Many exclusive classic cars from Mercedes-Benz are among the world’s most valuable vehicles. The Mercedes-Benz Classic Index (MBCI) of the Historic Automobile Group International (HAGI) maps the market development. Here is the latest commentary on the performance of the MBCI in June 2013.
MBCI Performance in May 2013: −0.02 points (−0.02 per cent) to an index price of 132.17. Halfway through 2013, the index is at plus 18.38 per cent, which is already significantly above the long-term annual average for the entire year. In the past 12 months, the MBCI rose by 9.96 per cent. The annual comparison is weaker because the index also recorded an interim high in June 2012.
Prices for classic Mercedes-Benz vehicles remained strong in June, however with a lower trade volume compared with the previous months April and May. This decline is not just a seasonal effect. According to many dealers, another factor is that currently there are only small numbers of high-quality vehicles available on the market. In other words: owners of good vehicles simply did not want to part with them. Cash is currently not a more attractive investment vehicle, to the contrary: sellers are looking for equivalent or better vehicles rather than cash before considering a sale.
At the same time the inventory of many dealers is very low for another reason as well: the high market prices keep some dealers from taking expensive cars on their own books. Some market players also exhibit a certain aversion to risk or caution.
One thing that is already clear is that many owners and buyers of high-quality vehicles are holding back and for the time being await the results of the major auctions in California in August.
Specifically about Mercedes-Benz vehicles: in addition to the 300 SL Roadster (W 198), which at 15.1 per cent has the highest weighting in the MBCI, the 280 SL (W 113) ranked in second place out of a total of 23 index member at 14.3 per cent in June. Slight declines in prices were recorded that same month here. Behind the 300 SL Coupé (W 198) the 190 SL (W 121) is now in fourth place at a weighting of 11.8 per cent. They are followed in fifth place by the first pre-war vehicles with the group of S models, which are listed at a weighting of 10.3 per cent.
Out of the “Emerging Classics”, a group of vehicles produced in larger numbers and with a lower price level that HAGI evaluates as a special group separate from the MBCI, the 300 SE 6.3 (W 109) attracted attention with a significant increase in price and demand.
Other key indicators and index charts can be found on the HAGI MBCI fact sheet, which can be downloaded from the HAGI website at http://www.historicautogroup.com (registration and login required).
Background of the Mercedes-Benz Classic Index (MBCI)
The HAGI indexes were first introduced in January 2009. They exist for various makes of cars and have established themselves as the global standard for determining the market value of classic vehicles. They follow the same principle as indexes of stock prices except the assets they track are high-quality classic vehicles. The Mercedes-Benz Classic Index (MBCI) was introduced in 2012 and initialised on 31 December 2011 at a value of 100. It maps the performance of 29 classic vehicles of the brand. Out of these there are 23 models that are counted among the most important classic vehicles of all.
All HAGI indexes are based on a weighting of surviving vehicles rather than purely on production figures, which for vehicles that are 30 years old or more, have little meaning. The MBCI pools more than 30,000 surviving vehicles of the Mercedes-Benz brand with a capital value of more than 4 billion British pounds (as of 2012; convertetd over 4.9 billion euros). These vehicles date between 1926 and 1995. The index takes further parameters into account to provide as precise an overall picture as possible.
Background: Historic Automobile Group International
The Historic Automobile Group International (HAGI), founded in 2007, is an independent research institute for investments and specialises in classic automobiles. The HAGI Top Index is published monthly on the websites of the Financial Times and Handelsblatt newspapers. The goal is to create market transparency and to allow market players to make sound decisions based on the provided data. HAGI operates a database that encompasses more than 100,000 real transactions. The entries start with the production date of the vehicle and are updated daily. The data come mainly from four sources: private contacts, brand experts, dealers, and auction results.