Classic Car Collectors Suffer Big Blow from Sandy

Classic Car Collectors Suffer Big Blow from Sandy

Hurricane Sandy was the most devastating blow to classic car collecting ever according to Hagerty Insurance.

Hagerty, a firm which specializes in classic and collector cars, estimates between 8,000 and 10,000 classic cars were affected by the storm. Among other things, that means pricing for collector cars is likely to shoot up, at least in the short term.

Despite that, car collectors still seem to have as voracious an appetite as ever for the hobby. Hagerty said in a blog post that they’ve  “talked to countless individuals who have been powering their PCs from portable generators and are already doing what so many of us do under far more normal circumstances — trolling Craigslist and eBay looking for cars.”

With the Barrett-Jackson auction in Scottsdale, Ariz. a little more than a month away, evidence of that demand might make the event especially competitive.

There could also be other side effects from the storm. Hagerty predicts that many owners with damaged vehicles will salvage and sell what parts they can from their cars — something owners with undamaged vehicles might benefit from.

Still, it’s just as important to remember that floods ruin cars and leave use listings the subject of much deserved scrutiny. Corvettes, Mustangs and Camaros were the hardest hit.