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This car from your childhood has increased in value by 58,000%

Discussion in 'Auto, Tractor, Motorcycles, Racing, and Mechanics' started by Scorpio, Mar 26, 2017.



  1. Scorpio

    Scorpio Скорпион Founding Member Board Elder Site Mgr Site Supporter ++

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    This car from your childhood has increased in value by 58,000%

    By Kari Paul
    Published: Mar 25, 2017 10:37 a.m. ET



    What makes an ordinary automobile worth millions over time


    [​IMG]

    Everett Collection
    NASH BRIDGES, 1971 Plymouth Barracuda, (Season 4), 1996-2001
    What makes a car a classic? A unique cultural formula of factors, according to vehicle valuation specialists at market research group Black Book — and if they all come together the right way, you could be making big bucks selling vehicles that were once commonplace. There’s just one catch. Well, two. It would be better if you bought it in, say, 1971. And it really helps if the car in question is still in mint condition.

    Some cars once sold for the manufacturer’s relatively affordable suggested retail prices have years later been marked up thousands, sometimes tens of thousands of percent. The 1971 Plymouth Barracuda, for example, was once purchased for an asking price of $4,296 and is now worth $2.5 million — a 58,000% increase in value over time.

    Once purchased for just $7,500, the 1967 Shelby Cobra has increased 17,000% to $1.3 million. Other models are also raking in cash in auctions around the country, the list shows, including the Cadillac Eldorado, Chevy Corvette, Pontiac Bonneville, Ford Thunderbird, and Ford Mustang GT.

    [​IMG]
    Eric Lawrence, director of specialty products at Black Book said, the percentage increase is influenced by the three Ps: popularity, pop culture and production volume. “Many people think today’s uber-expensive vehicles always came with a hefty price tag, but these vehicles show that’s clearly not the case,” he said.

    Every year since 2013 has brought record prices for classic cars—but the market is stabilizing. The prices paid for cars increased 25% in 2014 and rose by nearly 18% in both 2015 and 2016, according to the HAGI Top Index, a measure of prices paid for cars that cost more than £100,000 ($122,670). Most of the cars were sold in auctions around the world.

    But there are headwinds to the amount these cars fetch at auction. Millions of baby boomers, the natural buyers for many of these nostalgic throwbacks, are now bracing for retirement and face an uncertain health insurance landscape as the current administration revamps the existing health care law.

    There may be more offerings for wealthy Generation X buyers who are now in their late 30s and 40s, however. The kinds of cars being sold are also changing: as a new generation of buyers gets the spending power to collect their own cars, exotics from the 1980s have started to gain traction. So, hold on to your Prius, and see what it’s worth in 40 years.

    Also see:

    http://www.marketwatch.com/story/th...od-has-increased-in-value-by-58000-2017-03-22
     
  2. nickndfl

    nickndfl Midas Member Midas Member Site Supporter ++

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    Most popular cars I drove were 1965 Mustang, 1967 Satellite, 1974 Chevelle and 1978 280Z.
     
  3. TAEZZAR

    TAEZZAR LADY JUSTICE ISNT BLIND, SHES JUST AFRAID TO WATCH Midas Member Site Supporter

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    I had the first Barracuda sold in Calif. May of 1964. My first wife had a 64 Mustang.
    The 3 best cars I ever owned were, a 66 Chevy Caprice 396, 95 Lincoln MK VIII & a 99 Camaro Conv. with a vette engine.
     
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  4. JayDubya

    JayDubya Gold Chaser Platinum Bling

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    Growing up, a guy at the end of our street had a 1971 'cuda 440.

    I wasn't allowed to go that far down the street by myself, but I can remember seeing it as we drove by his house many, many times.
    It was probably somewhere in 1972 or 73 when I decided I was going to walk down there and take a look. Depending on the year, I was 9 or 10 years old and as I approached his house he was actually outside doing some yard work. I slowed to a crawl, scanning the driveway, yard, everywhere trying to catch a glimpse of his car. He saw me and asked "Can I help you?" I replied "I love your Barracuda and just wanted to see it."

    I got a half hour lecture regarding car frames, engine sizes and how a Barracuda is NOT a 'cuda.
     
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  5. glockngold

    glockngold Gold Member Gold Chaser

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    Bananacuda

     
  6. SilverCity

    SilverCity Gold Member Gold Chaser

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    My youth? Dad drove a White 1953 Buick Roadmaster. Da Bomb baby! I was five...

    SC 1953 Buick Roadmaster (Howard Hughes owned).jpg

    This particular one was owned by Howard Hughes and went at auction for $1.65 million. It was loaded with special features.
     
    Last edited: Mar 26, 2017
  7. gringott

    gringott Killed then Resurrected Midas Member Site Supporter

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    Now imagine you had a '71 GTO that you bought new for $4,070 [1971] dollars. You paid property taxes for 46 years on it, you stored it, you maintained it, for all those 46 years.

    Example, the purchase price in today's dollars
    $4,070.00 in 1971 had the same buying power as $24,689.15 in 2017
    Annual inflation over this period was about 4.00%. Today that same money doesn't buy much that would be considered special.

    I guess what I am saying is that a rare car in great shape that is almost 50 years old might be worth $225,000. Do the numbers, if you bought a real junker 1971 goat you would have to spend an awful lot of money to get it cherry.

    The really amazing thing is around here and south in Kentucky there are a butt load of classic cars like this, you go to the small towns and everybody is either driving or showing their classic car. A guy near me has a restored AMX and some 1940's Chevy restored in his driveway, for example. Both for sale. Heck, a guy who lives in a 40 year old mobile home on a real dump site has a 1969 Chevelle SS. WTF?
     
  8. SilverCity

    SilverCity Gold Member Gold Chaser

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    My dad was a rare car collector. His 1957 Mercedes-Benz 300 SC Coupe was purchased from a guy in Chicago for $15,000 and sold ten years later for $98,000. That was in late 1978. Something like 89 were ever made, 14 existed in the U.S., and one other in the state of New Mexico. Beautiful car, solidly built by hand, fuel injected.

    It looked exactly like this one which sold last year for € 498.400

    http://rmsothebys.com/pa16/paris/lots/1957-mercedes-benz-300-sc-coupe/1078435



    My father died this past Tuesday morning at age 96.

    SC
     
    Last edited: Mar 26, 2017
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  9. GOLDZILLA

    GOLDZILLA Harvurd Koleej Jeenyus Midas Member

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    That list is missing the 57 chevy bel air and the 1970 chevelle ss 454.
     
  10. Someone_else

    Someone_else Gold Member Gold Chaser

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    I think that was the model that had this in its review, "It corners like a rhinoceros on a wet clay bank."
     
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  11. SilverCity

    SilverCity Gold Member Gold Chaser

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    Dad sold it to a US airman in 1961 when we were living in Germany who crashed it off a narrow mountain road--totaling it. Da bomb, baby!

    SC
     
  12. mayhem

    mayhem Другая перспектива Silver Miner Site Supporter

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    My dad had one of those. Took Cindy Lou to the senior prom in it. Thanks for the memory.
     
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  13. latemetal

    latemetal Platinum Bling Platinum Bling

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    I had the 64 1/2 Barracuda with a slant 6, and a 68 Sport Satellite with a 318 and slapstick auto...
     
  14. <===Foolsgold

    <===Foolsgold Gold Chaser Site Supporter ++ Platinum Bling

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    A school mate was given a 1971 Barracuda with the largest engine (a 454 I think) by his Mom for a high school graduation gift. He beat the piss out of it and died not too many years later of a heroin overdose. RIP Walter.
     
  15. Someone_else

    Someone_else Gold Member Gold Chaser

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    I have never had any "desirable" car, but I remember reading the Road & Track and Car & Driver magazines pretty heavily. A high school friend had a Honda 600 and on the highway we actually got it well over 60 (after several miles). The Subaru 360 did not have a 0-60 time because they couldn't get it up to 60. I loved reading about the XKE and the (fictional?) XKEE with two 6 cylinder engines joined together and the nose extended even further.

    I read about the Lotus Europa and its racing equivalent, the 47. It was very small, very light, and had an excellent suspension (Colin Chapman). I actually saw one at a shop and asked the owner if I could sit in it. Wow, it fit like a glove! The roof was about my belt line. R&T wrote that the (front) trunk was large enough to hold several handkerchiefs and a small amount of sand. C&D wrote that the seats pinched their butts. My brother and I deduced that the C&D writers were fatter than the R&T writers.

    As I wrote before, my dad had a GTO and one time my babysitter had to take us somewhere. She drove the GTO and afterwards told my dad that it was just not that impressive. Turns out, she did not release the parking brake and drove with the brake fully engaged.
     
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  16. <SLV>

    <SLV> Gold Member Gold Chaser Site Supporter

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    Sorry for your loss.

    The 300sl gull wing cars start at $500k nowadays.

    I've wondered what cars would be good investments, and I've come up with this:

    1. Roadsters - impractical 2 seat drop tops. The cars everyone wished they could buy, but they were forced to be more practical.

    2. Manual gearbox - rowing through gears is becoming a thing of the past even on the super cars. People will be nostalgic about it.

    3. Best value is a car 15-20 years old - old enough to be out of style but not yet unusual to see on the road.

    I'm watching 1998-1999 BMW Z3 with the 2.5, the Porsche Boxster, and the Mercedes 560SL (these are already starting to tick up). I think the Z3 right now is the best investment. Pick one up in mint condition and low miles for under $10k.
     
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  17. gringott

    gringott Killed then Resurrected Midas Member Site Supporter

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    I had a 67 Lotus Europa, bought it in the late 70s. My major problem with the car was aerodynamics. The underside was pretty much sealed and no underspoilers etc. So after I had it a few weeks I was driving the tollway north toward Wisconsin, I just broke 100 mph, and a gust of wind had me make an unexpected lane change. Instead of hugging the road like my 350z it gave the car lift. It seemed to me the design made the car a kind of wing. At lower speeds it was not a problem. Of course driving around town or city, it handled like a gocart, amazing cornering. Creature comforts? Zero. No radio because there was no way you could hear one with that engine behind your head. Coolest car I have ever owned, but it was a bit of a toy. Pop out windows for example that stored in the door.
     
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