August 10, 2022

Hagerty launches digital classifieds platform for classic and collectible vehicles

Hagerty has added a digital classifieds platform for classic vehicles to its Hagerty Drivers Club. // Courtesy of Hagerty

Hagerty Inc., the Traverse City-based automotive lifestyle brand and a leading provider of specialty insurance for automotive enthusiasts, today announced a new digital classifieds platform where Hagerty members Drivers Club (HDC) can buy and sell collectible and exotic cars, trucks and motorcycles. .

The platform is Hagerty’s first foray into the peer-to-peer transaction segment of the collector car market, estimated to have approximately 43 million insurable vehicles nationwide. In 2021, Hagerty policyholders bought or sold about 280,000 classic cars, worth $9.5 billion.

“Hagerty Classifieds aims to provide our members with a safe, secure and easy way to buy and sell vehicles,” says McKeel Hagerty, CEO of Hagerty. “It’s also about doubling down on our commitment as a company to preserving driving and motoring culture for future generations, in this case tapping into a growing industry market.”

HDC members can list vehicles for sale at no cost on the classifieds platform, which features an integrated messaging and offer system, no buyer fees, and wide reach through Hagerty’s ecosystem of millions of collectors and enthusiasts. Hagerty has over 727,000 paying members in HDC, the ultimate community for car enthusiasts offering expert support, VIP experiences and award-winning original automotive media content.

“In just six weeks, the site has attracted nearly 1,000 vehicle listings, including 1915 to 2016 cars with prices ranging from $1,000 to $600,000 and we are seeing more advance sales than expected,” says Kenneth Ahn, President of Marketplace. “In a market where private sale transactions outpace auction transactions by approximately a 10 to 1 ratio or more in value and volume, our classifieds platform aims to connect enthusiasts with their next dream car, in large scale.”

Hagerty Marketplace also includes Hagerty Valuation Tools, which offers over 15 years of pricing for 40,000 enthusiast cars, trucks, vans and motorcycles from post-war to present, and the DriveShare enthusiast car-sharing platform. Updates to the Marketplace classifieds platform and new product launches are expected later this year.