Monday, September 11, 2023

Hemmings State of the Hobby August 2023

Here at Hemmings, we are in the thick of the hobby, working on our own cars, cleaning them up, taking them to events, or maybe just getting out on the road for a cruise. We also pay close attention to what's happening in the collector car market, noting what's selling, what's not and letting you know what the next big thing might be. Below is our check of the pulse of the collector car space for the month of August 2023.

August 2023 By The Numbers

In August 2023, submissions to Hemmings Auctions rose 8% year over year, while private seller Classified listings were down 15%, the latter attributable to many more people listing their vehicles via Hemmings Make Offer and Auctions. Launched auctions climbed 27% and overall vehicles sold in auctions were up 19% (including post-auction Make Offer sales). Total Hemmings Marketplace sales, including Make Offer listings, were up 30% from August 2022.

The summer has shown that the collector car market seems to have stabilized. The trend has been for higher volume, but no growth in average sale prices, and that's what we saw in August as well: more cars, flat prices. Areas of growth are more specialized or limited now. Even the live auctions at Monterey saw a drop of 15 percent in overall dollar volume despite more cars offered. On the positive side, we have seen continued growth in submissions to not just our traditional Auctions, but also our newer Make Offer option for listing a vehicle.

Terry Shea Appointed Hemmings Marketplace Editor

Terry Shea has been involved in the day-to-day operations of Hemmings Auctions since the beginning, recently serving as its Director of Operations. Terry rejoins the Editorial team as the Marketplace Editor, focused on covering the collector car market and empowering you with the tools to decipher market trends.

Collectability Callout: First-generation 1955-'57 Ford Thunderbird

An instant classic when it debuted for 1955, Ford's original Thunderbird was low and lithe like the European sports cars that inspired the blue oval to design and build it. Given its sporting intentions, it featured seating for two with a higher-performance four-barrel V-8 and tachometer as standard equipment. Check the right boxes, and some models later included dual-quad and even supercharged versions of Ford's Y-block OHV V8. Since the start of 2020, no less than 41 first-generation Thunderbirds have successfully sold via the Hemmings Marketplace, with the following sales results achieved.

For an deeper look at the numbers, take a look at our Market Snapshot: 1955-'57 Ford Thunderbird.

Looking for a Ford Thunderbird?

1955-'57 Ford Thunderbird Price Trends

It's Almost a Classic! Cadillac XLR

Cadillac entered the 21st century on a roll, revamping its entire lineup over the course of a few years to face off directly with European and Japanese competition. Based on the Corvette C5 platform and built in the same factory, the two-seat XLR roadster featured a multi-valve 4.6-liter DOHC V8 in place of the Vette's OHV V8. The differences only grew from there. Where the Vette was sports car serious, the XLR had the warmth of leather throughout, along with wood trim. Every XLR also featured a power folding hardtop that disappeared completely under a hard cover. Cadillac offered the XLR from 2004 through 2009. Values for the XLR and the pricier, higher performance supercharged XLR-V have been slowly rising in recent years.

Interested finding a Cadillac XLR?

Hemmings Now Offering Vehicle Shipping

Hemmings has partnered with Acertus to offer shipping services. Whether you have a vintage vehicle, sports car, muscle car, hot rod, custom car, or a classic truck that requires shipping, extra care is made to ensure your vehicle gets to its destination safely and efficiently.

With an admirable 99.5-percent damage-free delivery rate, ACERTUS offers a choice between open carrier or fully enclosed trailer transportation. Text and email notifications will keep you up to date on your vehicle's shipping progress, and when the big arrival day comes close an ACERTUS driver will call to set a specific meeting time. Need help shipping? Head to Hemmings Shipping for a free quote and premium, white-glove service.

Sale of the Month: 1963 Jaguar E-type Series 1 Roadster

Jaguar's E-type is a consensus pick for one of the all-time most beautiful cars and with its powerful twin-cam inline-six, the XKE was both one of the fastest and quickest of its day, too. This 1963 Jaguar E-type Series 1 roadster, a.k.a. "OTS" for "open two-seater" in Jaguar parlance, featured all of the elements that make an early E-type desirable, including Perspex-covered headlights and small bumpers. Restored and recently detailed to a high standard in preparation for the auction, this E-type sold for $204,750, a premium over the recent market average of approximately $148,000, according to Classic.com.

Auction Tip of the Month: Follow the Market

What's the best way to know what to expect when you're ready to list your vehicle? Knowing what the current market status is for your collector car. Flying blind in what can be a rapidly changing market is never a wise idea. At Hemmings, all of our sold listings remain active so that buyers and sellers will be able to know what the market has delivered on the cars they are exploring. Simply search the vehicle on the Hemmings web site, choose the "Listing Status" filter on the left side and select the box for "Sold." You will be able to view the listings for sold vehicles of the same type, allowing you to not only see the final price and bidding history, but also the conditions, features and trim levels of the sold vehicles.

Sell Your Classic Car With A Hemmings Listing, Today!