Bull Market Performance: Which Engine Powers the Best Returns?
Each December, we put together the Hagerty Bull Market List, our annual selection of the collector-car hobby’s movers and shakers. Basically, it’s a group of 10 or so cars (with the occasional truck and motorcycle thrown in) that the data tells us are poised to grow in value over the next 12 months. This isn’t investment advice per se—rather, an opportunity to point out that, with some due diligence and a smidge of luck, you can experience the joys of the collector-car hobby and maybe get your money back or a bit more when it’s time to sell.
The 2025 group we’ll reveal on December 9 will be the eighth list, so we’ve had plenty of time (and opportunity) to check how our predictive powers panned out.
Hagerty’s annual Bull Market list looks at how vehicles perform in the market, but what if their market performance is related to how a vehicle performs on the road? We’re just about to announce our eighth Bull Market list, which means we have 72 vehicles from the prior seven lists with at least one year of market returns to evaluate. Those 72 vehicles were powered by engines ranging from two cylinders to 12 and arranged inline, a V, or horizontally. There’s even a rotary and an EV. So, when looking at the Bull Market picks organized by their engine, how do the different engine configurations perform in the market?
Not surprisingly, the V-8 is the most common engine configuration among our past picks, with 28 appearances. The average annual return for those V-8-powered picks is 5.7 percent, a bit below average. The average starting value of $64,520 is also below average, so the picks with a V-8 match that engine configuration’s best characteristics of affordable and reliable performance. The best-performing V-8-powered pick is the 1984-93 Ford Mustang Saleen from the 2019 list with a 21.0 perent annualized return.
The second most common form is the inline four-cylinder, which powered 10 of our picks. The 11.1 percent average annualized return is also tied for the best performance, with that of the V-10. However, the average starting value of $26,020 for the four is also the lowest. Even though the inline-four is not necessarily the most charismatic engine, it still produces outsized market returns. The best return for an inline four-cylinder car is the 1981-93 Volvo 240 Wagon from the 2022 list, with an annualized return of 36.0 percent.
Two of the least common engines among our past picks are the electric motor in the 2008-11 Tesla Roadster and the rotary in the 1979-Mazda RX-7, both of which were in the 2022 list. While the EV has lost 1.9 percent of its value since it was picked, the rotary is up 9.1 percent. The inline three-cylinder turbo in the 1991-98 Suzuki Cappuccino, meanwhile, is also up a strong 11.4 percent.
The most valuable engine configuration is the V-12, and the five past picks with that engine have an average starting value of $269,394. Despite that high initial value, the average return of 9.8 percent is better than most. The best-performing V-12 is the 180-degree V of the 1985-91 Ferrari Testarossa from the 2021 list, with an annualized return of 18.0 percent.
What is your ideal engine configuration for market performance? The reliable and affordable V-8? The overlooked but poised-for-performance four-banger? Or something else? Tell us in the comments below.
Technical comment: A 180 degree engine would be a flat “boxer”, not a V. I apologize for revealing my insufferable engineering background. 😉
Good catch!
I myself am a correction curmudgeon.
Mikey, my engineering background half agrees with you… A 180 degree configuration is definitely a flat 12 in my book, but not necessarily a “boxer”.
(On something like the VW beetle or Porsche flat 4 “boxer” the 180 degree crankpin offsets make the pistons mimic a boxer’s “one-two” punch. You can also stagger the crankpins on a flat engine at other offsets like most V-8’s do… then the flat engine piston movements no longer mimic a boxer’s punches. )
would a “flat crank” V8 class as a 180 degree V8?
No… “Flat crank” refers to the 180 degree orientation of the rod journals on the crank shaft. The cylinders are still arranged in a 90 degree V formation.
Ditto. Jumped right out. Boxer or not, 180 degrees has no “V” to it. That would be a “__” or a “|”. 🙂
But as we all know you can have a V configuration with a 180* crankshaft making it a flat plane motor .
Thanks, Mikey- I thought I was having a stroke there for a minute. Flat (horizontally opposed) engines cannot be considered “v”s of 180° because the definition of a “v” is an angle in a line measuring greater or less that 180°- 180° being the angular measure of a line.
I’ma thinkin’, and my head hurts.😋
Hello all, first off, as many have, I’ll disclose my education as less than high school drop out with a degree in the school of hard knocks.
Feel free to correct me but it is my understanding that the boxer and the 180 degree engines are both flat engines and the difference is in the crank and piston movement.
The 180 engine has opposing pistons that share a common crankpin so that each pair of opposing pistons move inward and outward opposite of each other (one moves in, the other moves out).
The boxer also has opposing pistons but they do not have a common crankpin, in fact they have separate crankpins that move the opposing pistons inward and outward at the same time.
My observation over the years is that a 350 car is worth less than a 327 car, and a 427 car is worth less than a 454 car, even though a 350 and 454 are both superior. Discuss amongst yourselves.
Depends what it is in. The 327 and 427 can we worth a ton if they are in the right car with the right HP. But 325 HP 327 and L88 427 are limited in number.
The 454 and 350 high HP were mostly 1970 cars that bring big money so they get the most attention with the LT1 and LS6 and LS7.
It is all about the wraper the engine is in.
How about the 366 in the C-60 grain truck or the 478 GMC V-6? Snarkiness intended. I actually prefer oddballs like Pontiac OHC 6.
I had a1968 Firebird with the”Sprint” option.
Grenaded three of them under warranty. 🙁
I place the blame on the rubber band camshaft belt. Pre Kevlar.
A 289 is worth more than a 302 , unless it’s a Boss 302 .A FE 427 is worth more than a 428 or 429 unless it’s a Boss 429 , which is worth less than a 427 TP and a lot less than the best big block ever made the 427 SOHC .
Ford’s 427 SOHC is not a “big” block. It is an FE block – – there is NO automobile industry standard for defining a big or small block V8 engines – NONE.
V8’s 101:
When Chevrolet added their W Series V8’s (348, then 409 and 427) to their first generation 265 and 283 V8 production, Chevrolet fans came up with the big and small block terms to describe which series or V8 they were discussing.
Ford never used the small or big block terms until much later, when their use became generic across all brand names.
Ford 1932-1953 V8’s were called Flatheads, even though many other engines were valve in block designs, and had “flat” heads
None of Ford’s V8’s were called big or small blocks, even after the Flathead:
GAA
Lincoln Y-block
Y-block
MEL
FE
Superduty
Windsor
385
335
Where does the Cleveland fit in
Having owned both, the 327 is smoother and revs fast. In comparison the 350 is tractor engine rough!!! Granted the 350 has bigger bearings and other improvements and creates a lot of torque, but the geometry of the long stroke and short rods is NOT smooth. Of course the best setup is the high revving Z/28 302, a 350 bore with a short stroke crank. Just me.
Isn’t the 302 a 327 bore with a 283 stroke? Am I recalling correctly?
Yes.
Mikey- appealing to your insufferable engineering background. From my understanding Ferrari referred to it as a 180 degree V because the opposing pistons were at top center at opposite times, top/bottom. Where, for some reason, technically it’s only considered a proper boxer layout if they are in unison. To make things more complicated they still used the term ‘boxster’ on some models anyway even when they were 180 V’s.
I used to quiz car guys by saying I had two new,1984 US spec sport coupes, neither were 4,6,8 cylinders. What might they have been?
If you could come up with a 5 cylinder Audi GT and a Mazda RX-7 GSL-SE you knew my stuff. Enjoyable cars, hardly investments.
I’ve owned cars with an flat 4, flat 4 turbo, inline 4, inline 4 turbo, inline 6 turbo, V6 and V8 and one FWD, 5 AWD and 4 RWD so I have had a decent variety to play with. All my current cars are RWD but my V8 and Inline 6 ones are my favorite.
My engineering knowledge on the subject of Mikey’s, Mike’s, and Paul’s posts above is LESS than flat – if that’s technically possible!
Clare- If I’m reading you right, no. A V8 (or any V engine configuration ) refers to the opposing cylinders being at an angle to each other . The Ferrari 180 V is one that at first you think of in common terms- ‘ 180 degree V ? Isn’t that just a straight line? ‘ However it really would be more like two joined line segments. Think of a watch with hands at 3 and 9. I kind of think that maybe Ferrari used the 180 V designation as a bit of clever marketing as well. Worked well enough to get the better of my curiosity sometime ago. Or are you just trying to confuse me more than I already am?
Most V-8’s are 90deg! Lincoln made some 60deg. back in the 20’s So aren’t they all called a 90deg. V-8??
Ford flathead V8’s were flat plane 60* engines .
Another oddball is the Ford/Yamaha SHO 3.4L V8, which is 60 degrees.
I’m thinking this “valuation” thing is being hyped and traded like Wall Street. I see these cars being transformed into the status of rare coins, stamps, rare wines, etc. Prices seem ridiculous but follow the “greater fool” theory.
But, hey, if that is what SOME people will pay, then that IS their value. Sure makes for good business for the insurance companies, dealers, restoration & parts suppliers, and the state sales tax collectors!
I’m with you 100% on that Captain Gort
Being a “greater fool” myself and a sports card collector/trader/investor I know all too well about market fluctuations and prices being dictated by what the last person spent on a piece of cardboard lol
What about 426 hemi is that worth more
LOL – you beat me to it
Where is the 426 HEMI? Seems like that would be top of list regardless of wrapper that its in – no?
Flip – ” Cross Plane “
(ps) the term ‘cross plane’ is applied to 90 degree crankshaft , most common , engines because when viewed from the front/rear the crank journals (pins) cause a cross shape. Red Cross not Christian.