Every year Hagerty releases its "Bull Market" picks of classic cars tipped to rise in value for the following year. So which are the ones to look out for... and why should we take any notice of Hagerty anyway?
Hagerty is a global company started in the US (based in Traverse, Michigan) with a stated purpose to "save driving and car culture for future generations and its mission is to build a global business to fund that purpose. Hagerty is an automotive enthusiast brand offering integrated membership products and programs 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 featured here is for the UK, but it has plenty of interest and relevance to Kiwi car enthusiasts. 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. The results are examined to find indicators that suggest a car is rising in value and increasingly in demand amongst car enthusiasts. More importantly, looking at any kind of classic car trend is fun.
Audi TT quattro Sport (Mk1), 2005–2006
While the TT has a reputation as a model more about show than go, Hagerty says changes for the Sport make it better car for the enthusiast and therefore much more desirable. Only 800 examples were built, so it's rare too.
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The 1.8-litre turbo engine delivers 176kW, with torque increased to 320Nm. It accelerates from 0-100km/h in 5.9 seconds. There are numerous detail changes to finesse the car: the transmission casing for the four-cylinder engine houses the ring gear of the six-speed gearbox adopted from the top-of-the-range TT 3.2. The bodyshell is the same as that of the 1.8T except for the rear floor, which has also been adopted from the TT 3.2.
The TT quattro Sport is easily identifiable by its two-tone colour scheme, with dark roof.
Austin Seven, 1923–1939
Herbert Austin dreamed up the concept of a small, cheap car to address the issue of vehicle excise duty in the UK. He worked with 18-year-old Stanley Edge, drawing up a seven-horsepower (hence the name) car that would seat four and provide escapism.
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 upcoming centenary.
Bentley Turbo R, 1985–1997
The Turbo R gave Bentley important differentiation from Rolls-Royce. By turbocharging its "six-and-three-quarter" litre V8, Bentley created a car that was faster than any contemporary Royce.
Hagerty says it's a "massive amount of car for the money" but service history and condition are extremely important.
Citroën BX, 1982–1994
Marcello Gandini’s geometric shape ensures the BX stands out as a 1980s icon.
Says Hagerty: "Quickly, the BX shows its strengths: it’s absurdly low-effort to drive, much like a modern car in fact, but packed with character, and in diesel form, running costs should be low too.
"The BX is a car that ticks numerous boxes in 2023: bargain prices, modern-car utility, iconic 1980s design – and a genuinely charming and relaxing drive."
Lamborghini Diablo, 1990–2001
In terms of classic supercars, the Diablo is regarded as a bargain compared with its contemporary rivals like the Ferrari F40, Porsche 959 and Jaguar XJ220. Bearing in mind that "bargain" is relative and not the same thing as "cheap".
The car was designed by Marcello Gandini, when Lamborghini was under the ownership of Swiss brothers Jean-Claude and Patrick Mimran, who initiated the project to replace the Countach, in 1985.
But by the end of 1987, Chrysler had taken over Lamborghini, and it charged Tom Gale with refining Gandini’s early work, which was deemed to be fussy. Hagerty describes it as "criminally overlooked".
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 found up-top. It's also reliable. Brand experts argue that the heavier S2 is not as delicate as the S1, but Lotus also ironed out some of the car's nervousness at speed, so 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. Because it remained on sale for an extended period (1989-2001), there are also many to choose from.
There were inline six, V6, V8 and V12 engines offered, but many argue the V8-powered SL500 is the sweet spot in the range
Saab 99 Turbo, 1978–1980
The 99 was the Saab that introduced many to the wonders of turbocharging; BMW and Porsche were doing it already, but the Swedish car brought forced induction into the mainstream.
A two-door 99 Turbo appeared in 1979, necessary to homologate the model for rallying, and a five-door followed. Hagerty says it's "alternative when new, alternative today, [and] the 99 Turbo is rare."
Triumph Spitfire, 1962–1980
There has always been a loyal Spitfire scene among fans of classic British sports cars. The idea for the Spitfire was born in 1960: Triumph needed a car that could compete with the Austin-Healey Sprite and MG Midget, and positioned its offering just above the pairing. It was an instant hit.
In 1970 a facelift brought with it a reworking of the rear suspension, to tidy up the Spitfire’s roadholding, but Hagerty says all generations of Spitfire will "continue to please car enthusiasts for many decades yet".