Hagi classic car index reaches record high in July 2013



2015-06-26 13:23:33

Hagi classic car index reaches record high in July 2013

The Hagi classic car index gained 4.7% in just one month

The Historic Auto Group's Hagi Top Index,which measures the value of the collector classic car market,posted an increase of 4.7% in July.

Grand Prix winning car auction The sale of Fangio's magnificent Mercedes boosted the index to a record high

This brings the index to a record high of 203.34.

The index has also seen a 27.1% gain for the year to date, with the market for rare classic cars more than doubling since the index's inception in December 2008.

The gains have been spurred by record sales in 2013. Bonhams set the record for any car sold at auction in July, as Juan Manuel Fangio's Mercedes W196 made $29.6m at the Goodwood Festival of Speed.

However, the Historic Auto Group does warn that it believes the growth rates aren't sustainable long-term.

The index will likely normalise as the year progresses, it says, yet more record results are expected at the forthcoming Pebble Beach Concours d'Elegance - see the highlights of the illustrious event in our Classic Cars news section.

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