• The McLaren F1 is still highly sought after by collectors. Picture: NEWSPRESS UK

  • The Mercedes 300SL roadster continues to top the value log. Picture: NEWSPRESS UK

  • The Ferrari 250GT SWB is the highest placed Ferrari in the overall index. Picture: NEWSPRESS UK

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THIS year has already seen a number of high profile classic cars achieve record figures in both auctions and private sales. One of the highlights was definitely the sale in Paris last month of a 1957 Ferrari 335 S Scaglietti for a record €32,075,200.

In spite of some headline grabbing sales, the overall classic car market is actually down slightly. February saw the Historic Automobile Group Index (Hagi) Top 50 decline by 0.32% month on month. It added to a decline for 2016 so far of 2.81%.

While the year might not have started as spectacularly for the market as previous years, the 12-month index is still showing positive growth of 11.81% while the three-year figure is 75.52%.

Once again the highest appreciating model is the Mercedes 300SL roadster (W198 II) which boasts an overall index weight of 6.7%. It is closely followed by the Ferrari 250GT short wheelbase coupe. The Ferrari F40 completes the top three with the McLaren F1 in fourth. The Ferrari 246 Dino, a vehicle we are watching closely as plans for a new Dino continue to emerge, is in fifth. The highest Porsche in the overall index is the 2004-2006 Carrera GT.

The Historic Automobile Group runs a number of indices to gauge various elements of the market. Many are single make indices such as the one for Porsche which was down 5.04% in February, and that of Ferrari which declined a marginal 0.99% for the month.

Those in the market for a classic Porsche will recognise some of the most famous models in motoring history. The Porsche index is topped by the Carrera GT, but beneath it models such as the 911 2.7 RS Touring and 959 continue to retain high values.

Many watch the index that excludes both Porsche and Ferrari though, to gain insight into which other models and marques are doing well in the global classic car marketplace.

Interestingly, this index actually gained in February, up 1.6%, but it remains down 3.53% for the year to date.

In this index it is again the Mercedes SL that sits on top, with its coupe sibling in third behind the McLaren F1. Other models worth watching though are the Ford GT40 Mk1, the Aston Martin DB5 coupe, Alfa Romeo 6C 1750 S/GS Z and the original AC/Shelby Cobra.

Two of our favourite cars also feature in this index in the form of the BMW 507 and Lamborghini Miura SV.