The phrase “collector car” calls to mind a few timeless vehicles, your Jaguar E-Types and Mercedes-Benz 300SL Gullwings and Porsche 356s. But what if we told you the hottest new collectible vehicle of 2023 is going to be not an old-school sports car, but a military-grade studio apartment on wheels from the ‘90s?
You better believe it, because the Hummer H1 is featured on Hagerty’s annual Bull Market List for 2023, a collection of 11 “enthusiast cars and vehicles with the best potential to hold or increase in value in the coming year,” according to data collected by the classic car insurance and automotive lifestyle company.
“Each of the vehicles included in Bull Market are chosen based on indicators we see in the public market and on insurance and valuation inquiries we receive,” Brian Rabold, vice president of automotive intelligence at Hagerty, told InsideHook in a statement. “The Hummer in particular is being adopted by a younger, growing demographic of collectors whom we expect to continue buying the model.”
While Gen Xers own over half of all Hummer H1s using Hagerty’s insurance, the company notes that Millennial “quotes are up to almost a third, which has doubled since 2020.” Is there something that happened that year that may have piqued that generation’s interest in this military-grade SUV from AM General? Oh yeah, that’s when GM announced the new Hummer EV.
“Revival of the Hummer nameplate will also likely raise awareness of the original model,” Rabold added. “Like any enthusiast vehicle, it has its quirks that make it unique. The H1 lacks creature comforts and efficiency, which could be a hindrance for a lot of buyers, but for a whole host of enthusiasts, its off-road capabilities and unmistakable presence are worth the trade-off.”
Meet the Shop Reviving Hummer’s Reputation With Custom H1s
Should you give three 20-somethings $200K to build you a custom Hummer?The interest in the Hummer H1, which was built between 1992 and 2006 and based on AM General’s military Humvee, is no doubt an extension of the growing, nostalgia-fueled interest in ‘80s and ‘90s SUVs in general. But is it also a backlash to the tech-laden vehicles of today, wherein those interested in rough-and-ready off-roaders are more enticed by vehicles they can fix themselves than those that are stuffed with computers and screens? Possibly. But also consider that order books for the electric Hummer have been filling up quickly, and the price point for the first edition of that brand new truck and SUV ($110,000) is smack dab in the same range Hagerty expects Hummer H1s to cost when they’re in what the company calls “Excellent” condition ($105,000 to $127,300). It appears Hummers are hot, whether we’re talking EVs or gas guzzlers (well, maybe not the H2).
If $100,000 is too rich for your blood, Hagerty’s Bull Market List (which we’ve covered previously in 2021 and 2020) isn’t entirely six-figure options. There’s a big range, whether you’re looking to grab one before prices get out of control or you own one of these and might be interested in offloading it later in 2023…
- 1992–2006 AM General Hummer H1 ($105,000–$127,300)
- 1968–1970 AMC AMX ($30,500–$40,600)
- 2008–2015 Audi R8, Manual ($154,000–$186,700)
- 2001–2004 Chevrolet Corvette Z06 ($31,400–$39,300)
- 1936–1947 Harley-Davidson Knucklehead ($90,300–$115,000)
- 2001–2010 Lamborghini Murciélago ($302,700–$342,700)
- 2004–2010 Mercedes-Benz SLR McLaren ($329,300–$380,700)
- 2003–2008 Nissan 350Z ($37,500–$44,900)
- 1985–1993 Saab 900 Turbo ($22,200–$25,800)
- 1991–1998 Suzuki Cappuccino ($12,200–$16,700)
- 1984–1988 Toyota Pickup 4×4 ($20,700–$26,700)
Read the full explanation for Hagerty’s findings over on their website.
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