Yes, mileage makes a HUGE difference in values, amazing they don’t factor that in.
Agreed.
I do believe that Hagerty provides four classifications in their current value estimates, numbered #1 Concours, #2 Excellent, #3 Good, and #4 Fair. They provide a description of what in their opinion, classifies a vehicle. Mileage is not specifically mentioned, but it could (or could not) be implied or interpreted in each of the conditions.
The info below is shared directly from their website, under the section "CLASSIFYING A VEHICLE"
"Correctly classifying a vehicle’s condition is paramount when using Hagerty Valuation Tools®. Our pricing is unique in that we publish Hagerty Price Guide’s prices, and Hagerty Price Guide strives to provide a value for “true” #1 vehicles; these values are often far and away more expensive than identical vehicles in lesser condition. It is estimated that more than 80% of vehicles in the market are either condition #3 or #4, so make sure you are confident in the ascribed condition. Many sellers overrate the condition; overeager buyers tend to do the same for potential purchases.
In addition to a vehicle’s condition, other factors can influence a price. Particularly, number of owners, originality, and documentation to support build claims or restoration work can all greatly effect a vehicle’s value. Note that the addition of factory options can greatly impact the vehicle’s value, so pay attention to any pricing notes that are listed in the “Vehicle Value Details” section of the “Value Your vehicle” tab of the site.
Lastly, use Hagerty Valuation Tools® as a guide, not the Gospel. Use the information presented here to gain a deeper understanding of the market, apply your senses to what you learn, and consult with experts in the field before making any buying or selling decisions."
Condition Ratings
#1 vehicles are the best in the world. The visual image is of the best vehicle, in the right colors, driving onto the lawn at the finest concours. Perfectly clean, the vehicle has been groomed down to the tire treads. Painted and chromed surfaces are mirror-like. Dust and dirt are banned, and materials used are correct and superbly fitted. The one word description for #1 vehicles is "concours."
#2 vehicles could win a local or regional show. They can be former #1 vehicles that have been driven or have aged. Seasoned observers will have to look closely for flaws, but will be able to find some not seen by the general public. The paint, chrome, glass and finishes will all appear as excellent. No excessive smoke will be seen on startup, no unusual noises will emanate from the engine. The vehicle will drive as a new vehicle of its era would. The one word description for #2 vehicles is "excellent."
#3 vehicles could possess some, but not all of the issues of a #4 vehicle, but they will be balanced by other factors such as a fresh paint job or a new, correct interior where applicable. #3 vehicles drive and run well, but might have some incorrect parts. These vehicles are not used for daily transportation but are ready for a long tour without excuses, and the casual passerby will not find any visual flaws. "Good" is the one word description of a #3 vehicle.
#4 vehicles are daily drivers, with flaws visible to the naked eye. The chrome might have pitting or scratches, the windshield might be chipped. Paintwork is imperfect, and perhaps the body has a minor dent. Split seams or a cracked dash, where applicable, might be present. No major parts are missing, but the wheels could differ from the originals, or other non- stock additions might be present. A #4 vehicle can also be a deteriorated restoration. "Fair" is the one word that describes a #4 vehicle.
www.hagerty.com
