Index of the Automotive A-List
While the end of 2022 was slow for the top of the market, the beginning of 2023 saw renewed activity following the Scottsdale, Paris, and Amelia Island auctions. The results culminated in a 1 percent increase to Hagerty’s Blue Chip Index. This bump doesn’t tell the whole story of what is happening at the top of the market, however.
Results for component cars were very active yet very mixed with seven vehicles posting gains and four of them losing ground. The largest increases were a 14 percent gain by the Mercedes-Benz 300SL Gullwing and a 9 percent increase by the Alfa Romeo TZ-2, both at the very top end. The mid-range, meanwhile, saw a 6 percent gain by the Shelby GT350 and a 7 percent bump by the 1953 Corvette. Increases were tempered a bit by the 1967 Corvette 427/435, which lost 12 percent, and the Rolls-Royce Silver Cloud I, which lost 4 percent. What we’re seeing at the top of the market is indicative of what we’re seeing elsewhere – results are very mixed but there is clearly still steam in the market.
-Greg Ingold, April 2023
The Hagerty "Blue Chip" Index of the Automotive A-List is a stock market style index that averages the values of 25 of the most sought-after collectible automobiles of the post-war era. The list below shows the cars that make up the index, while the graph to the left shows this index’s average value over the years. Values are for #2 condition, or “excellent” cars.
The term "Blue Chip" at one time referred to the highest value chip at a casino. Since the 1920s, "blue chip" has been a stock market term for the most stable and consistent stocks.