If you are the proud owner of a classic car then it is likely that you bought it for one of three reasons or perhaps for more than one reason – either because you love restoring classic cars, or you enjoy driving around in such a vehicle or you purchased it as an investment. So, how did the classic car market perform in investment terms in 2020?

Well, according to the HAGI Top Index (Historic Automobile Group International Top Index) that values historic automobiles of an exceptional standard, the value of such classic vehicles rose by 6% in 2020. It is worth noting that in 2019 the value of such vehicles fell by 7% so that is quite a turnaround.

Considering the coronavirus pandemic that took a hold in many places around the world in the early part of 2020, it could be argued that it is pleasing to see a positive increase in value of such classic cars last year. After all, many auction houses closed down for a lengthy period of time apart from a number of online auctions taking place. That may well have had an impact upon the value of classic motor cars both here in the UK and in other countries around the world.

It will be interesting to see what happens to values this year as we hopefully gradually come our of lockdown and there is more scope to buy and sell classic cars. In this respect, you may find it of interest to read that the HAGI Top Index for the month of March 2021 showed a fall in investment values of 2.03% and on a year to date basis to March 2021 values fell by 4.38%.

In March 2021, the HAGI P Index that looks at the value of classic Porsches, grew by 0.17% but on a year to date basis to March 2021 it fell by 1.94%. The HAGI F Index that looks at the value of classic Ferraris dropped by 5.8% in March 2021 and on a year to date basis to March 2021 fell by 5.77%.

It is difficult to predict what is going to happen to the value of classic cars in the coming months and years. Of course, if we had a crystal ball, the decision as to whether to buy or sell a classic car would be made that much easier. As with many other types of investment, the value of a classic car can go down as well as up.