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topdog1961

Muscle car values?

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topdog1961

I saw one of those teaser links at the bottom of a news site the other day.  You know the type, for example they have a pic of a young cheerleader and say “wardrobe failure gave the audience more than they bargained for.”  This one showed a 60’s Chevy muscle car and said “Soon to be worthless, values plummeting……”  I never click on those links for fear of viruses, or a deluge of pop ups, but that got me to pondering on my own about the future value of classic cars.  

 

These muscle cars were offered for only a few years and were drooled over by about two generations.  Most couldn’t afford them when young, but as they got older and some became prosperous, they wanted to buy the dream car of their youth.  Couple that with reduced supply due to the passage of time, and prices for classic muscle cars went through the roof.  But what happens in the future when those couple generations begin to pass a way?  Current sports cars will blow the doors of the classics, and some electric cars can go 0-60 in about 2 seconds.   And younger generations no longer lust for cars, many prefer to Uber. And with every younger person wanting a green future, will they care about these old gas burners?  

 

For example, my BIL is in his upper 70 and has been a muscle car fan his whole life, especially Vettes.  He has had his current Vette the longest, a cherry 66 big block convertible.  It’s all original and has had a high end frame off restoration and wins many best of show awards.  Cars like it go for well over six figures.  He told me he plans on leaving it to his child, or now adult grandchild, that appreciates it the most, and will keep it and take the best care of it. But in the same breath he complains that none of them show any interest in it. 

 

What’s your opinion on the future of muscle car values in a world where the 60s is ancient history and transportation is a few taps away. Will anyone care about old cars? 

 

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kgb

We'll always have gearheads and they'll always form clubs, a percentage of modern gearheads will always think the old stuff is neat, too.  Rarity should keep prices up on the original cars, maybe some of the "tribute" or clone builds will become less common especially as source vehicles/parts donors fade.  

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canvasback

My sense of it is that, like a number of other "collectibles" only the very best will continue to appreciate and command high dollar values as the boomers die off. The rest will not be valued as a real collectible (never were because condition and provenance weren't good enough) as slowly the market will decline.

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chilly460

Agree with most said, the truly rare/desirable Grade 1 cars will continue to be bought up by speculators and value will remain.  The "normal" cars will fall a bit, I suspect, same as Model A's plummeted when the population that owned them died off.  

 

What I do think we'll see is more and more modern engine swaps so that the cars can retain the character of this older cars is retained, but with the performance and reliability of modern drivelines.  This isn't conjecture, already happening in large volume with LS1, Coyote, and modern Hemi swaps going in older chassis.   

 

I will say, musclecars will retain value longer than most because of the void of decent cars in the 70s and 80s (and most of the 90s) where musclecars were still popular, they have more generations that were interested in them.  Not to mention, the overseas market,  Sweden (amongst others)is a big classic american car market (they seem to prefer our big luxobarges to musclecars though).  

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PaFlyfisher

Custom hot rods, of which there are probably tens of thousands or more, each made to one person's taste, will plummet in value. Common muscle and pony cars, the Camaros, Mustangs, Chevelle's, GTOs, etc, will plummet in value. This has happened with a number of other collectibles. My generation doesn't want to collect antiques, sets of china and nice siverware, etc. Partly this is also a matter of taste, those of us with the means will collect the cars we remember from our own youth. Partly this is due to economics, many of us aren't as well off as the boomers, and are saddled with student debt, this makes owning a classic car a difficult proposition. Where does one keep it? How to maintain it? etc. 

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Windrider

I will take advantage of plummeting prices.

 

Sign me up for my favorite.  1970 Chevelle 454 SS

I’d take an AMX Javelin in a pinch

 

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Dogwood
9 hours ago, Bede said:

Custom hot rods, of which there are probably tens of thousands or more, each made to one person's taste, will plummet in value. Common muscle and pony cars, the Camaros, Mustangs, Chevelle's, GTOs, etc, will plummet in value. This has happened with a number of other collectibles. My generation doesn't want to collect antiques, sets of china and nice siverware, etc. Partly this is also a matter of taste, those of us with the means will collect the cars we remember from our own youth. Partly this is due to economics, many of us aren't as well off as the boomers, and are saddled with student debt, this makes owning a classic car a difficult proposition. Where does one keep it? How to maintain it? etc. 

 

I couldn't agree more.  I watch these boomers on tv auctions bidding up these muscle cars to outrageous prices and just shake my head.  Dana Mecum laughing all the way to the bank. . . 

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DonT

We will see, I have been discussing this with my car guys friends for at least 30 years.   But for now I will hold off buying that 1970 SS 454 LS6 Chevelle for $150K even if it's a steal at that price.  My personal thoughts mimic what has been said and  I'll add that the new gen prefers Japanese tuner cars for one.  It's also a cost issue a decent, not perfect or tier 1 muscle car is $25K and up, it's not easy to get into this game.   

 

I just started to think about selling my muscle car that I have owned for around 30 years and in that time values have increased.   The reason- purchased a new BMW M4 convertible manual trans, this car is fast, comfortable and I can drive it anywhere.  While not the same as my punch and steer super charged Camaro the new hot rods are a lot of fun.   I will miss the Camaro, maybe a lot.  

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Flush

 I highly doubt prices will "plummet" at least any time soon. I'm 44 and the cars of my youth (late 70's and through the 80s) were for the most part junk. A lot of my generation also prized the older muscle cars but they have almost always been too expensive. I suspect once the baby boomers go and my generation is nearer to retirement age a lot of those muscle cars will trade hands to my generation. I just don't see values plummeting, the rise in value will very likely lessen, and maybe prices will even drop some, but I highly doubt a plummet is in the "near" 10-20 year future.

 

I hope I'm wrong though and then I can afford one. 

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UplandHntr

Cuba will always have old cars

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Lurch

If you buy from the little old lady down the street, they can appreciate. Especially if it's stock.

If you buy from Meecum/Barrett-Jackson/Cruise/etc at those inflated prices, unless it's a very rare one, I don't see it happening.

 

It's not quite the same, but look at the motorcycle industry - Harleys that were going for $25k are now a dime a dozen for around $10k. And the super-custom ones that folks paid $40-60k for are going for even less, some with the training wheels still on.

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