Hagerty.com

Why are these desirable collector cars cooling down?


#1

Great cars sometimes dip to the bottom of the market, and many familiar models continue to drag behind. But there are some new additions to the Hagerty Vehicle Rating Bottom 25 that are rather shocking, at least at first glance. Mid-year Corvettes, arguably the best-looking classic Corvette and one of the best uses of side pipes in the history of the automobile, aren’t tracking so well compared to the rest of thing market. Add in some brawny muscle cars, big American cruisers, and classic German luxury. How did it end up this way?


This is a companion discussion topic for the original entry at https://www.hagerty.com/articles-videos/articles/2018/10/17/why-are-these-desirable-collector-cars-cooling-down

#2

I’d like to suggest that these cars have slowed down because they were increasing in value at an unrealistically rapid rate. This slowdown is just a correction to bring them back into line with the rest of the market.


#3

When are you going to do a story about the 2001-2002 Mercedes CLK55 AMG? Only about 2,300 made worldwide in both couple and convertible form. These will become collectible like the first generation M3!


#4

Gee I must be the biggest looser here. I own a 1969 Shelby GT350 Fastback and a 1966 Corvette convertible with virtually all the factory options. Both cars have won a bunch of awards at local car shows; and I get asked all the time if I’m interested in selling. So I have to assume the interest is there.
As for the 1969 GT350, it isn’t like there are lots out there. Only 935 fastbacks and 194 Convertibles were sold in 1969; so it stands to reason there aren’t many being sold or auctioned. And when they do; they are prominently advertised in auction ads and catalogs


#5

@avideo2015 You own a Shelby so I I don’t think you’re losing out much… Markets heat, markets cool just like any investment. But that doesn’t negate cool favor or collectibility, just means market activity is low. I doubt it’ll take long for it to bounce back.


#6

Watching Barret Jackson recently I could not believe how low some of the cars were selling for.
Cars that would have brought $100,000 five years ago going in the $30’s and 40’s now. It seems the whole market is down now.


#7

Interesting. I am entering the Corvette world after 45 years dealing with “A” Body GM cars. First, Corvette owners ADD the 100K+ restoration costs to the asking/retail price of the car. This was a shock. Muscle cars USUALLY bring about 1/2 of the resto cost unless they are COPOs or some very special car. I just don’t get the Corvette pricing thing–there are 15 pages of 6-figure Corvettes listed on Hemmings right now–SIX PAGES! Most dealers have mostly 6-figure cars or almost there for sale. I have been looking and studying the past year or so and auction prices NEVER reflect dealer or private prices–either the car runs about 30-40K–normal for a typical muscle car–or it is over the top and gets to 6-figures. Mostly resto-mods and super rare ones in that range. I don’t get why people list for so much unless they really don’t want to sell the car but just want to see if someone with $$ happens to see it by accident. I never see any of these listed cars sell; they just keep relisting them. I would agree that a price correction is needed in this brand.


#8

Try and find a decent 1967 GT350. That is a hard car to find. If supply and demand is to be taken into consideration it certainly is holding it’s own.


#9

Hagerty has it partly right on why demand is going down. The latest generation of car buyers do not want old cars no matter how cool they might be. The old guys like us are at the point of thinning the collection. The younger buyers want newer cars.


#10

The traditional muscle car market in general has been low compared to its peak 10 years ago but looking outside that segment, trucks, later model performance cars and Japanese sports cars have been doing extremely well. @rhdmgman, I think you’re mostly right, the focus is shifting to newer stuff but data suggests that Gen-Xers and Millennials aren’t totally abandoning the older stuff.


#11

Perhaps it’s a leading economic indicator of the upcoming depression so many have predicted.


#12

People tend to buy the cars of their childhood memories. Most millennials don’t know or remember these cars. Perhaps you should have kept that old Corrola after all.

$100,000 Toyota? Who’d a thunk it?


#13

RHDMGMAN hit it right on the head. I collected English Double Rifles since 1971. The values are tanking the same way as the young people have no interest and the old collectors are liquidating their collections. Talking to the big auction houses, they do not think the values will come back!The REALLY rare stuff is still holding value in most cases. The same guns have been for sale on the internet sites it seams like for years. I sold a 1967 Jaguar XKE roadster years ago, now they are in the bottom 25!


#14

The 80s and 90s will be the new 50s and 60s in a few years. As people of that generation earn more disposable income, those prices will rise. (Generation X)


#15

Thanks to auctions, these cars are now priced out of reach by most enthusiasts.
Gone are the days of finding desireable cars in the junk yards, swapping pink slips, or selling to your friend.
They are now a stock market- like commodity and subject to the same volitility. Owned to make money, not driven and enjoyed.


#16

I’ve never purchased a car as an investment and only hoped that when i got ready to sell it that I’d recoup most of my money back. That being said, I’ve been wanting an E-type for a long time but prices have been climbing, so if they come down in price, I’m not complaining. I’d love to own the car for the fun of driving it.


#17

I believe the reason older cars don’t have as much action is twofold. First is it true that people like the cars from their youth. So the buyers today went cars from the 70s 80s or 90s not the 30s 40s 50s and 60s. Secondly it is also true that auctions have created a Speculative market to some degree. In the past it was only with the Ferraris and other exotic cars. Recently it has been in more pedestrian vehicles. And in speculative markets timing is everything


#18

Hey there. I have a 69 E-Type 2 seat coupe fully restored about 10 years ago. Numbers matching.
Green with black leather/suede interior. Let me know if you are interested
Hiten@qacollision.com


#19

This article reminds me of the late 80’s, when pre-WW2 cars took a price tumble. The WW2 generation started to die off, or sell as they got older. Widows were shocked at the auctions, that their husbands cars weren’t worth what their husbands had told them. Prices plummeted, with the possible exception of the top tier coach-built cars. The price drop was exacerbated by a recession. It was the case back then, that we baby boomers started making money,and we wanted the stuff we dreamed of as kids, 50’s , 60’s cars. We also wanted cars we could drive in modern traffic, such as muscle cars, Vettes, E-types etc. The next generation is coming up and buying popular cars from their formative years. My 29 year old is into RX-7’s while my young-ish neighbor has a Supra Turbo. Fortunately, my daughters want my E-type. Hopefully they will have to wait a very long time to fight over it.


#20

I see some broad groupings here that don’t reflect the same demand.

A 65 Shelby GT350, different league vs 68-70.

70-71 Challengers are way more desired than 72-74, not the same. 68-69, maybe 70 GTOs vs 71-72 similar difference in popularity.