Auto News for June 21 – A Special Report
Hagerty, that claims to be the “world’s leading insurance provider for classic car owners,” is out with a list of the ten collector vehicles with the highest levels of demand and momentum. A major trend these days is toward “modern classics” from the 1980s.The top ten are:
1986–1989 Mercedes-Benz 560SL – Many buyers remember the 560SL as an aspirational car that signaled early career success for their original owners, and the average sale price in the private market is up 22% over the last 12 months. 1987 560SLs start at $46,300.
1973–1986 Jeep CJ-7 – Jeep and off-roading have long been an American fascination and the CJ-7 remains very popular in 4×4 clubs. The special edition packages such as the “Limited” and “Jamboree Edition” are seeing the most interest, but any flavor can deliver open-air summer fun. Quoting activity has been particularly strong, with an increase of 120% over the past 12 months, indicating rising demand among enthusiasts. 1983 Jeep CJ-7 Laredos start at $12,900.
1973–1987 Chevrolet C/K Series Pickup – Pickups have been one of the fastest growing segments for the past five years. This is the first time this generation of Chevrolet pickup has outpaced the highly-sought-after 1967–1972 models. Ratings for this era of are being driven via the private sector, with a 9.5% increase in the number offered privately, an 11% rise in average sale price, and more than 38% selling privately doing so for amounts above their insured values. 1973 C10s start at $12,200.
1986–1992 BMW M3 – To many, the E30 M3 is the purest sports car from the 1980s. If this is a car you’ve always wanted you probably shouldn’t wait much longer as values are only going one direction. Up. Values published in Hagerty Price Guide have increased 86% over the last 8 months. 1990 M3s start at $76,100.
1982–1991 Porsche 944 – Whether younger buyers are priced out of the 911 market or just looking for something different than the norm, the 944 has recently gained a renewed following. Expect to see many nice low-mile examples come to market in the near future, with pristine Turbos selling for surprising amounts. Hagerty Price Guide values have increased 8% in value over the last 8 months. 1988 Porsche 944s start at $15,600.
1997–2002 Plymouth/Chrysler Prowler – Once described as a car better to be photographed next to, there is no denying the standout looks of one of the first modern retro cars. Prowlers have been one of the hottest cars at auction over the last 12 months, with a 9% increase in the number offered, a 6% increase in average sale price, and a strong sell-through rate of 72% over the last 12 months. 2000 Plymouth Prowlers start at $32,000.
1966–1977 Ford Bronco – Today’s SUV-dominated car culture continues to love the simple utilitarian look of the first generation Bronco. Coupled with excellent reliability and parts availability, the Bronco makes for an excellent first-time collector vehicle. Activity in the private market has been particularly strong for these stylish SUVs. 1966 Ford Broncos start at $24,800.
1994–1999 Ferrari F355 – A true performance car with a fantastic engine sound and great looks. F355 price gains have lagged other Ferrari models over the past five years, which has suddenly made them relative bargains. Hagerty Price Guide values have increased 39% over the last 12 months. The cost of ownership on these cars can be high, though. So make sure to scrutinize service records. 1997 F355 Spiders start at $68,900.
1970–1974 Dodge Challenger – Early ’70s Mopar muscle cars have had the biggest swings in values going back to 2006. After being impacted by the recession they have recovered nicely, and Dodge fans are back to searching out as many “1 of 1” variations as they can find. Challengers have been performing very well at recent auctions, with cars offered up 17% and average sale price up 41% over the last 12 months. 1970 Challengers start at $36,200.
1968–1976 BMW 2002 – This iconic BMW remains very popular, especially on both coasts. Similar to the other German cars mentioned in this list, Hagerty Price Guide values have been especially strong for 2002s, with an 18% gain over the last 8 months. 1974 2002 tii’s start at $26,800.
Don’t write off some of these selections! On a rather extraordinary test drive yesterday I saw 2 CJ7 Jeeps, a Porsche 944, (in rather touch shape,) a nicely restored red Bronco, and this area seems to be home to a lot of guys who have restored the Chevy pickups mentioned above.
Plus the BMW 2002 tii will always be in my Bucket List garage.