- The Hagerty Power List investigates the impact celebrity
ownership and association have on the market value of a vehicle, in
some cases rising as much as 16,000 percent
- Power List looks at a variety of sectors including Art Cars,
Racing Drivers, Movie and TV, Musicians, Royalty, Celebrities, and
Athletes
- Movie cars appear from the likes of Smokey and the
Bandit, Wayne's World, Herbie, and
Ghostbusters
- Cars of music stars such as Freddie
Mercury, Justin Bieber, and
Frank Sinatra are featured, along
with celebrity cars owned by the likes of Simon Cowell, Bruce
Willis, and Sean Connery
- Power List also features the cars of Princess Diana, David
Beckham, Shaquille O'Neal,
and Carroll Shelby, reflecting the
impact their ownership has on sales value
- 400 sales of important vehicles were analyzed by Hagerty data
experts to deliver the definitive list – which can be read
here
TRAVERSE
CITY, Mich., Aug. 31,
2023 /PRNewswire/ -- Hagerty announced today its 2023
Power List which tracks celebrity car influence by analyzing the
increase (and sometimes decrease) in value by comparing stars' cars
with their standard equivalent at the time. Launched in 2022, the
Power List was created to explore how celebrity ownership can
affect the value of a car.
Using Hagerty's vast amounts of market data, the sold price of
selected vehicles were compared with the values of a standard car
at that time. When faced with a unique car such as the Batmobile,
Hagerty valued the standard equivalent of the vehicle on which it
was based on. The end result was a list of famous people and films
and the difference, or 'delta', between the value of their cars
compared to a normal one.
This year, the Hagerty Power List has grown, analyzing nearly
400 sales of celebrity cars and bikes from around the world, each
with their own story to tell. The list comprises seven categories,
including Racing Drivers, Movies and TV, Musicians, Royalty, and
Celebrities. Art Cars and Athletes have also been added for
2023. Category highlights include:
Art Cars highlights – read the full category here
Given BMW's long standing links with the art car scene, it is no
surprise that two of its models are featured in Hagerty's top five
– the Jeff Koons 8 X, and the M1 Pro Car with a Frank Stella Polar Coordinates design.
The highest value increase in this category went to the Astro
Cumulo Uber Express 1960 Cadillac by Kenny Scharf.
The elephant in the room is that the most famous art cars have
not been sold in public. The most valuable of them all is probably
the 1979 BMW M1 racer painted by Andy
Warhol. If it ever sold, the top spot on the entire Power
List may have to change.
Racing Drivers highlights – read the full category
here
Hagerty does not include pure racing cars in the Power List
calculations as there's rarely a 'standard' equivalent to compare
against, and comparison with a road-going version is often
meaningless. Hagerty also ignores sealed-bid auctions, which means
Juan Manuel Fangio's 1958
Mercedes-Benz 300SL, sold last year for a reported $5.5M, is also out.
This year's winner is a 1976 Ford Bronco, bought new by
legendary Canadian F1 driver Gilles
Villeneuve and untouched since his death. It sold for
€136,150 ($147,154.99), a huge 210
percent increase over the $47,529.97
that Hagerty would value a regular example in the same condition.
That sale took the top spot away from Carroll Shelby, who moves into second place.
Movies and TV highlights – read the full category
here
Pixar worked together with Porsche to create a road-going
version of Sally Carrera from
the 2006 Cars movie, based on the current Carrera GTS. The
resulting car sold for $3.6M at a
charity auction. That's an increase of 2,500 percent over the value
of a standard new GTS, a result that placed the Cars star in
third spot in the 2023 list.
There was no budging the two heavyweights at the top of this
particular list, though: the Bullitt Mustang with watertight
provenance, awesome lost-and-then-found story, and McQueen
connection, is likely to be unassailable with its nearly 16,000
percent increase over a standard Mustang. The Risky Business
Porsche 928 hero car is also in a very strong second place.
Musicians highlights – read the full category
here
A 1974 Rolls-Royce Silver Shadow owned by Freddie Mercury sold for £286,250 ($360,600.39) last year against a standard
Hagerty value of just £7,500 ($9,448.05), and it's no surprise that Mercury's
car now dominates the Musicians category in the 2023 Hagerty
Power List.
That wasn't the only new entry this year, however, with six
additions to the top ten. John
Lennon's 1956 Austin Princess, Johnny Hallyday's modified
1979 Porsche 911SC, George
Harrison's Porsche 928, and Dean
Martin's Rolls-Royce are all listed amongst the newcomers.
One notable figure absent from the top ten this year was
Elton John, who slipped down to
11th spot despite having the largest number of cars
tracked by the Power List analysts.
Royalty highlights – read the full category here
During a year that was undoubtedly the most important for the
Royal Family in living memory, including the death of Her Majesty
Queen Elizabeth II, the most fascinating element of the Hagerty
Royal Power List for 2023 is just how little change there was.
A 2012 Bentley Mulsanne, reportedly used exclusively by Her
Majesty Queen Elizabeth II, went on sale for a shade under £200,000
($251,947.87), 150 percent of its
Hagerty value. A 1993 Rover Sterling 2.7, with the owner's name on
the order sheet showing simply as 'Buckingham Palace,' was
auctioned at £6,300 ($7,936.36), a 78
percent mark-up on the non-royal variety, and a 2010 Land Rover
Defender 110 County, built for the Duke
of Edinburgh, sold for £123,750
($155,892.75), a massive 236 percent
mark-up over the standard value.
But the most notable royal car sale of the year just
re-established the automotive dominance of Diana, Princess of
Wales, who leads the Royal Power
List for the second year in succession. Her 1985 Ford Escort RS
Turbo sold for an astonishing £722,500 ($910,161.69), setting not just a record for the
Power List but also a marque record for a road-going Ford
Escort.
Screen Stars highlights – read the full category here
Burt Reynolds is straight in at
number two thanks to the Bandit Pontiac Firebird Trans Am,
given to Reynolds by the production company to thank him for the
success of the 1977 hit movie Smokey and the Bandit. Sold
last year, the Pontiac raised
$495,000, a huge 771 percent over the
standard Hagerty Price Guide value for the model.
Simon Cowell sold his 1970
Triumph Spitfire for nearly six times its non-celebrity equivalent,
and his 1965 MGB for $68,200, nearly
twice its current Hagerty Price Guide value. Jay Leno was also new to this list, with four of
his previously owned cars showing a combined 706 percent uplift
from the norm.
Bruce Willis and Sean Connery also both entered the top ten this
year, the latter thanks to his own Aston Martin DB5, which sold for
an impressive $2.425M, 155 percent
over the top Hagerty Price Guide value for the model.
Paul Newman remained at the top of
our list for a second year running, thanks to his 1988 Volvo 740
estate, which sold for $84,777
including premium, a huge increase over its current Hagerty value
of just $4,923.
Sporting Icons highlights – read the full category
here
David Beckham's Aston Martin V8
Volante caused a stir (advertised for £445,000 ($560,584.02)) and Michael Jordan's Mercedes-Benz S600 Lorinser
described as the 'Holy Grail of Michael
Jordan memorabilia' was valued at $135,000 back in 2020, when a non-celebrity car
was worth around half that.
Muhammad Ali's 1970 Rolls-Royce
Silver Shadow convertible sold for €132,250 ($142,942.07), and his 1976 Alfa Romeo Spider for
$23,100, a combination of which put
him in a strong third place. Second was Tiger Woods, with a TGR EXP
customised golf buggy that sold for $16,500, double its standard price.
Out in front, however, is Diego
Maradona, who sold his 1992 Porsche 911 Carrera 2 'Turbo
Look' cabriolet back in 2021 for €483,000 ($522049.29), more than four times Hagerty's
normal value. Add in the sale of his 1980 Mercedes-Benz 450SLC,
which bid to €150,000 ($162,127.11),
and Maradona gains an unassailable lead.
Power List creator and Hagerty UK Price Guide editor,
John Mayhead, said, "Hagerty
monitors a huge amount of enthusiast car market data every week,
and often we see record prices achieved throughout the year. Of
course, the rarity and condition of the car counts for a lot, but
The Power List shows just how much celebrity ownership can add to
the value of a car and can push the values way beyond what a
standard car might achieve."
As mentioned above, pure racing cars were exempt from the list,
as the added value created by the driver can be differentiated by
its racing success, and advertised values of cars are no longer
accepted as a true value, unless Hagerty knows for certain what it
sold for. This new ruling resulted in a few big hitters from last
year slipping off the ranking.
The full 2023 Power List can be read here
About Hagerty, Inc. (NYSE: HGTY)
Hagerty is an
automotive lifestyle brand committed to saving driving and fueling
car culture for future generations. The company is a leading
provider of specialty vehicle insurance, expert car valuation data
and insights, live and digital car auction services, immersive
events and automotive entertainment custom made for the 67 million
Americans who self-describe as car enthusiasts. Hagerty also
operates in Canada and the UK and
is home to Hagerty Drivers Club, a community of nearly 800,000 who
can't get enough of cars. As a purpose-driven organization, Hagerty
Impact aims to be a catalyst for positive change across the issues
that matter most to our teams, our members, the broader automotive
community, our shareholders and the planet at large. For more
information, please visit www.hagerty.com or connect with us on
Facebook, Instagram, Twitter and LinkedIn.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/hagerty-launches-2023-power-list-highlights-the-dramatic-effect-celebrity-ownership-has-on-enthusiast-car-values-301914298.html
SOURCE Hagerty