Hagerty Value Guide - 1966 GT350 shot up!

[silverton_ford]

Did anyone else notice a huge spike in the value on the 1966 GT350 on Hagerty's value guide?

Hopefully you can see this page, but you may have to log in if you have an account.  I don't know.  Here is a link to the entire value guide for the 66 GT350 - - https://www.hagerty.com/apps/valuationtools/values/52493?yearRange=15

Notice the value differences from January 2021 to May 2021 in the snapshot from the site below.  Top column is # 1 condition down to # 4 condition.   This is base model GT350, not the Hertz, Carryover or Convertible.  Hertz and Convertible have their own separate analysis.  For a Carryover they say to add 35% to these figures, these figures do not include Carryover cars.


I realize there is the argument that an insurance value guide may be higher than others to help increase insurance rates.  I don't know if that is true or not and not really my point here.   I am more impressed by the level these figures jumped.  Simply amazing!

Does Heacock, Grundy or any of the other big name collector car insurance companies have a similar value guide?  How do they compare?

What are other's opinions?

[trotrof1]

These escalating valuations may be partially the reason fewer old school cars are attending cars shows and are being supplanted by newer cars. Look on Ebay and see how much they bid up a rusty, gutted, 60s muscle car these days.

[Shelby_r_b]

It's interesting that you posted this, Brian.  I recently looked out of curiosity, and was amazed at the numbers / increase on 66 Shelbys (again, non-Hertz, Carryovers, etc.).

It does seem that 66s have gone up quite a bit in value, and the same could be said for 65s and 67s - I haven't looked at 68s and beyond.

Incredible!

[shelbydoug]

I had a claim with State Farm on a non-Shelby car but with one that Hagerty valued at $9,200 in it's then present condition.

State Farm said it was only worth $1,100.


In the debate State Farm produced an "evaluation" from an independent underwriter that showed the number but yet could produce no evidence such as current auction results.

They refused to accept other evaluations such as Hagerty's as hearsay.


So this really is relevant in that the only place that will accept your $350,000 valuation is Hagerty. If for sake of discussion, you had a claim against a State Farm insured, expect an extended argument.

They will produce "evidence" with no documentation showing a much lower valuation and refuse to accept "auction results" as unsubstantiated so you'll be back to negotiating a number.


Lots of things are reducing the useage of "vintage vehicles" including this one but also the traffic generally is heavier, the owners are older and no one wants to advertise what they have.

[CSX 4133]

Funny this subject has come up, I received a call from Hagerty wanting me to revisit my valuations on the Shelby's just this last week.

Make sure you are asking the right questions regarding your particular policy.

https://www.lelandwest.com/stated-value-vs-agreed-value-classic-car-insurance.cfm

[Tired Sheep]

Maybe we could post some of those $300,000 plus  1966s?

I would like to see them

[68stangcjfb]

On the Hagerty site, it looks like almost all the 1962 to 1970 Shelby's and Cobras went up over the last few months. Interesting that a 1965 Daytona Coupe is now worth $30,600.000 in #1 condition according to them and $19,600.000 in #4 condition!

[SFM6S087]

The Hagerty valuation seems on the high side to me. Does anyone know of any cars actually selling in those ranges?

Steve

[67 GT350]

The Hagerty valuation seems on the high side to me. Does anyone know of any cars actually selling in those ranges?

Steve

Nope.
But any year Shelby is worth what someone is willing to pay for it. In the auction world, it is only worth what one person wants to pay over the 2nd place person wants to pay.
If cars are valuable as said, then why pay extra to put a reserve on your car? Start it out at a buck and according to Hagerty, it will make you happy at the auctions ending, OR not?
Funny fact, I have a friend who went to insure his 65 GT350, Hagerty was not only high on values, but they wanted way more to insure his car over what he got at American Classic Ins.....Connection? You be the common sense judge.

[Bob Gaines]

The Hagerty valuation seems on the high side to me. Does anyone know of any cars actually selling in those ranges?

Steve

Nope.
But any year Shelby is worth what someone is willing to pay for it. In the auction world, it is only worth what one person wants to pay over the 2nd place person wants to pay.
If cars are valuable as said, then why pay extra to put a reserve on your car? Start it out at a buck and according to Hagerty, it will make you happy at the auctions ending, OR not?
Funny fact, I have a friend who went to insure his 65 GT350, Hagerty was not only high on values, but they wanted way more to insure his car over what he got at American Classic Ins.....Connection? You be the common sense judge.

FYI In the auction world the house can and do many times bid up a car to the reserve. So you may not be bidding against another 2nd place person buyer but the house instead. It is not supposed to happen in no reserve auctions however I am sure it does from time to time. In those scenarios it is worth what the one buyer is willing to pay for it.

[67 GT350]

The Hagerty valuation seems on the high side to me. Does anyone know of any cars actually selling in those ranges?

Steve

Nope.
But any year Shelby is worth what someone is willing to pay for it. In the auction world, it is only worth what one person wants to pay over the 2nd place person wants to pay.
If cars are valuable as said, then why pay extra to put a reserve on your car? Start it out at a buck and according to Hagerty, it will make you happy at the auctions ending, OR not?
Funny fact, I have a friend who went to insure his 65 GT350, Hagerty was not only high on values, but they wanted way more to insure his car over what he got at American Classic Ins.....Connection? You be the common sense judge.

FYI In the auction world the house can and do many times bid up a car to the reserve. So you may not be bidding against another 2nd place person buyer but the house instead. It is not supposed to happen in no reserve auctions however I am sure it does from time to time. In those scenarios it is worth what the one buyer is willing to pay for it.

Funny you said that about auctions, I was bidding on my old 67 GT350 a few years back and it did seem like they were pulling up bids from the air. I knew this because there was 2 of us bidding, and when I pulled out it kept going up, and the auctioneer was pointing off in space..I guess they have to bid up to the reserve, or else there would be many cars going back home and where would these auction houses get their money? Is that a case where normal people (like me) just don't know? Can't do that on ebay unless you have a "friend"

[Bob Gaines]

I was at BJ (no reserve auction) one year and watched first hand when Reggie Jackson didn't need a friend to bid up his car because he did it himself in front of cameras etc. I watched it again later on TV as the infraction was recorded for posterity.  I never heard if he got scolded for that or not. I doubt it . Anyone else would have gotten kicked out.

[MustangMann]

As we all know, the auctions can provide us with some guidance as to a vehicles value, but sometimes, things are not as they seem.  I was involved in the private sale of a concourse Carryover '66 GT350 that sold for over $300k in 2018.  Unfortunately, these private sales often go unnoticed to the big companies that evaluate the market.  On the other hand....maybe that is a good thing!

Ken

[sfm5]

Not certain what timeframe goes into updating Hagerty valuations, but when I think of the '66's that have sold over the past year they did go for noticeably higher than in the past. The ones that come up on BaT seem to routinely sell for over $200K. I also notice an absence of 67 gt350s at auctions lately - where did they go?

[jguyer]

I had a claim with State Farm on a non-Shelby car but with one that Hagerty valued at $9,200 in it's then present condition.

State Farm said it was only worth $1,100.


In the debate State Farm produced an "evaluation" from an independent underwriter that showed the number but yet could produce no evidence such as current auction results.

They refused to accept other evaluations such as Hagerty's as hearsay.


So this really is relevant in that the only place that will accept your $350,000 valuation is Hagerty. If for sake of discussion, you had a claim against a State Farm insured, expect an extended argument.

They will produce "evidence" with no documentation showing a much lower valuation and refuse to accept "auction results" as unsubstantiated so you'll be back to negotiating a number.


Lots of things are reducing the useage of "vintage vehicles" including this one but also the traffic generally is heavier, the owners are older and no one wants to advertise what they have.

I will just say, State Farm was a poor choice 52 years ago, when my mother had it. Obviously, they have not improved.