The Hagerty Vehicle Rating is a 0-100 measurement of a vehicle’s performance relative to the market.
The assigned score indicates if a particular model is outperforming the classic car market, underperforming, or whether it’s aligned with the rest of the market. It is entirely data driven and serves as a quick indication of a vehicle’s “heat” (or lack thereof) compared to the market at large.
Also, the rating is not an expectation of how a vehicle will perform, but instead how it is performing currently —it’s not a projection, but instead a barometer.
What do the different ratings mean?
A rating of “50” indicates that a model is keeping pace, or is aligned, with the rest of the market. That means when the market is flat, a model that is also flat will be scored at or around 50. Similarly, when the market increases by 8% overall, for example, a model that has also increased by 8% will be scored at or around 50.
A Case Study
In 2013, a limited-edition 2006 Ford GT Heritage sold for $404k at Monterey —80% more than Hagerty Price Guide’s #1 condition values for that vehicle. A Ford GT craze ensued over the next few years, leading to a 45% increase in the number for sale at auctions in North America, as well as a 24% increase in the average sale price. Consequently, 2005-2006 Ford GTs were deemed to be “hot,” earning a Hagerty Vehicle Rating of 85 in November of 2015 —performing well above the market.
And, when the market has decreased by 5% overall, for example, a vehicle that has also decreased by 5% will receive a score of at or around 50.
In other words, a vehicle with a performance that closely parallels the market’s performance —no matter if that market performance is positive or negative —will score a rating of around 50.
Ratings above 50 are assigned to vehicles that are growing faster than the market at large, with higher numbers corresponding to vehicles with stronger market performance.
Conversely, ratings below 50 are assigned to vehicles that are growing more slowly than the market at large, with lower numbers corresponding to vehicles with weaker market performance.
Think of a rating of 50 as “neutral” —in this context, a vehicle rated above 50 is seeing more market activity with price increases (from data based on recent sales) above what the rest of the market is experiencing.
Conversely, a vehicle rated below 50 is seeing lagging market activity and slower price increases (or greater price decreases) than the broader market.
To simplify, vehicles with ratings noticeably above or below 50 represent a deviation from the rest of the market.
|100 - 60
|60 - 50
|40 - 50
|0 - 40
How is it calculated?
The Hagerty Vehicle Rating takes a variety of factors into account. The primary measure is Hagerty Price Guide values, with the remaining inputs either increasing or decreasing the baseline rating.
|HAGERTY PRICE GUIDE
|Change in the average values of models in #3 or "good" condition over an 8-month period (based on transactional data)
|• Change in the number of cars offered during the previous 12 months
|• Change in the average sale price during the previous 12 months
|• Sell-through rate during the previous 12 months
|• Change in the number of cars sold during the previous 12 months
|• Change in the average sale price over 12 months
|• Percentage of sales exceeding their insured value over the last 12 months
|• Change in the number of cars added during the previous 12 months
|• Change in the average added value during the previous 12 months
|• Change in the number of cars quoted over the previous 12 months
How does the Hagerty Vehicle Rating relate to the Hagerty Market Rating?
The two ratings are companions. Use the Hagerty Market Rating to gauge the current state of the market. Use the Hagerty Vehicle Rating to determine which vehicles are the strongest and weakest within the current market.
Like the Hagerty Market Rating, the Hagerty Vehicle Rating considers a variety of market inputs in order to put value changes into context. Unlike the Hagerty Market Rating, the Hagerty Vehicle Rating reports relative rather than absolute performance —meaning that there will always be vehicles that are outperforming the market at large, even when the overall market is down.
Theoretically, in a down market the cars that have the highest vehicle ratings above 50 may still be losing value —they are just doing so at a slower rate than the rest of the market.
With the Hagerty Market Rating, values above 50 are always indicative of a growing market, and values below 50 are always indicative of a contracting market.
Why isn't there a rating for my vehicle?
In order to have enough reliable data to report a meaningful rating number, coverage is limited to vehicles that are represented in the Hagerty Price Guide. As coverage in the Hagerty Price Guide grows, more vehicles will be rated.