away anytime soon.
The Bottom Line
So, there you have it – five classic cars that are defying the odds in a cooling market. From diesel Mercs to quirky mid-engine Pontiacs, the common thread here is rarity and condition. Collectors are looking for the best of the best – low mileage, original, and well-kept examples that tell a story. If you’ve got one of these sitting in your garage, it might be time to reconsider its value.
Anyway, what do you think of Hagerty’s picks? Are there other cars you reckon should be on this list? Let me know in the comments below, and make sure you’re subscribed for more updates on the classic car market, trends, and everything in between. Catch you in the next one!
I’m going to add one of my own here – my BCG BMW E30, a 1989 325i SE, which is now up for sale. There’s a major job that needs doing on it, but once that’s sorted, I reckon it could sit in Hagerty’s ‘Excellent’ category, where values are up to £21k now. Concours examples are now valued at £40k – they were £22k just a year ago!
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