Auto insurance firm Hagerty has revealed the 10 cars it believes are likely to increase in value next year.
The bull market list was compiled by its valuation team, which spent months identifying the makes and models likely to rise in price in 2023.
They include classics and emerging modern classics.
Audi’s TT is one of the newer models listed by Hagerty this year, and the recommended model to appreciate is the Mk1 Quattro Sport.
Essentially the ‘final edition’ of the first generation TT, it has become more of a driver’s car through increased power and reduced weight.
Only 800 were made for the UK market, with the most desirable coming with Recaro Pole Position seats, an option when new.
Hagerty says that “a big price increase is unlikely, but it should continue to rise.” Values currently sit at an average of £10,075.
The 1920s Austin Seven was designed as a simple and affordable car at a time when few could afford their own motorized vehicle.
This Austin is famous for being simple and easy to drive and service, described by Hagerty as an “inexpensive gateway to the pre-war vintage car scene and also a refreshing antidote to modern cars.”
Prices have already increased compared to last year to an average of £14,125. Hagerty says they are rising in value, helped by the model celebrating its centenary in 2022.
When the Bentley Turbo R was introduced in 1985, it displayed a performance side to the company that helped set it apart from rival Rolls-Royce.
Its powerful 6.75-liter V8 turbocharged engine generates an estimated power of 328 hp.
Although current values, averaging £15,400, are below the 2020 peak, Hagerty says it’s a ‘slow rise’ and a ‘huge amount of car for the money’.
The BX, sold between 1982 and 1994, is an emerging model but currently still offers great value, with a current average price of just £2,150.
Again, BX isn’t likely to go up in price dramatically, but Hagerty says he “expects values to rise slightly, probably keeping pace with inflation.”
With Ford will stop manufacturing the Fiesta in mid-2023it’s likely to bolster the appeal of this supermini, including the Mk1 model that started it all in 1977.
Said to have ‘enduring popularity’, early Fiestas, now certified classic cars, are already on the move.
Currently valued at an average of £4,325, their prices have already increased by around 20 per cent compared to pre-Covid levels, according to Hagerty.
The insurer believes that when a sporty Fiesta hits a record price, it will boost the values of all early standard high-quality Fiesta models.
At the opposite end of the spectrum, we have Lamborghini’s Diablo supercar from the 1990s.
With its V12 engine and extravagant looks, it’s a car that turns heads wherever it goes.
Currently, however, Hagerty says prices are “exceptionally low” for a 1990s supercar on today’s market, particularly when compared to the nearly £1m value a Ferrari F40 is now worth.
A Diablo now commands an average price of £137,500 for a standard car and £179,250 for the sportier SV version, and the insurer says it would be surprised if it doesn’t “significantly increase in value over the next 12 months”.
While early S1 (series one) cars have already risen, Hagerty now expects the latest S2 car, sold between 2000 and 2010, to follow.
The insurer says the S2 model is “in many ways” better than its predecessor, saying its “value trend lines all point upwards.”
Currently priced at an average of £20,000 in the UK, US examples now frequently sell for twice as much.
The R129 (codename) SL was sold from 1989 to 2001, and the V8-powered SL500 is said to be the sweet spot in the lineup.
Average prices for this wearable modern classic have already risen by a fifth since lockdown to an average £17,475, but Hagerty says another 20 per cent increase over the next two years would not be unexpected.
Saabs has a particularly loyal following, even more so after the Swedish marque went defunct in the 2010s.
It was the 99 Turbo, sold between 1978 and 1980, that helped bring turbocharged engines to the mass market.
There are believed to be fewer than 100 examples of the 99 Turbo left in the UK, with their current average values at around £14,000.
Prices have already been said to have risen by 20 percent, and Hagerty expects contest examples in particular to increase within a couple of years.
Sold between 1962 and 1980, there are still plenty of these two-seat roadsters on the market and good parts availability.
While Hagerty says that values have been flat for the long term, there are signs that the good old Spitfires are taking off.
The first cars in concours condition are the most valuable, with prices exceeding £28,000 for the best examples.