Fortuitous article from Hagerty.
Ira Erbs
IT Educator and Consultant
Portland, OR.
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Date: Nov 11, 2013 7:15 AM
Subject: Austin-Healey Club Newsletter: Fall Market Update
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*Austin-Healey Club Newsletter: Fall Market Update Courtesy of Hagerty*
*By: Brian Rabold*
Only a few major North American classic car auctions remain for 2013, and
those events typically don't draw more than a handful of British marques.
As such, now is an opportune time to glance back at the year's market
performance for Austin-Healeys. And by nearly all measures, the year was
quite good for owners.
The latter half of 2013 saw the ex-Works BJ7 campaigned by Paddy Hopkirk in
a number of significant races score a $352,000 sale price at Bonhams' Quail
Lodge auction in August to become the second most expensive Austin-Healey
sold on American soil and the fourth most expensive Healey sale ever. RM
also sold an excellent 100M Le Mans car in Monterey for $198,000. Three
other Healeys topped six-figure sale prices since June, with two of those
occurring during Pebble Beach festivities, and six of this year's top 10
Healey sales happened in the second half of 2013.
High sales weren't the only measure of a growing market. Compared to 2012,
2013 saw the average and the median sale prices from both the public
auctions and the private sales that Hagerty tracks climb significantly. For
all market activity, the average sale price for an Austin-Healey in North
America was $57,499 (up 33% over 2012) and the median sale price was
$50,000 (up 30%). Despite 28% fewer cars coming to market thus far in 2013,
16 eclipsed the $90,000 mark, whereas 11 did so in 2012.
Unlike other areas of the collector car market, price increases for
Austin-Healeys weren't limited to the most expensive cars. In fact, all
models benefitted, with the median price paid for a 3000 going up nearly
9%, a Healey 100's median price increasing by 13%, and the Sprite jumping
45%.
All the same, even though 2013 reported much stronger statistics than 2012,
and despite the fact that the previously mentioned high-profile sales from
Pebble Beach week boosted average sale prices well above levels seen during
the first half of the year, the median price paid at auction for an
Austin-Healey from July through October in North America was actually 3%
lower than it was from January through June. Does this portend falling
values for 2014? Is market exuberance shifting to hesitation? It's too
early to make either claim, especially since the same phenomenon didn't
surface in the private sector, but it certainly does give reason to keep
enthusiasm in check.
*Brian Rabold is editor of *Hagerty Price Guide
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