Among second- and early third-generation Corvettes, big-block cars tend to dominate any debate about which spec of America’s sports car is king. There are some exceptions, though: The L84 “Fuelie” in the early cars is a favorite, though the small-block Chevy that’s perhaps in the best position to fight for the prize is the 350-cubic inch mill that came with the Regular Production Option (RPO) LT1.

LT1-equipped third-generation Corvettes delivered a balanced blend of power, higher-revving personality, and handling that contrasted with the brute force of the big-block cars. Today, they remain among the most sought-after C3 Corvettes, though their prices haven’t gone through the roof.

By 1970, the Mako Shark II-concept-inspired design of the third generation was in its third year, and Chevy decided to perform some subtle stylistic updates and improvements. The fender flares were widened to reduce rock chips, while the front end got an egg-crate grille and treatment to the side vents similar to those on Bill Mitchell’s Aero Coupe styling exercise from 1969. Side markers front and rear grew in size.

Inside, high-backed seats integrated the headrest, and the Corvette was now available with a “custom interior” option that offered better touch points all around—leather seats and shift boot, woodgrain dash, and improved carpeting. This may have been appreciated, but the real cause for conversation was what was available—and not available—beneath the Corvette’s forward-tilting hood.

Before getting too far, let’s take a brief pause for clarification of references. LT1 is, as mentioned above, an RPO code. The engine it came with is commonly—though not always—referred to as the LT-1 (dash included), not to be confused with the 5.7-liter LT1 (no dash) that powered Corvettes, F-bodies, and select full-size GM cars in the ’90s. You will see the RPO and the engine designation in this piece in their appropriate circumstances.

Coming from the L88 427-cubic inch big blocks of 1967-69, and with the 450-horse, 454-cubic inch LS6 headed for use in the Chevelle, there was a good deal of anticipation for a high-output 454 in the Corvette. Chevy did intend to provide one—RPO LS7 was rated at 460 horsepower, and though early ’70 Corvette brochures did include this beast, the engine was unfortunately never put in a Corvette that was sold to the public.

That left the 390-horse LS5 454 as the only big block option for that year. In offering a massive 500 lb-ft of torque, the LS5 confidently got the job done, but was neither a wind-it-out screamer nor the outright monster that the L88 had become known as.

All this created a lot of context for the new-for-1970 LT-1. When comparing the LT-1 to the LS5 and the 270-horse engine in the base Corvette, Car and Driver in-period characterized the differences bluntly: “But those powerplants are of little interest to the Corvette purist, the man who remembers the soul and vitality of the high-winding fuel-injected 283 when it was the only street engine in the country that put out one horsepower per cubic inch. Today’s equivalent is the LT1…” High praise indeed, and truly highlighting the LT-1’s position in the lineup.

At its core, the LT-1 represented a thorough hot-rodding of Chevy’s proven small-block formula. It’s often characterized as a more hardcore version of the potent hydraulic-lifter 350-horse L46 that debuted the prior year, and the two did share a number of parts, including the same block and cylinder heads, along with the same 11.0:1 compression ratio in 1970.

The LT-1 traded those hydraulic lifters for a set of solid ones that responded to a more aggressive cam. Lighter, TRW forged aluminum pistons with revised rings were added to help put up with more abuse, while stronger connecting rods and wrist pins along with a forged, balanced crankshaft rounded out changes to the rotating assembly. Four-bolt mains held the crank to the block, and improved rod and main bearings, a gear-driven oil pump and a different oil pan design helped ensure proper lubrication. Up top, 2.02-inch intake valves and 1.60-inch exhaust valves made for freer-breathing heads over the base 350, and a Winters aluminum high-rise manifold wearing an 800-cfm Holley carburetor voraciously mixed the fuel.

The result was 370 horsepower at 6000 rpm—the LT-1 would keep pulling to a then-heady 6500 rpm—and 380 lb.-ft. of torque at 4000. Peak power was up by 20 over the L46, and it was made a full 400 rpm higher in the power band. Torque figures were the same, though again there was a 400-rpm difference in the peak. Backed by a standard four-speed manual or a more assertively-geared Muncie M-22 “rock crusher” gearbox, and optional performance gear sets, Chevy had built an engine and drivetrain that wanted to go.

And go it did, on the straights, and through the corners. Those who have driven both big- and small-block examples note that the balance of the car is markedly more even, with the small block weighing as much as 300 pounds less than the 454-powered cars. Though the big block cars wore a rear anti-sway bar to help offset their nose-heavy manners, the lighter front end of the small block-powered cars was effective in improving steering feel and overall agility.

Whether it was as easy to live with every day was a different question. The LT-1’s ability to run at higher rpms coincided with a tendency in testing to throw air conditioning compressor belts, and as a result, AC wasn’t immediately available on the model. The L46 or even the LS5 may have been the more sound, if less dynamically pleasing, choices for drivers who wanted power in everyday driving scenarios, but it was the LT-1 that pulled at the enthusiast’s heartstrings. Of the 17,316 Corvettes that would sell in 1970, 1287 were LT1s.

1971 brought about more changes, two of which weren’t good for the LT1. The first and most notable was a drop in compression to 9.0:1. That two-point drop trimmed horsepower to 330—still a solid figure, but the wrong direction nonetheless. The second was the late arrival of the LS6. Though compression neutered it somewhat to 425 horses, down 25 from its rating in the 1970 Chevelle, the LS6 still had plenty of character. “It’s like the LT1 only bigger,” beamed Car and Driver. That was a boon for the go-fast crowd, but maybe not for the future of the LT-1. The availability of a raw, rowdy LS6 with nearly 100 more horsepower, along with the LS5, which was more relaxed but still faster than the LT-1, begged the question: Did buyers really want a high-strung small block, too?

The answer to that question was mixed. Sales did improve for 1971, with 1949 buyers choosing the LT1. (It should be noted that 1970 was a short model year, with cars debuting in February, so sales figures between years aren’t truly apples to apples.) The LS5, though, sold significantly more, at 5097. Also, the L46 was no longer available, likely steering buyers who wanted more livable power over the base car to the LS5.

Those who know this era well can easily recite what’s coming next. 1972, the final year for the LT-1, GM switched its horsepower rating from gross to net, and power “went down” to 255 hp. The good news was that this was a paper number—the engine remained essentially unchanged from 1971. On the upside, Chevy figured out how to keep the AC belt from flying off the engine, so cool interior air was available as an option in ’72. Even though the power wasn’t the same as the LT-1 that wowed small-block fans in ’70, it maintained the personality that it debuted with, and a 4.11 gear swap did wonders to help wake up the performance of the later cars. That said, sales dipped to 1741 LT1s out of more than 27,000 total Corvettes.

Come 1973, the LT1 disappeared from the order form, leaving the base 200-horse L48 350, the 250-horsepower L82, and the lumbering 275-horse LS4 454 to carry on. The days of the screaming small block were done, at least for the moment.

It’s worth rewinding the tape a bit and highlighting an even more performance-oriented Corvette where the LT-1 engine found a home. Chevy had an inkling that buyers ordering a high-strung small block were a different breed, many of whom were seeking more of a sports car feel from their Corvette. So, to complement the LT-1’s personality, RPO ZR1 helped transform the rest of the car.

Possessing the LT-1 engine but going by its ZR1 RPO code, these first Corvettes to bear the ZR1 designation made the M-22 transmission standard, added an aluminum radiator, heavier-duty springs, shocks and sway bars, more powerful brakes, and a different fan shroud. Several options were unavailable on the ZR1, including air conditioning, a defroster, radio, and power steering. This truly was the hardcore option, and as you might expect, sales reflected that. Just 25 ZR1s were sold in ’70, eight in ’71, and another 20 made it out the door in 1972. It stands as the most potent and capable small-block C3 Corvette package, and among the most collectible as well.

“Looking back, the LT1 is one of the most admired Corvettes and ‘Vette engines in history,” says Don Sherman, a marque expert and regular Hagerty contributor. “There were two camps: Big block and small block. But the character built into the LT-1 would be very important for future Corvettes, and the LT-1 remains much loved to this very day for its performance and its historical impact.”

This reverence is generally reflected in the LT1’s values: Setting aside the ultra-rare ZR1, RPO LT1 commands a solid premium over the other third-gen small block-equipped Corvettes. And, among 1970 Corvettes, the LT1 is the most valuable, regardless of displacement—a #2 (excellent) condition LS5 454 is $9000 cheaper while the tamer L46 comes in 12 grand beneath the LT1. Naturally, the most potent 1970 LT1s are also the most valuable, but it’s also worth noting that solid driver-quality examples can be had for less than $40,000.

The slight premium the LT1 carries over those other ‘Vettes pales in comparison, though, to the value delta between the top-flight big blocks and the rest. Number 2 condition values for L88 cars from ’68 and ’69 come in north of $400,000, and a same-condition 1971 LS6 is valued $188,000, more than double a ’70 LT1. In that light, the LT1 delivers quite a bit of attitude per dollar.

Perhaps surprisingly, given its place in Corvette history, the LT1’s allure does not appear to have been picked up on by younger generations of enthusiasts. Boomers make up the overwhelming majority of quotes sought for LT1 Corvettes at 62 percent. Gen X and younger generations each make up shares markedly less than their overall market stakes. That said, we don’t think the LT1 will be forgotten anytime soon—rather, it may continue to represent a solid entry point to a high-performance, third-generation Corvette experience.

Its three-year lifespan may have been fleeting, but the LT1 effectively put a capstone on early small-block performance in the Corvette and served as an inspiration as the model returned to a powerful era again in the ’90s. For modern enthusiasts who are looking for the right mix of history and capability at a non-stratospheric price, the LT1 makes perfect sense.

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Parnelli Jones—who died Tuesday at the age of 90—was the avatar of steely-eyed, crew-cut oval-track racing in the 1960s. Yes, he also won a hard-fought Trans-Am championship in 1970, famously outbrawling Mark Donohue, aka Captain Nice. But Parnelli didn’t have much use for road racers back then. As he told his car owner, NASCAR stalwart (and D-Day veteran) Bud Moore, “Ain’t none of those fruitcuppers gonna outrun me.”

So I was a bit worried about the reception I was going to receive when I sat down in his office to interview him for a magazine called Sports Car International, which was written, edited and published by a small band of devoted fruitcuppers. This was 30-something years ago, when Parnelli was long retired from a driving career that had seen him win everything from the Indy 500 to the Mexican 1000. He’d shut down his Vel’s Parnelli Jones Racing team, which had been the King Kong of American motorsports in the 1970s, and he’d sold off the extensive portfolio of Firestone tire shops that had made him a very rich man. By then, he spent his time managing his Southern California real estate empire and puttering around local golf courses.

Close friends called him Rufus—his given name—or Rufe. The rest of the world knew him simply as Parnelli. He’d mellowed over the years, but he wasn’t soft. He still had the arctic-blue eyes, the granite jaw, the thrice-broken nose. Unlike his great friend and even greater rival, A.J. Foyt, he was still trim enough to climb into a midget and sling it around for hot laps, and there was nothing that tickled him more than outrunning his sons, P.J. and Page, who were embarking on careers as professional racers. “He always had to lead,” Al Unser, who won Indy twice while driving for him, once told me. “If he’d ever settled down, he probably would have won twice as many races as he did. But he just couldn’t stand running second. It’s not just racing either. If you’re playing pool or golf, or if it’s just arm wrestling, the man has to win.”

Parnelli greeted me with a firm handshake and a chilly smile, and I figured the interview would last about as long as a heat race in one of the many USAC sprint car shows he dominated in the early 1960s. Much to my surprise, he spent the rest of the afternoon with me. He squired me around the museum he maintained upstairs, passing along loving histories of each of the cars. Then we sat down with his partner, the large and expansive Vel Miletich, and longtime right-hand man Jimmy Dilamarter.

A few weeks earlier, Dilamarter said, he’d been out with Parnelli when another driver tried to cut in line at a freeway onramp. Parnelli ran him onto the shoulder and off the road, and he would have driven him into a bridge abutment if the guy hadn’t backed off. Then, with a big belly laugh, Miletich recalled how Parnelli had terrorized the NASCAR regulars in a Ford stock car at Darlington, repeatedly pulling slide jobs that forced the other drivers to stand on the brakes to avoid a wreck in Turn 3. After the car went several laps down due to mechanical issues, Miletich put driver Marvin Porter in the cockpit. After the race, a perplexed Porter told him, “These guys sure are polite. Every time I reach a corner, everybody backs off for me.”

Of course, these stories fit squarely into the Parnelli mythology. What I didn’t expect to find was that the man was genuinely funny. Whenever I saw him, he’d regale me with stories from a treasure trove of hilarious anecdotes. One of his (and my) favorites was about how he got involved in the relatively new sport of off-road racing.

“That was Bill Stroppe’s doing,” he said. “He asked me to do a race in Las Vegas. I wasn’t interested, but Bill said, ‘I guess you’re not man enough to do it.’ Well, that was like waving a red cape in front of a bull. So I agreed to do it, and I told the guy riding with me, ‘Alright, you tap my leg if you think I’m going too hard.’” Parnelli snorted. “That guy plumb beat me to death. And I beat the shit out of the car. I mean, I knocked the front tires clean off of it. And I ran it on the rims for so long that they had to take a torch and cut them off.”

But what was so refreshing—and surprising—about Parnelli was his humility. Well, maybe humility is the wrong word, because he was clear-eyed about his skills. Once, when I asked him which drivers he’d feared back in the day, he was silent for a long time before saying, “I don’t want to sound like I’m bragging. But I always felt that other drivers were there just to be beaten.” That said, he wasn’t what he called “an ego guy.” He gave credit where credit was due, and he wasn’t always the hero of his own stories.

He admitted that he pushed his cars too hard—he’s the all-time leader of the Broke While Leading category—and he blamed himself for the failure of the STP turbine whooshmobile that crapped out within eight miles of winning Indy in 1967. He acknowledged that he was terrified by running sprint cars on Midwestern high banks, which was a major reason he quit racing open wheelers while he was still in his prime. And when he made a mistake, he owned up to it.

In 1972, VPJ went to Indy with Al Unser, who’d won the 500 for the team the previous two years. “Penske was there with the McLarens,” Parnelli recalled. “Donohue set on the pole, but they kept puking engines. At the last minute, we sold them one of ours. Well, Donohue won the race, and our cars finished second and third. That’s when I designed a belt that goes around your waist, and it has a boot on the back and a push button, and you can kick your own ass.” He roared. “Al would have won three years in a row if we hadn’t sold Donohue that engine.”

But the more I talked to Parnelli, the harder I found it to reconcile the many contradictions he embodied. He grew up poor—and poorly educated—and did a long, painful apprenticeship running jalopies on Southern California bullrings. Yet despite racing during what was statistically the most dangerous era in motorsports history, he was never seriously injured, and he ended up as one of the wealthiest drivers in the world.

On ovals, whether the rutted dirt of Langhorne or the smooth pavement of the Indianapolis Motor Speedway, he was uniquely relaxed and precise. “He never looked like he was going fast,” said Johnny Rutherford, who raced against him on both tracks. “He made it look effortless.” But in road racing, he was a wild man, infamously punting John Surtees halfway to Salinas during a Can-Am race at Laguna Seca (which he won). And as his one-time Trans-Am teammate Dan Gurney recalled, “When you were following right behind him, he’d carve the edge off [the corners] and throw rocks at you. He did that to me once at Kent and broke my windshield.”

And then there was the man himself. Away from the track, he was too tightly wound to be truly avuncular, but there was nothing about the way he carried himself that hinted at his legendary combativeness. I mean, this was a guy who punched out another driver after winning the Indy 500. As Bobby Unser, who’d been mentored by him, once told me, “Parnelli’s a very gentle person, but he can be extremely ornery. Extremely ornery. He was one guy Foyt never picked on. Foyt might have been able to whip him, but Parnelli was like a wolverine. He would have chewed on his ears and bitten his nose off. And even if he’d gotten whipped, he would have waited until he healed up, and then he would have come right back at him.”

Parnelli didn’t exude the swagger of A.J. Foyt or the charisma of Mario Andretti. He wasn’t as sunny as Dan Gurney or as quotable as Bobby Unser. But he was one of one, and what a great one he was.

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Keeping classic vehicles up and running isn’t always easy, and these days, that’s just as true for shops as it is for DIYers. I recently talked to four owners or operators of restoration shops to find out what their top business challenges are in 2024. Some of the answers I received were not a surprise. Frankly, everyone has been talking about finding qualified labor in almost every field. But some of the answers I got were eye-openers. 

Every independent restoration shop operates differently. Some shops are very well-established with a long track record, and a few have major national or worldwide concours wins under their belts. Some are more focused on their local area, building a reputation as well as a customer base. Many shops also tend to specialize in a particular field, such as engine and transmission rebuilds, paintwork, or a specific type or decade of cars. In 2024, even full-service shops tend to utilize independent rebuilders or repair shops for specific skills such as radiator repair and rebuilding, powder coating, or rebuilding clocks or radios.

The repair, not just restoration business is also thriving at many restoration shops. Those services that might have been handled by a local service station 20 or 30 years ago—tune-ups, hose and belt replacement or air conditioning repairs—now represent part of the day-to-day work docket of many restoration shops.

Adam Hammer, owner of Hammer and Dolly Automotive Restorations LLC in Traverse City, MI, sees the value in doing many of the small jobs alongside the full restorations that they also perform. The “small work adds more volume, and helps to make sure that everyone in the shop keeps busy” says Hammer.

Hammer, a graduate of the McPherson College Automotive Restoration program, has been in business as Hammer and Dolly for 13 years, has 10 employees and offers services ranging from full restorations to maintenance. Challenges include increasing costs for parts and equipment, as well as labor. In addition to increased cost, backorders for those parts is also an ongoing issue. Hammer also mentioned environmental challenges, as some regularly used compounds such as paints and solvents are no longer sold, making substitutions, often seen as harder to work with, a necessity. As to finding qualified workers, Hammer says “find the right person with aptitude to grow the skills, and we can teach the skill.”

Husband and wife Ed and Melissa Sweeny are the co-owners of Proper Noise, LTD, a restoration shop located in Mount Penn, PA that specializes in both postwar British and Brass Era cars. In business for seven years, there are six employees including the Sweeneys. They specialize in the mechanical side of a restoration, and will outsource paint as well as some other areas of restoration if needed. When asked about current challenges, Ed focused on a few areas such as the quality of parts that they source from vendors. The issue is serious enough that Sweeney has turned in-house to scanning and 3D printing parts when necessary. Another challenge? Finding correct tires post-pandemic for those cars that use odd sizes, including many of the Brass Era vehicles he works on. “No one can go into production for just a small amount of tires, making it too expensive for the supplier, it becomes impossible for them to make any money,” says Ed.  

Another problem facing all of these small shops? “It’s always hard to say no to clients, but sometimes scheduling work can be very tough.” Sweeny is talking about “job creep”, where a car comes in for brakes, for example, but, upon inspection, tie rods and shocks and more are needed, turning a few days repair into a week, or longer.

Mechanical Arts, located in Tenants Harbor, ME, is owned by Philip Reinhardt, also a recent McPherson College graduate. In business for four years, the shop has three employees. Specializing in repairs and restorations of pre-1980s vehicles, with a sweet spot for cars of the 1930s through 1960s, Reinhardt is facing another common problem in the restoration world: Running out of space to work on client’s cars. Their 3000 square foot shop is overwhelmed with customer cars, forcing staff to “play musical cars.” Although he characterizes this as a “good problem to have” Reinhardt hopes to expand soon, with plans to more than double the size of Mechanical Arts. Reinhardt also sees the “job creep” on client cars which can make effective scheduling tough. “Maine doesn’t have a State Inspection for older cars, so a car coming in for a routine service can have a completely worn out front-end” said Reinhardt. This type of problem is especially important to owners who are new to the old car world, some of whom have grown up in an era when going 10,000 miles between services is expected.

Finally, Eric Peterson is the manager of Leydon Restorations in Lahaska, PA, a shop that has been in business for just over 50 years. Peterson has worked there for 16 years, and been manager for 13. Leydon is known almost exclusively for mechanical restorations, which you can expect to see (or hear) at concours lawns around the globe. Peterson has a bit different take on finding talent. With the advent of television “rebuilder” shows and pop culture expectations of the mythical 30-minute total restoration, occasionally managing expectations of potential new hires is a challenge. “The realities of the work-a-day life at a shop is much different than what some might expect. You can’t have someone who is only interested in the glitz and glamor side of  the restoration.” That said, Peterson reminds us that good people are an investment, and that he feels very fortunate to have a great crew aboard.

Like other shops, Peterson laments the quality of parts that are currently available. “The quality keeps getting worse. I have one car that has had three ‘bad from new’ condensers. Few things are of the lasting quality (that we used to see). Manufacturers are just looking for the cheapest way, the least expensive supplier. Charge us more the first time if you have to, but give us a part that works!” 

Peterson also brought up a theme that ran through just about all of my discussions with restorers. Perhaps the biggest problem facing restorers in 2024 is simply finding the right specialty shop that can do the smaller jobs that used to be easier to farm out. A town that used to have three, four or five radiator shops might have one remaining. The owner is usually older, too, and often looking for someone to take over. It’s the same deal at a radio repair facility or that automobile clock repair shop. Finding someone who can reline brakes, grind cams or even make replacement keys is becoming increasingly more difficult.

The takeaways are twofold: For the consumer, understand that constraints are tightening for the shops that keep your ride on the road, so once you’ve found a good one, be patient with them. For the entrepreneurs who might be reading:  Perhaps you should set your focus on becoming a specialty supplier. Find a need and fill it. And do it soon, because the demand is strong.

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There’s never been a better time to be a steward of the obscure, rare, and obsolete. The steady rise of 3D printing seems to have followed an inverse path from the trickle-down of tech in decades past; while major automakers continue to utilize it on a relatively small scale, the democratization of the technology has led to a massive hobbyist community. Within this, automotive enthusiasts lead a collaborative, grassroots movement in spinning up all manner of tools and componentry for collector cars at every level.

Indeed, it’s the professional restorers, speed shops, and small-batch manufacturers who appear to benefit the most from 3D printing. In some ways, restoration and modification is the same as it ever was; metal fabrication and OE parts sourcing is as relevant as ever, but as cars once considered “modern” begin to slip deep into “classic” territory, a vast amount of plastic components—both vital and superficial—are only becoming more brittle and faded with each passing year.

And as much as we hoped modern production technology and OEM classic support from automakers like Porsche and Mercedes-Benz would guarantee an unbroken line of quality OEM replacement parts, a major European and Japanese parts shortage is brewing. And, when these parts reserves run out, some cars might be jerry-rigged lest they be permanently put on jackstands. 

This is hardly a new phenomenon—dwindling support has required creative solutions from generations of enthusiasts, and while 3D printing has been around for a long time, in its early days it showed more promise than result. To wit, Steve Dibdin, co-owner of Additive Restoration (AR) and one of the foremost experts on 3D printing in the automotive space, has seen the technology evolve from the get-go. He’s used 3D printing since its relative adolescence in the mid-1990s, when he says the end product could only be used for prototyping. “The early ones were incredibly brittle, and very expensive. I remember working on a product, it was a small plastic part—about three inches by four inches by half an inch—and it cost [about $2,000] in the 1990s,” he laughs. “I remember putting it on the table, and it just shattered!”

The tech has come a long, long way in the decades since. One of his first projects under the banner of AR was a twin-spark rotor arm for an OSCA MT4, a component that leaned heavily on 3D printing for both prototyping and actual production. A week after the first rotor arm was installed, the recipient OSCA was shipped abroad for a successful 500-mile endurance rally. 

AR still offers that OSCA rotor arm for sale on its website with a $750 tag. Hardly cheap, but as Dibdin explains, the alternative is your MT4 running poorly, or not at all, not to mention the actual production cost of the part is higher than you might think. OSCA built an estimated 72-79 MT4s between 1948 and 1956, and given these were hard-lived race prototypes, quite a few were lost to both time and tragedy. Prior to AR’s work, most OSCAs just “made do,” either with adapted off-the-shelf ignition or with time-consuming custom-fab parts. Dibdin says previous efforts from enterprising owners include a small batch of rotor arms hand-dremeled from a block of Bakelite.

With so few cars in existence and traditional means of parts production, it hardly made sense to produce even a limited run of production rotor arms. Economies of scale mean a minimum order for this part might have run into the hundreds, if not thousands of units, necessitating a unit price far, far beyond AR’s $750 ask. “We do a lot of one-offs, of course. But below between 1,000 or 2,000 parts, there’s this gray area that’s been difficult to make things efficiently, especially in plastics—until now.” 

He holds up a small, blue plastic component on our video call, apparently a 3D-printed prototype for a carburetor linkage for a Sunbeam Tiger. As he tells it, the nylon doodad is likely stronger and will last longer than the original part while maintaining the same appearance. I ask him if that’s the case for many now-ancient plastic parts. “Absolutely! Take the column switch repair kit for [Ferrari 330s]. If you have one of those, there’s a good chance your indicator stalk is going to fall off at some point.” He mentions poor injection molding done in-period that that produced a plastic part that was weak, brittle, and full of inclusions. 

“It was destined to self-destruct at some point. With 3D printing, we can make sure we don’t have those [imperfections], and I can predict exactly how something is going to fail,” he explains. “The technology we have both on the design side and the implementation of that is far advanced from where it was even 10 years ago.”

So, at the current state of the art, proper implementation of 3D printing produces components that are often better and far cheaper to produce than it was when it left the factory. For the smaller parts, is there still even a need for traditional restoration methods? “Machining still has its place,” he says. “What [3D printing] does is take out much of the man hours and required expertise of actual production. The design and development time is still the biggest expense.”  

Shucks—I was rather hoping each hobbyist 3D printer came with a button marked “Press here for 1950s Maserati wheel cap,” but I digress. Of course, plastic isn’t always the answer. “If we’re doing something like suspension or brakes that’s safety critical, we’ll machine it from billet,” Dibdin explains. “We can get parts printed in 3D metal, and they’re very good. But, there are significant considerations.” He mentions post-processing is a large part of the current output of 3D printed metal, both aesthetically and structurally. And you’re limited in the material and application, whereas machining is settled science. 

“When you machine something from metal, you know the material, you know the process, and the tolerances are far, far tighter,” Dibdin continues. “Though they can sometimes 3D print in metal or other material and then throw it on the CNC to finish it off.” The best of both worlds, then. 

Still, even modern material cannot out-maneuver poor design. Dibdin mentions a previous project involving 3D printing a commonly failed part found in a Ferrari 550 seat. After a full development period, AR’s recreation part failed a short while after installation. “You have to know where the technology is appropriate and compatible. It’s the difference between getting a microwave-ready meal versus going out for a sitdown meal,” he laughs.

Dibdin was keen on stressing that 3D printing, no matter how advanced it may be, is still just another tool in your workshop. “It helps us get to a point, but it’s still very much about human interaction and understanding how things go together. It’s sort of sexy with lasers flying around, but to get to that point, someone spent time developing a product, going through iterations, prototyping it, testing it, and making sure it’s suitable,” he says. “At the end of the day, it’s just a fancy hammer.” 

So, things are looking way, way up for micro-scale production of better-than-factory direct replacement components. But 3D printing has also irrevocably changed the aftermarket, especially when builds turn both restomod and big money. 

In a similar vein to Icon 4×4 and Gateway Bronco, Texas-based Vigilante 4×4 thoroughly modernizes and powers-up your choice of SJ-platform Jeeps, including ‘70s family truckster hotness like the OG Cherokee, Gladiator pickup, and Wagoneer. These are serious builds, and with a price tag starting at $300,000, each build is incredibly detail-rich, with little touches the Vigilante team says wouldn’t be possible without 3D printing.

Actually, the whole enterprise likely wouldn’t exist. “It’s important to say that it’s a very critical moment for us, as Vigilante is about modern technology, and we wouldn’t be able to do what we’re doing without 3D printing,” says co-owner Rachel van Doveren. “A lot of other vehicles can order [modern] parts straight from a catalog. Jeeps don’t have that luxury.” 

Like most shops that utilize the tech, Vigilante primarily 3D prints test components as part of prototyping ahead of machining. “As of right now, we have an FTM printer in-house that we prototype everything from handles to brackets before we machine the metal part to make sure it looks right and fits correctly,” explains 3D printing specialist Nick Douglass. But, where there is no old part to restore or modify, and the component sits more-or-less behind the scenes, Vigilante will create something wholly new. 

Jeep never installed rear air-conditioning ducts on any SJ-chassis vehicle, so some clever 3D printing ensures rear passengers are either frosty or toasty. Among Vigilante’s signature details are the repositioned (and modernized) air-conditioning controls, now made to look entirely original via careful post-processing. “We start with determining the need for the custom solution,” says Douglass. “We ask, ‘Are there factory parts we can restore and reuse?’ When there aren’t, we begin the process.”

It could be as complex as the A/C or as simple as a tiny bit of trim. “Take for example the clip that holds the sun visor in place. That’s not a complex piece. It just had to do its job and look good,” Douglass says. “Trying to get a factory piece sanded, repainted, and installing it with a screw without cracking that plastic can be a huge challenge.”

I ask Douglass about what developing 3D printing advancements he’s most looking forward to. He mentions metal printing, and material with integrated carbon fiber. Then, he pauses for a moment to reflect, thinking back on our discussion. “I wonder, personally, when it will become so hard to find a decent donor [body] panel, that the technology for sheetmetal reproduction will become more popular,” he muses. “There is a technology I’ve seen videos of, where a CNC-type machine uses a hammer-type object to form sheetmetal panels almost like a 3D printer, working a layer at a time. I wonder if that’s going to be the only option in the future.”

A fancy hammer, indeed. 

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In celebration of the Golf nameplate’s 50^th anniversary this year, Volkswagen has updated the eighth-generation GTI with more power and usability. At Germany’s iconic Nürburgring today, it also launched a high-performance Clubsport model, which in comparison to the base GTI means more of almost everything. More power, more aero, more stopping power, more drive modes, more aggressive styling, more wheel choices, and even more motorsport cred in the form of a one-off 343-horsepower racing version that will compete in this weekend’s 24 Hours of the Nürburgring with a newly developed bioethanol fuel from Shell.

The only bad news of the day is that the Clubsport won’t be coming to the United States thanks to the pesky and pricey process required to homologate the higher-output version of the GTI’s two-liter inline-four turbo. The resultant MSRP to cover those costs would put the Clubsport very close to Golf R territory, and VW rightly believes that outside of a few GTI-only diehards, most stateside buyers would likely opt for the faster all-wheel drive Golf R than the front-wheel drive GTI Clubsport when faced with a similar sticker price. In other words, Europeans have more choices when shopping for European performance cars, as usual.

It’s a shame, too, because the Clubsport is the fastest and most powerful production-spec GTI ever made, and there’s more than just sentimental value at play in the evolution of FWD hatchbacks. 

Now in its fourth evolution, the souped-up version of the EA888 four-cylinder in the Clubsport produces a maximum output of 300 PS (296 hp) and 400 Nm (295 lb ft) of torque, and is capable of hauling the four-door to 267 km/h (165 mph) when equipped with the optional “Race” package—without that option, the Clubsport is limited to the same 250 km/h (155 mph) top speed as the base GTI. The updated but still eighth-generation GTI boosts output from 245 PS (241 hp) in the launch edition to a formidable 265 PS (261 hp).

Although they share a powertrain, the Clubsport boasts 31 more ponies and 22 more lb ft of twist than the updated GTI thanks to increased turbo boost pressure, a tweaked engine control profile, and “other internal engine measures” that we’ll just have to guess at. The same seven-speed paddle-shiftable gearbox routes the power to the new GTI and GTI Clubsport’s front wheels, but the Clubsport completes the 0-62 mph in 5.6 seconds compared to the GTI’s time of 5.9 seconds.

The eighth-generation GTI comes standard with four drive modes—the self-evident Eco, Comfort, and Sport, as well as a driver-modifiable “Individual” profile—while the Clubsport adds a “Special” mode directly influenced by the undulating elevation changes of the Nürburgring Nordschleife. These drive modes change the profiles of Volkswagen’s Vehicle Dynamics Manager (which controls the electronically locking front differential as well as the lateral characteristics of the shock absorbers) and Dynamic Chassis Control (which takes road surface, steering, acceleration, and braking data into account to control the overall suspension characteristics).

Both GTI and Clubsport Golfs get the latest edition of VW’s progressive rack and pinion steering system, which uses a variable ratio and an electric motor to adapt the response from the wheel to account for whether you’re turning into an Aldi parking spot or navigating the ‘Ring’s Karussell. Part of the steering system’s evolution came from adding former senior Bugatti tester Sven Bohnhorst to the team. We aren’t sure that drivers will notice the “particularly positive characteristics of the steering setup of the Bugatti Pur Sport” in a Golf, but it doesn’t hurt to have Bugatti under the same organizational umbrella, either. What they are more likely to notice is the increased braking ability of the Clubsport’s one-inch larger brake system over the GTI’s setup.

Styling-wise, the Clubsport relies on substantive bodywork and materials tweaks rather than an abundance of “Clubsport” badges. The most noticeable visual differentiator between the GTI and Clubsport is the front air dam, where the Clubsport’s body-colored blades extend more aggressively into the black honeycomb grille. The other major Clubsport signifier comes at the rear end in the form of a larger roof spoiler with an opening between its leading edge and the roof (whereas the GTI gets a smaller, “closed” roof spoiler). Both cars feature exhaust outlets on either side of the rear diffuser, with the Clubsport’s “Race” package adding an Akrapovič sports exhaust system. More subtly, the non-body-color trim on the Clubsport is finished in gloss black rather than the matte black of the GTI.

The GTI and GTI Clubsport both get VW’s new LED headlights and taillights, with an option box that can be ticked to include IQ.LIGHT LED headlights with a longer beam throw. The package also changes the taillights to 3D LEDs, which adds an effect to the blinkers.

The side profile of the Clubsport is distinguished by striated graphics on the bottom of the doors, as well as a Clubsport-only diamond cut finish on the optional 19-inch “Queenstown” wheels designed for the eighth-gen GTI. For those seeking the lightest-possible wheels from the factory, there is also a Clubsport-only option for 19-inch “Warmenau” forged shoes, which weigh just 8kg (17.6lbs) each.

Inside the new GTIs, Volkswagen has made the touchscreen-heavy interfaces more user-friendly (and finally illuminated the HVAC controls!) and debuted its newly designed software and hardware package for the infotainment system, which now is now a fourth-generation modular infotainment system. What does that mean? Most importantly, a new menu structure that includes a driver-customizable toolbar that stays on the screen no matter what. The hardware side of the updates is defined by a 12.9-inch touchscreen on the center of the dash.

Complementing that big tablet of toys is the 10.2-inch digital instrument cluster, which has three selectable configurations: Classic, with round dials; Progressive, with various tiles to display relevant info to the driver; and a performance-focused “GTI” option which puts the tach front and center and includes nifty sub-dials to monitor turbo boost and torque. Both the updated GTI and GTI Clubsport have an option for a head-up display on the windshield, as well as a 480-watt Harmon Kardon-designed sound system, which adds to the existing nightclub-like ambiance that comes courtesy of the 30-color-configurable interior accent lighting package that comes as standard in the GTI and Clubsport.

For drivers who like hands-free virtual assistants/assistance, there is an option for a new “IDA voice assistant” for the first time in a GTI, which uses ChatGPT to answer just about any question you can think to ask, such as “Why would anyone want their car to listen to them?” Some will prefer the GTI without this modern HAL 9000, but we’re not so cynical to think it won’t have the potential to be useful.

As for the materials in the cars’ guts, cloth sports seats are standard in the GTI, while the Clubsport gets VW’s ArtVelours fabric wrapping a premium version of those sports seats; both cars can be spec’d with leather interiors, heated and air-conditioned front seats, and authentic carbon fiber trim packages. 

All told, the Clubsport appears as a fitting celebration of VW’s 50 years of cranking out hot hatches, not to mention a likely send-off for fully-ICE powertrains in the GTI. It’s just too bad we won’t see it in the states.

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Among the many segments in the collector car hobby, muscle cars are one of the most solidly established. Their market is more mature than the emerging collector SUV and Japanese segments, and demand remains broad and deep, in contrast to the more limited audience for cars from the ’50s and earlier. Lately, however, the trend for these cars as a group is also one of the hardest to pin down.

The Hagerty Muscle Car Index, a stock-market-style grouping of cars that represent a broad spectrum of the segment, is down 5 percent in the last quarter, and 8 percent over the last year. That said, 2024 has still featured standout muscle car sales, like this ’70 Plymouth Hemi ‘Cuda and this ’70 Oldsmobile 4-4-2 W30. As a result of these somewhat mixed messages, Hagerty Price Guide editor Greg Ingold has characterized the muscle market as “softening but nuanced.”

One theme we are seeing lately is top-line cars—like the Plymouth Superbird we highlighted in a recent Price Guide update—slipping while some less powerful, less ostentatious, or less mainstream models are seeing a slight uptick. To wit, here are a few examples of muscle car values that show some bright spots in the middle of the muscle car market as well as some of the recent weaknesses at the pointy end.

1968-69 Mercury Cyclone: +15 percent

Starting out in 1964 as a trim level on Mercury’s Comet, the Cyclone became its own, more luxurious take on the muscle car in 1968. The model offered a range of solid-performing engines and handsome, sporty looks, but never took off in an era where wild exterior visuals were beginning to match the increasing power under Detroit’s hoods. While not as rare as some of the other cars on this list, the entire run of ’68-69 Cyclones didn’t cross 23,000 units, so if you’ve got one or are thinking about picking up this upscale muscle alternative, it’s a near lock that you’ll be the only Cyclone at the next local car show.

The Cyclone and its close relative, the Ford Fairlane (below), are the two on this list with the broadest spread of options and drivetrains, so there’s a fair amount of variance in terms of value and percentage of increase within each of these two models (the percentage increase in the heading is for the model overall). For instance, a #2 (“excellent”) condition ’69 Cyclone Spoiler II with its burly 428 Cobra Jet is up 26 percent to $89K, while a ’69 Cyclone GT with a 302-cubic inch V-8 in the same condition is up a still-significant 16 percent to $28,500. Our valuation team does not always note increases across the board within a specific model—sometimes in a slow market, a top configuration will move while lesser versions hold steady—so this market behavior bodes well for the Cyclone.

1971-74 AMC Javelin AMX: +10 percent

Though the AMX started life as a two-seater, AMC pivoted for 1971 and made AMX the top trim level at in the Javelin lineup. A spruced-up interior, revised fiberglass hood, and spoilers front and rear visually distinguished the AMX from the rest of the Javelin trims, while between the fenders sat a 285-horse 360-cubic inch V-8 or a 330-hp 401-cubic inch V-8. Even if it wasn’t the most powerful car out there, the Javelin/AMX was stylish if slightly offbeat competition for the Big Three’s pony cars, and it proved to have a healthy following.

We picked the original ’68-70 AMX for our 2023 Bull Market List, and since then values of that generation are up just shy of 5 percent. The AMX-trim Javelins of ’71-74, however, are up a more impressive 10 percent. The good news is that even #2 (“excellent”) condition 360-powered cars come in at $36,600, and driver-quality cars can be had for about $20K. Budget a few grand more for the larger engine.

1966-67 Ford Fairlane: +8 percent

As with most mid-sized cars of the era, you could get your fifth-generation Ford Fairlane in decidedly non-muscular station wagon and sedan form (though you could get some powerful engines in those body styles). For the purposes of this exercise, though, we’re only considering the two-door models. Still, there was plenty of variety in both trim and engine—from mild 289 V-8 to the much wilder (and rarer) dual-quad-equipped 427. What’s more, in contrast to the Mercury Cyclone, Fairlanes were produced in healthy numbers.

Values for the more muscle-oriented Fairlanes are up 8 percent overall in the latest edition of the Hagerty Price Guide. A 320-horse 390-cubic inch ’67 Fairlane 500 convertible tips the scales at $30,900 in #2 (“excellent”) condition, a 10.4 percent increase. Up 16 percent (to $35K) is the ’66 Fairlane 500XL coupe with the 265-horse 390. Meanwhile, the crown jewel of the model, the 427-powered ’66 Fairlane 500, is up 16.4 percent in the same condition, and is valued at $255K. Prior to this past quarter’s strong performance, Fairlanes were increasing slightly through 2023’s slowing market. If there’s a poster child for a solid ’60s muscle cruiser that’s not flashy but gets the job done, the Fairlane might be it—and it seems the market’s taken notice.

1969 Chevrolet Chevelle COPO: -13 percent

In 1969, GM’s corporate edict keeping engines larger than 400 cubic inches out of any car that wasn’t either full-sized or named Corvette was still very much in effect. Creative minds find solutions, however, and the Central Office Production Order (COPO)—a program designed to enable the special order of specific option combinations for police, municipal, and other fleet use—got leveraged to bring big power to a few savvy people. That year, 323 Chevelles were ordered with the 425-horse L72 427-cubic inch engine through COPO. Don Yenko’s S/C conversions were the most famous Chevelles to go through this process—99 were made—though Berger Chevrolet in Michigan also utilized the COPO side door. The remainder trickled out to other dealers across the U.S. and Canada.

Despite the fact that these Chevelles are among the most rare and sought-after Chevy muscle cars, our valuation team has observed a downward trend in prices. Across all conditions, non-Yenko COPO Chevelle values are down 13 percent. Yenko S/C Chevelles have performed a little better, losing 10 percent over the last quarter. That doesn’t mean any are cheap, however. A #2 (“excellent”) condition COPO Chevelle is still valued at $156K (a Yenko in the same condition will garner $165K), and either car in #4 (Fair) condition will still command six figures.

1967-69 Camaro SS: -8 percent

From the factory, a set of SS badges on a first-gen Camaro meant at least a 350-cubic inch V-8 under the hood. Buyers who wanted more grunt could option a big-block 396 with up to 375 horses. If you pulled up to a stoplight next to a Camaro SS, it helped to scope out the front fender to see what flavor V-8 you were up against. That said, plenty of savvy owners subbed out the chrome “396” for a more modest 350 badge to fool would-be opponents.

Today, regardless of the horsepower count, first-generation Camaro Super Sports of all stripes are down a significant eight percent as a whole. Of course, this translates to different values across the spectrum—For instance, a 300-horse ’69 L48 350-powered Camaro SS in #2 (“excellent”) condition is now valued at a little more than 61 grand, and $127,000 will fetch a ’68 SS convertible with the 375-hp 396 in the same condition. While these Camaros aren’t top-dog Chevys like the COPO Chevelles, they are coveted A-list cars from the muscle era, and our valuation team takes notice when their values move.

1968 Shelby GT500 KR: -4 percent

It’s not the most pricey Shelby Mustang (that honor goes to the ’65 GT350R) and it isn’t set up to be as nimble as other Shelby creations, but the ’68 Shelby GT500 KR has a lot going for it. 428 Cobra Jet Power, the Shelby name, and some seriously good looks have put the GT500 KR at the top of the list for many a Mustang fan. After a stable 2023, prices are down 4 percent for convertibles (to $204K for a #2 example) and 3.7 percent (to $155K) for fastbacks in the first quarter of 2024. Though Ford muscle has generally trended positive over this period, this particular Blue Oval tracks the broader segment’s recent cooling.

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Nearly 20 years ago, I was in high school and riding to Thunderhill Raceway Park with Bruce Trenery, a vintage car dealer. During our trip, he articulated his predictions for the future of enthusiasm for cars. In addition to his concerns about the regulatory environment, he was most disquieted by his perception that young people just weren’t interested in cars any more. As a young person who was (and remains) immensely passionate about cars, I was initially put off that the latter idea could even be possible, but after reflecting on the interests of my contemporaries, it alarmed me because I could see a lot of truth to it.

While car enthusiasm today isn’t ubiquitous the way it might have been in the era of Grease or when the Beach Boys released “409,” Trenery’s foreboding apprehension remains mercifully unfulfilled. In fact, I have been delighted to observe what almost feels like a resurgence in passion for cars among young people in the past two decades. Attending events today, especially more approachable ones like Radwood, I’m always struck by the number of obviously enthusiastic teenagers and twenty-somethings, especially given that the cars concerned are often older than they are.

The emergence of social media has doubtless played a big role in spreading enthusiasm: The dynamic and sensory nature of cars (i.e. they move, they’re shiny, and they make loud noises) means that they lend themselves perfectly to the mediums of photo and video. Teenaged “spotters” wandering events, camera in hand, become the purveyors of beautiful media that portrays our cars in fresh, original ways. While it is gratifying for us to look at pretty images, the rise of spotters does something essential for young people, too—it gives them a meaningful way to interact with cars (and often their owners, too) that they couldn’t otherwise do, regardless of whether that’s in person or on their phones.

That’s particularly fortunate since the barriers to entering this space as a participant—that is, as a car owner rather than an observer—are higher than they have been since at least the end of World War II. This is tragic but incontrovertible based on three interrelated factors, all of which converge to make things tough for young enthusiasts. These are, in order from broadest to most granular: 1) macroeconomic shifts 2) their consequences on the new car market 3) the resulting impact on secondhand enthusiast cars ranging from lightly used late model cars to full-fledged classics.

The core of the macroeconomics discussion as relates to young people is disposable income. Simply put, young folks have a lot less of it than youths did in previous decades. This is the result of too many things to discuss in detail here, but the rising costs of real estate, education, and healthcare at rates that exceed the growth of wages are major drivers. These affect people of all ages of course, but for young people who do not yet own any real estate to help their net worth grow, and for whom the ever-increasing cost of education (and the near necessity of student debt) is greater and a larger share of their liabilities, these economic realities are far more restrictive. This means that even if car prices were stable (they’re not), young folks would be less able to participate in the market because they simply don’t have the disposable income to enter it.

Real wages have been stagnating for decades and the consequences of this long-standing trend have been manifesting themselves in the new car market since at least the 1990s. In short, as people have less disposable income, they buy fewer fun cars and manufacturers respond by killing them off because they sell poorly.

Let’s take a journey back 30 years to 1994, when there was a whole host of enthusiast cars available at both entry and higher price points. Effectively the entire sport compact genre, including: Honda Prelude and Del Sol, Nissan Sentra SE-R and 240 SX, Toyota MR2 and Celica, the Mitsubishi Eclipse (and Eagle Talon and Plymouth Laser) and 3000 GT (and Dodge Stealth), the Ford Probe, the Mazda MX-3 and MX-6. Go back another 20 or 30 years and the story is similar: Fiat 124, Alfa Spider, Datsun Roadster, Triumph TR, MGB, and big Healeys. This to say nothing of pony cars and muscle cars from the ‘60s and early ‘70s.

Today, these cars and their ilk are nearly gone from manufacturer lineups. There are precious few reasonably priced sporting survivors: the Mini (which recently lost its manual for the US market, as has Volkswagen’s GTI), the Subaru WRX, the Mazda MX-5, and the Toyota GT-86 (and BRZ), which is most realistically the spiritual descendent of the 240SX. This is not part of some draconian plot on the part of manufacturers to deprive us of driving enjoyment and modernity in the same package, but rather their response to market forces. One needs only look at MX-5 sales in 1991 (63,000 units) vs 2018 (27,000 units) to see that consumers aren’t buying sporting cars the way they once could, despite today’s Miata costing less than it did in 1991 when adjusted for inflation and there being fewer other enthusiast choices at comparable prices now.

This lack of appealing new affordable options for the driving enthusiast has predictably disheartening consequences for secondhand cars of the same ethos, whether they’re four years old or 40 years old. The decreasing sales of these cars when new in recent years means that supply for used options is tight and thus depreciation is low. This, coupled with the fact that 30-year-old cars are pretty usable in modern traffic, means that more and more enthusiasts are turning to Radwood era (1980-99) cars.

In 1994, driving a 30-year-old enthusiast car meant giving up a lot of usability and performance. You’d have to deal with carburetors, marginal brakes, tires, suspension, and acceleration, catastrophic rust, poor weather sealing and ventilation, and a host of other unpleasantries that we don’t generally have to contend with in a 30-year-old car today. Similarly, cars of the Radwood era are easier to live with than more modern ones, albeit for completely different reasons. They’re much simpler than newer cars, lacking most of the sensors and computers that handle everything from HVAC to the powertrain to radar cruise control. Even something as simple as replacing headlights has been completely transformed: compare the 5.25” and 7” sealed beams in a BMW E30 or NA Miata to a $1500 Xenon assembly in a car from 10 years ago.

The result is that cars of this era are sought not only by Generation X and millennials who lusted after them in their youths, but by Generation Z too, who are pushed toward them by the dearth of affordable and appealing newer options and pulled toward them by the intrinsically appealing characteristics such as the experience of interacting with them and the variety of options, along with their simplicity and accordingly sensible running costs. The tragic result of this growing demand is that cars of this era have appreciated in value, making it even more difficult for young folks to buy into the market.

The silver lining (for us car nuts anyway) is that car enthusiasm is still very much alive and well, even if it takes a bit more diligence. For young enthusiasts, there are many interesting options at reasonable prices if they’re willing to go off the beaten path a bit. Mainstream enthusiast cars like M3s and air-cooled 911s are prohibitively expensive, but plenty of other options do still exist like non-M BMW E36s, early Boxsters, or several generations of the Mustang. For those less concerned about sporting intent, a host of other Radwood attendees remain attainable, from a Toyota Century to the world’s cleanest 1989 Oldsmobile Toronado Trofeo. 

This may be feeble consolation in the face of larger economic forces, and young enthusiasts approach the hobby through different literal and figurative vehicles than in years past, but there’s no question that they remain highly engaged. I for one am delighted to see their passion and look forward to seeing how the resilience of the human spirit inspires them to express that passion in ways that generations before them never considered.

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Few cars are as blatantly outrageous as homologation specials. That’s my first thought as I gaze at the massive wing and aero-sculpted fender flares of the 1990 Mercedes-Benz 190E 2.5-16 Evolution II before me. One of 502 examples built to push through a host of go-fast bits that Mercedes hoped would help secure the German Touring Car (DTM) championship, this Evo II is as garish as a base 190E is staid. But, as I’d soon discover, to judge the Evo II by its looks alone misses the happy dissonance that makes this particular Mercedes so special.

As I walk toward the driver’s door, my first-impression incredulity mixes with the mythology that has long surrounded this car—how the original 190E 2.3-16 prompted BMW to create the M3, the ensuing knockdown drag-out battles, and the eventual DTM championship captured by Klaus Ludwig behind the wheel of an Evo II—to create some pretty lofty expectations of what it’s like to drive. The Evo II might not be my hero car, but it’s a hero car to many, and I’m about to meet it.

Before delving into the drive, though, a bit on the Evo II’s background…

The 190E, which debuted in 1982, owed its existence to the then-new U.S. Corporate Average Fuel Economy standards: Mercedes-Benz needed a smaller, more efficient model to help boost its fleet’s economy. To that end, the Bruno Sacco–designed small Merc was a departure for the company, but a necessary one if it wanted to play in the growing U.S. luxury segment. Despite its size, the W201 (the 190E’s internal chassis designation) adhered to the safety, durability, and luxury standards applied to Mercedes’ full-size cars. Multilink rear suspension—an industry first—contributed to the baby Benz’s handling and stability, and the platform itself was inherently robust. It was an excellent foundation for a small luxury car, but also an ideal starting point for racing.

Though the company refrained from factory participation in racing, a decision that came out of the tragic crash at Le Mans in 1955 that killed 84 people, Mercedes had planned to make the 190E available for privateers in the World Rally Championship. The Audi Quattro’s all-wheel-drive dominance rendered the Benz’s rear-wheel-drive configuration obsolete before it could even enter that series, however, and the company decided to turn to German Touring Car racing. There was one catch—the 190E’s M102 2.3-liter four-cylinder engine’s 136 horses didn’t exactly set the world alight.

To wake up the engine, Mercedes turned to Cosworth, which developed a 16-valve head that upped power significantly, to 183 hp in Europe and 167 in the U.S. The car now had the motivation it needed to take to the track, but to complement the newfound power and round out the new 190E 2.3-16 package, the car received a wealth of additional upgrades. Subtle bodywork tweaks reduced its drag coefficient and lift, and a dog-leg five-speed Getrag manual was fitted, as was a limited-slip differential. Larger sway bars, along with stiffer springs and dampers, made up the major suspension changes, and the steering ratio was quickened.

Privateers took the 2.3-16 DTM racing beginning in 1985 and met with some success—not championship-caliber results, but enough, evidently, to convince BMW to get in on the game. In 1987, BMW rolled out its M3 with full factory support. This move prompted Mercedes to finally get off its duff and commit to its own works effort.

Mercedes debuted the 190E 2.5-16 Evo I in 1989 and quickly sold 502 copies to make it racing-eligible. The larger 2.5-liter engine produced 201 hp, wheel diameter went up to 16 inches to accommodate larger brakes, and the steering got quicker still. The Evo I’s body wore larger fender flares and a more aggressive rear wing, though it wasn’t nearly as dramatic as what was to come. These tweaks still weren’t sufficient, however, as Audi, too, had joined the DTM, and competition was getting ever more heated.

As a result, in 1990 Mercedes introduced the Evo II, the ultimate homologation iteration of the 190E. Revised induction and exhaust, improved engine management, and a 7800-rpm redline yielded 232 horsepower, while 17-inch wheels found their way to all four corners. The biggest change, though, was to the bodywork. The teardrop-look fender flares don’t exactly fit with the Sacco design, and the wing out back looks like a ’90s German interpretation of a Plymouth Superbird. But the important thing was that it worked; the car’s drag coefficient was just 0.29, and Mercedes had the tweaks it needed.

Given the fierce competition, it took a couple years of campaigning, but 1992 would be the 190’s year. In the hands of driver Klaus Ludwig, the Evo II brought home a championship for Mercedes.

More than 30 years hence, the Evo II remains revered. But why? Rarity doesn’t automatically make something special, nor does it guarantee a rewarding experience, especially in the case of limited-run specials primarily designed to get the racing program what it needed to win. With that question in mind, I pulled at the Merc’s door handle and slipped inside.

With the door closed, it’s easy to forget you’re in a homologation car. Everything presents as very standard 1980s-era Mercedes, with materials and finish that reinforce the solid, durable reputation these cars have always enjoyed. Then you look around and begin to notice the details: The bolstered seats look a touch out of place in the otherwise sober interior. The familiar gauge font displays a rather un-Benz–like 7800-rpm redline, and the shifter shows a dog-leg five-speed pattern. Tiny, aero-prioritized side mirrors sprout from the base of the front door windows—the left rectangular, the right smaller, stubby and square, with just enough reflective material to flash the presence of someone diving next to you into a corner. Look through the rearview mirror and you’ll see the window cover that reduces what’s visible out back—DTM rules specified that rear wings couldn’t block the field of view, so Mercedes’ solution was to effectively reduce the size of the window to hide the wing. Clever.

I pull the shift lever toward me and down to engage first. The dog-leg ‘box only takes a moment to get used to, and while the one-two shift is clunky—this is no drag racer—having second and third in alignment makes for straightforward gear changes, and surely helps minimize the potential for money shifts on track. The slide between gates is slightly stiff and the action is somewhat plastic-y, but it’s precise and never feels dainty or fragile. At speed, a healthy rev match helps smooth out notchiness during downshifts.

On the note of rev-matching, the pedals are well-spaced and the footwell offers plenty of room despite the car’s diminutive size. Clutch take-up is smooth, the grab point rather broad.

Once underway, the car immediately feels small—tiny, even. The short dash and upright windscreen, low window-sill height, and short hood punctuated by the three-pointed star at the front all contribute to a feeling of taut dimensions. Visibility is excellent, with the exception of what’s behind you, of course.

A couple miles into my journey, the dissonance begins to take hold. The Evo II does regular car things exceptionally well: It cruises over expansion joints without a care, idles smoothly, and sounds sporty, if not overly eager. This is not the manic, high-strung car the exterior suggests, and I’m reminded that no matter how exotic “homologation special” may sound, the competence of the platform underpinning it still goes a long way toward determining a car’s personality.

Then I lean into it and immediately see what the fuss is about. Around 6000 rpm, the induction noise comes alive, a guttural four-cylinder inhale that only gets better as the revs increase. The engine has plenty of torque lower down, but it wants to play up high and barely lets up by redline. The shifter seems to improve under increased urgency. The suspension setup, soft by today’s over-sprung standards, deftly controls body roll and isn’t the least bit flustered through mid-corner undulations.

It’s the steering, though, that’s the star of the show. Deceptively light, you could be tricked into thinking you were piloting a mid-engined car based on the steering’s weight and the degree to which it communicates. Though Mercedes quickened the steering incrementally from the 2.3-16 to the Evo I to the Evo II, it’s not so sharp as to be twitchy, and paired with the ever-composed suspension, it makes for what might be the most dialed-in, communicative front end of any front-engine car I’ve ever driven.

The beauty of the Evo II lies in its deftness; it’s not a monster you have to wrangle. It’s utterly balanced—communicative but not frenetic. Intense for how engaging it is, but not physically demanding. It asks for your skill, not brute force, and because of that, it’s the kind of car you could drive hard and enjoy for hours on end. And, not that you would, but you could easily daily an Evo II—it didn’t sacrifice any of its abilities as a means of transportation to become one of the most rewarding sport sedans in history.

Unfortunately, there’s a price for this level of fun, and it’s not cheap. Although the Hagerty Price Guide does not carry the Evo II, we do track their sales. Given their comparative rarity, they naturally come up for sale less frequently than their predecessor, the 2.3-16: Over the past five years, 24 Evo IIs have sold at auction, compared to 60 transactions for the much more common 2.3-16. The average transaction price for an Evo II during that time period is $296K. For context, a #2 (Excellent) condition 190E 2.3-16 comes in at $50,800. Values for this platform as a whole are on the rise, however, with the three-year change for the Evo II coming in at +9.7 percent, while a #3 (Good) condition 2.3-16 is up 2.4 percent (and 10 percent since the beginning of 2024).

The peak of the DTM-influenced 190E spectrum is rarefied air, and prices of top-flight examples began to ramp up their trajectory in 2022. The 2.3-16 that Niki Lauda piloted at the 1984 Nürburgring “Race of Champions,” for example, fetched $344,102 at a 2023 RM Sotheby’s sale. A famous butt in a seat couldn’t trump rarity, though, as a 3317-mile pristine Evo II sold at the end of 2023 for $544,000.

Expect this trend to continue for the Evo II, even against market headwinds. The collector status of homologation specials, particularly those from the ’80s and ’90s, is becoming more firmly ensconced with each passing year. Demographics help that cause—72 percent of buyers seeking quotes for the Evo II are Gen X or younger.

Outrageous as it appears, the Evo II’s clinical execution offers a near-perfect drive that I won’t soon forget. This car sits at the confluence of rarity and experience, which has solidified its collector status without question—here’s hoping those fortunate enough to afford one don’t hesitate to put it to use.

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The post Driving the Brilliant 1990 Mercedes-Benz 190E 2.5-16 Evolution II appeared first on Hagerty Media.

In a collection featuring a number of early Chevrolets and Fords, this one stood out. Though it had been decades, I immediately recognized No. 64, a 1914 Chevrolet Series H-2 Royal Mail roadster, as the same car I saw proudly displayed in the showroom of Braeger Chevrolet in Milwaukee back in the 1980s. This early Chevy has a storied history, and is believed by the H Model Register Chapter of the Vintage Chevrolet Club of America to be the oldest complete Chevrolet in existence.

No. 64 is part of a Hagerty Marketplace listing of 26 cars from the collection of the late Nashville businessman, Robert A. Jones, and appears to have spent much of its life in the Milwaukee area before joining Jones’ collection in 2003. Its serial number, 64, indicates a build date of mid-August 1913, putting it at the beginning of the Series H’s production run. The model’s success would help secure Chevrolet’s future, and chart General Motors’ course under William “Billy” Durant as well.

Before delving into this particular Series H, it’s worth contextualizing the importance of the model itself. Former Buick co-owner and General Motors founder Billy Durant, along with Swiss émigré Louis Chevrolet, incorporated The Chevrolet Motor Company on November 3, 1911. Other partners included Chevrolet’s brother, Arthur, and investors William H. Little; Buick’s other co-owner, James H. Whiting; and Durant’s son-in-law, Dr. Edwin R. Campbell. Their first Chevrolet automobile came in 1912 in the form of the large, expensive Series C Classic Six tourer. It was just another car few could afford, however, and an inauspicious start, as only five Series C cars were built that year.

Along with the Series C, the group also offered a small car under a separate brand called Little. William Little had been a manager at Buick but started his own firm in Flint, Michigan, building “the classiest of all roadsters.” The Little Four, as this small car was called, garnered few sales—2199 for the calendar year—but its $690 price was at least in Model T Ford territory.  

The following year, in a further effort to kickstart the young brand, Chevrolet announced the 1914 Series H, based in part on the Little Four. Available in two cleverly named versions, the sporty two-door H-2 Royal Mail roadster ($795) and the stylish four-door H-4 Baby Grand touring ($850), these well-equipped cars were a stark contrast to the spartan $700 Ford Model T.

The Series H was powered by a 171-cubic inch four-cylinder powerplant designed by Arthur Mason, who created Buick’s famed “Valve-in-Head” engines years before. With an overhead valve design that produced 24 horsepower, Mason’s tidy four was so advanced it would be used until 1928, and it made the light and powerful Series H cars popular for fairground dirt track racing and hillclimbs.

In addition to the well-liked engine, the Series H also featured a conventional three-speed transmission—as opposed to Ford’s pedal-operated two-speed planetary gearbox—and was the first to display Chevrolet’s soon-to-be famous “Bow tie” logo.

With the Series H, Chevrolet began to find its footing, and Durant’s partnership with Louis Chevrolet was beginning to pay off. Chevrolet had designed and driven the famous “Buick Bug” racers for Durant and David Buick in 1909–1910, and Louis not only brought his mechanical knowledge to the new organization, but Durant also felt his name reflected the “French Type” small automobile he believed America needed. This all played into Durant’s bigger objective: To build enough equity to recapture General Motors, the emerging giant he founded in 1908 and subsequently lost in 1910.

Durant started GM when he merged the automaker he owned, Buick, with struggling Oldsmobile. Cadillac and Oakland (later Pontiac) joined the fray in 1909, as did truck manufacturer Rapid Motor Vehicle Company (later GMC) the same year. Wrote Durant, “I figured if I could acquire a few more companies like Buick, I would have control of the greatest industry in this country. A great opportunity, no time to lose, I must get busy.” Perhaps he got too busy. Durant almost bought the Ford Motor Company, too, but Henry wanted $8 million in cash, not stock, and GM was running out of cash. Durant had purchased 22 companies, including suppliers like the future Delco and AC Spark Plug, in less than 16 months. Fearing bankruptcy, on September 26, 1910, GM’s bankers had Durant removed. 

Undeterred, Durant continued his effort at automotive empire-building. A couple years of strong Series H sales was just what he needed—in 1916 Durant was able to offer five shares of now-attractive Chevrolet stock for a single share of GM. Headlines shouted “Chevrolet buys General Motors,” and Billy Durant was once again the leader of GM. Durant told an interviewer, “My advice to you and all others is to keep working… Forget mistakes. Forget failures. Forget everything except what you’re trying to do now—and do it.” 

More than 100 years hence, there are scant few examples of the car that helped turn Durant’s fortunes around. Time and attrition are natural factors, but add to that the fact that there weren’t many to begin with: The work of late historian, Ken Kaufmann, reveals that Series H production started slowly in 1913—five cars in July, 100 in August—and 5005 Chevys, mostly Series H cars, were eventually built for the 1914 model year. That No. 64 survived likely came down to how it got put to use.

A look inside No. 64 shows a brass tag on the dashboard that reads, “This Automobile is sold by Wisconsin Auto Sales Co.” in Milwaukee. An advertisement in the 1913 Milwaukee Press Club annual publication Once A Year and an another in the 1913 Wisconsin State Fair program places Wisconsin Auto Sales as the state-wide distributor for Chevrolet, and research suggests they sold No. 64 new.

The car appears to have been busy in subsequent years, at least judging by a photo in a 1951 book, The Oldtime Automobile by John Bentley. The image includes Mr. C.J. Hylton, service manager of Milwaukee’s King-Braeger Chevrolet dealership, standing alongside No. 64 (erroneously dated as a 1912 model), the car adorned with painted letters stating that it had been driven 216,000 miles. (That’s a lot of mileage even for a modern car, but Series Hs have been known to cover ground—a member of the H Model Register Chapter has a 1915 Royal Mail documented at traveling over 300,000 miles by 1933.) The car remained affiliated with King-Braeger for decades—the dealer subsequently became Braeger Chevrolet, the dealership where I first saw No. 64 around 40 years ago.

Kaufmann’s research of No. 64 places its assembly in mid-August of 1913, just the second month of Series H production. The car’s rounded cowl and “zigzag” windshield, taken from the Little Four, are further evidence of this car’s early build date, as later models switched to a Series H-specific design. Only two Royal Mails with these features are known to remain: Numbers 64 and 179.

Today, No. 64 presents cleanly in red and black over a black interior, and proudly wears a blue bow tie badge atop its radiator. Though it’s in need of some attention to make it fully roadworthy, the engine happily chugs away after a turn of its crank.

As to the claim of No. 64 being the oldest known complete Chevrolet, there is an older Chevy, a Series C Classic Six in the Reynolds-Alberta Museum of Canada, but it is not complete or restored. There is also a 1914 Series H in the GM Heritage Center known as “Old No. 1,” but the H Model Register Chapter makes it clear “it had a Little Six body fitted onto an H Model chassis and was the prototype for the H Model Baby Grand. It was an advertising prop for the company and not actually the first Chevrolet with a serial number of 001.”

Like a rock, the Series H is the foundation of one of the world’s best-selling brands. It’s not often that the oldest known example of the model that made the company (and in this case, influenced the early direction of General Motors itself) comes available. At a spry 110 years old, No. 64 is ready to represent the beginnings of the brand for years to come.

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The post This 1914 Series H Chevrolet Is a Piece of Rolling History appeared first on Hagerty Media.

“The GT-R is forbidden fruit, and you always want what you can’t have,” said photographer Larry Chen when we interviewed him last year about the impending import eligibility of the R34-generation Nissan Skyline GT-R. He’s right—Skyline GT-Rs have been highly sought-after in the U.S. for decades now, in large part because we couldn’t have them when they were new.

But what about the GT-R that was always available here? Often overshadowed by the enthusiasm for prior generations, the R35 GT-R is nonetheless carving its own healthy path to collector status, as this $160,750 sale of a Canadian-market 2016 Nissan GT-R Nismo highlights.

As with its predecessors, the 480-horse all-wheel drive 2009 GT-R used technology and brute force to put down supercar-like numbers and embarrass cars costing tens of thousands more. It bested the Porsche 911 Turbo around the Nürburgring with a 7:38.54 lap time, and numbers that were achievable by the average consumer said a lot, too: The GT-R regularly achieved sub-12 second quarter mile times and 0-60 sprints under 3.5 seconds. The GT-R’s brutal launches and racetrack poise brought to life the mythical status it achieved in video games, right here, in person, in North America. Finally.

While GT-Rs haven’t sold here in any great number, the enthusiasts who’ve come across them know how impressive they can be. From drag racing and roll racing to hill climbs and road course work, R35 GT-Rs continue to be a force to reckon with. Their 3.8-liter V-6 might not be as well-known as the RB26 that was found in prior-gen GT-Rs, but it’s hard to argue with the newer engine’s ability to handle well north of 1000 hp.

Nissan’s halo car received regular incremental updates after its introduction. Launch control software, suspension tweaks, stronger brakes, interior improvements, and regular power bumps kept the car ever-competitive, at least on paper. As they had done with prior-gen GT-Rs, Nissan injected excitement with added trim levels and special editions over the car’s life. After the Black Edition and Track Edition, Nissan introduced the NISMO Edition, the most brawny iteration to date.

On the exterior, the Nismo’s revised bodywork includes a front splitter, sills, rear wing, and bumper cover, while 20-inch Rays wheels add to the tuner look.

The looks were backed up with adjustable Bilstein dampers, stiffer springs, and revised roll bars, along with additional structural adhesive helped increase the GT-R’s already sky-high capabilities. On top of the cornering prowess, Nissan saw fit to add the larger turbos from its FIA GT3-prepped race cars, bumping horsepower 55 over the base car to an even 600. With these tweaks, Nissan’s engineers managed to knock a full 30 seconds off their original GT-R ‘Ring time—the Nismo managed a lightning-quick 7:08 lap.

According to our valuation team, this particular example comes in at #2 condition. With 3900 miles, it’s no wrapper car, but it is nearly new in just about every aspect. The Hagerty Price Guide values a #2 example at $162K, ever so slightly above this car’s sale, so it transacted just about on market. Commenters (and one of our valuation experts who tracks GT-Rs) noted that they’ve seen similar Nismos listed and selling higher, however. This likely comes down to variables rather than any sort of market trend—these cars got a visual update in 2017 that has proven popular, and of the colors available on 2015-2016 GT-R Nismos, Pearl White, while attractive, is by far the least rare.

That said, any R35 GT-R Nismo is rare indeed. According to GT-R Registry, over 2015 and 2016, only 82 Nismos came to the U.S. and 36 went to Canada, with 582 total being produced in that period. For comparison, 1582 Premium-trim cars were delivered to the U.S. in ’15 and ’16.

Its limited numbers are a large part of what’s driven the Nismo’s collectibility and values: its $162K #2 condition value is 73 percent higher than the Premium-trim GT-R’s #2 value of $94K. The Nismo’s values are on a more aggressive trajectory, too—it’s gained 26 percent over the last three years compared to the Premium’s 17 percent.

Ultimately, this tech-laden, modern rendition of Nissan’s recipe for speed hasn’t taken quite the same path to collectibility as its ancestors, but it’s gotten there just the same. Regardless of generation, though, special-edition GT-Rs continue to be a force in the ever-growing Japanese collector market.

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The post Unforbidden Fruit: This 2016 Nissan GT-R Nismo Sale Shows the Newer GT-R’s Trajectory appeared first on Hagerty Media.

Do you remember Zoom Zoom?

Maybe the more pertinent question is whether anyone’s forgotten it. Mazda’s joyous, playful slogan from 2001 to 2015 wormed its way into countless ears. It promised above all a pure, fun driving experience, and it was more than a cheerful jingle. During this period Mazda took Zoom Zoom to heart, filling their lineup with affordable cars that delivered serious sporting chops and unforgettable personality. None of them did so in a fashion quite as uniquely Mazda as the RX-8.

During its production, but even more noticeably in today’s turbo two-liter-dominated world, the RX-8 approaches nearly everything differently from other sports cars. That ethos is rooted in its engine.

Wankel rotary engines have been in Mazda’s DNA since 1963’s Cosmo prototype. Compact and powerful for its displacement, the engine intrigued several manufacturers but only took off with any real success at Mazda. The company continually improved the design, steadfastly sticking with it for decades. They placed it under the hoods of everything from the entry-level RX-3 to larger sedans like the Luce (known as the 929 in the U.S., though we didn’t get the rotary version), and, of course, three generations of the RX-7. For over twenty years, Mazda built its sporty identity around the rev-happy, punch-above-its-weight rotary sports car.

Though the RX-7 left the U.S. after 1995, Mazda had another rotary ride up its sleeve. Debuting stateside in 2004, Mazda went all-in: The RX-8’s rotary-themed personality was impossible to miss. Design elements of the nose, hood, tail, shifter, dash, seats, handbrake—just about everything references the engine. The athletic RX-8 isn’t beautiful like the final-gen RX-7, but no one would ever call the newer car derivative.

Underneath the curvaceous bodywork runs another bit of Mazda DNA: a perfectly tuned chassis. It wasn’t five minutes into my drive of this 2004 RX-8 (available on Hagerty Marketplace) that I felt fully attuned to the car and ready to push it harder. The sensation is incredibly familiar, like a longer-wheelbase, higher-threshold third-generation Miata.

There’s less body roll in the RX-8 than its smaller sibling, and the handling dynamics are sharp but not snappy—this is an inherently friendly, tactile car. These traits are amplified in this particular example, which benefits from a host of suspension upgrades from brands that will be familiar to anyone who knows a little about the Japanese tuner world—Tein, Racing Beat, and Mazdaspeed (Mazda’s in-house tuner and racing parts entity).

The 9000-rpm screamer of a 1.3-liter RENESIS twin-rotor engine pairs perfectly with this chassis and sounds like nothing else. That’s no exaggeration—a rotary wail, even through factory exhaust, is one of those notes that never stops willing you to push for the redline. And, short of SCCA classes that are friendly to RX-7s and RX-8s, you won’t find yourself in too many scenarios in which another car plays the same song.

If anyone asks how much power the RX-8 has, the proper answer is enough (238 hp). If they ask for the torque figure (159 lb-ft), you can pivot and compliment their loafers. (Those figures are for the manual-equipped cars; the automatics made do with 197 hp and a slightly higher 164 lb-ft of torque.) Truth be told, the car is quick, and from 4000 rpm on up there’s plenty on tap. In accordance with its Zoom Zoom roots, the RX-8’s power delivery gives you more than enough to balance the car with the throttle, but not so much that you think the car is going to bite you.

Inside, the priority on driving experience is apparent in the RX-8’s cockpit and controls. The steering is tight, communicative, and well-weighted; the shifter crisply moves between gears and is short in height and throw. The pedal box offers ample room, the pedals positioned perfectly for heel-toe work. The well-bolstered buckets naturally integrate a rotary-themed triangle hole in the headrest, and successfully balance effective cornering support and long-distance comfort. Ahead of you sits a simple triple-ringed gauge cluster that puts a big tach front and center, and an at-a-glance digital speed readout beneath.

Look past the shallow dashboard, and the car’s lithe proportions enable you to position it with confidence. In your periphery, though, the cabin can feel a bit bunker-like, with the car’s thick C-pillars hampering three-quarter visibility.

Overall, the cabin feels trim and hospitable. The plastics used in the RX-8 hold up reasonably well if they’ve been cared for. They’re of good quality (although there is a bit of piano black swathed on the doors and dash), and the dashboard layout is old enough that it doesn’t have any awkward and obsolete early-screen tech.

The RX-8 will happily accommodate a good-sized grocery run or luggage for a lengthy road trip. The backward-opening rear doors—another departure from sports car norms—provide good access to the second row of seats, which effectively serve as the primary storage area given the trunk’s petite dimensions. Whether its interior is too small or just right is a matter of perspective—the RX-8 will feel positively palatial coming from a Miata or S2000, but tight if you’re coming from a sport sedan. Just how much room do you need in a true sports car, anyway?

Like owners of most Japanese sports cars, those with RX-8s eagerly took to the aftermarket. As such, this is a corner of the hobby that doesn’t necessarily penalize modified cars when they come up for sale, provided the tuner parts are from a quality brand. If you’re looking at an RX-8, do your homework about any modifications, and when you drive the car, make sure it feels buttoned down—a thoughtfully modified RX-8 will bring out the best aspects of the car without sacrificing drivability.

With the oldest U.S.-market cars now 20 years old, the RX-8, once merely a used sports car, is now an emerging enthusiast collector car. In one key respect, that’s a very good thing—these cars appreciate an owner who will keep up on maintenance (making them not altogether different from revered sports cars that wear more prestigious badges). This means tending to the service schedule, checking the oil regularly, and changing/adding it at regular intervals—the RENESIS engine injects oil into its chambers to help lubricate its apex seals. It also means managing little quirks, like letting the engine warm up fully before shutting it down, and periodically—this one will be hard, I know—winding it all the way out. These engines do better when exercised.

Early cars encountered some issues, including failing ignition coils and catalytic converters, most of which would likely have been addressed on a surviving car. Later examples benefited from revisions to the oil injection system that helped increase longevity and accommodate owners who treat the rotary like a piston engine. If you fall in love with the RX-8 (and there’s a lot to love), find one with a solid stack of receipts, then get out there and enjoy it.

While the RX-8 is not yet in the Hagerty Price Guide, Hagerty does insure the model. Over the last four years, there’s been a steady uptick in inquiries, and average values continue to rise (to just under $14K in 2024) even as the market has receded. RX-8 buyers seeking quotes are predominantly millennials at 29 percent, followed closely by Gen X with 28 percent and Gen Z at 26 percent. Today’s buyers saw the RX-8 when new, drove it in a video game, heard that slogan, and have decided to understand for themselves what the excitement’s about.

Even with an SCCA-prepped Miata in my barn and thousands of hours in Mazda products from this era, my drive in this RX-8 was a welcome refresher on what Mazda meant with Zoom Zoom—it was a reminder of how much personality and execution matter. The RX-8 is a car for anyone who values character and loves a good dance partner, and it still lives up to the promise of Mazda’s memorable slogan.

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The post Nothing Represents Mazda’s Zoom Zoom Era Like the RX-8 appeared first on Hagerty Media.

Toyota had a minor hit on its hands when it introduced the MR2 sports car for 1985. With 112 hp from a 1.6-liter four, the 2300-pound, sharp-edged, mid-engine wonder was quick, agile, reliable, and affordable—all winning ingredients—and it was unanimously lauded by the motoring press and buyers alike. A 145-hp supercharged version available for 1988–89 offered even more smiles per dollar.

When the all-new Mk II arrived for the 1991 model year, it traded creases and corners for a smoother look, and it, too, quickly became a favorite among thrifty driving enthusiasts. The Mk II, or SW20, outweighed its predecessor by anywhere from 300 to 600 pounds but in return got a bit more luxury, sturdier components, and larger engines. It was also just a bigger car, adding nearly 9 inches in overall length and more than an inch in width. The base engine was a naturally aspirated 2.2-liter four shared with the Celica and Camry, which made 130 hp and 145 lb-ft of torque and came paired with either a four-speed automatic or a five-speed manual. The sexy option was a twin-cam turbocharged 2.0 liter making a nice round 200 horses and 200 lb-ft, with a five-speed stick the only transmission.

The beauty of the MR2 of (so named for its Mid-engine, Rear-drive, 2-seat configuration) is its underlying Toyotaness. It may look exotic, but it’s not. It’s not poorly made, and not fragile, either. If driven with care and properly maintained like any responsible adult should, there’s no reason not to get an indefinite amount of miles from one. Which, coincidentally, brings us to our Sale of the Week.

This naturally aspirated, 292,000-mile 1995 Toyota MR2 sold earlier this week on Bring A Trailer for $18,112, including fees. Curiously, the last MR2 to sell on the platform, a 1991 Turbo with just 76,000 miles that traded hands on March 22, did so for the remarkably close sum of $18,637. What’s up with that? Why would two stock MR2s, separated by four years of production, 70 horses, 216,000 miles, and two weeks in the market change hands for the same money? Probably because life makes no sense sometimes.

Then again, the bidders interested in our Super White subject car, owned all its life by one family (and by “the dad” for 27 of those 29 years) were clearly impressed by the care lavished upon it all this time. Rarity would seem to be at play, too: In 1991, Toyota sold nearly 4400 MR2 Turbos in the U.S. In 1995, the final year of availability, just 163 normally aspirated cars sold here.

The seller, the son of the car’s longtime driver, was full of praise for the way his dad babied this thing, and the photos—outside, inside, and underneath—all depict a car that belies such heavy mileage. “Shout out to my dad, who appreciates all things mechanical and treated this daily driver very well,” he wrote in the comments, going on to note that the paint is all original and has never even seen a touch-up, and that his dad replaced the timing belt every 60,000 miles. “He installed heavy seat covers on the original upholstery on Mile 6, and he has always kept the engine oil looking like golden honey.” Also, crucially, “no slurpies capsized on the interior” and there are “no petrified chili cheese fries stuffed under the seats.”

Recent-ish work to the car includes a head rebuild in the last eight years, with new engine mounts, valve cover gaskets, and clutch components in 2018, as well as a brake master cylinder replacement, new Kumho tires, an A/C recharge, and spark plug replacement in 2022.

As daily drivers go, this MR2 lived its best life as a commuter on back roads through a SoCal canyon—Highway 241 from Rancho Santa Margarita to Riverside—where it was then parked each day in a warehouse. Dad was an avid weekend skydiver, it seems, and “the trunk was a perfect size for his parachute gear.” Talk about the perfect vehicle for a quite specific use case…

There are of course flaws present (how could there not be?), but we’re talking small scuffs to the driver’s side door handle, some marred paint in the well for the spare tire, fraying in the trunk lining, and a few odd lines in the material of the dash on the passenger side. Oh, and the original key, while included, is useless, “worn down to the nub from 40,000 ignition twists.” But you just know that Dad saw to that: “The ignition was replaced and keyed to the door handles with two new keys about 10 years ago.”

Given its overall condition, this MR2 sold right where we’d expect it to; call it #3+ condition. There is so much to like about this car, beyond its totally ’90s pop-up headlights, T-top roof, and slim spoiler. That it was adult owned by an enthusiast who loved to drive it and appreciated its quality enough to keep it near-perfect, despite such incredible use, makes it an even rarer example of an already rare car. For those unbothered by mileage, it’s a great poster car. For its lucky new owner, like some commenters on the sale noted, we hope it’s only a short time before you get to slap on the 300,000-mile sticker included with the sale, and then keep on going indefinitely.

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One can argue that Porsche’s modern era kicked off in 1985, with the debut of the 959. What started as a complex, tech-heavy pursuit of Group B rally glory ultimately yielded the most advanced supercar yet seen on the road. And it founded a lineage that later included the 911 GT1, Carrera GT, and 918 Spyder. Less recognized, however, is the link between it—an unprofitable ‘80s moonshot—and the brand’s 21st-century commercial success. Whether Porsche’s ardent air-cooled enthusiasts like it or not, that line traces straight through an unlikely hero car: the Cayenne SUV.

The 959 forever altered the automaker’s approach to cutting-edge technology. Its development armed the company with essential knowledge and expertise that, unbeknownst to the racing engineers working on it, would make sports-car-focused Porsche into one of the world’s most successful makers of luxury utility vehicles. The Cayenne’s success in the early 2000s, by many accounts, built the company we know today.

Rally beginnings

In the 1980s, however, Porsche’s goal for the 959 was to create a dominant Group B rally car, and, via homologation, re-establish the 911’s image after the 928 proved an unpopular successor.

Group B’s wide-open rule set encouraged bleeding-edge tech, which resulted in participants employing ever more complex systems in pursuit of victory. Most memorable in this arena was Audi’s Quattro system, which forged that company’s identity and proficiency with all-wheel drive as the brand expanded worldwide. Porsche sought the same route, choosing to lean heavily on innovation for its halo car rather than tried-and-true performance-enhancing regimes like shedding weight (Ferrari F40) or brute force (Lamborghini Countach).

Quattro let Audi rule the Group B roost after its introduction in 1980. Other competitors weren’t lacking in successful recipes, either—Lancia’s brutally quick Delta S4 used a supercharger paired with a turbocharger to reduce boost lag and pump out up to 1014 horsepower in full-wick competition spec. With these future adversaries in mind, Porsche found that its Type 930 Turbo’s engine simply wasn’t up to the task and returned to the drawing board. In order to hit performance targets reliably, Porsche fitted water-cooled four-valve heads to an air-cooled 2.8-liter flat-six block. And that complexity was just the beginning. 

Porsche had experimented with similar systems for the 956 and 962 endurance cars, but those races prioritized higher engine speeds than ideal for rallying. For the 959, which would need equal parts low-end shove and high-end horsepower, Porsche landed on a solution: twin turbochargers equipped with valving that first engaged the left bank’s blower and then cut in the right side’s around 4000-4500 rpm.

Final homologated ratings of 444 horsepower (SAE) and 369 lb-ft for the road-going 959 only tell part of the story, since 300 of those foot-pounds arrived by 3000 rpm with just the single turbo pushing boost. Competition cars reportedly ratcheted that output up to and beyond 600 horsepower. Effectively harnessing so much grunt on relatively primitive tire compounds required further innovations to Porsche’s existing drivetrains. 

The 911’s up-and-coming G50 transaxle—which would debut in road cars for 1987—provided the 959 with two more gear ratios than with the 930 Turbo’s four-speed. It also permitted fitment of a multi-plate clutch system capable of electronically locking to send power to the front differential. Under normal driving conditions, an ECU estimated the car’s weight transfer by measuring the rate of acceleration based on engine output and gear ratios, then an algorithm determined how much torque the front and rear wheels should receive. (The driver or navigator could also lock all three differentials from the cockpit with the push of a button.)

That weight transfer also depended on the 959’s advanced suspension system. The 959 employed coil springs paired with electronically adjustable shock dampers, as well as hydraulically powered adjustable ride height pistons that allowed for the selection of 4.7, 5.9, or 7.1 inches of ground clearance. The dampers themselves used tiny motors to adjust valving that regulated fluid flow and firmness. 

This drivetrain and suspension combination allowed the 959 to crawl over off-road obstacles with the chassis lifted as high as possible and while using an extremely short 3.50 “Gelande” first gear ratio. (Gelandewagen uses the same German word for “terrain.”) At the opposite end of the spectrum, with the suspension lowered and firmed up, the road-going versions of this rally racer set a new production vehicle world record of 211 miles per hour while achieving up to 0.87 g of lateral grip thanks, in part, to novel Bridgestone run-flat tires.

By the time the 959 approached anything near competition readiness, however, the FIA had already disbanded Group B due to a series of high-profile fatalities. Porsche pivoted, instead taking the new car to the Paris-Dakar Rally—quite possibly the most difficult racing challenge on Earth at the time. At this same event, in 1984, a highly modified 911 variant known as the 953 had proven quite potent. After an abysmal first year in 1985 (all three 959 entries dropped out), another 959 trio achieved a first-second-sixth finishing order in 1986. Porsche’s tech-driven supercar had proven its off-road racing cred and presented to the world a fresh take on how to build a halo vehicle.

Porsche Pivot

After investing so much into the 959’s all-around capabilities, Porsche then began sprinkling those developments into its more pedestrian offerings. The 1989-94 964-generation 911 received a similarly complex four-wheel-drive system on the base Carrera 4, while the 1994-98 993-gen 911 Turbo then mated AWD to a pair of turbos capable of wringing 450 horsepower from a 3.8-liter air-cooled flat-six. 

The ill-fated attempt to replace the 911 with the front-engine 928, along with struggling sales of the entry-level 924/944/968, left Porsche desperate to right its financial ship. The 964-generation 911, more or less a stopgap measure between the older G-body models and the eventual 993 generation, arrived in the midst of a weakened dollar-to-Deutsche Mark exchange rate. As seven years of 964 production crept by—with only 63,762 cars sold—Porsche knew it needed to pivot. As it began taking steps that would lead to folding the family firm into Volkswagen AG’s conglomerate, Porsche also began to evolve its product line.

The 959’s use of water-cooled heads was a departure from the fully air-cooled engines that helped define the marque’s top cars, and they helped pave the way in the late-1990s for fully water-cooled M96 engines that ultimately powered the 986 Boxster and 996-generation 911. Component sharing and serial production during the new water-cooled era began to turn Porsche’s financial tide, but the company still needed more than a range of niche sports cars to remain viable in the 21st century.

Despite knowing that it would send purists into a fit, Porsche moved forward with its solution: creating an SUV. The existing BMW X5 and Mercedes-Benz ML-Class were already capitalizing on a new, growing segment of the American market, and Porsche was clear-eyed about the financial opportunity. Sharing a platform with Volkswagen’s Touareg and Audi Q7 would help spread the considerable development costs over a broader base and enabled Porsche to make this step into the new era, but the brand knew it’d have to spice up its offering with a more sporting identity to set it apart from its platform-mates and other competition.

To successfully imbue its personality and capability on- and off-road into the Cayenne, Porsche applied much of the same tech-heavy strategies it did with the 959. The Cayenne employed a dry-sump oiling system that mitigated oil starvation at odd angles while off-roading, a set of electronically disconnecting front and rear sway bars were available as part of the Advanced Offroad Technology Package, and the Cayenne Turbo model received an air suspension system that allowed for five positions of adjustable ride height. Sound familiar? Porsche’s predilection for, ahem, intensive engineering even resulted in water cooling for the Cayenne’s alternator.

As with the 959, Porsche didn’t forget the influence of racing success on its customers. Also, the Cayenne, which was on its face a non-traditional Porsche product, stood to gain some credibility through success in motorsport. With that, Porsche focused on the 2006 Transsyberia Rally, a 10,000-kilometer-plus event that ran from Berlin to Moscow, then across Russia and Mongolia. 

At the event, Cayennes equipped with minimal modifications—shorter final-drive ratios, intake snorkels, and safety equipment—took first and second place. Those race vehicles even used the Turbo’s adjustable air suspension system rather than steel springs, demonstrating Porsche’s faith in the durability of its solutions.

Not since the 959 did a Porsche model exhibit such a broad performance envelope. And with that win, the brand executed its objective of creating an SUV on its own terms. Period reviewers, who weren’t particularly warm to SUVs as a whole (some of us are still coming around—Ed.), acknowledged as much, though they wished for a greater degree of on-road sporting characteristics and lamented the Cayenne’s weight, which, at over 5000 lbs, was a consequence of its complex engineering. Dan Neil, writing for Car and Driver in its August 2003 issue, put it thusly: “It is the fastest production SUV on the planet, and it has more off-road chops than Sir Edmund Hillary. It’s sure to be a huge status codpiece in South Beach and Beverly Hills. It is the ‘Porsche of SUVs.’ We had hoped for a little more Porsche and a little less SUV.”

While the automotive press may have couched its praise for the Cayenne with caveats, the SUV seemed to suit the public just fine. Porsche sold 20,603 Cayennes in 2002, and 2003’s 39,913 sales equated to more than 52 percent of Porsches produced that year. The company hasn’t looked back—together, the Cayenne and its mini-me Macan sibling are the brand’s sales leaders. Their massive success, many argue, ensures continued investment in low-volume sports cars like the 918, GT4 718s, GT2/GT3 911s, and 911 S/T.

Had Porsche not gone down the Group B rabbit hole, history could have unfolded very differently. When it came time to create its first SUV, the company already possessed the experience, the technological chops, and the ingrained engineering approach to build a multi-purpose, all-wheel drive vehicle that didn’t just genuflect at the “Sport” in Sport Utility Vehicle. The 959 forged a new competency for the brand, and the Cayenne leveraged that success into a profit machine. It may not appear so on the surface, but the 959 and the Cayenne are cut from very similar cloth.

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Old pickups are still having their moment. They’re increasingly appreciated as usable classics, and their values are generally up and steady, in contrast to the swift rise and subsequent retreat that’s befallen some collector SUVs. At $23,625 including fees, this 1978 Dodge W150 Power Wagon sale shows the health of the overall collector pickup market, and suggests that Dodge might have a value edge compared to its Ford and Chevy contemporaries.

Sitting atop 32-inch tires and wearing a recently added Macho graphics package and black accent wrap, this ’78 looks period-perfect and ready to enjoy. The seller reports that he bought the truck from its original owner, and that the 63K miles on the odometer represent the actual figure.

W150s featured full-time four-wheel drive, and as a consequence, they often ended up as plow vehicles or living a similarly work-oriented life. Many rusted away, but careful attention over the years enabled the survival of this example. The cab mounting points and floor pans are particular weak points on this model, but listing photos show the former in good shape and the latter having been addressed. Minor rust appears on along door edges in photos, but none of it looks concerning.

Under the hood resides a 318-cubic inch, 145-horse V-8. Dodge offered a wide variety of power plants in these third-generation pickups, and while this one isn’t the strongest, it should be plenty for tooling around and hitting the occasional trail.

Inside, the rig is outfitted with niceties like split seats with a fold-down armrest, a tilt steering column, and carpeting. (Having spent a fair amount of time working on my cousin’s W150, I was immediately smitten with these fancy accoutrements—we’ve added carpeting to his truck, but I’m going to see if we can find these seats somewhere.)

Our valuation team rated this Power Wagon as a solid #3 (Good) condition truck, the kind that would be right at home putting on miles while still looking good at a local show. This sale beats the corresponding Hagerty Price Guide condition value—$14,600—by a solid $9000, showing how a properly preserved vehicle with attractive options can still fetch a very healthy price, even in a slower market.

Compare this Dodge’s transaction with the condition values of similar Fords, though, and $23K starts to look like a steal. A #3 ’78 F-150 half-ton 4×4 comes in at $27,200—the strongest number among comparable trucks from the Big Three.

Chevy’s K10 half-ton is a more earth-bound $17,400, square between this Dodge’s condition value and its sale price. Is this Power Wagon worth $6K more than the Chevy? Your answer might depend on what camp you’ve chosen, but given the Mopar’s extra visual punch, the premium isn’t surprising.

This macho green bruiser managed to thread a valuation needle—it outperformed its fellow Dodges and came in under the market-leading Ford. Twenty-three grand isn’t cheap, but it’s still a solid entry point for a collector vehicle. Let’s hope the new owner enjoys it, and takes a few photos in a similarly attractive setting.

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Usually, when the Mustang and Camaro find themselves in a story together, they’re duking it out in a head-to-head comparo. This time, though, we don’t plan to spend too much time pitting them against one another. Instead, we’ll explore how their trajectories—from when they were hot new pony cars, to affordable used performance cars, to emerging classics—provide context for how we think about collector cars and their values.

Back in 1987, the Camaro IROC-Z rolled out an optional 5.7-liter, 225-horse L98 V-8 to combat the top-dog Mustang GT, which featured the same horsepower figure from its 5.0-liter V-8. The Chevy’s MSRP came in around 18 grand, depending on how many boxes you ticked, while the Ford dealer asked you to fork over a more frugal $15,000 for its GT pony. Those numbers may sound cheap, but in today’s dollars, they equate to nearly $50K for the Camaro and just over $41K for the Mustang.

Then, of course, came depreciation. Both models sold well, meaning rarity wasn’t a factor in their values on the secondary market. Also, people flogged them as intended, and a market heavy with well-used examples drove overall values down. What’s more, while all that stoplight tomfoolery was taking place, inflation silently marched on. The IROC and GT got cheap—seriously cheap, when compared to their original MSRP.

That brings us to the first point: Inflation doesn’t sleep. Collector cars can be a good investment from the right point in time, but that point is rarely ever when they’re new. This is especially true for cars that were produced in significant numbers, like the Mustang and the Camaro. (It’s not a universal truth, but even the Ferrari 250 GTO was comparatively “cheap” at one point.)

As we all know, if you wait long enough, factors can conspire to bring values back up: Time winnows the number of excellent-condition vehicles on the road, and buyers who lusted after the car that ruled their high-school parking lot get to the point where they can afford a pristine example. As the above chart shows, though, the value boost doesn’t typically happen overnight—even for two shining examples of storied nameplates.

With that in mind, the inflation-adjusted MSRP gives us another metric to assess current market value. Is $25K for a ’93 Mustang considered expensive? Or is it actually a good value? People will answer those questions differently, but if that $40K+ itch you wanted to scratch 37 years ago is available at a discount, even a shrinking one, that car for that price is still an appealing proposition.

And now for a little bit of comparison: Against inflation, the two cars have fared similarly over the last four years. Back in January 2020, the Camaro was worth 55 percent of its inflation-adjusted MSRP; today it sits at 88 percent of that number, an increase of 33 percentage points. The Mustang moved 30 points, having sat at 28 percent of adjusted MSRP four years ago compared to 58 percent now. Measure from a decade ago, though, and the IROC has gained considerably more than the GT.

The IROC’s stronger trajectory, and the fact that it’s close to crossing over its adjusted MSRP value, suggest that between these two, it was the first to cross from used car to collector car. (The pace of that transition speaks to the car’s appeal, but its unfortunate effect is that a good one is getting tougher to afford.) The Mustang, on the other hand, still represents better value in real dollars, and relative to its initial cost.

Regardless of which side you’re on, comparing against inflation-adjusted MSRP does provide a solid visual for how these ’80s warriors are maturing into revered classics.

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The Pontiac G8 GXP didn’t get the 15 minutes of fame it deserved. In fact, it barely got a chance to bow and make an introduction before the spotlight was switched off and the curtains dropped. But for those paying attention, its time on stage was a marvelous moment of four-door V-8 glory.

Those who still remember and appreciate the G8 GXP take notice when one of the 1829 units produced comes up for sale, and for good reason. Fast, engaging sport sedans had long been the purview of German manufacturers, but beginning under Bob Lutz’s tenure in the early 2000s, General Motors decided to try its hand in the segment. Cadillac’s CTS and CTS-V emerged, and then Lutz announced that Pontiac, too, would be getting in on the game. GM’s Australian subsidiary Holden would reskin its ground-pounding Commodore and export it to the U.S. as the Pontiac G8 starting in 2008. With 415 horses from its 6.2-liter LS3 V-8, an available six-speed manual, and excellent handling, the G8 GXP was the ultimate iteration, and it debuted to strong accolades.

“The 2009 Pontiac G8 GXP is just the sort of four-door Corvette Americans have long prayed for, with sharp steering, fabulous response from the four-piston Brembo brakes, exceptionally balanced and neutral handling, and a simple and classy look to the interior layout and trim—all for a price that undercuts that of a comparable BMW by $20,000,” glowed our own Aaron Robinson, writing for Car and Driver in November 2008.

Robinson went on to add that he wasn’t sure that this car, or even GM itself, would be around much longer, and as such, fans of capable sedans shouldn’t dawdle on their way to the Pontiac dealership. It was announced a scant five months later that Pontiac would soon shutter.

Given their limited sales, G8s of any kind are a rare sight, but the GXP’s ultra-short run means they come up with even less regularity. As a result, those of us who have soft spots for the General’s fast, understated sedans perked up when this example, a 67k-mile manual-transmission car owned from new by Richard Griot of Griot’s Garage, got listed on Bring a Trailer. Selling for $31,237 including fees, it shows as a clean, well-maintained example.

The car presents nicely inside and out, with gleaming black paintwork over a black and red interior that appears to be in excellent condition for its age (hardly a surprise, given its original owner’s business). A stack of receipts from late 2023 documents new fluids, plugs, tires, brakes, alternator, battery, valve cover and oil pan gaskets, and more. To seal the deal, its Corsa mufflers made for a properly aggressive tone in the driving video.

At 67k miles, this isn’t an example you keep cooped up; and with all that recent work, it’s ready to be driven and thoroughly enjoyed.

This car can trace its existence to Lutz himself, and not just for the GM boss’ decision to bring the model up from Down Under. Included in the photographs is a copy of an email correspondence between Griot and Lutz regarding initiating the order of the car.

At $31k, this G8 GXP landed a little north of its #3 (Good) condition value, right about where we’d expect for a very nice example with this mileage. The six-speed manual carries a 15% premium. Good luck finding one—only 846 were made (regular G8s and V-8-equipped G8 GTs only came with a six-speed automatic). Also, these cars never got truly cheap—we do rate #4 (Fair) condition cars at $17,200, but we’ve observed that a lot of these G8s, especially the GXPs, have been very well-maintained, and therefore regularly transact around where we saw this one sell.

Generally, these cars went to enthusiasts who picked them up for at least one of two reasons: First, they really understood what a performance gem they were, and kept them in fighting shape. Second, they saw the writing on the wall for Pontiac and wanted to get the last great V-8 car from the brand, and preserved them as a matter of pride. As a result, it’s often mileage more than condition that appears to be the primary factor in the sale price of G8 GXPs.

Ultimately, Griot’s GXP ticks a lot of boxes. It’s a poignant last hurrah for a storied American brand known for performance. It’s a perfect blend of condition and mileage—something you could drive proudly and frequently. And boy, will it put a smile on your face when you do. Well sold, and well bought.

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Ask enthusiasts the first thing they think of when they hear “Dodge Charger,” and they’re bound to mention Hellcats or reference the 1968-70 second-generation cars, which were popular in their own right before securing everlasting fame through starring roles onscreen in Bullitt and The Dukes of Hazzard. Chances are slim, though, that the first-generation Charger would come up among any but the most die-hard Mopar fans.

It might be well-hidden in the shadows of the high-flying second-generation and 700+ horse modern siblings, but when properly equipped, the first Charger was able to hold its own on street while offering up design elements and an interior that set it apart from other intermediate-sized muscle of the period. Today, the first-gen car is more affordable and more rare than its more popular ’68-70 successor, and provides a chance to differentiate from what’s become the Charger mainstream.

In the early ’60s, Dodge was looking to liven up its image, and to showcase its upcoming 426-cubic inch Hemi engine. The 1964 Dodge Hemi Charger concept was born, a two-seat roadster built off an existing two-door Polara. Unfortunately, the Hemi suffered from some early production issues, so the car didn’t get one in time for its national tour. It did, however, succeed in creating some buzz for the brand.

That same year, Plymouth rolled out its Barracuda, which was immediately overshadowed by Ford’s launch of the Mustang. Eager to get in on the game, Dodge sought a smaller, youth-oriented model of its own based on the Barracuda, but parent Chrysler Corporation said no—it’d have to make do with an intermediate-sized model instead.

While plans for that car began to get underway, the Charger nameplate first graced a production model in 1965 as a sporty trim level on the “senior compact” Dart. Only 480 Dart Chargers were made, all in yellow (although there is some evidence that one silver car exists), all sporting 273-cubic inch V-8s. In an era when cars received constant visual updates, the Dart’s 1963 redesign was already showing its age, so Dodge teased the upcoming model’s new look with the Charger II concept ahead of the production car’s unveiling.

Come 1966, Dodge finally got its sporty coupe. The new Charger was based on Coronet underpinnings and shared much of its front bodywork (along with suspension and brakes) with that model, but was set apart by a striking, large fastback, hidden headlights, and a clean full-width taillight. The swept roofline was distinctive and eye-catching among the more mundane three-box intermediate-size designs of the time, though its looks wouldn’t be considered as sleek, or ultimately as brand-defining, as its 1968 successor.

Beneath that roof, Dodge went upscale, sporty, and practical. The Charger’s instruments—four large, blue-backlit gauges—were an exciting change from single-sweep speedometer found in the Coronet. It utilized bucket seats front and rear, along with a center console that stretched the length of the seating area. (The console size would be reduced the following year to help with ingress and egress). Rear buckets weren’t a regular occurrence back then, and they helped separate the Charger from more pedestrian intermediate coupe offerings. Like other fastbacks that were emerging around the same time, those back seats and rear console could fold down, creating a substantial cargo area over seven feet long—Dodge even called it a sports wagon in its advertisements.

Under the hood, Dodge offered a spread of V-8s: an entry-level 318-cubic inch mill, a 361, 383, and the range-topping 425-horse 426-cubic inch Hemi. All but the 318 (which came with a three-on-the-tree if you wanted a manual) could be had with a console-mounted four-speed manual; the Torqueflite three-speed auto was available across the whole lineup. In 1967, an additional 383 replaced the 361 and a 440-cubic inch engine was added.

Car and Driver was nonplussed with a 383-equipped Charger they reviewed in their February, 1966 issue, stating, “[t]he Charger is a good automobile, make no mistake about it, but we had somehow expected more when we first got behind the wheel. Maybe it’s because the sporty styling conjured up the fantasy of all sorts of exotic engineering underneath.”

The review has a point—the Charger was effectively a dressed-up Coronet, but, at least on paper, the strategy wasn’t all that different from Ford’s formula for the Mustang, and everyone knew how that worked out. On paper and in execution can be two very different things, however, and like Car and Driver, the public showed only a modest interest in the Charger. Only 37,344 units moved in 1966 and a mere 15,788 sold in 1967.

Dodge was quick to cure this sales flop, though—the 1968 redesign was an instant hit, sending sales flying to 96,100 units. Along with the more attractive—if less daring—bodywork, Dodge simplified things, too, ditching the rear buckets and their folding mechanism, carpeted storage area, and other interior characteristics intended to frame the Charger as a more premium offering.

The public’s muted response to the first-gen Charger back then is reflected in its values as a collector car now, especially relative to the second-gen car. A ’67 with the vaunted 426 Hemi comes in at $119,000 for a #2 (Excellent) condition example; a ’68 in the same condition with the same engine is $39k more. For less powerful engines, the delta is less drastic—there’s a little more than an $8k difference between the ’67 and ’68 high-performance 383s, for instance—but it is present across the board. All first-gen Chargers experienced a valuation bump during the pandemic, but they have stayed flat since.

Despite playing second fiddle, our data show that first-gen Chargers are seeing an uptick of among Gen X and Gen Z, and quote count overall is steady. Value trends and quote count paint the picture of a collector car with a limited but committed audience.

Given modern standards, no potential buyer would be disappointed by the lack of performance differentiation between the first-gen Charger and the more plain Coronet—people buy this car because they appreciate the experience it provides. Dodge took a chance with this initial Charger, and although they ultimately had to make corrections to ensure the its viability, the ’66-’67 model remains an intriguing and thoughtfully created classic. The handsome if imperfectly proportioned design either appeals or it doesn’t; and along with its more upscale and specialized interior, it’s very much a different kind of car than subsequent models. If you’re looking for a Mopar model with a little more flair, or a Charger that marches to a different tune, the first-gen Charger might be right for you.

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Even if your tastes tend toward other eras, it’s hard to dispute that the 1950s, ’60s, and ’70s produced some of the most memorable machinery in the history of our hobby. That time period had just about anything an enthusiast could ask for: Design, innovation, experimentation, and, of course, variety.

British sports cars, ’50s fins, muscle cars, the dawn of Porsche’s 911, a heyday of passionate Italian models, the birth of the SUV, the characterful beginnings of Japanese cars … the list could go on nearly indefinitely. That array largely explains just how dominant that era is when it comes to what people choose to spend their money on.

Tallying up the sales from the last five years of online and live auctions, we find that 14 of the top 20 highest-grossing model years were within the 1955-1975 window. Vehicles made in 1967 and 1969 led the way, with each of those model years raking in more than $500M.

Breaking down the raw numbers, this 20-year period represents 16 percent of the model years considered but accounts for more than 39 percent of the $15B+ spent on collector cars from 2019 to now.

This era is also home to the greatest density of the most valuable cars. Twenty-two of the top 30 most expensive cars ever sold at auction were produced within this timeframe. Couple these high fliers with the sheer quantity of more attainable classics from this period that remain incredibly popular, and there’s yet another reason why this era’s momentum makes sense.

(Note: We always appreciate the thoughtful commentary provided by our readers. In response to a comment below, we’ve added this subsequent description and chart.—EE)

With consideration to the fact that some recent sales of truly expensive machinery may have outsize influence on overall sales numbers in the above chart, and to get more into the meat of the curve of each year’s numbers, we lopped the top and bottom 10 percent of sales from each year’s total. The outcome is very similar—peak years shift slightly, but the thrust remains the same—this twenty-year period is the strongest in the hobby. (As an aside, our analysts did not seek out the mean sale price for each year—another suggestion from our commenter—as that begins to get into a discussion of values as opposed to where people are spending their money. Your author tends to agree with the commenter that ’80s and newer models would factor more strongly in that equation, but we digress).

One of the most frequently discussed questions in the industry is whether enthusiasm for these cars will flag as generational preferences evolve. While it is possible for once-illustrious models to lose their stature and become more affordable, values are likely to taper more dramatically for models on the fringe of collector status: For instance, enthusiasts younger than baby boomers don’t value the Pontiac LeMans the way their predecessors did, but the GTO is still a blue-chip car. More broadly, however, mature market segments tend to stabilize and become less volatile over time. (We’ve observed this phenomenon with prewar cars.) Also consider that because the 1950s–70s has stood as a megalith in the hobby for so long, its staying power will protect it from quickly fading.

If anything, other segments may come up to similar heights. McLaren F1s continue to be talked about as the next Ferrari 250 GTO, and as demonstrated in the above chart by healthy sales of cars from the ’90s to today, the rise of one era does not necessarily have to come at the expense of another.

So, just like the local classic rock station that occasionally sprinkles a Soundgarden or Nirvana song in the mix of Led Zeppelin, Rush, and The Who, there might be a few new additions, but you can rest easy—the originals aren’t going anywhere.

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For decades, the concept of complete restoration has been considered the ideal form for the best cars in the collector car hobby. The notion of preserving cars—keeping them as original as possible, or in their in-period as-used state—may have been pioneered by the likes of Briggs Cunningham in the mid-twentieth century, but it really only gained traction within the last 25 years. Preservation classes are now welcome on the concours lawn, but for the most part restored vehicles still command the most value. There are, of course, exceptions to the rule: Two strong sales of Ferrari Daytona Spiders at the Amelia auctions uncover a scenario in which preservation ruled the day.

Before diving into the subject cars, some context: the Daytona has long been a mainstay of the Ferrari collector market. As the last two-seat front-engine V-12 car till the 550 Maranello’s 1996 debut more than 30 years later, the Daytona was the ultimate iteration of Maranello’s brawny, traditional-layout GT car. It also stood at a pivot point for the brand, using the classic long hood, short deck sports car architecture Ferrari road cars were known for up to that point while also stepping toward the angular, fresh design cues of the budding supercar ’70s. As a result, the Daytona sold well when new and was quickly welcomed as a collector car when the Ferrari boom gathered steam in the late ’80s.

Correspondingly, the market put a premium on Daytonas, particularly the 121 factory-built Spiders. Later models tend to be more prized, and at $2.35M for a #2 (Excellent) condition 1973 example, the Spider is about 3.5 times as valuable as its tin-topped sibling (in large part due to the high count of coupes made—1284, which was a lot for a Ferrari of the era). Prices for both have retreated slightly in the last few years, but the rarity of factory Spiders has helped maintain their status among Ferrari collectors.

While Daytonas of any kind aren’t auction stage regulars, Spiders naturally show up less frequently than coupes. This year’s Amelia auctions were graced with two. Broad Arrow featured a meticulously restored, well-optioned 1973 example, while Gooding brought a supremely-preserved 1972 car that, aside from a 2015 repaint in its ultra-rare original Verde Bahram hue, was incredibly original and showed just 7827 miles. Both sales were strong, each handily exceeding the $3M mark—well above the #1 condition Hagerty Price Guide values for each, to say nothing of their condition-appropriate values. But the preserved ’72 nabbed 10 percent more—about $330,000—when all was said and done.

It’s certainly not for anything lacking on the part of the restored car, Broad Arrow’s 1973 Daytona, which sold for $3,305,000 including fees (about $1M over its #2 condition-appropriate Hagerty Price Guide value). Completed in 2018 and wearing a respray of its original shade of Blu Dino Metallic paint and a completely new interior, the car received a thorough mechanical and cosmetic renewal.

It ticks the boxes that collectors look for, too—the car is Ferrari Classiche certified, features sought-after options like a Becker Mexico stereo, and retains its manuals and tool kit. Post-restoration hardware includes a Best in Show at the 2018 Concorso Ferrari in Palm Beach, Florida, and an Amelia Award in the Scaglietti Production Class in 2020. According to our analysts, aside from very minor details like slight fogging on the gauge lenses and hints of use on the interior (use is never a bad thing, of course, but any wear is noted when our team grades a car’s condition), this Daytona was a near-poster-child pristine example of a recently restored car.

Gooding’s ’72 Daytona might not have had the restorative attention received by the Broad Arrow car, but its appeal lies in that it’s not only one of the very few near-original Spiders that remain, it’s in very good condition to boot. Our analysts rated it as a #3 (Good) condition car, noting that it appeared as a quality example showing some age. The sole update, a 2015 repaint to its original green from a previous black respray, had some minor spidering on the hood, the bumpers showed slight scratches and pitting, and the engine bay needed a thorough cleaning. Inside, the original seats and dash are in remarkably solid shape, which may be attributable to the car’s low mileage. Daytona seats were notorious for early wear, with many having been reupholstered by the early ’80s.

Gooding noted that the car was one of just five Daytona Spiders finished in green, and suggested that it might be the only Verde Bahram metallic-over-beige Spider to ever leave the factory. This striking combination along with its condition and originality sent bids sky high, and it sold for $3,635,000 including fees, just short of the Daytona Spider record of $3.72M set in 2014.

In this circumstance, rarity is the primary factor that helped blunt the edge that restoration typically has over preservation, and its impact is twofold. First, scant few Daytonas exist to begin with, but combine that with a unique and desirable color combination that takes a car from one of 121 to potentially one of a few, and a car’s level of restoration becomes less significant in the overall consideration of its value. That’s especially true when “preserved” isn’t just a marketing word for “in tatters” and the case in point is in very attractive, usable condition like this one.

Second, you can’t re-preserve a car, and with time, fewer such examples exist as they are either restored or succumb to age and the elements. In this instance, there are so few Daytona Spiders in this near-original condition that the fact it has been repainted in its original seldom-seen color was not a mark against it. The increasing rarity of preservation examples among any given data set, whether Daytona Spider, long-hood 911, Corvette, or otherwise has itself become a valued attribute.

Ultimately, these two sales demonstrated that the market accepts more than one path to achieving top-flight value.

***

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As I sat at a stop light, a man in a ten-year-old Honda Accord pulled alongside and gave the universal hand-crank signal to roll down my window. “Vol-Vo!” he said, his enthusiasm coming through on the second syllable. “That’s a sweet ride. You should drive for Uber in that thing.”

He wasn’t the first passerby to declare his affinity for this Swedish oddity, and the enthusiasm wasn’t altogether surprising. A 1995 Volvo 960 Executive Limousine is, in fact, a sweet ride. I’d spent the day driving cars from several corners of the collector market—Japanese, British, a German DTM homologation special, and some American muscle—but it was this 1995 Volvo (available on Hagerty Marketplace) that drew the most looks and comments by far. When was the last time you saw a Volvo limo?

Unless you’ve spent time in the U.K. or in Scandinavia, there’s a good chance you said never. Only about 20 of these 960 Executive Limousines made it to the U.S., according to Fredrik Nilsson, marketing director for Nilsson Special Vehicles AB.

Nilsson is the third generation in the family business, which got its start in Sweden in 1945 manufacturing trucks and buses before making the pivot to ambulances, taxis, and livery vehicles in the 1960s. “We had a partnership with Volvo in the ’60s,” he says, mentioning that Bertone also built extended-length Volvos for a time in the ’70s, “but it was from the 1980s that we became the only builders of Volvo’s stretch products.” That relationship continues to this day.

About 1500 960 limos of varying lengths were built from 1993 to 2000, and about 550 of those were long-stretch iterations. That number was further split between six-door and four-door versions, with only around 15 percent being four-door models like you see here. (This excludes the better-known 960 Executive sedan, which is more long four-door than stretch limo. Nilsson Special Vehicles made about 1400 of those till Volvo took them in-house in 1996 and built a few hundred more.)

Nilsson Special Vehicles now purchases vehicles directly from Volvo and then takes the end product to market themselves, but when this 960 was made in the ’90s, Volvo sent cars to Nilsson for modification, received them back in their completed state, and sold them through its existing distribution channels. Whether intended to become limo, ambulance, or hearse, once the cars arrive at Nilsson, they are torn down, split, put on a jig, and have the required lengthening elements added.

Often, stretched vehicles look every bit the aftermarket efforts that they are. Not so here—there’s no part of this 960 that doesn’t feel as if it is OEM Volvo. There’s good reason for that: “In the process of making a new project,” says Nilsson, “we always try to make it look just like Volvo would. Everything down to the stitching for the seats. We have always had a strong collaboration with Volvo—they open up access to their suppliers to ensure the quality of the finished product.” Interior materials like the carpet, along with mechanical necessities like the drive shaft and the extended wiring all come from the companies that supply Volvo itself.

Nilsson shares that most of the six-door 960s were ordered for funeral homes in the U.K., while the four-door versions were typically put into service in Scandinavia, shuttling executives and occasionally serving as taxis. A few even made it to India and Japan. He recalls that the 20 that made it stateside were all one order. He’s aware of a few surviving examples that reside in collections.

Nilsson would likely have enjoyed the attention this 960 garnered on my journey—in his garage resides a 960 stretch used by his father, alongside an extended-wheelbase 760 pickup conversion.

Speaking of pickups, if you’ve spent any time in a full-size, long-bed model, you’ll understand how to attentively position this Volvo on the road. Turns from a stop are where this Volvo’s length is most noticeable: Stick that front end out a touch more than you think necessary, crank the wheel, and feel the car make its slow, lumbering pivot. Rearward visibility is surprisingly good through the mirrors and out the back—provided the privacy panel is down.

Once underway, the 2.9-liter inline-six provides enough power to the rear wheels to keep up with traffic, though an LS swap seems like an attractive option for this car (maybe I’ve spent too much time drooling over Paul Newman’s V-8-powered Volvo wagons when they come to auction). The rest of the experience is characteristic ’90s Volvo: isolated and comfortable, decently weighted steering, and the occasional suspension rattle and interior squeak that you can’t ever seem to eradicate.

For a chauffeur, the latest addition to the gig economy, or just someone who cares about the health of their back, good seats are a must. Volvo’s are among the best—even in old examples with plenty of miles on them—and the command post of this limo is no different. Though the leather up front is not quite as plush as that swathed on the rear seats, any driver of this limo will have no trouble spending long amounts of time at the wheel.

Out back, four can sit in luxury, while six might begin to be a little tight at the hips, at least by American standards. The 960 didn’t pursue opulence—this is a restrained Swedish car, after all—instead, it sought luxury through comfort. The seats are at once soft and supportive, and there’s room for the tallest passengers to stretch their legs. Sunroofs are best left for bachelorette party transportation on the Vegas strip—this limo has plenty of glass on its sides, thank you very much.

This example likely needs some attention—the odometer shows just under 90K miles, though true mileage is unknown. Its switchgear and some mechanical bits show the wear of livery use, though the leather and rear passenger compartment as a whole are remarkably well-preserved.

It will take some work to bring this limo back to its former glory, or to new heights as a custom build. There’s no question, though, that wherever it goes, this staid Volvo limo will be the center of attention.

***

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In the week or so that follows any major auction, Hagerty’s team of analysts break down specific sales and looks for broader trends or observations that might be coalescing. From last week’s Florida auctions, a few factors suggest that despite all the market movement in the last 18 months, the core focus of the collector car hobby remains healthy. What’s more, trends that may have shown growing momentum in the go-go market of 2021-22—like the rise of modern supercars—have indicated some signs of softness. We dig into some of these outcomes from Florida below. For a more detailed account of top sales and segment movement, check out our Florida March auctions recap.

Cars from core eras are still in demand

As the demographics of the collector car market evolve, the concern that older classics may fall by the wayside continues to be a topic of conversation. While there is some evidence that may be happening among certain models, reports of the death of old cars have been greatly exaggerated. Broadly speaking, the market for cars over fifty years old is very diverse and healthy. Few alive today had a 1903 Mercedes-Simplex image on their wall as a kid, but it was the most expensive car at the March Florida auctions. It’s not just one car, either—models from the ’50s and ’60s made up a huge chunk of the value that exchanged hands last weekend.

Quick flips are increasingly risky

Not too long ago, many people came to think of classic cars as money printers. It wasn’t all that unreasonable a concept—for cars bought in 2021-22 and then sold in the first three months of 2022, the average return was seven percent (that’s just the average—a raft of cars saw much more dramatic growth during this period). Those days are over. The median return on a car bought at auction during 2023-24 and then sold in 2024 so far is zero percent.

Buyer discipline continues to carry the day. We observed that across all segments in March’s Florida auctions—special examples would transact (and sometimes at very strong prices), but bidders were more guarded with their paddles overall. This means that quick monetary gains in the collector car market are much harder to come by now, and dealers aren’t guaranteed to make a quick buck.

Our analysts have also observed a change in buying and selling behavior among repeat sales: During the pandemic, there was a prevailing theme of dealers and flippers picking up a car at live auction and then making their profit by selling it online. We’re beginning to see the opposite, and not just because the attendance is back at live auctions. With an ever-increasing number of cars available online, pressure to sell at no reserve, and buyers holding back, it’s now a bit easier to score a deal online.

Super- and hypercar struggles

Not every limited-edition hypercar is a sure-fire bet. We have observed some depreciation in this segment as manufacturers keep churning out the next one and the next one. Buyers could be getting hesitant that these cars are guaranteed investments. On top of that, so many are low-mileage, nearly in-the-wrapper examples that in this market it appears buyers have to really want that particular car in order for it to move. Of the 13 2010+ supercars bid above $1M, only four made it beyond their low estimate. The McLaren P1, one of the cars at the center of a flurry of hypercar activity early in the last decade, went 0 for 2 across the block. Only one of four Lexus LFAs—a darling car with a meteoric rise in the last few years—sold at this past week’s auctions.

Despite some big hits and misses, the Porsche market was rational

As stated in our auction report, there were some high-profile Porsche no-sales, along with a couple of transactions that had to be completed after the auction. This appears, at least in part, to be a continuation of rationality in the Porsche market that we reported on in December. Porsche buyers have gotten very particular, but when they identify something they want, they’re willing to pay up for it. That enthusiasm is reflected in the data: The median condition-appropriate premium vs. the Hagerty Price Guide for Porsches was 13 percent, which is greater than the 10 percent median for the sales overall.

The post What We Learned From Florida’s March Auctions appeared first on Hagerty Media.

One of the most diverse collector car auction weeks in history has wrapped, with $183.8M trading hands across 468 vehicles offered spanning 121 years of automotive history, leading to the highest sales total for the March Classic Auctions. RM Sotheby’s was notably absent from Amelia Island this year, instead opting to hold a two-day auction the same weekend in Miami. However, we will include this auction in our writeup as part of the March Classic Auctions, as the sale nonetheless helps inform the market.  

Main Themes:  

• This weekend set a record total for the March Classic Auctions at $183.8M, exceeding the previous record of $177.7M set last year 
• 119-year span in the top ten sales – the collector car market shows collectability isn’t bound by age  
• Wide range of big sales, from new hypercars to turn of the 20th century racers   
• The median final price to condition appropriate Hagerty Price Guide value was +10 percent, down from +15 percent last year.   
• After 16 months of softening market activity extending into late 2023, with encouraging results from the March Classic Auctions and January sales, the market has turned the corner. 

Highlights:  

• A 1903 Mercedes-Simplex 60 HP ‘Roi des Belges’ sold for $12,105,000, becoming the most expensive pre-1930s car ever sold at auction.   
• A 1967 Ford GT40 Mk I road car sold for $4,405,000.   
• The first 2022 Hennessey Venom F5 to be offered at public auction sold for $2,205,000.  
• A 2005 Ferrari 612 with a gated manual transmission sold for $467,000, setting a record for the model.  
• A 1988 Porsche 959 SC Reimagined by Canepa set the record for a 959 road car at $3,085,000.   

Top Sales  

The weekend’s top sale was Gooding’s 1903 Mercedes-Simplex 60 HP ‘Roi des Belges’, which brought just over $12 million, making it the most expensive pre-1930s car ever sold at auction. A 1967 Ford GT40 Mk I road car took the second spot at $4,405,000, and a 1953 Ferrari 250 Europa followed closely behind at $4,295,000. A 2022 Bugatti Chiron Pur Sport set a record for the variant at $4,047,500—the 119-year range of vehicles in the top 10 shows car collectors aren’t bothered by age.   

Porsche Market Pauses   

Only one Porsche made the overall top 10—a 2018 918 Spyder Weissach Roadster that sold at Gooding for $3,525,000. Another one, a 1988 Porsche 959 SC Reimagined by Canepa, was a strong sale, setting the record for a 959 road car at $3,085,000. Other Porsche sales were less confident even though March has long been associated with significant Porsche sales. Two notable early Porsche racers didn’t sell on the block, instead transacting after the auctions concluded: The 1959 Porsche 718 RSK Spyder at Broad Arrow and the 1961 Porsche RS61 from Gooding, which sold for $3,100,000. 

What’s more, some Porsches that crossed the $1M threshold did not quite meet expectations. A 1996 Porsche 911 Remastered by Gunther Werks sold for $1,022,500 after reaching a high bid of $1.15M and not selling on Bring a Trailer in late 2023, while a Porsche Reimagined by Singer went unsold with a $1,225,000 high bid. RUF, the only Porsche modifier considered a manufacturer and comprising its own class at Amelia on Sunday, went 4 for 6. The top sale was a 1998 RUF Turbo R selling for $1,517,500 in Miami. However, these modified Porsches had a lower sell-through rate than their stock counterparts—67 percent vs. 81 percent.   

Stability Returns   

Stability has returned to the collector market, and results show a less speculative nature. The median return on a car bought since 2020 and sold this week was zero percent. The median premium to Hagerty Price Guide condition-appropriate value fell to 10 percent this year from 15 percent last year, indicating a return to rationality. This resurgent stability brings traditional classics to the forefront, and a shift in priorities to how much joy and passion the vehicle can provide to a collector rather than return on investment.   

Prewar Performance  

It wasn’t just a few big sales. Overall, the prewar segment performed in line with or better than vehicles built after World War II. 82 percent of prewar cars sold, while the sell-through rate for postwar vehicles trailed at 80 percent. This is the first year since 2019, when the brass-era Don C. Boulton Collection was offered at Bonhams, where prewar cars had a higher sell-through rate at the Amelia Auctions. Postwar cars performed worse compared to auction house estimates as well. 75 percent of Postwar cars sold with a hammer bid below their low estimate, while only 69 percent of prewar cars did. On top of that, prewar cars were twice as likely as postwar cars to sell above their high estimate (16 percent vs. eight percent). Even as car collectors get younger, with most not even alive when these cars were new, there is still a tremendous appreciation for these antique automobiles.     

March Classic Auction Results through March 3rd, 2024 

Listed below are the raw results Hagerty Automotive Intelligence team members witnessed during live auctions, as well as after-sales reported to Hagerty by the auction companies. Results may not include all post-sale deals that have occurred. These numbers include the appropriate buyer’s premiums. 

Overall through Sunday from all auction companies 

• Cumulative Total: $183.8M 
• 383/468 lots sold: 82% sell-through rate 
• Average Sale Price: $479,899 

2023 Cumulative Results through Sunday 

• Cumulative Total: $177.7M 
• 389/453 lots sold: 85.9% sell-through rate 
• Average Sale Price: $456,792 

Overall Top 10 Sales from all auctions through Sunday: 

1. 1903 Mercedes-Simplex 60 HP Roi des Belges sold for $12,105,000 (Gooding & Company) 
2. 1967 Ford GT40 Mk I Road Coupe sold for $4,405,000 (Broad Arrow Auctions) 
3. 1953 Ferrari 250 Europa Coupe sold for $4,295,000 (RM Sotheby’s)* 
4. 2022 Bugatti Chiron Pur Sport Coupe sold for $4,047,500 (Broad Arrow Auctions) 
5. 1954 Ferrari 500 Mondial Spider sold for $3,995,000 (Gooding & Company) 
6. 1930 Duesenberg Model J Murphy Disappearing Top Convertible Coupe sold for $3,855,000 (RM Sotheby’s)* 
7. 1972 Ferrari 365 GTS/4 Daytona Spider sold for $3,635,000 (Gooding & Company) 
8. 2015 Porsche 918 Spyder Weissach Roadster sold for $3,525,000 (Gooding & Company) 
9. 1990 Ferrari F40 Coupe sold for $3,360,000 (RM Sotheby’s)* 
10. 1973 Ferrari 365 GTS/4 Daytona Spider sold for $3,305,000 (Broad Arrow Auctions) 

*Miami                                                                                                      

Results broken down by Auction Company: 

GOODING & COMPANY 

• Cumulative Total through Friday: $66.2M 
• 106/126 lots sold: 84% sell-through rate 
• Average Sale Price: $624,253 

2024 Top 10 Sales: 

1. 1903 Mercedes-Simplex 60 HP Roi des Belges sold for $12,105,000 
2. 1954 Ferrari 500 Mondial Spider sold for $3,995,000 
3. 1972 Ferrari 365 GTS/4 Daytona Spider sold for $3,635,000 
4. 2015 Porsche 918 Spyder Weissach Roadster sold for $3,525,000 
5. 1961 Porsche RS61 sold for $3,100,000  
6. 1967 Ferrari 275 GTB/4 Coupe sold for $2,920,000 
7. 1931 Duesenberg Model J Murphy Convertible Coupe sold for $2,645,000 
8. 1938 Bugatti Type 57 Atalante Coupe sold for $2,260,000 
9. 1957 Mercedes-Benz 300SL Roadster sold for $2,012,500 
10. 1973 Porsche 911 Carrera RS 2.7 Coupe sold for $1,985,000 

2023 Cumulative Results 

• Cumulative Total: $72.7M 
• 148/155 lots sold: 95% sell-through rate 
• Average Sale Price: $491,055 

BROAD ARROW 

• Cumulative Total through Saturday: $62.6M 
• 136/149 lots sold: 91% sell-through rate 
• Average Sale Price: $460,394 

2024 Top 10 Sales*: 

1. 1967 Ford GT40 Mk I Road Coupe sold for $4,405,000 
2. 2022 Bugatti Chiron Pur Sport Coupe sold for $4,047,500 
3. 1973 Ferrari 365 GTS/4 Daytona Spider sold for $3,305,000 
4. 1988 Porsche 959 SC Reimagined Coupe sold for $3,085,000 
5. 2021 Lamborghini Aventador Sian Coupe sold for $2,645,000 
6. 1957 Mercedes-Benz 300SL Roadster sold for $2,260,000 
7. 2022 Hennessey Venom F5 sold for $2,205,000 
8. 2020 McLaren Speedtail Coupe sold for $2,067,500 
9. 1955 Mercedes-Benz 300SL Gullwing Coupe sold for $1,545,000 
10. 1938 Mercedes-Benz 540K Norrmalm Cabriolet sold for $1,435,000 

*Does not include lots sold post-auction 

2023 Cumulative Results 

• Cumulative Total: $28.6M 
• 82/108 lots sold: 76% sell-through rate 
• Average Sale Price: $348,797 

BONHAMS 

• Cumulative Total through Thursday: $6.7M 
• 52/79 lots sold: 66% sell-through rate 
• Average Sale Price: $129,297 

2024 Top 10 Sales: 

1. 1904 Napier L48   sold for $742,000 
2. 2005 Ford GT Coupe sold for $409,250 
3. 2008 Mercedes-Benz SLR McLaren Convertible sold for $387,250 
4. 2007 Honda NSX-R GT Coupe sold for $368,000 
5. 1994 Ferrari 512 TR Coupe sold for $335,000 
6. 1953 Mercedes-Benz 300S Coupe sold for $332,250 
7. 1967 Aston Martin DB6 Mk I Saloon sold for $263,200 
8. 1965 Shelby Cobra CSX4000 – 427 S/C Roadster sold for $257,600 
9. 1996 Porsche 911 Turbo Coupe sold for $246,400 
10. 1929 Stutz DV-32 Brisson sold for $224,000 

2023 Cumulative Results 

• Cumulative Total: $12.8M 
• 80/102 lots sold: 78% sell-through rate 
• Average Sale Price: $160,044 

RM SOTHEBY’S (MIAMI) 

• Cumulative Total through Saturday: $48.3M 
• 89/114 lots sold: 78% sell-through rate 
• Average Sale Price: $542,625 

2024 Top 10 Sales:                                                                                                              

1. 1953 Ferrari 250 Europa Coupe sold for $4,295,000 
2. 1930 Duesenberg Model J Murphy Disappearing Top Convertible Coupe sold for $3,855,000 
3. 1990 Ferrari F40 Coupe sold for $3,360,000 
4. 2010 Bugatti Veyron Grand Sport Convertible sold for $3,085,000 
5. 1963 Mercedes-Benz 300SL Roadster sold for $2,260,000 
6. 1966 Porsche 906 Carrera 6 sold for $2,205,000 
7. 1939 Mercedes-Benz 540K Sindelfingen Cabriolet A sold for $2,205,000 
8. 2005 Porsche Carrera GT Coupe sold for $1,721,000 
9. 1998 RUF Turbo R Coupe sold for $1,517,500 
10. 2017 Ferrari F12tdf Coupe sold for $1,242,500 

2023 Cumulative Results 

• Cumulative Total: $63.6M 
• 79/88 lots sold: 90% sell-through rate 
• Average Sale Price: $805,203 

The post March Classic Auction Report: Age Is Just a Number, and a Stable Market is Back appeared first on Hagerty Media.

Ferrari’s 250 GTO needs little introduction, even among those not intimate with the collector car world. With a mere 36 built, gorgeous lines, and a stellar racing pedigree from what was one of the brightest among many bright eras for one of the world’s most famous brands, the 250 GTO long ago transcended the hobby to become an object d’art.

Fortunately, this particular bit of art is often shared with the world and put to regular use. Yesterday, spectators across the The Golf Club concours fairway at the Ritz-Carlton on Amelia Island in Florida perked up when they heard the bark of a 3.0-liter Colombo V-12. The 1962 250 GTO, Chassis 4153GT, was headed to the award ceremony, having secured Best in Show in the Concours de Sport at the 2024 Amelia Concours d’Elegance.

“It’s so exciting to win this award at Amelia,” said owner David MacNeil, founder of WeatherTech. “This 250 GTO is such a fantastic car, and we’re glad to be able to share it here today.”

Finished in the same colors—silver with French tricolore stripe—that it wore in 1963 for the 24 Hours of Le Mans, where it finished fourth overall, Chassis 4153GT owes its livery to its original owner and racing driver, Frenchman Pierre Dumay.

After Dumay’s laudable finish at Le Mans, Chassis 4153GT was actively campaigned by two owners through 1966, with one last race in-period coming in 1968. It attained several class wins and overall podiums, and most impressive was its overall win in the 1964 Tour de France. After a lengthy respite, 4153GT began showing up at vintage races in 1992 and has been actively used on track and in rallies ever since.

Rumored to have sold for up to $80M in 2018, though reported as a $70M sale then, 4153GT is nonetheless the most expensive disclosed sale of a 250 GTO. That this chassis would be at the top of an extremely exclusive list should come as no surprise—Ferrari historian Marcel Massini told Fox News after the 2018 sale that 4153GT is “one of the top three or four GTOs in the world.”

After purchasing the car, MacNeil ran it in the Colorado Grand rally before sending it to noted Ferrari shop Motion Products for an extensive restoration that took nearly two years. It has been on the concours circuit since, attending numerous events including Villa d’Este and Pebble Beach before arriving at Amelia.

Much as this GTO improves the look of the beautifully manicured lawns on which it has rested, MacNeil is eager to get it back on the open road. “We might take it to one more show, and then it’s time to drive the heck out of it,” said an enthusiastic MacNeil, when asked about his plans for 4153GT. “This is an absolutely amazing car to drive. It lives up to its hype. It’s got a great power-to-weight ratio, the handling is superb, and of course there’s that V-12 sound.”

“This car would be a pleasure to drive in a 24-hour race,” MacNeil added. “As a matter of fact, when this car got done with Le Mans in 1963, they drove it to Paris, parked it in front of a bar, and celebrated. Try that in a modern GT3 car.” With that, MacNeil has some celebrating to do himself.

***

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The work of noted French coachbuilder Figoni et Falaschi has dazzled auto salons and concours since its founding in 1935. Today, its work shone yet again, as this 1947 Delahaye 135 MS Figoni et Falaschi Narval Cabriolet took home Best in Show at the 29th annual Amelia Concours d’Elegance in Florida.

Owned by Dana Mecum, founder of Mecum Auctions, this flamboyantly designed Narval first graced the public with its presence at Delahaye’s stand at the 1947 Paris Auto Salon. (Narval is French for Narwhal, a name earned by the car’s flowing, tapering lines and, of course, the protrusion atop its grille.) The Delahaye was then purchased by Charles Trenet, a singer known as the “French Frank Sinatra.” The car then crossed “La Mer” with the singer, says Mecum: “He came to the U.S. on tour in the early ‘60s, and the car ended up staying here.”

One of seven made, this Narval arrived as the era of decadent coachbuilding was drawing to a close. The Narval represents an evolution from prewar designs toward more modern aesthetics but retains Figoni et Falaschi’s characteristic organic lines, which embody motion and speed even when the vehicle is standing still. 

Designer Giuseppe Figoni (Falaschi handled the operations of the business) famously worked with some of the most revered automotive brands in the 20th century: Talbot, Alfa Romeo, Delage, and of course, Delahaye. Cars wearing bodies designed by Figoni have taken home trophies at Villa d’Este, Pebble Beach, and Amelia Island. His 1937 Talbot-Lago T150-C-SS Teardrop Coupe holds the record for the most expensive French car ever sold at auction, at $13,425,000.

Delahayes bodied by Figoni et Falaschi rarely cross the auction block, but when they do, they are seven-figure cars: This weekend, a less extravagant 135 MS Coupe from 1938 sold for $1,325,000 at Broad Arrow’s Amelia auction. Few postwar cars such as those from the Narval series have sold at auction recently.

Beneath the bodywork of this Figoni et Falaschi Narval resides the chassis of a Delahaye 135, featuring a 116-inch wheelbase with independently sprung front suspension and a live axle held aloft by semi-elliptic springs at the rear. The car is powered by an overhead-valve, 3.6-liter straight-six engine that is fed by three Solex downdraft carburetors and makes 125 horsepower. The transmission is a four-speed affair, with a gear pre-selector mounted at the steering column. The front and rear wheel covers hide 17-inch Rudge center-locks. 

“I restored this myself a couple of times, and then I realized I needed professional help,” says Mecum, standing in front of his Delahaye on the concours lawn at Amelia Island. “I hired Chris Charlton from Classic Car Services in Maine and he did it perfectly—he really did it right.”

Mecum adds that he’s put about 100 miles on the car since the restoration and intends to put it to good use going forward. “We’re excited to receive Best in Show today at Amelia—and now we’re going to drive it.”

***

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There’s no avoiding it—tastes evolve over time. As the generational transition among enthusiasts and collectors continues, so, too, does the march of certain cars into and out of the spotlight. Sometimes, it’s cause to celebrate a fresh round of enthusiast rides getting the recognition they deserve; others, it’s a reminder to share the joys of older models in danger of fading from view. Here at Hagerty Insider, we seek to cover this topic’s many angles, but always with some foundation in the data we observe.

Though for many, this headline likely comes as no surprise, the data do help turn anecdotes into more concrete form—they show precisely where interests lie among buyers under 40. We took a look below at the rolling 12-month average of the share of insurance quotes sought from buyers under 40 for 21 popular collector cars. Here’s what we found.

You may have heard that “Miata is always the answer,” and while the first-generation Miata is a sought-after ride, when it comes to popularity among young collectors, it’s the Nissan Skyline GT-R that’s almost always the answer. For every modern generation of the Nissan Skyline, the share of buyers under 40 healthily exceeds their 27 percent share of the overall collector market. Unsurprisingly, the Mk IV Toyota Supra also occupies a top spot on this list.

German hardware is similarly popular. Two generations of M3, the once-ubiquitous 1995-99 second-gen E36 (49 percent) and the 2007-13 fourth-gen E9X (61 percent) rate as favorites, while Porsche’s 944 also sneaks in at ten percentage points above the under-40’s 27 percent market share.

There’s another side of this coin, but the fact that some collector cars haven’t garnered the attention of the under 40 crowd isn’t a death knell for values or enthusiasm by any stretch.

Pony cars of varying ages find themselves essentially at even interest, and you’d be hard-pressed to find anyone who thinks that the Camaro or Mustang nameplates will fade into obscurity.

Two generations of Porsche 911s, the 993 and 997, despite being near-locks as future classics, haven’t attracted nearly the interest as the 944, much less the vaunted Skylines. In these instances, these data can serve as a flag to examine the causes (though the 2000-2006 Jaguar XKR might not be in the same league as the above 911s, the delta in interest is cause for analysis).

Compared to the 100-year-old Ford Model T itself, all buyers are young buyers. With that in mind, that a significant portion of its buyers are under 40 at all bodes well for the car, and the same can be said for the Model A.

While it’s well-known that enthusiasts gravitate towards the cars of their youth, this quick glimpse illustrates that there are surprising exceptions to that rule. Price, performance, usability, and mystique all shape the choices people make when looking for their next car to buy.

***

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This story is being updated throughout the week.

Posts and analysis: From Thursday, our first full day of coverage, click here. For Friday’s coverage, click here.

Spring has nearly arrived, and it can’t come too soon for collectors and enthusiasts who want to get back on the road. This coming week’s Amelia auctions and concours offer attendees the chance to enjoy the hobby with some warmth and (hopefully) blue skies while providing those watching from afar with some anticipation of things to come. The Hagerty Insider team will be on the ground tracking the sales results and sharing the latest stories and information. Stay tuned—we’ll be providing regular updates below throughout the week.

This year, three auction houses will motor just under 350 cars across their blocks at Amelia. While significantly smaller than the January auctions where 390 cars were sold per day on average for seven days straight, Amelia sports a wide variety—everything from a 1903 Mercedes-Simplex to a 2024 Porsche 911 GT3 RS—of interesting and historically significant cars. The spread between the oldest and newest car, an astonishing 121 years, is one of the widest ever at an auction.

In the middle of that impressive span is no denying the bread and butter of the collector car world. The 1950s, ’60s, and ’70s comprise of the most popular cars across all ages of enthusiasts. 26 percent of the number of vehicles offered and 35 percent of the value of all vehicles at auction this week comes from just the years 1954-1967.

2024’s auctions have so far demonstrated a return to stability in the collector market. Big sales of remarkable cars continue to wow enthusiasts, but buyers have gotten more deliberate with their choices. Sellers, for their part, have begun to meet buyers on their turf. Amelia’s sales offer plenty of opportunity to observe these trends and check in on where the market is headed. We look forward to sharing our coverage with you below.

Saturday, March 2nd

Saturday’s auction summary

The March Classic Auctions of 2024 have finished with $174.9 million trading hands across 468 vehicles spanning 121 years of automotive history. The 81 percent sell-through rate for all auctions lags the 86 percent sell-through rate from last year, but results from individual auction companies vary.  

Broad Arrow was the only auction in Amelia today, with 89 vehicles crossing the block. Further south, RM Sotheby’s finished their Miami auction with 57.  

The big sales of the day at Broad Arrow were a 1967 Ford GT40 Mk I road car at $4,405,000 and a 1973 Ferrari 365 GTS/4 Daytona Spider at $3,305,000. A 1988 Porsche 959 SC Reimagined by Canepa set the record for a 959 road car at $3,085,000. 

We’ll continue to check the auction companies for aftersales—look for our full recap on Monday morning.  

Overall through Saturday from all auction companies 

Listed below are the raw results Hagerty Valuation Team members witnessed during live auctions. They may not factor in post-sale deals that have occurred. These numbers include the appropriate buyer’s premiums. 

2023 Cumulative Results through Saturday 

• Cumulative Total: $177.7M 
• 389/453 lots sold: 85.9% sell-through rate 
• Average Sale Price: $456,792 

Overall Top 10 Sales from all auctions through Saturday: 

1. 1903 Mercedes-Simplex 60 HP Roi des Belges sold for $12,105,000 (Gooding & Company) 
2. 1967 Ford GT40 Mk I Road Coupe sold for $4,405,000 (Broad Arrow Auctions) 
3. 1953 Ferrari 250 Europa Coupe sold for $4,295,000 (RM Sotheby’s)* 
4. 2022 Bugatti Chiron Pur Sport Coupe sold for $4,047,500 (Broad Arrow Auctions) 
5. 1954 Ferrari 500 Mondial Spider sold for $3,995,000 (Gooding & Company) 
6. 1930 Duesenberg Model J Murphy Disappearing Top Convertible Coupe sold for $3,855,000 (RM Sotheby’s)* 
7. 1972 Ferrari 365 GTS/4 Daytona Spider sold for $3,635,000 (Gooding & Company) 
8. 2015 Porsche 918 Spyder Weissach Roadster sold for $3,525,000 (Gooding & Company) 
9. 1990 Ferrari F40 Coupe sold for $3,360,000 (RM Sotheby’s)* 
10. 1973 Ferrari 365 GTS/4 Daytona Spider sold for $3,305,000 (Broad Arrow Auctions) 

* Miami

4:35 PM: Broad Arrow finished its day with a Porsche made for carving rows rather than corners. This 1960 Porsche Diesel 217 Standard Tractor found a home for $42k, wrapping up the 2024 Amelia auctions.

4:25 PM: Not a price anyone would expect for a classic Volvo, but one well deserved, this early Jensen-built 1962 P1800 sporting an attractive set of wire wheels sold for a staggering $95,200. These early cars are exceptionally rare and caused quite a stir amongst auction goers prior to and during the sale. The price paid is proper recognition of how special the car was.—Greg Ingold, Hagerty Price Guide editor

2:37 PM: Well, it’s official, Daytona Spyders are a hot commodity at Amelia. Following the sale of a mostly original example at Gooding & Company on Thursday, Broad Arrow follows up with a nearly identical result of $3.305 million for an exquisitely restored example. While it’s easy to dismiss one strong sale of a car with originality as an outlier, two solid results are harder to ignore.—Greg Ingold, Hagerty Price Guide editor

2:06 PM: Modern hypercars are still garnering plenty of attention at the Ritz, with a 2020 McLaren Speedtail bringing $2,067,500 including fees. This ultra-rare and ultra-exclusive performance segment have been a guaranteed crowd pleaser at Amelia with an above average sell through rate.—Greg Ingold, Hagerty Price Guide editor

1:15 PM: Lot 236, the 1982 Lancia 037, sold for $588,000 after several bidders showed interest. Expertly restored by the Baldi Brothers of Turin, the rarer junior Ferrari F40 is a great bargain at 1/4 the price.—John Wiley, manager of valuation analytics

12:41 PM: Broad Arrow’s star car is a 1967 Ford GT40 Mk I, one of the 31 constructed to road specifications. Although it has been repainted several times and raced in historic events, it was more recently restored to its original street car configuration and the Opalescent Silver Blue color with which it left Ford Advanced Vehicles. It’s in #3+ condition.

It got more people standing up to pull their phones out than any car here, and bidding opened at $3M before ending with a $4,405,000 final price with fees.

Genuine GT40s rarely come up for sale and the road cars are no different, but Mecum did just sell another blue Mk I road car this January for $6.93M. The difference is down to minute details, but in the GT40 world minutiae counts for a lot.—Andrew Newton, senior auction editor

12:35 PM: Condition and restorer come together for a huge result. A Minter-restored 1957 F-Code Thunderbird saw a drawn out bidding war result in a staggering price of $263,200. Put in context, that’s about $100,000 above Hagerty Price Guide’s condition #1 value for one of these cars. It’s clear the Minter name still commands big money for Thunderbird buyers.—Greg Ingold, Hagerty Price Guide editor

12:14 PM: Tea or café? Broad Arrow’s lot 221, a 1963 Bentley S3 Continental HJ Mulliner, sold for $173,600 today. Yesterday, Gooding sold lot 160, a 1965 Citroen DS19 Majesty by Chapron, for $207,200. If you were posted to Rome by your respective government, and it was the mid 1960s, which would you choose?—John Wiley, manager of valuation analytics

11:59 AM: A 1988 Porsche 959 SC Komfort that received a restoration and upgrades from Canepa sold for $3,085,000. That’s well above the #1 (Concours) Hagerty Price Guide value of $2.6M, but the price accounts for its recent top-flight work. It’s also the second-highest price paid at public auction for a 959.—Eddy Eckart, senior editor

11:00 AM: Broad Arrow’s auction is now live and can be viewed here:

10:05 AM: Though there’s moisture in the air, the sun is slowly beginning to come through on this, the final day of the Amelia auctions. 89 lots remain from Broad Arrow, kicking off at 11am EST.—Eddy Eckart, senior editor

. . .

Friday, March 1st

Friday’s auction summary:

Strong results on Friday at the Amelia auctions suggest the rainy weather didn’t soak bidders’ enthusiasm. Gooding concluded their auction, Broad Arrow began their two-day event, and both sold their top offerings.  

Gooding set the world record price for a pre-1930 vehicle with its $12,105,000 sale of a 1903 Mercedes-Simplex 60 HP. The 1954 Ferrari 500 Mondial that fell just short on the block on Thursday also found a new home in a post-sale for $3,995,000. After an introduction by John Hennessey, Broad Arrow sold a 2022 Hennessey Venom F5 after enthusiastic bidding for $2,205,000. The 2022 Bugatti Chiron Pur Sport that crossed the block three lots later set a record for the variant at $4,047,500, underlining the model’s consistency as a top seller in the post-pandemic market.   

Only Broad Arrow will be auctioning vehicles on Saturday in Amelia—look for the 1967 Ford GT40 Mk I road car (estimate $4 million to $5 million) and the 1959 Porsche 718 RSK Spyder “Lucybelle III” (estimate $3.5 million to $4.5 million) to get the most attention.  

Overall through Friday from all auction companies 

• Cumulative Total: $114.6M
• 255/322 lots sold: 79% sell-through rate 
• Average Sale Price: $449,229 

2023 Cumulative Results through Friday + The single-day sales of Broad Arrow & RM Sotheby’s 

• Cumulative Total: $177.7M 
• 389/453 lots sold: 85.9% sell-through rate 
• Average Sale Price: $456,792 

Overall Top 10 Sales from all auctions through Friday: 

1. 1903 Mercedes-Simplex 60 HP Roi des Belges sold for $12,105,000 (Gooding & Company) 
2. 2022 Bugatti Chiron Pur Sport Coupe sold for $4,047,500 (Broad Arrow Auctions) 
3. 1954 Ferrari 500 Mondial Spider sold for $3,995,000 (Gooding & Company) 
4. 1972 Ferrari 365 GTS/4 Daytona Spider sold for $3,635,000 (Gooding & Company) 
5. 2015 Porsche 918 Spyder Weissach Roadster sold for $3,525,000 (Gooding & Company) 
6. 1990 Ferrari F40 Coupe sold for $3,360,000 (RM Sotheby’s)* 
7. 2010 Bugatti Veyron Grand Sport Convertible sold for $3,085,000 (RM Sotheby’s)* 
8. 1967 Ferrari 275 GTB/4 Coupe sold for $2,920,000 (Gooding & Company) 
9. 1931 Duesenberg Model J Murphy Convertible Coupe sold for $2,645,000 (Gooding & Company) 
10. 2021 Lamborghini Aventador Sian Coupe sold for $2,645,000 (Broad Arrow Auctions) 

* Miami sales

8:32 PM: We’ve observed how newer Porsche GT cars have done better at commanding a premium than other modern collector cars. That still holds true for the GT4, but those premiums appear to have become less consistent in the last six months.—James Hewitt, senior information analyst

7:10 PM: Broad Arrow closed out its first day with a 1959 Mercedes-Benz U411 Unimog. Bidding churned right through its estimate and clawed its way to a $106,400 sale price. That’s a record for the series 411 model, and for pre-1976 Unimogs.—Adam Wilcox and James Hewitt in unison (they’re our resident Unimog enthusiasts).

6:35 PM: This 2022 Bugatti Chiron Pur Sport set a new record for the handling-focused variation of the Chiron at $4,047,500, besting the prior Pur Sport best of $3,805,000 set on Bring a Trailer last November. MSRP on the car? About $4M. —Eddy Eckart, senior editor

6:06 PM: The first Hennessy Venom F5 to come to public auction was introduced by John Hennessy himself. Offered without reserve, it sold for $2,205,000.—Eddy Eckart, senior editor

4:53 PM: $692,500 bought this no-reserve, 1238-mile 2006 Ford GT Heritage Edition. That’s well above its $575k #2 condition value. Not to be outdone, the next lot, a second-gen 2019 Ford GT in the same livery fetched $1,215,000.—Eddy Eckart, senior editor

4:00 PM: Broad Arrow’s Amelia auction is underway. Watch live here:

2:56 PM: At $467k, Gooding’s Ferrari 612 set a record for the model, besting the previous record set by the same car at RM Monterey 2020 by 44%. That was against a high estimate of $325K and a condition 1 value of $279K.—Adam Wilcox, senior information analyst

2:31 PM: Gooding Lot 153, the 1946 Delage D6 Grand Prix car with Le Mans history, sold just above high estimate ($500k). Two bidders who appeared to be younger than the usual 1940s French car enthusiast pursued the car. It may have gone higher still, but its competition record and ownership history from new were held back by the replica original look body.—John Wiley, manager of valuation analytics  

12:50 PM: Gooding’s spectacular, extremely rare and very well preserved 1903 Mercedes-Simplex 60 HP is the oldest car for sale this week, and pretty much guaranteed to be the most expensive. Bidding opened at $5M, then bids came in half a million at a time until stalling at $10M. A new bidder came in at $10.5M, then the competition slowly moved to the $11M winning bid and $12,105,000 final price. It is now the most expensive car built before 1930 to ever sell at auction.

12:21 PM: 1967 Ferrari 275 GTB/4, bought new by racing driver Jo Siffert, currently in barn find condition with a red repaint covering the original and rare Blu Chiaro, sold for $2,920,000 after a brief spat of bidding. Despite the car’s scruffy condition, the sale price is slightly above the GTB/4’s condition #2 value of $2.85M.—Andrew Newton, senior auction editor

12:03 PM: A very original later-model 289 Cobra featuring several desirable options and used as a Shelby demonstrator car took to the block, and after some back and forth stalled out at $1,050,000. Compare that to the first 289 Cobra that sold a month ago in Arizona for $1.2M.—Greg Ingold, Hagerty Price Guide editor

11:20 AM: Rain has come to the island in heavy spurts to start Friday. Gooding’s tent is nonetheless about as busy as yesterday. After 50 lots crossed the block yesterday, another 70 or so will be presented today.—Eddy Eckart, senior editor

. . .

Thursday, February 29th

Thursday’s auction summary:

• Cumulative Total: $32.6M
• 95/129 lots sold: 74% sell-through rate
• Average Sale Price: $343,060

2023 Cumulative Results through Thursday

• Cumulative Total: $32.2M
• 135/157 lots sold: 86% sell-through rate
• Average Sale Price: $238,761

Overall Top 10 sales from all auctions through Thursday:

1. 1972 Ferrari 365 GTS/4 Daytona Spider sold for $3,635,000 (Gooding & Company)
2. 2015 Porsche 918 Spyder Weissach sold for $3,525,000 (Gooding & Company)
3. 1931 Duesenberg Model J Murphy sold for $2,645,000 (Gooding & Company)
4. 1938 Bugatti Type 57 Atalante Coupe sold for $2,260,000 (Gooding & Company)
5. 1957 Mercedes-Benz 300SL Roadster sold for $2,012,500 (Gooding & Company)
6. 1973 Porsche 911 Carrera RS 2.7 Coupe sold for $1,985,000 (Gooding & Company)
7. 2019 Porsche 935 Coupe sold for $1,517,500 (Gooding & Company)
8. 1990 Porsche 911 Carrera 4 Coupe sold for $1,160,000 (Gooding & Company)
9. 2011 Ferrari 599 GTO Coupe sold for $907,000 (Gooding & Company)
10. 1904 Napier L48 sold for $742,000 (Bonhams) 

5:56 PM: Ten years ago $100k for Gooding’s 997 911 GT3 RS would have been a high price. In 2020 it sold for $170k on Bring a Trailer. What is it worth today? According to the bidders it is $362,500, more than doubling its price in 3.5 years. — James Hewitt, senior information analyst

5:39 PM: Bonhams’ final car sold is lots of fun per dollar. Built by the Detroit-based Saxon Motor Car Company way back in 1915, it’s fully restored and clean yet it sold for just $10,080. One of the best deals today. — Andrew Newton, senior auction editor

5:11 PM: At $368k, Bonhams’ Spoon 2007 Honda NSX-R GT set the record for a NA2-generation NSX. — Adam Wilcox, senior information analyst

5:04 PM: This 1973 Porsche 911 Carrera RS, one of just 17 homologation examples, sold for $1.985M. Opening strongly at $1.5 million, the bids crept up slowly from there. The price goes to show that exceptional condition and provenance is good as money in the bank. — Greg Ingold, Hagerty Price Guide editor

4:37 PM: By far Bonhams’ biggest car and the second oldest car for sale this week, the 1904 Gordon Bennett Napier L48, is largely a reconstruction around the original 15-liter, 240hp straight-six engine. One of the first cars to exceed 100 mph, it was bid to well short of its $900,000 low estimate, but the seller still let it go at a $670k top bid for a final price of $742k with fees. — Andrew Newton, senior auction editor

4:16 PM: Gooding Lot 20, a 1938 Bugatti Type 57C Atalante, is the first seven-figure car to sell this weekend. The $2,260,000 final price is right in line with its appropriate Hagerty Price Guide #3- condition value, but below the low estimate set by the auction house. — Adam Wilcox, senior information analyst

3:35 PM: Lot 61, the 1929/33 Stutz DV-32 Le Mans race replica brought out two determined bidders. Drowning out the high estimate of $150K, it sold for $224,000. With one of the best sounding exhaust notes at the auction, the car is perhaps the best deal for the decibels. It might even be a cheap entry into Le Mans Classic to show those Bentleys the way ’round.  — John Wiley, manager of valuation analytics

2:09 PM: Sometimes low miles don’t equate to high sales. Despite this 2005 Ford GT logging only 213 miles in the last 20 years, and receiving a #1- condition rating from our staff, the $409,250 final price was below our #2 value when accounting for options. Since it was recently on long-term static display, recommissioning is required. Bidders were likely accounting for the work needed to get this GT roadworthy. — John Wiley, manager of valuation analytics

1:21 PM: After some slow bidding, the 1965 Shelby Cobra 427 CSX 4000 previously owned by three-time Indy 500 Winner Dario Franchitti, sold for $257,600. — John Wiley, manager of valuation analytics

1:05 PM: Gooding is underway, selling their first lot, a 1963 Ford Thunderbird, for $49,280—nearly double its condition appropriate value. — Adam Wilcox, senior information analyst

1:05 PM: A couple of early steals at Bonhams. A nice example of a 1951 Mercedes-Benz 170D drop-top sold for $34,720, less than half its low estimate. $28k was enough to win this electric conversion MGA despite a low estimate of $50k. — Adam Wilcox, senior information analyst

12:20 PM: The Amelia Island auctions have begun, with Bonhams’ first lot, a 1966 Vespa selling for $16,240. — Adam Wilcox, senior information analyst

11:48 AM: A very early car to wear the Mercedes name, this 1903 Mercedes-Simplex has the potential to be the most expensive car of the week with an estimate exceeding $10,000,000. This is eligible for London to Brighton and potentially the fastest way to make the trip. — Eddy Eckart, senior editor & John Wiley, manager of valuation analytics

11:10 AM: The Bonhams tent features a broad swath of the collector hobby, with everything from a 1905 Napier to a JDM Honda NSX. — Eddy Eckart, senior editor

10:15 AM: The Amelia Island auctions start today with 80 vehicles crossing the block at Bonhams one-day auction starting at noon. Shortly after, Gooding will offer 53 vehicles on the first day of their two-day auction starting at 3pm. — Adam Wilcox, senior information analyst

Wednesday, February 28th

9:32 PM: While the tents in Amelia are filling up, RM Sotheby’s is in Miami doing things a little differently this year. Keep an eye on their 1976 Lamborghini LP 400 Countach Periscopio as a gauge for the early Countach market. Surpassing its high estimate will make it the highest Countach sale since 2014 and third overall. The car it knocked out of third? Itself… It sold for $1.32M in 2015, the third highest sale ever to this date. In August 2017 it then sold for $1.037M—the sixth highest sale at the time. There’s no denying how pretty it looks. — James Hewitt, senior information analyst

3:30 PM: He who has the most information wins? 123 vehicles for sale at Amelia this week have sold at auction before.

Gooding’s 2007 Porsche 911 GT3 RS: Estimate of $325k-$375k, bought on Bring a Trailer in Oct. 2020 for $170k (with fees). The 997 Porsche GT3 RS market has increased astronomically in the last four years.

Bonhams’ 1968 Jaguar E-type Series 1.5: Estimate of $140k-$180k, bought on Bring a Trailer September 2021 for $68,513. The listing is a great resource for photos prior to the restoration.

Broad Arrow’s 1959 Porsche 718 RSK Spyder: Estimate of $3.5M to $4.5M. This car previously came to auction in 2018 and 2022 selling for $3.74M and a no sale at a high bid of $3.9M respectively. The 2018 sale was before the repaint, removal of roll bar and interior work and right in line with the six-years-later estimate this week.

During the peak COVID gold rush we saw dealers pushing quick flips at all the auctions. The volume of these has slowed down in the last year, but there are a number of them at Amelia. Fun fact: 32 of the 123 repeat sales were offered on Bring a Trailer in the last year. Let’s take a look at some of the notable repeat appearances.

2004 Ferrari 575M: Estimate of $250k-$275k. Bought on Bring a Trailer five months ago for $164k.

2000 Ferrari 550M: Estimate $330k-$350k. Bought on Bring a Trailer 11 months ago for $215k.

2015 Mercedes-Benz SLS AMG GT Final Edition: Estimate $350k-$425k. High bid of $263k on Bring a Trailer six months ago.

2017 Ferrari F12 Berlinetta 70th Anniversary: Estimate $400k-$450k. Sold on Bring a Trailer four months ago for $406k. It also sold in August 2019 for $456k.

2012 Lexus LFA: Estimate $750k-$850k. Bought on Bring a Trailer for $730k Dec 2023

1991 Mercedes-Benz 300TE 3.4 AMG: Estimate $75k-$100k. Bought on Bring a Trailer for $65k Nov. 2023.

— James Hewitt, senior information analyst

The post We’re Live at The 2024 Amelia Auctions appeared first on Hagerty Media.

The door latch on the Austin-Healey 3000 Mk III offers a satisfying pop when I depress the release. Feather-light as if built for an airplane, the door swings open with ease, and I slide into the driver’s seat of this handsome British convertible. I gaze over the woodgrain dash and Smiths gauges at the view ahead—the lithe fenders, long hood, and low windshield read as much piston-engine fighter plane as they do ’60s sports car. The 2.9-liter straight-six cranks to life, settling into a low thrum. It’s a blue-sky beautiful day, perfect for an open-air drive.

The aircraft analogy might be relevant for many British drop-tops of this era, but it’s particularly apt for Austin-Healey. Donald Healey, the company’s founder, was an aviator in the Royal Flying Corps in World War I before he turned his attention to cars. The 3000, though cheerful in countenance compared to its more glamorous Jaguar E-Type contemporary, carries a bit of warbird ethos—taut skin, tight proportions, and just enough visual aggression wrapped over durable bits built to stand up to the rigors of competition.

And compete it did. If you attended a sports car race in period, whether Le Mans, Sebring, an SCCA event, or a rally, chances were good you’d see a 3000. They continue to be a popular choice in vintage racing, as well.

On the road, this 1964 Mk III (available on Hagerty Marketplace) asserts itself as a capable, engaging sports car. I ease off the clutch, roll into the throttle, and the torquey six pulls with more verve than I expect. At around 2500 pounds and with 150 horsepower and 173 lb-ft of torque, aided by a shorter 3.9:1 rear-end gear ratio on overdrive-equipped examples, the later Mk III is eager, if no longer considered fast. And that sound—the exhaust emits an addictive, throaty urgency in the upper half of the rev range that encourages you to keep up the pace, if only to hear the roar.

Nearly 60 years on, this Healey’s sporting intent remains clear. Shifts of the four-speed manual transmission require a deliberate hand, but the gates are clearly defined, the lever’s action precise and mechanical. Once committed to a corner, the lovely wood-and-polished-metal steering wheel offers good feedback. The brake pedal requires a heavy foot, though the front discs and rear drums effectively woah the Healey down. Once you get acclimated with the controls and step up the pace, the chassis reveals that you’re wheeling a willing partner.

British roadsters aren’t universally known for accommodating all sizes, but the Healey’s interior is reasonably roomy for the class. The upright seatbacks take some getting used to, though they are effective at keeping you in place while cornering. Those vestigial rear seats, hidden as they are under the convertible top’s tonneau cover, are a welcome bit of extra luggage space. Door height isn’t as cut-down as some sports cars from the era; it’s low enough to contribute to the cabin’s airiness (and rest your elbow on) without feeling wide open.

You’re surrounded with visual appeal—the cleanly designed interior is finished with materials that please the eye and feel good to the touch. The 1964 update from the BJ7 to the BJ8 model incorporated an all-new interior that yielded the surfaces you see here, along with fresh gauges and the addition of wood paneling to the dash.

The 3000, named for its (nearly) three-liter BMC C-series engine, was introduced in 1959 as an evolution of the Austin Healey 100-6. The 124-hp Mk I was available in two-seat and 2+2 configuration (both with a removable soft top) and featured front disc brakes as standard. The Mk II arrived in 1961, receiving triple SU HS4 carburetors (boosting the car’s horsepower to 132), and a grille and intake redesign. For 1962, the model saw a return to dual SU carbs, while a convertible top and roll-up windows arrived on the scene at the same time that Healey did away with the two-seat variant.

The Mk III debuted in early 1964. In addition to the aforementioned refreshed interior, which now came standard with Ambla vinyl (leather became an option), the engine reached its most potent form: A new camshaft, new valve springs, larger carburetors, and a revised exhaust gave the BMC C-series that healthy bump over the BJ7 Mk II, to 150 hp. Power-assisted braking became standard, and in May of 1964 the rear suspension changed to a six-leaf setup, and the axle was located with a pair of radius arms instead of a Panhard bar. This added some height in the rear to help reduce scraping of the low-slung exhaust.

Much like the British segment as a whole, values for the Mk III 3000 are retreating ever so slightly. That said, our analysts have observed examples sell well above their condition value without clear reason. These cars do have a passionate following, and when the right car finds a couple of interested buyers in the same room, bidding can take off. Driver-quality cars have long lived in the under $50K range, with #3 (Good)-condition cars currently sitting at $44,100 and #4 (Fair) examples valued at $27,400.

As when they were new, these Healeys slot between the upmarket Jaguar E-Type and myriad entry-level Brit roadsters. A #3 1966 Series I E-Type roadster—a car with 115 more horsepower and, of course, E-Type allure—comes in at $126K, well north of #1 (Concours) value for the Mk III. In the other direction, a healthy, well-sorted #2 (Excellent) 1970 Triumph TR6 lands at $31,700, just between #3 and #4 conditions for the Healey.

More than 17,000 Mk III cars were produced, far and away the largest run of the 3000’s iterations. Healey’s audience was 90 percent American by 1963, so most of the cars that remain are likely Stateside. As with any car, a well-maintained example can save you from surprises; this is especially true with “Big Healeys,” as proper restoration can get expensive.

3000 Mk III Healey ownership demographics currently skew heavily toward baby boomers, but the times, they are a changin’. Millennials and Gen Z have each seen their share of buyers seeking quotes nearly triple since 2019. Quote count dipped slightly in 2023 but has been relatively consistent over the last five years, so while it remains to be seen whether interest from a younger cohort will help with Healey values, signs do point to these cars holding the attention of a younger generation of enthusiasts.

A perfect late winter’s day and a charming open-topped car have long been a hard-to-beat combination. Austin-Healey’s 3000 Mk III blends a reasonably affordable classic-car entry point with an engaging drive and gorgeous lines to match. The 3000 Mk III is one you buy to enjoy, and enjoy it you will.

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Dave Kinney, appraiser and publisher of the Hagerty Price Guide is back to answer select questions from readers. While Dave can’t put a value on an individual car in this column (that’s what people pay him to do in his appraisal business, after all), he can field questions about the appraisal process, how to go about buying and selling classics, and the industry as a whole. Have a question of your own for a future article? Ask in the comments section.

The best costs more. It always has, sure. But now, as the best appreciates, the rest aren’t keeping pace.

We’ve all seen this scenario play out at auction, both online and in person. Two very similar cars, same year/make/model with similar mileage, come up for sale at the same auction. One brings a high bid of, say, $55,000 and sells. The second car sells for $21,000. Then we scratch our heads.

Yes, details can make a big difference in auction prices. Colors, time of day on the auction block, celebrity provenance, “barn find mystique, and even possible regional differences can have an affect. But above all those, the number one differentiator in price among cars over 15 years old is typically the most straightforward one: condition (In newer cars, often mileage beats out simple condition, but that’s a topic for another day).

A quick review: the Hagerty Price Guide breaks down condition into four numerical ratings. At the top are #1 (“concours,” or “best-in-the-world”) and #2 (“excellent”) condition. Most collector cars are in #3 (“good”) condition, and don’t forget there are plenty in #4 (“fair”) condition or lower. There are very few true #1 cars in the marketplace, possibly one in 500. Cars in true #2 condition might be 30 or 40 in 500—still rare, but a bit easier to find.

There have always been sizable differences in value based on condition, but in recent years our data shows that as the best of the best (#1 and #2) cars are bringing increasingly higher prices, the #3 and #4 condition cars are appreciating at a slower rate, meaning good quality drivers are comparatively more affordable. John Wiley, Manager of Valuation Analytics at Hagerty, recently reported that “as for diverging condition values over the past five years, the Hagerty Price Guide’s average increase in condition #1 value is 32.4 percent; for condition #2 it is 33.8 percent; for condition #3 it is 29.4 percent; for condition #4 it is 23.4 percent.”

That’s nearly a 10 percent difference in the rate of appreciation between condition #1 and #4 vehicles.  Ten years ago, over the five years from 2009 to 2014, the spread in the average increase in condition #1 to #4 values was just seven percent. Three percent might not sound like much, but remember—that’s across the entire collector market.

Dig into the details and you begin to see some distinctions. For example, the appreciation gap in #1 to #4 conditions over the past five years for 1965-73 Ford Mustangs is just 2.9 percent (26.2 percent for #1 cars vs. 23.3 percent for #4 cars). But for the 1979-93 Fox-body Ford Mustang, the gap is vastly higher at 55.2 percent (+191 percent for #1 vs. 135.8 percent for #4). The original Mustang is a mature collector car, while the Fox-body is just getting its legs.

For the 1968-74 Ferrari Dino 246, the gap is 18.4 percent (49 percent for #1 vs. 30.6 percent for #4), while for a modern-ish collector car like the 1978-95 Porsche 928, the gap is 40.3 percent (75.3 percent for #1 vs. 35 percent for #4).

So, among these hot collector cars, why are the best of the best appreciating at a faster clip than the ones with wear and tear? First and foremost is the culture of buyers in 2024. Two or three decades ago, buying “good enough” was just fine. Finding a car with “okay” chrome, an aging but serviceable interior, or weak paint was a perfectly acceptable option for many buyers. Especially if saving some money when purchasing was the goal, settling for a few strokes off perfect was just fine. Now, though, the “get it fixed later” mindset of old has morphed into “I want it now.” We saw some dramatic buying changes happening after the events of 9/11; they were further reinforced in 2020’s pandemic. Put simply, more people want the best, and the buyer who can afford the best is increasingly willing pay up for it.

Reason number two is likely the cost of restorations as well as the time involved. You might remember one of the old unwritten rules of restoration, often expressed as something of a joke. Customer pays $150,000 for a restoration. He comes to look at the car, and he and the restorer agree that, even though the restoration is finished, there are still issues to be remedied. Discussions ensue, and both the owner and the restorer agree that they are 95 percent to the goal of a perfect restoration. The owner asks, “how much for the next five percent, to make the car as perfect as it can be made?” The restorer quickly replies that he will need an additional $150,000 to get over the finish line.

Paint and paint supplies can cost over 100 percent more than they did in 2015. Chrome costs have always been a concern in a restoration, and even finding a qualified chrome shop can be difficult. In my appraisal business, I recently saw brightwork (chrome and stainless) invoices for a single 1950s American car that exceeded $63,000. Want to get an estimate for chrome on a 1930’s Packard or Duesenberg? Get out the smelling salts because you might faint.

If there is a lesson here, it’s that those who want only the best examples of a given car will continue to drive the high end of the market, while the rest of us who are content with good drivers are finally getting a break.

Remember, folks. It’s not damage, it’s patina. It’s not “used up,” it’s just “pre-loved.” As restorations become more expensive, there’s going to be more room for those who aren’t afraid to lap up the asphalt, hang out with friends, and have actual fun with our rides.

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The post Prices Are Widening Between the Best-Condition Cars and the Rest. Why? appeared first on Hagerty Media.

Lamborghini’s Countach may have been the quintessential poster car from the 1980s, but for those who wanted insane-for-the-era power wrapped in something other than a wedge-shaped supercar body, AMG was the place to go. Their heavily tweaked Mercedes-Benz sedans and coupes from the ’80s and ’90s came to epitomize executive excess, but they also delivered serious performance in an impeccably executed package. With this era’s resurgence in popularity, AMG-massaged Mercedes once again find themselves in the spotlight, resulting in a stronger auction presence (with five headed to Amelia’s auctions) and some big sales in the last 18 months. Several factors conspire to make these cars a bit tricky to price on anything but an individual basis, but that hasn’t dissuaded burgeoning enthusiasm for big-body Benzes with thick rolling stock. 

AMG’s methodology from the get-go wasn’t earth-shattering, but it certainly was effective. The “big engine is good, but bigger is always better” approach led to the creation of their famous 6.8-liter V-8-powered 300SEL 6.3 “Red Pig” race car, which briefly terrorized smaller saloons on track. The theme carried into the 1980s, with the tuner upsizing Mercedes-Benz V-8s (and straight-sixes as well) and sticking them into often-aggressively bodied big Benzes. Their magic caught on, and soon AMG had licensed their modifications to partners across Europe, Japan, the U.S., and Australia.  

This network of licensed installers presents the first layer of complexity for these cars—since there was never one uniform system of tracking construction, it can be hard to pinpoint exactly how many of each model were made. This can make verifying authenticity a challenge, too, but extensive documentation of a car’s history does mitigate this somewhat.

The next factor for consideration is the presence of original equipment, especially those big engines. The dual-overhead cam mills were finicky, and parts for them were costly—over time bits became considerably harder to find, too. As a result, once these cars depreciated fully and reached their third or fourth owners, many reverted to less powerful but more reliable Mercedes engines to keep their cars on the road.

This 1995 Mercedes-Benz E 60 AMG Limited, on offer with Broad Arrow at its upcoming Amelia Island auction, represents an original, well-documented example of the model, and pre-merger AMGs generally. (Pre-merger refers to the era when AMG operated as its own company prior to being bought by Mercedes.) To commemorate the end of their internally-hotrodded 500E (called the E 500 beginning in 1994) sedan, Mercedes-Benz created the E500 Limited. Wearing patterned door cards, seat and steering wheel inserts, the 17-inch wheels from the 190 E 2.5 16 Evolution II, and other cosmetic features, only 951 500E Limiteds were produced. For some, though, the 322-horse 5.0-liter DOHC V-8 wasn’t enough, which is of course where AMG stepped in with the E 60 AMG Limited. As was standard practice, the mill got swapped for one with a good deal more power and cubic inches, in this case a 381-horsepower 6.0-liter V-8. AMG-tuned suspension and exhaust, along with those trademark deep-dish thick-spoke monoblock wheels complete the package. It’s thought that a mere 45 examples of the E 60 Limited exist. 

The E 60 Limited’s rarity presents its own challenges. Unlike the Mercedes-Benz 300SL, which has enough sales and repeat sales to set a clock to (or create an index, which Hagerty analysts have used to great effect), with so few examples trading hands it’s hard to easily characterize the E 60 Limited’s values via public sale. The most recent public listing of a well-sorted example was in 2023 at Artcurial’s Rétromobile auction, and it failed to meet reserve. Another example with some corrosion and non-original front seats transacted last July at $117k, and in 2020 before the full effect of the pandemic boom took place, an E 60 that appears to be a Limited but was not marketed as such sold for $93k in Monterey. 

From the full-size 500 SEC to the entry-level C36 to convertible SL models, AMG produced a wide variety limited-run models during this time. The low volume is a big part of these cars’ appeal, and also what makes them challenging to value.

That said, the sparse comparable sales of the rarer models and necessary homework of sifting through documentation hasn’t deterred buyers by any stretch—people have shown they are willing to pay for the right examples. Given the increase in popularity of these collector AMGs, more are beginning to come to market, and the buyer knowledge base is beginning to grow.

Buyer demographics skew quite young for pre-merger AMGs, almost surprisingly so. According to our policy data, about 52 percent of early AMG cars (pre-C36) are owned by Millennials. Another 34 percent are owned by Gen X, and just 14 percent are owned by Boomers. 

Hagerty manager of valuation analytics John Wiley believes the pre-merger AMG market has matured significantly in recent years and still has a lot of runway ahead of it: “With people bidding deep into six figure amounts on these early AMG cars, they’re requiring documentation and those unique AMG features,” says Wiley. “In other words, exactly what serious collectors look for when buying valuable vehicles. With the youthful demographics, this market looks like it has room to run.”

The post Pre-Merger AMG Mercedes-Benz Models Look to Continue Their Trajectory appeared first on Hagerty Media.

It’s good to be a Porsche fan at Amelia Island’s auctions. This year, 53 examples of the Stuttgart marque will cross the block, covering just about every era. We’ll be watching all the sales closely, but here are the ones that particularly caught our team’s eyes.

1959 Porsche 718 RSK Spyder “Lucybelle III”

Finished in period American racing livery that was slathered onto the car trackside the day before the 1959 running of the 24 Hours of Le Mans, extensively campaigned, and affectionately named, “Lucybelle III” is the embodiment of a well-loved race car. This 1959 Porsche 718 RSK Spyder passed from one avid racer to another, racking up a host of stories and achievements along the way.

Original owner Ed Hugus won his class at Le Mans in 1957 in “Lucybelle I,” a Porsche 550 Spyder, and had his sights on another class win in “Lucybelle III” two years later. Unfortunately, the engine dropped a valve and Hugus had to retire the car. After the car was fitted with a fresh engine at the Porsche factory, Hugus brought “Lucybelle III” stateside, where it subsequently had a successful SCCA and vintage racing career. “Lucybelle III” underwent a thorough restoration beginning in 2019 and is headed across Broad Arrow’s auction stage with an estimate of $3.5M–$4.5M.

1957 Porsche 356A Speedster

Porsche’s 356 Speedster is one of many models that might not have existed without the successful lobbying of importer Max Hoffman. Porsche heeded Hoffman’s call, and the lightweight bathtub of a car became a more-than-viable alternative to the British offerings in the nascent American sports car market.

This particular Speedster made its way stateside around 1960 and was pressed into service in SCCA E Production racing not long after. As with many race cars, the engine was swapped for something with a bit more oomph—in this instance, a 1500 Carrera engine. The car was painted to look the part as well. It received a restoration back to a more street-oriented configuration in 1986, though it still has several modifications that render it more assertive than your typical 356A. It shows as an attractive example that can be used as intended. Bonhams estimates it will fetch between $285,000–$330,000.

1990 Porsche 964 Carrera 4 By Singer “Classic Study”

Since the original 2008 “Classic Study” example, Singer’s “reimaginations” have blended classic long-hood Porsche aesthetics with no-expense-spared carbon-fiber bodies, exquisite interiors, and powerful air-cooled drivetrains. They rarely come up for public sale, though we have seen a few appear at auction over the last twelve months.

This example, completed in 2017, is one of 40 with an all-wheel-drive setup derived from the 993-generation 911, and also features a 4.0-liter flat-six. Finished in the muted combination of Fashion Grey Pearl over Olive, this Classic Study is understated and minimalist even if the price tag is not: Gooding expects bids will come in from $1.1–$1.3M.

1994 Porsche 911 Turbo S “Package”

In addition to the chassis beneath the Singer above, seven 964-generation 911s are crossing the block on the island this year. 964s have experienced something of a revival in the eyes of collectors as air-cooled Porsches have continued to gain status. This is especially true of the Carrera RS and Turbo models, but this Turbo S is among the most sought-after.

The S cranked the 3.6-liter twin-turbo six-cylinder’s power up to 380, and a host of chassis tweaks further separated it from more pedestrian Turbo models. The choices of body style set the S further apart, however. Toward the end of its production run, the 964 911 Turbo S came in two flavors: The more expensive—and oddly more numerous, at 76 made—Flachbau, which sported smoother, lower fenders and 928-style flip-up lights, and the “Package” that wore the conventional 911 front end. Only 17 of these were produced, making them among the most rare 911 Turbos in existence. As such, Broad Arrow estimates this car’s sale price at a cool $1M–$1.2M.

1961 Porsche RS61

The final iteration of Porsche’s successful Spyders, the RS60 and RS61 took the fight to larger-bore sports cars and helped Porsche drivers compete for overall wins, as witnessed by their outright victories at the 1960 12 Hours of Sebring and the Targa Florio. While the bodywork is not dramatically different from that of its predecessors, improvements to the brakes and suspension, along with larger wheels and other tweaks, evolved these cars into their ultimate form.

This example, chassis number 718-076, has a lengthy history filled with victories and solid finishes in hill climbs and endurance races, including an overall win at the South African 6 Hours. Over the course of its life, it has worn different bodywork and paint schemes, but now sits as it did when delivered to its first owner in 1961. Eligible—and well-suited, given its larger interior and higher windscreen—for events like the Colorado Grand, this RS61 is ready to be put to use as intended. Gooding & Co. estimates its sale price at $4M–$5M.

1973 Porsche 911 Carrera RS 2.7 Homologation

Homologation requirements for racing have yielded some of the wildest cars in history and a few interesting stories along the way. Porsche had no trouble getting enough orders for the RS 2.7 to fill the necessary minimum 500 required by the FIA—in fact, they’d eventually produce 1580 of them. But the rules also required that the car’s weight be checked periodically during the production run. To ensure proper spec, Porsche built examples designated “RSH,” which had higher-gauge metal, thinner glass, and deleted components. Most of these cars were then converted to other trims before being sold, but 17 of them stayed in this original, ultra-lightweight configuration.

This example, which Gooding estimates will bring $2M–$2.5M, is from the first production run and was originally built for factory use, possibly to homologate the Fuchs seven- and eight-inch wide wheels. It has been faithfully restored and retains its original drivetrain.

2019 Porsche 935

Though older Porsches tend to be the ones that find the spotlight, there are a few showstoppers from the 21st century at Amelia, too. Bonhams is featuring a 2015 Porsche 918 Spyder Weissach ($1.75M–$2M estimate), and Broad Arrow has a 2023 Porsche 911 Sport Classic ($425,000–$525,000 estimate) and a 2018 Porsche 911 GT2 RS Weissach Package ($375,000–$400,000 estimate) among others. Over at Gooding, the one that has our primary attention is this 2019 Porsche 935.

The 76th of 77 factory-built tributes to the incredibly successful 935 race car that debuted in 1976, this modern 935 is based on the 991.2-generation 911 GT2 RS Clubsport and is powered by a 700-horsepower, 3.8-liter flat-six mated to a seven-speed PDK automatic transmission. Showing delivery miles only and wearing a monochrome Martini wrap, this ultra-rare, ultra-capable track special is estimated at $1.5M–$1.75M.

1960 Porsche Diesel 217 Standard Tractor

Its controls might feel rather agricultural, and it’s not likely to set any track records, but for about the price of a service on any of the above selections, this 1960 Porsche 217 Standard tractor could be yours. Broad Arrow puts an estimate of $30,000–$50,000 on this rather aerodynamic and thoroughly restored farming device.

With 18 horsepower and power take-offs at the rear and underneath, this Standard would be equally at home stylishly mowing the lawn, pulling a small hay wagon, or idling its way along a parade route. Or, if you really want to feel the wind in your hair, you could enter it in the Rennsport tractor race at Laguna Seca.

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The post 8 Porsches (Including 1 Tractor) We’re Watching at Amelia appeared first on Hagerty Media.

It’s hard to mention the names Callaway or Earnhardt without immediately thinking of Chevrolet. The renowned tuner and NASCAR royalty each arrived at the brand from different angles, and though they never combined their talents on track, there was one small bit of overlap: This 1999 Callaway C12 Coupe. Owned by Dale Earnhardt, Jr. for over a decade, this ultra-rare Callaway creation found a new home on Bring a Trailer this past week for $120,750. That price helps put a marker down for a marque whose top-tier models have proven a bit of a challenge to properly price.

Many people remember Reeves Callaway as the man who added serious twin-turbo horsepower to Corvettes in the ’80s. His company’s Sledgehammer Corvette is perhaps the most famous Callaway creation. Making the trip from the factory in Old Lyme, Connecticut to a high-speed test track at the Transportation Research Center in East Liberty, Ohio, the Sledgehammer coursed the oval at a record-breaking 254.76 mph (remember, this was in 1988, when a Ferrari F40 would get you a mere 199 mph). After the run, the car cruised home again in comfort, tunes playing and AC blowing cold.

Having established that they could build high-performance Corvettes capable of taking down most any supercar, it wasn’t long before Callaway set their sights on wheel-to-wheel racing. The team didn’t start small, either—they decided to head to Europe to test their mettle at the 24 Hours of Le Mans.

Their first effort in 1994 came up short after a promising start, but in 1995, Callaway’s Corvettes managed an impressive second and third in class. Their appetite for racing sufficiently whetted, the Callaway team saw the 1997 introduction of the fifth-generation Corvette as an opportunity to build a new, exclusive road car and a potent endurance racing competitor. Enter the C12.

“The C12 was certainly the pinnacle of our offerings at the time,” says Mike Zoner, currently the Managing Director at Callaway Cars, and the company’s Chief Engineer in the late ’90s. “In [Reeves] Callaway’s mindset, competing at the 24 Hours of Le Mans was quite important to the positioning of our company. The C12 was designed right to the limits of the regulations—right at two meters wide for the classification as GT2 at the time. The idea was to build a competition car and have a fine road going version of it as well.”

The added width afforded the C12 additional stability and, naturally, necessitated revised bodywork. Callaway was no stranger to tweaking Corvette bodies, though the C12 might have been the most dramatic departure to date. Ultimately, only the glass, door cut lines, and door handles remain from the original C5.

In order to take advantage of the added track width, Callaway completely revised the suspension geometry. While they were in there, the team added proprietary adjustable dampers with a unique spring setup. Many track-modified Corvettes switch from leaf springs to a full coilover suspension, but the C12 retained the leaf as the primary spring mechanism and added what were effectively helper springs around the shocks. This enabled the team to better set up the car’s handling characteristics for a given track when compared to the standard leaf configuration.

Of course, it wouldn’t be a Callaway car without some added oomph, and while you could get your C12 with a hopped-up, 440-horse 5.7-liter V-8, the full-tilt 6.2-liter mill found in Earnhardt’s example offered 482 horsepower and 466 lb-ft of torque.

Inside, Callaway swathed in leather pretty much everything that had a touchable surface, making for a much more plush interior than the standard Corvette.

Ultimately, the conversion to C12 from regular C5 left very little untouched—Callaway made a very thorough imprint on this car. The price reflected that, too: At $140k (nearly $260,000 in today’s money), this was a very exclusive automobile. And that was ok—Callaway only had to produce enough to ensure the car met homologation rules. Sources vary, but 19-20 cars are said to have been made.

“The C12 was a high water mark for us,” explains Zoner. “The Callaway twin turbo Corvettes and the C4 era’s different variants, especially the Project Sledgehammer, were great achievements, but the C12 was special because it was almost a complete remanufacture of such a capable vehicle in the C5 Corvette.”

Back at Le Mans once more in 2001, the Callaway team put the C12 on pole in its class. Unfortunately, an off-track excursion hampered the car’s ability to keep its coolant temperatures under control, and it was forced to retire. Callaway remains active in European sports car racing, and has several driver’s and team championships to its name.

The C12 briefly shared track time with the factory-backed C5-R Corvette, a car with which Dale Earnhardt, Jr. was familiar—he and his dad co-drove the #3 Corvette C5-R in the 2001 Rolex 24 at Daytona to a second in class and fourth overall (their teammates in the #2 C5-R took the overall win). Junior had gotten some coaching from Boris Said, a road course hot shoe and occasional NASCAR competitor, and it was Said who introduced him to Callaway. Not long after, this example was delivered to Dale Jr. at Dale Earnhardt, Inc. headquarters in North Carolina.

Wearing Mauritius Blue Mica paint over two-tone grey leather, this C12 has covered 25k miles and appears in excellent condition. Dale Jr. signed the headliner and the car received a $12k recent service at Callaway.

This auction caught our analyst’s attention, not just because the C12 is an interesting, if unsung, bit of Callaway history, but also because it was a no-reserve sale. Over the last few years, several top-flight Callaway Cars, including the vaunted Sledgehammer, have come up, only to fail to meet reserve. As a result, there’s not a lot of publicly available sales data for the more rare Callaway models, and buyers and sellers don’t seem to be in clear alignment regarding what these cars are worth.

If you’re a Chevy fan, particularly a Chevy Corvette fan, $120k doesn’t seem off the mark for a genuinely usable one-of-20 car with Le Mans pedigree, built by one of the most important names in Corvette performance. That a certain Chevy racer and NASCAR Hall of Fame inductee happened to enjoy it for a good while doesn’t hurt, either.

The post Dale Earnhardt Jr.’s Callaway C12 Finds a New Home and Helps Define The Market appeared first on Hagerty Media.

When Chief Designer Camilo Pardo first took up his tools in 1999 to bring the 2002 Ford GT40 concept car to life, the stakes were a little different than the last time the Blue Oval set about constructing an all-conquering GT40. There was no need to settle a grudge with Ferrari at Le Mans—that matter had been rather thoroughly closed a few decades prior. Instead, the concept would celebrate the brand’s centennial anniversary, and remind the world of what Ford could do when it put its collective mind to something. Today, the first-generation Ford GT is roundly considered an American classic and a fitting road-going successor to the 1960s originals.

The celebration fortunately wouldn’t end with the concept. After the rousing response to the GT40 concept’s debut at the 2002 North American International Auto Show, Ford realized they had to build it. The car was a home run—every bit as imposing and purposeful as the originals, but also the modern halo car needed to help refresh the public’s image of the company. Within a matter of weeks, Bill Ford, Jr. announced that the company would indeed put the car into production.

Of the many retro-inspired designs from the early 2000s, few have aged as well as the GT. It didn’t hurt that the original GT40 was an attractive starting point, but Pardo created a clear lineage to the original without making the GT feel dated or out of place, even when observed over 20 years after its debut. Proportions appear spot on, though dimensionally, this car is larger than its predecessor in just about every way—four inches taller, a significant 18 inches longer, and about six inches wider.

Flagship cars from companies that typically produce more modest offerings can sometimes suffer from excessive trips to the parts bin. While Ford did use parts from other models on the GT, they were largely relegated to out-of-sight items, like the steering shaft and joints in the suspension. The 5.4-liter supercharged V-8 came from Ford’s Modular engine family and shared some architecture and components with other Ford V-8s at the time, but with an aluminum block, forged internals, unique camshafts, and a host of other GT-specific bits, this was more complicated than merely cramming an existing large engine into a small car.

The resulting 550 horsepower pushed through a six-speed manual transmission and a stable, balanced chassis (with nothing in the way of nannies to keep you—or save you—from misbehaving) yielded a brutally fast car in a straight line and on a road course.

Building upon that prowess was a cabin that owners could actually live with. Those few fortunate enough to own an original road-going GT40 know just how hard they can be to use as regular transportation, but the GT came with modern accouterments—most importantly, air conditioning—that made for a much more welcoming experience. Though some reviews suggested the car was sprung a bit stiffly for the road, the GT truly was a kinder, gentler Blue Oval halo car.

The end result was an American rocket of a sports car that presented every bit as well as its European competitors while often making short work of them at the track. Hagerty’s own Larry Webster, then at Car and Driver, tested the GT against a 2004 911 GT3 and a 2004 Ferrari Challenge Stradale in their January 2004 issue. Said Webster: “It wasn’t even a contest. The Ford GT so completely dusted off its two highly recognized competitors that if we had wanted to make this a real challenge, we would have had to go way up the ‘supercar’ price ladder.” Ford had resurrected a winning recipe.

Ford also knew the value of exclusivity, and only built 4038 GTs over the 2005 and 2006 model years. Going a step further, in 2006 Ford offered the GT Heritage Edition (the example you see here is on offer with Broad Arrow at its upcoming Amelia auction). Only 343 GT Heritage Editions were built, all wearing the Gulf livery of the GT40s that secured victory in the ’68 and ’69 runnings of the 24 Hours of Le Mans. These have become the most desirable of the 2005–06 GTs, and trade hands for a healthy amount above the base car.

Even when they were brand new, first-gen Ford GTs often commanded a significant premium above their $150,000 sticker price. Values dropped slightly during the 2008 financial crisis, but the car was never subject to significant depreciation. Prices slowly edged up, and the trajectory has been very strong over the last five years, especially for Heritage Edition cars. To wit, #1 (Concours)-condition examples are up 57 percent in that time, even trending up slightly in the last quarter. Similar-condition base GTs are up 32 percent over the same period.

Values for #2 (Excellent)-condition GTs have slipped over the last quarter (down five percent for Heritage cars and 3.3 percent for the base model), but remain well ahead of pre-pandemic values.

Buyers appear ever more willing to pay a premium for the best cars. The right options can noticeably boost value: Factory BBS wheels add $4000, factory stripes bring $3000, the McIntosh audio system is worth an additional $2500, and you’ll fork out an additional $900 for painted brake calipers. More significant, though, is mileage; if your GT hasn’t covered much ground, you’re in for extra cash upon its sale. If it’s a wrapper car—one with next to no miles—you’ve got a golden ticket to the top tier of GTs.

Also of note is the 2005–06 GT’s slow creep toward its younger, more expensive sibling. The strongest sale of a first-gen car is within $12.5k of the lowest sale of the newer 2016–22 GT. While there’s still a healthy value delta between the two generations, the first-gen GT is a bit further into its collector status and hits the sought-after sweet spot of modern usability, classic looks, and analog feel (not to mention the V-8 soundtrack that the newer car lacks).

Given its high values, ownership of the first-gen GT naturally skews slightly older. That said, the share of 30- to 49-year-olds seeking quotes is up six percentage points (to nearly 20 percent of the first-gen GT market) in the last five years, and quotes sought from 18- to 29-year-olds are up nearly fourfold over the same period. There wasn’t ever much question about the GT’s collector status, but healthy interest among younger enthusiasts will help ensure that the first-gen GT remains one of the most cherished modern American supercars.

Though the 2005–06 GT didn’t share the same objective as the original models, it was no less successful in achieving its mission. A captivating blend of uniquely American supercar history, modern usability, and raw performance has solidified the GT’s place in the modern collector car world.

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At Barrett-Jackson’s marquee Scottsdale auction last month, two trends stood out. They both have to do with custom cars. First, the sheer quantity of customized vehicles was overwhelming. Second, the customs consistently brought more—sometimes much more—than their stock year/make/model counterparts, even ones restored to factory specifications. Tradition dictates that modifying your car doesn’t add value to it and indeed often detracts from its value. The results at Barrett-Jackson, particularly for several vintage Corvettes, seem to fly in the face of that tradition.

First, some background. The term “custom car” has evolved over the past twenty years. In the past, it referred to re-imaginings in the tradition of Ed “Big Daddy” Roth. They were extravagant, fanciful, and creative. They displayed little of the original car they claimed as a starting point and nodded more to cartoons than to anything seen on the roads of the real world. Over the past couple of decades, those customs have merged with a new and increasingly popular category called “restomod.”

Coined by the team at Barrett-Jackson—Craig Jackson, Steve Davis, and Gary Bennett—in the mid-2000s, restomod refers to cars that are mostly stock-appearing on top (aside from a lower stance and large modern wheels) but have completely new underpinnings. Twenty-first-century drivetrains, upgraded suspension and brakes, and comfort features like modern air conditioning are the main ingredients. The end product is supposed to feature the performance, safety, and reliability of a new car while retaining the style and presence of a classic. These make up the majority of “customs” today, which have little connection with the creations of “Big Daddy” Roth.

Where buyers buy, builders build. For buyers and builders of restomods, Barrett-Jackson Scottsdale has increasingly been the go-to auction event. This has set up a contrast between the “customs” and their restored, stock-configured counterparts. The customs are winning the battle of the bids, and they were ubiquitous at WestWorld.

Custom Corvettes were particularly abundant, and two pairs exemplify the contrast between factory-correct and thoroughly customized. The customs are fresh, professionally built, and gorgeous, but the restored cars aren’t slackers, either, and both the stock Corvettes sold at prices appropriate to their condition, options, and documentation. In each case, though, the customs won out by a large margin.

First, the pair of 1958 Corvettes—Lots 1108.1 (stock) and 1338.1 (custom). Lot 1108.1 was a factory-correct black-over-blue car with a 283 cubic-inch, 270-hp dual-quad engine, four-speed manual, hardtop and soft top, heater, and radio. An older restoration, it showed some age and miles but was still close to showroom condition. It sold for $220,000.

Lot 1338.1, meanwhile, was painted in Cashmere over Linen leather and although it had a 1958 Corvette VIN, the chassis underneath was a modern frame by noted builder Art Morrison. It also featured a 6.2-liter LT1 engine from a 2023 Corvette as well as an automatic transmission, adjustable coilovers, 19-inch alloy wheels, Wilwood disc brakes, and air conditioning. Aside from some fit issues with the windshield and door posts, it was a gorgeous, comfortable, and surely exhilarating ride. It sold for $440,000—double the final price of the factory-correct ’58.

Then there were the 1963 coupes, lots 1363 (stock) and 1363.1 (custom). Lot 1363 was a Sebring Silver over black vinyl split-window coupe restored to like new. Not only that, it was a rare Z06 Competition model, which in 1963 got you a 327 cubic inch, 360-hp fuel-injected engine, Positraction rear end, heavy-duty shocks, larger front anti-roll bar, and upgraded brakes. It was Bloomington Gold certified and has been awarded NCRS Top Flight. A genuine Z06 is among the most valuable early Corvettes, and this one sold for $330,000.

Lot 1363.1, the very next car across the block in WestWorld, was another split-window coupe finished in black over red leather. Its modern drivetrain was made up of a Wegner LS9 block, an LT4 crankshaft, a Magnuson supercharger, and a Tremec T56 6-speed manual. It rode on a low chassis frame, also from Art Morrison, as well as coilovers and a multi-link suspension. Other upgrades included Wilwood brakes, Schott alloy wheels, Vintage air conditioning, and Recaro seats. It sold for $412,500.

The contrast goes beyond price because these are of course very different vehicles despite sharing the same year/make/model. The restomods are fresh and beautiful but also up-to-date in their performance and luxury equipment. They are each unique statements of style and exclusivity. Their appeal is immediately apparent, though they may only be driven a few miles to a show or in a parade, then exquisitely detailed to remove all traces of dust, dirt, or—God forbid—mud. But as they age, even with limited and careful use, their “edge” will soften. Patina is not the friend of the restomod. A digital touchscreen from 2024 in a 1964 Corvette may look awkward and out of place in 2044.

Factory-correct restored cars age and lose their edge, too, but to a far lesser extent. Should the restored cars get used to the point where they show patina, the act of re-restoring them can also help boost their value once more. Owning one of these Corvette customs is surely a satisfying experience, not only for the feeling behind the wheel but also for possessing a singular, intricately assembled, and detailed creation with a special combination of style, power, technical sophistication, and performance. Owning one of the carefully restored original configuration Corvettes is less distinctive, but also less subjective and more historically relevant as an authentic, unmolested piece of the era that produced them.

Different versions of the same car for different buyers, then. But the collector car market, which has long favored authentic factory-correct above all else, is now embracing custom creations with open arms.

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Thirty-five or so years ago, I would ride my BMX bike around our neighborhood in McLean, Virginia, to check in on the cars I thought were cool. My loop took me past an old Datsun Z-car, then a pale yellow early ’50s Cadillac, and a late ’60s Mustang in pretty rough shape. One day, a car unlike anything my young eyes had yet seen caught my eye and I had to stop.

It looked fast, all wedge-shaped and hunkered down. But what was this—a Volkswagen? I set my bike down and walked to the back of the car. I read the block letters aloud, “Ski-Rock-Oh 16V,” and immediately assumed I said it wrong, though I had no idea what the right way would be. The name sounded about as odd to me as the idea that Volkswagen would make a car that appeared so sporty.

Grade-school me didn’t know a lot of things, including that the Scirocco (shi-rock-oh) had been around for more than a decade, and that the second-generation car had just ceased to be sold in the U.S. Now, marginally more knowledgeable, I recognize the MkII Scirocco as the more slickly designed front-wheel-drive platform-mate to the ubiquitous Golf and appreciate its fun, tossable nature. Based on Hagerty Price Guide values for the Mk II, along with an increase in quotes sought for the model, it appears other enthusiasts have taken note, too.

The Mk II Scirocco debuted in the U.S. in 1982, replacing the Guigiaro-designed original with a model that was penned in-house (though many point to the clear influence of an earlier Guigiaro concept, the Asso di Picche, or “Ace of Diamonds, in the Mk II’s looks). In addition to updating the original’s ’70s wedge looks for a new decade, the new model further optimized space within the car and continued to carry the sporty flag for Volkswagen.

By the mid-’80s, however, the term “sporty” might well have deserved a set of quotes around it, as the 90-horse 1.8-liter four was beginning to look weak in the face of other marques emerging from a malaise-era power slumber. Still, the car was an engaging momentum machine with crisp handling that impressed contemporary reviewers.

To remedy the power deficiency, VW introduced the Scirocco 16V in mid-1986 with a twin-cam, 16-valve 1.8-liter engine producing 123 horsepower. “Bring on your valiant V-6, your twin-cam, multivalve whiz-bang, your tur­bo tornado. This VW—the fastest and most powerful machine ever to wear those initials in America—is ready for all comers,” beamed Csaba Csere in the August 1986 issue of Car and Driver.

The 16V truly was the Mk II to have. Along with the updated engine, the car also received larger brakes up front, and discs replaced the drums in the rear. The suspension got the usual heavy-duty tricks, with stiffer springs and shocks and slightly larger sway bars. The body got additional stiffening elements, and gear ratios in the transmission were changed to complement the added power of the engine. It was the ultimate iteration of the Scirocco that would be seen stateside.

It wouldn’t be stateside for long, however. The Scirocco was done in the U.S. after 1988, the year the all-new Corrado debuted, though the older car would soldier on in other markets till 1992.

I didn’t see many more Sciroccos besides that one in my neighborhood, at least until I started SCCA club racing in 2006. There are always several VWs in the paddock on a given race weekend, and though most are Golfs or the odd Jetta running in Improved Touring, there’s usually a Scirocco or two still running in the production classes. That they’re popular as race cars makes sense—the A1 platform these cars share, even when stock, is entertaining, precise, and responsive. They’re also relatively straightforward to work on and don’t suffer from the overcomplication found in some more modern German machinery.

The last five years have treated Mk II Sciroccos exceptionally well. Values for the best cars have exploded from just under $13,000 in 2019 to a full 60 grand in the latest edition of the Hagerty Price Guide. #2 (Excellent) condition cars are still a pretty penny at just under $40K. Fortunately, although driver-quality cars (#3 and #4 condition) have also blossomed in value, you can still find them between $10K and $20K. Naturally, the 16V cars command a premium over those with lesser engines.

What’s behind this bump? Mk II Sciroccos didn’t sell all that well in the States when new, and just under 300,000 were made worldwide—paling in comparison to the 6.3 million VW Golfs that were pumped out of factories in seven different countries. (Values for the Mk II Golf, in comparison, are about half of the Scirocco’s.) Rust has claimed more than a few Sciroccos over the years, and many also met an early end, as is often the case with cars that spend decades living in the overlap between cheap and fun. Add in the thirst for cars from the ’80s, and those Sciroccos that are still around have a pretty captive audience.

Quote count for those seeking insurance remains relatively low, but it did spike 56 percent from 2022 to 2023. The average quoted value of that group was just under $14,500, squarely between #3 (Good) and #4 (Fair) condition. Gen X and millennials are the two generations showing the strongest growth in policy counts, though baby boomers, while their share is slipping, retain nearly a quarter of Mk II Scirocco policies with Hagerty.

Given the strong values, increase in quote count, and solid interest from enthusiasts who might have first experienced them as 10-to-15-year-old used cars, the collector outlook for Sciroccos is pretty healthy. They might not be as cheap as they once were, but as a confluence of sleek design, a tossable front-wheel-drive platform, and easy maintenance, a driver-quality MkII Scirocco checks a lot of boxes for a collector car you can use.

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The post Volkswagen’s Mk II Scirocco Is on a Hot Streak appeared first on Hagerty Media.

From the Hagerty Insider live blog to detailed auction reports, we’ve sliced and diced the big sales from January in several different ways. After weeks of poring over data, however, a few chartable themes emerged. Here are a few final takeaways as the first chapter of 2024’s auction season draws to a close.

Online sales have grown, but traditional auctions still own January

Online auctions may have established a healthy steady-stream business model, but they can’t compete with the energy and entertainment factor of live auctions. The events in Kissimmee and Arizona bring car enthusiasts together to enjoy a destination, and that’s helped drive healthy sales figures and revenue beyond what’s generated when the cars cross the block. That event atmosphere concept has been around for some time, but was solidified in 2022, when a majority stake of Barrett-Jackson was bought by IMG, a company that operates hundreds of live sports and entertainment events globally. Even if the collector market is weaker, January’s live sales still posted some strong numbers, and the event atmosphere certainly helped that. At the same time, online auctions have now come close to saturation levels.

Pandemic premiums have receded

Over the repeat sales of three cars, the most recent of which happened this past January, we can trace the market’s trajectory. The face-palm-inducing prices from two years ago are gone, and that’s true across price points and segments. If you have thrown your arms up in defeat and said, “I’m priced out of the hobby,” then these times might perk you up again. We see from these repeat sales there is always money to be made and lost, but this year there was a far more even return. The spread is wide, but the median percentage return in price on a collector car bought within the last four years and auctioned in January evened out to zero percent. The deals are back out there.

Custom cars are driving Arizona auction totals

Arizona, and Barrett-Jackson in particular, has positioned itself as the place to sell customized vehicles. Barrett-Jackson was always a destination for restomod rides of all stripes, but it’s only gotten stronger over time. Interestingly, though Mecum is widely considered a haven for muscle cars, and muscle cars are a popular choice for restomods, their Kissimmee auction shows a shrinking percentage of customized vehicles. Chalk this up to two factors: Arizona’s strong reputation for this sort of car, and Mecum’s expansion into a wider array of segments combined with their ever-increasing car count.

Totals were down but not out

A slowing market may have impacted the January auctions, but you might not know it by looking at the overall sales numbers. Mecum Kissimmee posted $224M in sales, besting last year’s effort by a nose and continuing that auction’s streak of $200+M in sales. Arizona fared slightly better with its $244M final number, though that was spread out over five auction houses. Three or four more top-tier cars (offerings were down significantly from last year), and Arizona’s result may well have been in line with those from 2022 and ’23.

Time will tell whether Mecum’s solo sale in Florida will eclipse the multi-house event in Arizona. The trend suggests that might well happen, but between the softening market and the success these companies have found in making a destination out of live auctions, it’s tough to be sure how that will unfold. And that’s part of the excitement of watching January’s big shows.

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The post January’s Live Collector-Car Auctions in Four Charts appeared first on Hagerty Media.

Despite nearly two decades of amateur racing under my belt, setting up a race car’s suspension remains something of a dark art to me. Getting all the variables on my Miata or even the much more limited ones on my kart just right for a given track usually requires describing what the vehicle’s doing to a knowledgeable pro and making incremental changes based on their advice. With the ability to adjust toe, camber, caster, and wedge, it is far too easy to take a chassis in the wrong direction while hunting for a setup that behaves predictably. Finding that perfect combination will yield a better-behaving car at speed and ultimately produces better lap times.

Knowing the complications that come with making chassis adjustments, I was quite intrigued when Lamborghini recently unveiled its Active Wheel Carrier, or AWC for short. It might have nothing to do with karting or SCCA club racing Miatas, but this tech actively adjusts two aspects of rear suspension geometry up to 60 times per second, shaving massive chunks of time from the pace of pros and novices alike. Let’s look at how it works and what it can do for you.

Toe, or the angle of the wheels relative to a straight line running from the front of the car to the back, is the first axis of adjustment. Zero toe is when the wheels are pointed perfectly straight—this positioning makes for the least rolling resistance (and therefore the least amount of tire wear). However, for spirited driving, even tiny changes in toe angle can make a world of difference. Small increments of toe out—where the leading edge of the tires is slightly further apart than the trailing edge—can make the car more eager to change direction (some drivers call this “twitchy”), while toe in, especially at the rear of the car, can help induce stability. AWC’s variable toe enables razor-sharp turn-in and confidence-inspiring stability throughout the corner. It’s also able to use this adjustable toe mechanism to induce minute amounts of rear-wheel steering to help the car feel more nimble, as well.

The second axis that Lambo’s AWC can alter is camber, which is the extent to which the top of the wheel is leaning in (negative camber) or out (positive) relative to horizontal. Optimal camber, like toe, is dependent on what a car’s doing at any given moment. For applying power down a straight, zero camber maximizes the tire’s contact patch. In a corner, negative camber on the outside wheel compensates for the vehicle’s lean and enables ideal grip on side of the car that is loaded up with the most weight.

AWC’s active camber adjustment provides the optimal contact patch at all times. This is most important in cornering, where not only is the outside tire ideally set up for the turn, the one on the inside—which in a traditional setup would have the smallest contact patch in this situation—is now able to employ the full width of the tire and greatly increase mid-corner grip.

The AWC system moniters data from a number of sensors including steering angle, throttle, and g-forces to add or subtract camber and toe independently at both rear corners. The outcome was dramatic—according to the OVERDRIVE YouTube channel, journalists testing the car improved their lap times by 4.8 seconds, and Lamborghini’s own test drivers saw a 2.8-second reduction in lap times when AWC was on.

Of course, there’s a lot of load placed on wheel hubs, especially with the monster power and sticky tire compounds found on today’s Lamborghinis. As a result, it may be some time before this tech reliably finds its way to the streets on supercars or otherwise. I think I’ll keep my racing rides old school, but I am constantly amazed at the technology that makes speed ever more attainable.

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If ever there were a poster child for cheap speed from the last decades of the 20th century, it’d be the Fox-body Mustang. A 14-year production run that wrapped in 1993 turned loose about 2.6 million of them, and a massive, affordable aftermarket sprung up to support Fox-body drag racers, road course addicts, and stoplight ne’er-do-wells across the country.

The 5.0 smoke show was long and glorious. Even today, Fox-body Mustangs are still a great way to go fast, but all those years of cheap thrills also made for a lot of attrition. It’s getting harder to find a Mustang of this era that isn’t incredibly modified, incredibly beat-up, or both. That, plus the fact that the youngest ones are now over 30 years old means that good ones are beginning to be collectible. The sale of this clean 1993 Mustang LX 5.0 for $25,200 (including fees) on Bring a Trailer last week is an example of where the market appears to be headed.

By the time this one rolled off the line in ’93, the Fox body was fully evolved (you can find our detailed, year-by-year Fox-body Mustang buyer’s guide here). The 5.0-liter V-8 would see further development in other models, but by 1987 it offered a stout 225 hp and propelled the Mustang to low 14s in the quarter mile. Despite a 205-horse rating for ’93, it wasn’t any less strong—Ford knew the new-for-’94 SN95 would make 215 horsepower, so they made the ’93 models a little weaker on paper.

Though the GT sat atop the lineup and offered more standard features, choosing between an LX and a GT was as much an aesthetic decision as anything else. Later-year LX 5.0s offered a clean, trim look, and those long dual exhausts were an assertively subtle hint of what this otherwise understated pony was packing.

The $25K sale price of this oh-so-’90s Reef Blue example falls about $3K beneath its $28,100 Hagerty Price Guide #2 (Excellent) condition value, and roughly where our analysts expected. Values are up across the gamut of Fox-body years and trims, but the higher quality the car, the more valuable it has become. The days of good-example Fox-bodies being merely used performance cars are well and truly gone. In fact, #2-condition cars have nearly tripled in value over the last five years, and they are up 15 percent in the last year alone. In contrast, driver-quality #4-condition (Fair) cars have doubled in value but sit at a still-affordable $7900.

The keys to this particular car’s success were its relatively low (21K) miles and a stack of documentation. The mileage is in that sweet spot, just above “so low you’d be afraid to drive it” territory. A recent service that replaced a number of underhood items, along with a slew of additional paperwork, verified that this LX has been well taken care of. These attributes would have been a benefit in prior years, but buyers now clearly place a significant premium on them—a sign of a maturing market for the Fox body.

One thing that separates this generation of Mustangs from prior ones as they’ve reached collector status, however, is that buyers don’t appear to shy away from modifications, at least as long as they’re tasteful. The tweaks on this car aren’t significant—wheels, lowering springs, a shifter, rocker arms, headers, and exhaust are the primary changes—and this car’s sale didn’t appear to suffer from them.

Given how many Fox-bodies were made, it’s unlikely that garden-variety LX 5.0s and GTs from this era will ever be truly expensive. But, between the ever-decreasing count of quality examples and the increasing number of people lusting after the car that was top dog in their high school parking lot, the 1979–93 Mustang is well on its way to collector status.

The post The Market for Fox-Body Mustangs Is Maturing appeared first on Hagerty Media.

January was a busy month for auctions, with more than six thousand lots offered at live venues in Arizona and Florida along with the ever-flowing online pipeline of cars. Our team took a look at all the public sales from January and then we gave each of us a theoretical stack of $50k to spend. These were the cars we would have taken home. Which would you pick—or did another sale catch your eye last month?

1969 Chevrolet Corvette 427/390, $38,500

Predictably, I’m gonna pick a C3 Corvette, just like I did last year. This one’s a bit different, though. While I usually couldn’t care less about originality, this one is cool because of its period modifications from Motion Performance. As much as I know black cars are a nightmare, the Stingray’s lines look fantastic and the tan interior is the perfect match. Oh, and did I mention it’s a 427-cubic inch with a four-speed?—Brandan Gillogly, senior editor

1960 Volkswagen 23-Window Microbus, $44,800

Big surprise—I’m going with a van. But really, how could I pass this up? $44,800 is a steal for this 1960 VW 23-window Microbus at Worldwide Scottsdale. Even if it’s a conversion and not a real 23-window bus (which I don’t think is the case here), $45k is still way too low. It sold for 26 percent below #4 condition value despite being conditioned by our team as a solid driver #3- car. In fact, this same bus sold at Scottsdale 2020 for $77k and then again in Las Vegas last year for $55k. Knowing I bought this for such a discount would just put a bigger smile on my face while driving my new bus at 15 mph over mountain passes.—Adam Wilcox, senior information analyst

1973 Volvo 1800 Wagon, $23,100

I thought about going my usual route and picking from several questionable old Lotuses that sold in January. Instead, I went in a (slightly) more practical direction with this fairly clean 1973 Volvo 1800ES. I’ve loved these cars forever. They’re practical, they’re built well, and they have the best backside per dollar of any vehicle ever made. Dark red isn’t the best color, but this one sold about where it should have at $23,100, leaving me with enough money left over that I’m having second thoughts about the Esprit Turbo that sold a few hours earlier.—Andrew Newton, senior auction editor

1966 OldsmobileVista Cruiser Wagon, $49,500

I’ve been meaning to get rid of my Odyssey, because I’ve grown pretty tired of the efficiency and near-perfect execution of the thing. I’d need to replace it with something equally family haulerish, obviously, and what better rig to suit that purpose than this gorgeous 1966 Olds Vista Cruiser, which sold for $49,500 at Barrett-Jackson? The whole thing has been upgraded for improved driving comfort, so it’s basically a pro touring family truckster that looks stock. Pretty hard to argue with that. —Stefan Lombard, senior editor

1967 Lancia Flavia, $23,520

In the category of “what is this doing here,” I would have gladly taken home this Lancia Flavia 1800 MFI for $23,520. —John Wiley, manager of valuation analytics

1985 Toyota Land Cruiser, $44,000

Boy do I love a good deal, and my dream vintage Toyota Land Cruiser with modern 4Runner drivetrain was half off for one day only… This same car sold for $84.7K in April 2022 and garnered only $44K this month. It has everything: a 2015 Toyota 1GR-FE engine swap (the same one FJ Company supercharges and swaps into their $250k builds) and 4Runner suspension, disc brakes and A/C. Put a few vintage accessories and wheels on it—perfection. But most importantly, if no one else validates my purchase I can at least tell myself I got a good deal, and that’s all I need.—James Hewitt senior information analyst

1965 Pontiac Catalina, $38,325

Lord, this thing looks mean. This would be such a killer cruiser for summers in Detroit. Flowmaster noise, hulking presence, but that pillarless silhouette is still elegant. 421 with some upgraded internals would be a treat. Definitely not a perfect example, but a little sign of well-loved ownership speaks to its history of being driven, not rubbed with a diaper. I would drive the hell out of this thing, park it wherever, and enjoy the good life.—Eric Weiner, executive editor

1959 Edsel Villager Station Wagon, $29,120

This is one of my favorites from Scottsdale. You don’t often see an Edsel wagon and for that reason alone I feel like I must have it. Coming from a museum collection and likely spending many years static, when I witnessed it in person, it did need a bit of TLC but not an excessive amount. At $29,120, it is a lot of cool for the money. I’d aim the remaining $20,880 from my budget at correcting any issues, cosmetics and gas (because I’d intend to drive the hell out of it).—Greg Ingold, Hagerty Price Guide editor

1972 Chevrolet Camaro Z28, $45,100

Early second-gen F-Bodies have always had a piece of my heart. Understated in a handsome Sequoia Green with sporty white stripes, I could stare at this 1972 Camaro Z28’s perfect proportions for hours. Sure, by ’72 the 350 wasn’t as strong as in years past, but few people nowadays are buying cars from the ’70s to go fast. It’s got the attitude, the manual transmission, and the V-8 soundtrack for my summer evening needs.—Eddy Eckart, senior editor

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The Arizona Auctions concluded Sunday after 2,724 cars were offered over seven days to the tune of $244.8M in sales. The overall dollar amount fell short of 2023’s figure but exceeded Hagerty’s forecast by 23 percent, thanks to bright spots at the upper end of the market and strength in staple collector cars. Overall, 2,375 lots traded for an average price of $103,083.

The market has been gradually cooling for more than a year, and results from Florida and Arizona this month reinforce that buying behavior has worked its way back to normal. Shoppers are largely aware of this shift and have become more patient and selective.

Totals in Arizona were below recent highs but in step with long-term trends. Good cars did well, lesser cars did not. Long-term holds provided returns; quick flips were mixed. For vehicles sold this week in Arizona that had been auctioned within the last four years, the median return was zero percent, and these short-term owners had a 50/50 chance of earning their money back. Vehicles previously auctioned before 2020, on the other hand, had a median return of 26 percent.

Discerning buyers at the upper end of the market still see value in staple collector cars, and they did not shy away from the right ones, especially in the $500k+ range. The sell-through rate at this level was down significantly (44 percent compared to 2023’s 85 percent), but those cars that did sell often set records. Sixty-five percent of cars priced higher than $500,000 sold above their condition-appropriate Hagerty Price Guide values, which was a marked increase from last year’s 53 percent. As an example, Barrett-Jackson sold an immaculately restored 1956 Mercedes-Benz 300SL Gullwing—a staple blue-chip collectible—for a record $3.41M.

Quality examples of mainstay cars also did well. Seventy-five percent of C2 Chevrolet Corvettes from 1963-1967, for example, sold above expected Hagerty Price Guide values, which was the highest amount since Hagerty began tracking sales in this way in 2018. Another cut of the data shows that unmodified C2s that had appeared at auction within the last three years received bids this month that were on average 22 percent higher than their prior result.

Cars priced below $100,000—a segment with endless supply and increasingly choosy buyers – saw a more modest 49 percent of vehicles sell above their expected Hagerty Price Guide value, a rate that was essentially unchanged from last year’s 50 percent. That figure was below 2022’s high of 61 percent but is consistent with the 8-year trend of 46 percent.

“The heat may have come off the market, but that’s not necessarily bad news. Enthusiasts who felt like they were being priced out of the market can now get their feet back in the water,” Dave Kinney, publisher of Hagerty Price Guide, observed. “End users appreciate that stability,” he added.

“We continue to see late-model supercars compete with bona fide classics for the top spots at marquee auctions,” said Adam Wilcox, Senior Information Analyst at Hagerty. “At Monterey in 2019 and 2021, two McLaren F1s from the 1990s were the biggest sales of their respective weekends. In 2020, the top sale at Scottsdale was a 1995 Ferrari F50. But this year stands out as a particularly modern Scottsdale. A two-year-old supercar took the top bid, with a more traditional classic in the number-two spot. The biggest sale of the week was the 2022 Bugatti Chiron Super Sport at $5.175M. Next in line, at $3.41M, was the record-setting Gullwing sale mentioned earlier. The rest of the top 10 consisted of five supercars built after 2005. This is the highest ratio of cars from the 2000s in a marquee auction’s top ten ever. However, the other three top sales were pre-war classics that have been considered some of the most important cars since the beginning of the collector market nearly a century ago. This just shows that while the spotlight of the market will move with changing tastes, there is still great appreciation for traditional classics.”

Read more analysis of Arizona Auction Week on Hagerty Insider here, and in our blog from the event here.

Arizona Auction Results

Listed below are the results Hagerty observed during the live auctions as well as any post-sale deals that were reported by the auction companies to Hagerty. Numbers include the appropriate buyer’s premiums.

Overall through Sunday from all auction companiesCumulative Total: $244.8M
2,375/2,724 lots sold: 87% sell-through rate
Average Sale Price: $103,083

2023 Cumulative Results through Sunday*
Cumulative Total: $262.6M
2242/2428 lots sold: 92% sell-through rate
Average Sale Price: $117,148
*Worldwide did not hold a January 2023 Arizona auction

Overall Top 10 Sales from all auctions through Sunday:

1. 2022 Bugatti Chiron Super Sport Coupe sold for $5,175,000 (Bonhams)
2. 1956 Mercedes-Benz 300SL Gullwing Coupe sold for $3,410,000 (Barrett-Jackson)
3. 2018 Bugatti Chiron Coupe sold for $2,970,000 (Barrett-Jackson)
4. 1937 Mercedes-Benz 540K Cabriolet sold for $2,420,000 (Barrett-Jackson)
5. 2020 McLaren Speedtail Coupe sold for $2,012,500 (RM Sotheby’s)
6. 2005 Porsche Carrera GT Coupe sold for $1,870,000 (Barrett-Jackson)
7. 2015 Porsche 918 Spyder sold for $1,787,500 (Barrett-Jackson)
8. 2012 Lexus LFA Nürburgring Coupe sold for $1,650,000 (Barrett-Jackson)
9. 1938 Mercedes-Benz 540K Sindelfingen Cabriolet B sold for $1,545,000 (RM Sotheby’s)
10. 1936 Bugatti Type 57 Atalante Coupe sold for $1,380,000 (Bonhams)

BARRETT-JACKSON
Cumulative Total through Sunday: $200.3M
1,990/1,990 lots sold: 100% sell-through rate
Average Sale Price: $100,649

Overall Top 10 Sales:

1. 1956 Mercedes-Benz 300SL Gullwing Coupe sold for $3,410,000
2. 2018 Bugatti Chiron Coupe sold for $2,970,000
3. 1937 Mercedes-Benz 540K Cabriolet sold for $2,420,000
4. 2005 Porsche Carrera GT Coupe sold for $1,870,000
5. 2015 Porsche 918 Spyder Roadster sold for $1,787,500
6. 2012 Lexus LFA Nurburgring Coupe sold for $1,650,000
7. 2019 Ford GT Coupe sold for $1,375,000
8. 2017 Ferrari F12tdf Coupe sold for $1,347,500
9. 1967 Chevrolet Corvette Convertible sold for $1,100,000
10. 1997 Lamborghini Diablo VT Roadster sold for $1,100,000

2023 Cumulative Results
Cumulative Total: $183.8M
1902/1902 lots sold: 100% sell-through rate
Average Sale Price: $96,647

RM SOTHEBY’S
Cumulative Total: $22.9M
62/84 lots sold: 74% sell-through rate
Average Sale Price: $369,962

Overall Top 10 Sales:

1. 2020 McLaren Speedtail Coupe sold for $2,012,500
2. 1938 Mercedes-Benz 540K Sindelfingen Cabriolet B sold for $1,545,000
3. 1963 Ferrari 250 GT Lusso Coupe sold for $1,352,500
4. 1963 Shelby Cobra 289 W&S Roadster sold for $1,215,000
5. 2021 Ford GT Mk II sold for $1,006,000
6. 1965 Aston Martin DB5 Coupe sold for $797,000
7. 1957 Porsche 356A Outlaw Coupe sold for $747,500
8. 1984 Audi Quattro Sport Coupe sold for $665,000
9. 1972 Ferrari 365 GTB/4 Daytona Coupe sold for $632,000
10. 1965 Lamborghini 350 GT Coupe sold for $632,000

2023 Cumulative Results
Cumulative Total: $44.0M
79/87 lots sold: 91% sell-through rate
Average Sale Price: $557,414

BONHAMS
Cumulative Total: $12.0M
68/85 lots sold: 80% sell-through rate
Average Sale Price: $176,522

Overall Top 10 Sales:

1. 2022 Bugatti Chiron Super Sport Coupe sold for $5,175,000
2. 1936 Bugatti Type 57 Atalante Coupe sold for $1,380,000
3. 1970 Maserati Ghibli Spyder sold for $596,250
4. 1973 Ferrari Dino 246 GTS Spider sold for $431,250
5. 1936 Packard Twelve-Series 1407 Coupe Roadster sold for $351,500
6. 1966 Aston Martin DB6 Mk I Saloon sold for $268,800
7. 1965 Aston Martin DB6 Mk I Saloon sold for $232,400
8. 1939 BMW 327/328 Cabriolet sold for $206,080
9. 2010 Ferrari 599 GTB Fiorano Coupe sold for $198,800
10. 1962 Mercedes-Benz 190SL Convertible sold for $184,800

2023 Results through Friday
Cumulative Total: $30.0M
106/126 lots sold: 84% sell-through rate
Average Sale Price: $283,357

WORLDWIDE
Cumulative Total: $5.6MM
63/97 lots sold: 65% sell-through rate
Average Sale Price: $88,168

Overall Top 10 Sales:

1. 1961 Mercedes-Benz 300SL Roadster sold for $1,215,000
2. 2009 Lamborghini Murcielago LP640 Roadster sold for $346,000
3. 1940 Packard Custom Super Eight Darrin Convertible Sedan sold for $335,000
4. 2004 Lamborghini Murcielago Roadster sold for $250,000
5. 1968 Shelby GT500 Fastback sold for $220,500
6. 1959 Cadillac Eldorado Biarritz Convertible sold for $207,200
7. 1971 Plymouth Cuda Hardtop Coupe sold for $159,600
8. 2007 Ferrari 599 GTB Fiorano Coupe sold for $156,800
9. 1963 Porsche 356B (T6) 1600 Super Cabriolet sold for $134,400
10. 1964 Sunbeam Tiger Mk I Convertible sold for $134,400

No 2023 auction

MAG AUCTIONS
Cumulative Total: $4.0M
192/468 lots sold: 41% sell-through rate
Average Sale Price: $21,012

Overall Top 10 Sales:

1. 1967 Ford Mustang Fastback sold for $69,120
2. 2013 Mercedes-Benz G63 AMG Sport Utility Vehicle 4×4 sold for $59,400
3. 1971 Dodge Challenger R/T Hardtop Coupe sold for $58,320
4. 1971 Chevrolet Chevelle SS sold for $57,240
5. 1968 Ford Mustang GT sold for $56,160
6. 1970 Pontiac GTO Convertible sold for $56,160
7. 2011 Ford F-350 Super Duty Pickup sold for $55,080
8. 1968 Chevrolet Chevelle SS Sport Coupe sold for $52,380
9. 1978 Pontiac Firebird Trans Am Hardtop Coupe sold for $50,760
10. 1970 Chevrolet C10 1/2 Ton Pickup sold for $49,680

2023 Cumulative Results
Total: $4.8M
155/313 lots sold: 50% sell-through rate
Average Sale Price: $30,658

The post Arizona Auction Results: Big Sales and a Return To Normal appeared first on Hagerty Media.

I recently wrote about taking the winter offseason to get your car’s legal paperwork in order, and that got me thinking about other topics that benefit from a little proactive work. After that all-important title work, there’s another that might make the next biggest difference in your car’s value when you go to sell it: documenting its history.

The reason is twofold. First, people deserve to know as much as possible about something for which they’re considering shelling out their hard-earned cash. Second, cars are an emotional purchase. You’re selling a memory-making device—share yours, and you share the appeal of the car.

Let’s be frank. While the car is the steak, the history surrounding it is the sizzle. And, if you have been paying attention in the past 10 or so years, the sizzle has become increasingly important when marketing your car.

This doesn’t mean creating a 700-word Facebook post with every exhaustive detail. It does mean documenting the journey that you and your car have shared and making that history available to buyers.

Whether you bought your car new or used, chances are good that you did some shopping before you pulled the trigger to purchase the exact one you did. Try explaining why you chose this one over others. Was it the great deal or an unusual color? The culmination of a five-year or five-day or even a five-minute chase?

The purchase is a great place to start, but you might want to consider an even earlier point. Was the thought of owning this car something that you would daydream about? Did the thought of owning your car drive you to work longer and harder? Even before that, your car was already on a path of its own—if you can find out names of previous owners, call or write them and learn from them about your car.

All this might sound like anecdotes you simply take for granted, but to the next owner, or an owner years from now, knowing more about what drove a previous purchase could make for peace of mind, or at the very least interesting reading.

As an appraiser, I hear a lot of stories about reasons or justifications for people buying the cars they ended up with. Some memorable ones included camping out on a dealer’s doorstep to be first in line, making over 50 phone calls (in the pre-internet days) to find the right car in the right colors, winning a golf bet with the owner of a dealership (an 18 hole challenge, $1000 cash versus a $3000 discount on a new Corvette; my client won the bet and got the car) and perhaps my favorite, a 12-year-old son talking his parents into buying a Ford Galaxy with a 427-cubic inch engine and a four-speed because “Dad could have a car to keep up with freeway traffic” (certainly not so that Junior could have the fastest car in the high-school parking lot four years hence).

As enthusiasts, we have a way of making our cars part of the family. Shared experiences inform what a car comes to mean to people, and that doesn’t have to end when a vehicle gains a new owner. A recent dramatic sale of a 1982 Mercedes-Benz 300TD on Bring a Trailer drives this point home. Commenters and bidders were drawn to an immaculate car, but the prior owner regaled readers with heartfelt recollections, and that certainly helped. Moments of her life intertwined with the car (named Tully)—everything from picking it up new in Germany and having it shipped over on the Queen Elizabeth 2 ocean liner to following an ambulance carrying a loved one—captivated bidders and reminded those reading that sometimes a car is more than merely an appliance.

All this does not need to be as flowery as an auction description. If you feel you can’t adequately write your car’s history, then just write down thoughts and notes. Photos and videos are incredibly helpful, too, especially in this increasingly visual world.

In addition to the human side of your car’s story, there’s a practical aspect to this effort. Include your records and diligence in keeping the car up, and buyers will be more inclined to trust you as a seller. And, if your car was damaged at some point, it’s best you tell the reason for the repair rather than let a potential buyer wonder what happened, or worse yet, assume the worst from an external report.

All of which leads us to CarFax and similar reporting sites. Many buyers read CarFaxes in one of two ways: “good” and “bad.” The good have no damage history, while the bad ones have damage reported. But a five-mph parking lot bumper-bender has little in common with a high-speed T-Bone hit, even though both report an issue.

My advice? Take photos, describe what happened, and leave those photos and copies of repair work along with your full narrative (or just thoughts and notes) with the car. Did the CarFax report have something in error about your car? With all the inputs that get uploaded to them now, it’s a very real possibility. You can get in touch with them by filling out a form at support@carfax.com.

A final thought about history through the lens of big data: I have seen what should be considered a two-owner car reported as a five-owner car. Two lease companies procured titles in their name when a car was leased by two separate owners, when the lease was paid off, the individuals got titles in their name. The third owner was a dealer who sold the car second-hand. That dealer was located in a state where dealers are required to re-title the car in their name. CarFax calls it a five-owner car, but under current understanding of the rules, three of the “owners” were in fact either recording loans or following state dealer laws. This isn’t necessarily correctable, so be sure to highlight the true ownership number.

Remember: You’re the steward of this four-wheeled memory maker. The richness of your notes stand to benefit you, and the next lucky custodian.

***

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The post For You, and for the Next Owner: Write Your Car’s History appeared first on Hagerty Media.

The time has come—you kept your powder dry through the market boom, and now that prices have softened, you’ve begun to think about making your next collector car purchase. But where to shop? Though the vast majority of transactions remain private, public auctions continue to increase in popularity. If you’re considering looking toward the auction world, the marketplace has changed dramatically in the last few years, and the answer of where to look—online or live auctions (the IRL, or “in real life” referenced in the headline)—depends largely on your taste in vehicles.

Most people’s first inclination would be to take to the keyboard, and that makes sense. Everything’s available online, right? Well, yes and no. It’s understandable that there’s a massive buzz surrounding the rise of online auctions in the collector car space. In 2016, online auctions accounted for $42.45M worth of collector car sales, but by last year, that number was a staggering $1.65 billion. The car you want has to be out there in the ether, right?

It very well could be, but if you’re looking for an older car, you might want to consider heading to a live auction, too. Even with the dramatic increase in online auction sales within the last decade (47,842 collector cars sold online in the U.S. in 2023 vs 28,751 in-person), it turns out that some differences still exist between the in-person and virtual forums, and one key factor is the average age of the cars offered.

The average model year of a car headed to a live auction at the end of 2023 was 1977, while that of cars listed online was 1990. To a degree, this isn’t surprising. If you’re looking to sell your 1912 Simplex, you’re going to meet the buyer on their turf, and that still happens to be at a live event with a real person holding the gavel. Conversely, certain cars, like Nissan Skyline GT-Rs, have done well live but tend to thrive on places like Bring a Trailer. For all the promise of a marketplace at your fingertips, buyer behaviors and preferences still dictate optimal forums for where to sell a car, and live auctions continue to be dominated by older cars.

There are a couple of takeaways from this differentiation. The first is strategic, and plays into how you want to buy. You can go to where you’re most likely to find a great example of the car you’re seeking, or you can try to jiu jitsu the logic in an effort to get a deal by finding a car that’s potentially mismatched with its audience. Think of a ’90 Lotus Esprit bought at Mecum, or a ’50s Cadillac on Bring a Trailer. Given the rise in percentage of no-reserve auctions, a bit of gamesmanship might well pay off, but you’ve got to be willing to bide your time to find the right opportunity.

The second is that this widening age gap between sales forums is one sign among several that live and online auctions are beginning to carve out niches for themselves. This is apparent in business models, and even recent tactics—in keeping with the interest of online buyers, Carsandbids.com focuses on modern enthusiast cars. On the other side of the coin, Mecum recently made an upscale push at their live Kissimmee sale. As the market continues to settle and online sales platforms mature further, the two are likely to get more specialized and coexist with less market overlap than we see today. Just one more thing to think about when you’re planning your next purchase.

***

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The post Want to Buy an Older Classic? Deals Abound IRL appeared first on Hagerty Media.

This story is being updated throughout the week.

Posts and analysis: From Thursday, our first full day of coverage, click here. For Friday, click here. For Saturday, click here. For Sunday, click here.

As the rest of the nation begins to thaw out from a bitter cold spell, Arizona’s big January auctions are heating up. About 2200 cars await their turn across stages belonging to five different auction houses, and the Hagerty Insider team is on the ground to track the results. Stay tuned—we’ll be providing regular updates below throughout the week.

2024 got off to an exciting start with a record $224M in sales Mecum’s Kissimmee event, headlined by several top-shelf sales. Kissimmee also offered some levity, with buyer and seller behavior suggesting a return to a more normal, rational market after a few years of frenzied activity.

We’ll be watching closely to see if the Arizona auctions build upon that trend. Manager of Valuation Analytics John Wiley’s forecast suggests that with fewer star cars and the anticipation of a reduced sell-through rate, Arizona’s sales are likely to be down from last year’s $262.8M.

With a bevy of restomods, blue chip cars, and even a few oddballs, the Arizona auctions have plenty to offer—check in regularly to see the latest sales and analysis.

Preview: Putting the January auctions into context

Welcome All! James Hewitt here, one of Hagerty’s market analysts. Let’s start this show off by putting context to what January means for the collector car market and how it has changed.

“The January auctions” historically refers to the market-gauging spectacle that is the Arizona collector car auctions. For good reason: Barrett-Jackson first held an auction there in 1971 and have hosted an annual event at the WestWorld arena since 1989. That auction has grown to a massive 2023 sales total of $183M (81% more than 2021) and an entertainment event like no other that includes four other auction companies in 2024. That’s a lot of money changing hands at one event and sure makes it’s easy to forget the “January auctions” are now far more than Arizona… In the last three weeks alone:

• The single-auction world record total sales number was already broken. Mecum broke their own 2023 world record total by selling $224M of vehicles at their Kissimmee auction
• Over $100M of cars have already sold at online auctions (2700+ cars)
• Mecum offered more than 4000 cars at their Kissimmee auction for the first time ever: 65% more than the whole of the 2023 Arizona auctions combined

One market pulse to check in January has now become three: Arizona, Kissimmee, and online.

What does the pulse say going into Arizona?

Our short term memory makes it easy to forget what normal is. Look long term: last two to three years of COVID boom were anything but normal. This is normal.

• • Long term: Mecum’s average sell-through rate (STR) since 2010 for its Kissimmee auction is 68%. Excluding the 2021-2023 COVID boom, 70% is the best STR since tying 2016’s
  • Short term: Kissimmee’s STR of 70% was a drop of 9 percentage points from 2023 (largest year-over-year drop in Kissimmee STR ever) and 16 percentage points from the 2022 Kissimmee high of 86%

Has the market hit a plateau and we can’t squeeze anymore out of it? Online auction total sales are plateauing despite more lots offered. Total sales at Mecum Kissimmee were a January single auction record, but just barely and it took more lots offered to do it. The most valuable cars are doing very well and demand is strong. The $2.5M+ segment at Kissimmee bounced back from 2023. 66% sold this year vs 29% last year:

• • Ferrari Enzo bought for $4.1M in 2022 sold for $4.5M this go around
  • Ferrari F40 hit a high bid of $2.55M at Amelia Island 2023 but sold with a high bid of $3.1M/final price of $3.41M at Kissimmee

Mecum’s Kissimmee auction celebrated its 25th anniversary this year. It’s hard to argue with the massive growth seen below but how much can the collector car market grow to keep up? Kissimmee added more lots but the number that met their reserve price fell. This led to almost flat total sales. At the same time, the Arizona auctions have been near a $250M ceiling since the 2016 high.

What are we watching as the week progresses? 

We’ll be paying close attention to the sell-through rate (percentage of cars which meet their reserve price) and performance vs Hagerty Price Guide values of $1M+ cars—these performed very well at Mecum’s Kissimmee auction, and I predict 2024 will see $1M+ cars outperform other segments.

Changes in Hagerty Price Guide values of these cars are showing strong performance:

Modified vehicles—tastes are evolving, and modified vehicles are becoming more numerous—and more valuable—and Arizona is a strong destination for them.

Modifications used to be a way to turn less desirable vintage rides into something more marketable, but now it is common even for desirable vehicles like the ’63 Corvettes and ’67 Fastback Mustangs to get the restomod treatment. The market is responding by paying more for modified vehicles as their share of total sales grows faster than their share of vehicles consigned.

…

…

Saturday, January 27th

10:30 PM: Top 10 sales of Saturday

1. 1956 Mercedes-Benz 300SL Gullwing sold for $ 3,410,000 (Barrett-Jackson)
2. 2018 Bugatti Chiron sold for $ 2,970,000 (Barrett-Jackson)
3. 1937 Mercedes-Benz 540K Special Roadster sold for $ 2,420,000 (Barrett-Jackson)
4. 2005 Porsche Carrera GT sold for $ 1,870,000 (Barrett-Jackson)
5. 2015 Porsche 918 Spyder sold for $ 1,787,500 (Barrett-Jackson)
6. 2012 Lexus LFA sold for $ 1,650,000 (Barrett-Jackson)
7. 2019 Ford GT sold for $ 1,375,000 (Barrett-Jackson)
8. 2017 Ferrari F12tdf sold for $ 1,347,500 (Barrett-Jackson)
9. (tie) 1997 Lamborghini Diablo VT sold for $ 1,100,000 (Barrett-Jackson)
   • 1967 Chevrolet Corvette Base sold for $ 1,100,000 (Barrett-Jackson)

8:50 PM: Sometimes one vehicle can tell the story of the market, especially one with a very different view when looking short-term vs long-term. This 1967 Ford Mustang Eleanor Tribute Edition has sold four times (2019, 2022, 2023, and 2024) at auction. The sale price today came in at $143k; a 56% drop from its 2022 $330k sale price. Opening up that view shows the sale price was nearly exactly on its late 2019 sale price. What might appear like a plummeting market on some cars is really a return to normal levels seen before the COVID frenzy. — James Hewitt, Senior Data Analyst

8:24 PM: Another world record; this one maybe even more unexpected than the 300SL: A 1997 Lamborghini Diablo VT Roadster formerly owner by Donald Trump has sold for $1.1M. This sets a new world record at auction for the model. — James Hewitt, Senior Data Analyst

8:18 PM: Barrett’s 300SL sets a new world record price for a non-alloy Gullwing (coupe) at $3.41M. This chart puts into perspective how staggeringly high the sale is versus comparable Gullwing auction sales. The right car at the right time… — James Hewitt, Senior Data Analyst

7:03 PM: Time in the market trumps timing the market. Here are some stats on cars held for more and less than four years and the median percent change in the bid across appearances:

• 4+ years: bid to 8% higher than the previous appearance
• Less than four years: 0% difference

At least you still got to drive it in those four years, right? — James Hewitt, Senior Data Analyst

6:43 PM: When “wrapper car” and “barn find” collide. This one-of-547 1987 Buick GNX shows just 282 miles, still has the plastic on the seats, and was reportedly in a garage from 1988 until coming to Scottsdale. But one look at the car reveals dust, dirt, cracked bumper fillers and other signs of not-so-careful storage. Barrett-Jackson had ropes around it, possibly to keep people from wiping away that precious barn find dust, but a few people swiped it with their fingers anyway. In the end, the low odometer reading won out because it sold for $231,000, between its #1 (best-in-the-world) and #2 (excellent) value in the Hagerty Price Guide. —Andrew Newton, Senior Auction Editor

6:00 PM: This 1956 Mercedes-Benz 300SL was immaculate and desirably equipped and the bidders agreed, selling for a whopping $3.41 million including fees. This Gullwing brought a stunning 30% above our #1 condition value (accounting for options), showing that exceptional cars will always bring exceptional prices.—Greg Ingold, Hagerty Price Guide editor

5:57 PM: Back at the beginning of the week I suggested to research any lot to see if it had come to auction before (513 cars at the Arizona auctions have been to auction before—223 of those have been at auction within the last year), and I called out a 2014 Mercedes-Benz G63 AMG 6×6 Brabus as an example. After being auctioned six times from four different auction companies, it sold today for an all-in price of $880k. Previously it sold for $1.175M and $1.21M, and missed at a $1M high bid.—James Hewitt, Senior Data Analyst

5:30 PM: A $39K 1967 Lincoln Continental from Mecum’s Indy 2023 auction got the clean-up treatment to become a $143k Continental this week.—James Hewitt, Senior Data Analyst

 4:53 PM: Barrett-Jackson sees strong results again with this 1937 Mercedes-Benz 540K Special Roadster out of the Don Williams collection, netting $2,420,000 all in.—Greg Ingold, Hagerty Price Guide editor

4:37 PM: There were two 2019 Porsche 911 Speedsters on offer in Scottsdale: one at Barrett-Jackson, the other at RM Sotheby’s. The RM car brought a respectable $456,000, came with 299 miles on the clock, wore a paint-to sample-color, and had an MSRP of $345,160. The Barrett car, however had triple the miles at 1,079 and a much lower MSRP of $295,030. The final price on that one? $550,000! That same car was bid to $333k in November 2022.—Greg Ingold, Hagerty Price Guide editor

3:29 PM: 24 years after the movie Gone in 60 Seconds was released, the Eleanor Mustang craze is still strong. While a departure from the original movie car, this replica still commanded a staggering $440,000. If that feels like a lot of money, it is, but at least it comes with a nifty couch made from a ’67 Mustang front end done up to look like the movie car!—Greg Ingold, Hagerty Price Guide editor

1:32 PM: Celebrity status often dictates a hefty premium above average market values, but not always. In this case, the $49,500 that Kris Jenner’s 1956 Thunderbird brought was marginally above a condition-appropriate value, proving that name recognition alone doesn’t equate to bundles of cash on the auction block.—Greg Ingold, Hagerty Price Guide editor

1:00 PM: Barrett-Jackson has been a key component in popularizing custom cars. Evidence of that popularity: 11 of this year’s 14 1963 Corvettes for sale at WestWorld, are customized.—Adam Wilcox, Senior Analyst

12:40 PM: We’re used to 1990s GM pickups being cheap. There are a ton of them out there still being used as work trucks and they’re not quite old enough to be “classics,” either. But they are old enough for people to feel nostalgic, and this 1994 Chevy Silverado 1500 is a 2166-mile cream puff in very ’90s Teal Metallic sold earlier this week for a shocking $57,200, well over twice its original 30-year-old sticker price.—Andrew Newton, Senior Auction Editor

12:12 PM: The Lexus LFA Nurburgring that will sell today previously went unsold on BaT only a month ago with a $1.720m high bid. This was a year after it sold on BaT for $1.630m.—Adam Wilcox, Senior Analyst

11:35 AM: Yet another example that cars usually make lousy investments. This 1990 Corvette ZR-1 was supposedly bought by its one and only owner “for collector purposes,” then was immediately trucked to a storage facility, only to emerge in late 2023 for service to get it road-worthy. It shows just 19 miles, and it sold here in Scottsdale for $35,200. But its window sticker reads $60,650 ($146K in today’s dollars). If you had put 60 grand in Apple stock 34 years ago, you’d have an 8-figure return today instead of barely $35,000.—Andrew Newton, Senior Auction Editor

11:10 AM: Our old friend the, um, uniquely modified restomod E-Type from Mecum Monterey last year surfaced again in Scottsdale. Someone has since removed some of the appendages and cleaned it up a bit. It sold for $66K in Arizona vs. $50K in California, so it looks like the cleanup paid off.—Andrew Newton, Senior Auction Editor

Friday, January 26th

Top 10 sales of Friday:

1. 1961 Mercedes-Benz 300SL $1,215,000 (Worldwide Auctioneers)
2. 1969 Ford Mustang Boss 429 $440,000 (Barrett-Jackson)
3. 2009 Lamborghini Murcielago LP640 $346,000 (Worldwide Auctioneers)
4. 1940 Packard Custom Super Eight Darrin $335,000 (Worldwide Auctioneers)
5. 1967 Chevrolet C10 1/2 Ton $330,000 (Barrett-Jackson)
6. 1970 Chevrolet Chevelle $280,500 (Barrett-Jackson)
7. 1968 Dodge Charger $275,000 (Barrett-Jackson)
8. 2008 Mercedes-Benz CLK63 AMG Black Series $247,500 (Barrett-Jackson)
9. 1965 Superformance MKIII Cobra $242,000 (Barrett-Jackson)
10. (Tie) 2023 Chevrolet Corvette Z06 $225,500 (Barrett-Jackson)
    • 1957 Chevrolet Bel Air $225,500 (Barrett-Jackson)

9:12 PM: On the flip side we have cars that sold for less than expected: Would you rather a 2001 Ferrari 360 for $71.5k (#4 Hagerty Price Guide value of $73k) or a 2004 Lamborghini Gallardo for $78k (Hagerty Price Guide #4 value $80k)?

Overall, exotics from the 2010s haven’t fared very well,  On average this week they have sold for 7% below the Hagerty #3 value. The two outliers are a 2008 Ferrari F430 and 2010 Ferrari 599 GTB that sold for close to their #2 values. The poor performance of this decade coincides with a slump we are observing in late model cars not doing as well. At Mecum’s Kissimmee auction at the beginning of the month only 57% of cars three years old or newer sold. That’s compared to 81% at their 2022 auction during peak new car frenzy— James Hewitt, Senior Data Analyst

8:48 PM: That sold for HOW MUCH? Here is a sampling of five American cars that sold for double to triple the Hagerty Price Guide #1 value. It goes to show auctions are a roll of the dice and the right car at the right time can far exceed market expectations.

1. 1970 Mercury Cyclone – $198k
2. 1970 Chevrolet Camaro Z/28 – $176k
3. 1964 Chevrolet Corvette 327/365hp convertible – $192k
4. 1977 Pontiac Firebird Trans Am – $115.5k
5. 2019 Chevrolet Corvette Z06 – $165k

— James Hewitt, Senior Data Analyst

8:40 PM: The “Minter” name is worth more than gold in the Thunderbird world. Barrett sold a 1957 Ford Thunderbird roadster for $220k. The Hagerty #1 value? $81.4k. Minter’s name nearly tripled it. — James Hewitt, Senior Data Analyst

8:14 PM: Big money for mid-century American style! A 1960 Cadillac Eldorado Biarritz convertible just sold for $193,600, right at our #1 condition value. However, we conditioned this vehicle at a #2-, which puts the sale price 42% above its condition appropriate value.  — Adam Wilcox, Senior Data Analyst

6:32 PM: Our team of data crunchers often looks at the performance of vehicles versus their Hagerty Price Guide value to see what sells above, on, or below the market. Right now cars below $100k are faring much better than $100k+: 58% of them have sold above the condition appropriate Hagerty Price Guide value vs only 29% above (and 44% below) for $100k+. — James Hewitt, Senior Data Analyst

5:33 PM: If you think there are more vintage trucks crossing the block than you remember, you’re right. While the share of trucks and SUVs in Scottsdale is down slightly from their 22.9% peak in 2023, this year’s 21.9% is significantly higher than the pre-pandemic Arizona auctions. Just shows how popular vintage trucks have become.  — Adam Wilcox, Senior Data Analyst

5:02 PM: You might have heard of a famous Oregon-based Porsche shop called Emory Motorsports that created the outlaw 356s. What you might not have known is their 356s sell for a staggering $750k on the open market. RM sold a 1957 Porsche 356 A Outlaw by Emory for $747,500 this week. That same car had been for sale at Porsche of Colorado Springs for $749,890 for several months. Maybe the buyer is in Arizona and wanted to save $2500 on shipping? — James Hewitt, Senior Data Analyst

3:33 PM: An Elkhart Lake Blue 2019 Corvette Z06 sold for $165,000 at Barrett-Jackson – nearly double its #1 value. That’s a pretty hefty sum for the final year a Corvette was built with a front-engine and manual-transmission. The fact that this same car sold for $65k less only a year ago, shows how quickly “the last” of something can become wildly collectable.  — Adam Wilcox, Senior Data Analyst

3:25 PM: Six figure electric car! Not something you thought you’d hear this week, but that’s exactly what happened. Worldwide’s offering of a rare and unique 1918 Detroit Electric just netted a hefty sum of $112,000. Take that Tesla! — Greg Ingold, Hagerty Price Guide Editor

2:36 PM: A new, in-wrapper 1989 Chevrolet Blazer with only 21 actual miles just sold for $154,000 at Barret-Jackson, more than triple its #1 value. Proof the vintage SUV market is still red-hot for unique examples.  — Adam Wilcox, Senior Data Analyst

2:28 PM: A pair of crusty, garage find Brits just crossed the block, a 1951 Jaguar XK120 Roadster and 1963 Morgan Plus Four selling for $30,800 and $16,800 respectively, showing that while the garage find phenomenon is still a thing, but not all bidders will abandon their senses to own one. — Greg Ingold, Hagerty Price Guide Editor

1:43 PM: Worldwide’s first seven-figure sale of the day comes curtesy of a striking black 1961 Mercedes-Benz 300SL roadster. After careful bidding, it brought $1,215,000 with buyers premium.  — Greg Ingold, Hagerty Price Guide Editor

1:04 PM: It would be kind of corny if it was just done up to look like a police car, but this 1972 AMC Javelin SST actually did see use with the Alabama State Police in the ‘70s. It’s since been restored and sold here for $52,800, which is almost twice its #1 value.  — Andrew Newton, Senior Auction Editor

12:38 PM: Body number 1 Sunbeam Tiger crossed the Worldwide block to much fanfare, well known and documented and out of a 4 year restoration, the car brought a strong $134,400 including premium – besting our #1 value by 19%.  — Greg Ingold, Hagerty Price Guide Editor

11:58 AM: Worldwide’s biggest sale so far jives with the theme of the week – newer cars selling well. A 4,300 mile, 2009 Lamborghini Murcielago LP640 Roadster sells for $346,000 including premium. Perhaps adding to the Lamborghini stereotype, the driver was vlogging from the block as bidding progressed.  — Greg Ingold, Hagerty Price Guide Editor

11:42 AM: Several high-dollar H1 Alphas selling this week, but $14,300 for a 17-mile, military-spec Hummer seems like a ton (more like 4 tons) of truck for the money, no?  — Andrew Newton, Senior Auction Editor

11:33 AM: Officially Ford Motor Company’s 100-millionth vehicle, this is surely the world’s nicest, most significant, and at $37,400 most expensive ‘78 Ford Fairmont – an odd but real distinction. Sometimes a simple date, an event or a number can make up the majority of an otherwise unremarkable car’s value, and this is a prime example of that.  — Andrew Newton, Senior Auction Editor

11:02 AM: Worldwide’s one day sale has begun at Singh Meadows in Tempe. Over the next few hours, around 100 cars will cross the block ranging from prewar classics to modern exotics, we’re in the room watching it all.  — Greg Ingold, Hagerty Price Guide Editor

9:05 AM: On the schedule for today, 98 cars will cross the block at Worldwide’s one-day auction. Barrett-Jackson will continue with the fifth day of their seven-day auction. MAG will continue with their second day of their three-day auction. — Adam Wilcox, Senior Data Analyst

…

Thursday, January 25th

10:20 PM: Overall Top 10 Sales from all auctions through Thursday:

1. 2022 Bugatti Chiron Super Sport Coupe sold for $5,175,000 (Bonhams)
2. 2020 McLaren Speedtail Coupe sold for $2,012,500 (RM Sotheby’s)
3. 1938 Mercedes-Benz 540K Sindelfingen Special Roadster sold for $1,545,000 (RM Sotheby’s)
4. 1936 Bugatti Type 57 Atalante Coupe sold for $1,380,000 (Bonhams)
5. 1963 Ferrari 250 GT Lusso Coupe sold for $1,352,500 (RM Sotheby’s)
6. 1963 Shelby Cobra 289 W&S Roadster sold for $1,215,000 (RM Sotheby’s)
7. 2021 Ford GT Mk II sold for $1,006,000 (RM Sotheby’s)
8. 1965 Aston Martin DB5 Coupe sold for $797,000 (RM Sotheby’s)
9. 1957 Porsche 356A Outlaw Coupe sold for $747,500 (RM Sotheby’s)
10. 1984 Audi Quattro Sport Coupe sold for $665,000 (RM Sotheby’s)

10:01 PM: Is it a buyer’s market or seller’s market? Considering the median difference in price between today and the last time it was at auction of a vehicle last seen at auction in the last four years is 0% it might be safe to say it is a healthy market for all involved. — James Hewitt, Senior Data Analyst

7:03 PM: Buy low sell high (or the unfortunate oppposite…). It’s no secret I love repeat sales – let’s look at some of the best and worst so far.

Best: 

• 1961 Cadillac Series 62: From $33k in June 2023 to $81.4K today
• 1941 Lincoln PLM Custom Limousine: From $33k two months ago to $72k today

Worst:

• 1986 Ford Bronco: From $60k in 2021 to $46k in 2023 to $27k today. This Bronco isn’t garnering the bids it once was.
• 1966 Wolseley Hornet Mk II: Bought at the start of the COVID collector car frenzy for $26k and sold today for $8k.

— James Hewitt, Senior Data Analyst

6:59 PM: The right venue makes all the difference. Barrett’s heavily modified 1957 Chevrolet Custom Cameo pickup sold for $104,500 this week. That same truck was bid to only $37K in early 2020 on Bring a Trailer. After all, Barrett-Jackson’s Arizona auction is known for being the Mecca of modified cars. — James Hewitt, Senior Data Analyst

6:50 PM: The Audi Sport Quattro is a rare sight at auctions, with only 214 produced. But, this one at RM just sold for $665,000 setting a record for the model and besting our #1 condition value by nearly $100k. — Adam Wilcox

5:49 PM: $324,000 for the 2014 Ferrari FF at RM is nearly double it’s current #1 condition value. This bodes well for this years Hagerty Bull Market List. The most important part of that sale – it was a 90 mile car. It shows the FF has collector value or some buyers feel it provides something newer models can’t. — Adam Wilcox and James Hewitt. 

5:34 PM: Someone got a whole heck of a lot of car in RM’s $215,000 Lynx-built 1970 Jaguar XK-SS recreation. Great way to drive a legend for both a fraction of the price and a fraction of the worry. — C.G., Hagerty Contributor

5:32 PM: RM was able to scrape past the $1M mark to get $1.006M for a 2021 Ford GT MKII: a car with a $1.2M base MSRP. That’s a far cry from the $2M sale prices achieved by the first 2nd-generation Ford GTs coming to market when the MSRP was closer to $450K. A first-generation 2006 Heritage Edition achieved $550k. Base MSRP back then? $140K.

— James Hewitt, Senior Data Analyst

4:57 PM: $456,000 for a 991.2 Speedster goes for $200,000 more than RM’s earlier $257,600 991.2 GT3 RS. Both are right inline with the Price Guide, but quite a spread between a technically “better” performance sports car and its limited, heritage-inspired sibling.— C.G., Hagerty Contributor

4:31 PM: RM’s 1938 Mercedes-Benz 540 K Special Roadster sells at no reserve for $1.545M all in today. That same car sold nine years earlier for $1.87M. — James Hewitt, Senior Data Analyst

4:05 PM: Lots 128 and 130 at RM almost gave us the opportunity to gage the Dino vs Daytona market. In recent years, the value of “Chairs and Flares” optioned Ferrari Dinos surpassed the Ferrari Daytona, where the Dino’s chairs borrowed their style. However, the 1973 Dino 246 GTS didn’t make reserve with a $550k high bid, so the $570,000 hammer on the no-reserve 1972 Ferrari 365 GTB/4 Daytona won this round. — Adam Wilcox, Senior Data Analyst

3:02 PM: At RM, A very gorgeous and very yellow 1969 Corvette Convertible with the exceptionally rare L89-Code 427 saw lively bidding, selling for $313,000 and blowing past #1 condition value. These cars rarely come up for sale and bidding here shows that the best and rarest cars still bring exceptional prices.  — Greg Ingold, Hagerty Price Guide Editor

2:34 PM: It’s not just muscle and restomods bringing money at Barrett-Jackson. This all-stock, low-mile but used 1989 Toyota MR2 is in #2- condition but sold for $51,700, about 6 grand over its #1 value.  — Andrew Newton, Senior Auction Editor

2:34 PM: Lot 108 at RM, a 1975 Porsche 911 Carrera which sold with a final bid $80k short of its low estimate, may have looked like a disappointing sale, but its sale price of $134,400 is 12% above its #1 condition value when options are accounted for. Not bad for a car we gave a #2- condition. — James Hewitt, Senior Data Analyst

2:29 PM: Over at Barrett-Jackson, a 1970 Chevrolet Camaro Z/28 with 11,788 actual miles just sold for $176,000, double its #1 condition value.  — Adam Wilcox, Senior Data Analyst

2:02 PM: RM’s 85-lot auction is underway, starting with their first lot, a 1939 American Bantam Roadster, hammering 25% above its high estimate of $35,000.  — Adam Wilcox, Senior Data Analyst

1:37 PM: After the Cadillac V16 no sale, Bonhams’ other two pre-war heavy weights went with mixed results. While neither were bid past their low estimates, only one went on to new owners. The 1931 Duesenberg Model J Convertible, which was shown at the 1931 Paris Salon and originally sold to Queen Maria of Yugoslavia, failed to sell with a high bid of $1,880,000. However, the 1936 Bugatti Type 57 Atalante Sunroof Coupe (pictured below) sold for $1,380,000.  — Adam Wilcox, Senior Data Analyst

12:52 PM: On the other end of the spectrum… Fun, rarity and cute factor per dollar are all way high on this 1969 Moretti 500, which sold for just over $10K at Bonhams. One of just 50 built, it’s a little scruffy but very charming.  — Andrew Newton, Senior Auction Editor

12:47 PM: Bonhams’ 2022 Bugatti Chiron Super Sport 300+ hammered “sold!” at a whopping $4.7 million high bid. The offering represents one of the biggest potential sales of the week, but with a reported eight brought into the country at this specification, where will you find another?  — Greg Ingold, Hagerty Price Guide Editor

12:28 PM: Sometimes the parking lot can rival the cars in the tent. A small sample from outside Bonhams.  — Brian Rabold, V.P. of Automotive Intelligence

12:12 PM: Bonhams offering of a 1964 Ford Galaxie Convertible with 99 original miles showed up in a big way. Spending several minutes on the block, this time capsule was bid up in steady increments to over double #1 condition, this goes to show that the right car in the right place will bring out the bidders.  — Greg Ingold, Hagerty Price Guide Editor

12:00 PM: Spitting rain has turned the Bonhams show field into a marsh. It’s fun to watch hulking, chrome-covered Deuseys cut ridges through the muck. For some cars here, this is the first time they’ve seen rain in decades. — C.G., Hagerty Contributor

11:45 AM: At Bonhams, the 1930 Cadillac 452 V-16 Roadster failed to sell after a bidding slowdown at roughly $140,000 under low-estimate. That’s a shame, as for Pre-War American metal, it doesn’t get much more blue-chip than this. And, as a perfect contrast, the 1951 Kaiser Deluxe that immediately followed saw quick bidding that pushed the winning bid to the $35,000 high estimate. — C.G., Hagerty Contributor

11:00 AM: The first 15 lots at Bonhams were offered with no reserve and sold with varying degrees of success. A 1966 Aston Martin DB6 Saloon sold for $268,800 (29% over its appropriate Hagerty Price Guide condition (#4+) value). The best buy of the group was the 1959 Citroen ID 19 Berline which sold for $19,040 after fees, half its low estimate.  — Adam Wilcox, Senior Data Analyst

10:17 AM: Bonhams is about to begin. There is a great lineup of cars with some big pre-war headliners such as a 1936 Bugatti Type 57 Atalante, 1930 Cadillac V16 Roadster, and 1931 Duesenberg Model J, however the biggest anticipated sale is for a 2022 Bugatti Chiron Super Sport with a $5.5M high estimate.  — Greg Ingold, Hagerty Price Guide Editor

9:00 AM: On the schedule for today, Bonhams and RM Sotheby’s will both hold their single-day auctions, and Barrett-Jackson will continue the fourth day of its week-long auction.  — Adam Wilcox, Senior Data Analyst

8:15 AM: Checking into my hotel in the heart of Phoenix, and again, a quick conversation with the check-in desk proved Barrett-Jackson is the name-brand of the week, as that’s all you’ll hear from locals. — C.G., Hagerty Contributor

Wednesday, January 24th

10:15 PM: The most expensive vehicle to sell so far is a unique 2009 Chevrolet Corvette that was customized to look like a ’63 split-window Corvette. At $128.7k it also costs as much as a split-window Corvette…

10:00 PM: If you’re looking for a bidding thrill on a budget make sure you get in and out early. The average price of the a vehicle creeps up substantially as the week goes on. This is after only three days at Barrett-Jackson’s auction:

7:57 PM: Top tip: as you’re prepping to bid on cars make sure to research if they have come to auction before. Many have: 513 cars at the Arizona auctions have been to auction before – 223 of those have been at auction within the last year. Take this 2014 Mercedes-Benz G63 AMG 6×6 Brabus for example: in the last two years we have seen this exact vehicle auctioned six times at four different auction companies. The high bid has ranged by a staggering $450k, from a high of $1.35M in late 2021 to a low of $900k in March 2022, and the two times it managed to sell had an all-in price of $1.175M and $1.21M. At Broad Arrow’s August 2023 Monterey auction it reached a $1M high bid and failed to sell. Any guesses on what it will get bid to (or sell for) this week? — James Hewitt, Senior Data Analyst

12:05 PM: We’ve landed in Scottsdale and are surveying some of the lots that will be heading across the block tomorrow. This 1948 Citroen 2CV at Bonhams is a rare model from the first year of production. It’s a little rough around the edges but charming. Features unique to early 2CVs include: a corrugated hood, early-style grille, and a full-length folding roof. The 9-horsepower 2-cylinder was good for a 0–25mph time of 42.4 seconds. 60mph was out of the question.  — Andrew Newton, Senior Auction Editor

The post We’re Live at the Arizona Auctions appeared first on Hagerty Media.

It’s easy to get lost in the six-figure muscle cars and the big-sale Ferraris that dominate headlines during busy points in the auction season. Even as the market cools, auctions like Mecum Kissimmee can make it feel as though many cars have gotten out of reach. There are still deals to be had, for the intrepid bidder, though. Sometimes it takes finding a car that might not appeal to the typical buyer at that auction, or being willing to pick up something that could use a little work. Here are five cars from Mecum Kissimmee that offer plenty of fun and were comparatively well-bought.

1995 MG RV8 ($30,250)

This is an obscure car with an interesting back story that borders on the bizarre. The mega-popularity of the Mazda MX-5 reminded the Brits—who had a virtual monopoly on sport cars in the immediate post-war era—that there was still profit to be had in the segment. With a pitifully small R&D budget (reputed to be under $10,000,000), Rover decided to utilize the new MGB bodyshells that it was supplying to the aftermarket as the basis for an updated MGB V8. The RV8 used the higher windscreen of the B GT for more headroom, the 3.9 liter Range Rover V8 gave the car decent poke and great noise, and the leather and wood interior was top notch Rolls/Bentley quality.  All of the 1982 cars produced were right-hand drive.

For the money that one might expect to pay for a really good TR6, the buyer here got something several orders of magnitude better, faster, more comfortable, and much more interesting.

1988 Ferrari 328 GTS ($77,000)

As a long-term owner of a Ferrari 308, I know there’s a lot to like about these cars, and very little to dislike. As the final development of the 308, which dated back to 1975, 328s are attractive, make great noises, and contrary to what most people believe, they’re quite easy to live with. Not much goes wrong, the engine most emphatically does not have to come out for a major service, which, at the right Ferrari indie shop, costs under $5,000 and takes place in five year intervals. Its arguably the last Ferrari that is DIY friendly. There really are very few tasks that a mechanically inclined owner can’t accomplish, and parts support is quite good.

Although red isn’t my jam for a 328, it’s what most people want, and at $77,000 including fees, this 45,000 mile example was well bought in comparison to the $15,000 or so more it might have brought a year ago. To put it into perspective, a much more common 911 Carrera G50 coupe with similar miles still might come close to breaking $100,000.

1994 Dodge Viper RT/10 Roadster ($27,500)

If you’re reading this, the Viper probably doesn’t need much introduction. A totally analog brute of a car—if the 427 Cobra had remained in production for another 25 years, it probably would have resembled the original Viper. The fact that it happened at all was nothing short of miraculous and Vipers remain undervalued cars with a huge upside.

At first glance, I thought this was a misprint in the auction results—Somebody walked off with a Dodge Viper for the price of a two-year old Accord. 25 grand. Let that sink in. Yes, there’s some evidence this car needs some straightening out—it’s slightly modded, and the panel gaps on the hood are pretty significant. But, if the car has no major needs or something terrible in its history, this sale represents a good way to get into a very characterful 400 horses at a solid discount.

1987 Pontiac Trans Am GTA ($10,450)

The Trans Am GTA was more of a grown-up’s Firebird, typically decked to the gills with options. ‘87s offered a 210-horse 5.7-liter V-8 with tuned port fuel injection that made an impressive 300 lb. ft. of torque. The GTA package also got you four-wheel discs and the WS6 suspension package. It was one of the cars that helped make it clear that the malaise era was over, and it’s certainly significant for that. This one had just 88,000 miles on it, and a Knight Rider KITT-esque digital dash.

Why is it a deal? Because $10k. For whatever reason, GM F-body cars of the ’80s don’t get quite as much love as the Fox-body Mustang. It’s a shame really—they’re good-looking, credible performance cars, and this GTA, unlike its 1970s predecessors, should be reasonably fun on a twisty road with the upgraded sway-bars, springs, and shocks that you get with the WS6 package. At just over $10,000, this strikes me as one of the better deals of the sale.

1990 Lotus Esprit Turbo SE ($27,500)

Giorgetto Giugiaro’s origami wedge that would become the original Lotus Esprit was such a seminal design, it was a naturally tough act to follow. The first facelift of the Lotus Esprit, done by Peter Stevens, wasn’t initially viewed as a success. It has, however, aged really well, as has this particular example. The red paint remains glossy, the trunk and engine compartment appear tidy, and the wear-prone supple leather interior has held up reasonably well. I’ve owned one, and while not exactly maintenance-free, they’re not as bad to live with as you might think, assuming the previous owners stayed on top of things.

Because they’re four-cylinder cars, and because of the fact that they have a reputation for being irritating to own, Stevens-body Esprits are the deal in the exotic car world. That said, parts and real expertise are available, they’re far more DIY-friendly than a contemporary Ferrari or Lamborghini, and Esprits very much look the part of ’90s supercar. At well under $30,000, the new owner should be quite pleased.

***

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The post 5 Bargain Sports Cars from Mecum’s Kissimmee Auction appeared first on Hagerty Media.

It’s not unusual to see a Ford under the Mecum auction tent. By our count, 126 Mustangs crossed the block in Kissimmee last week, to say nothing of the other Blue Oval muscle and collector cars that were part of Mecum’s 4000-car Florida cavalcade. It’s quite a rare occurrence, though, for a Ford GT40 to come to public sale.

Naturally, then, our ears perked up when we got wind that a 1966 GT40 Mk I Road Car would be offered. Its sale last Friday for $6,930,000 including fees put a fresh marker down for the values of the ultra-rare road-going GT40s, but it also said something about where Mecum appears to be headed with its ever-growing Kissimmee event.

This example, chassis P/1052, was purchased new by an Italian buyer and specced with some race-oriented tweaks over the standard street GT40. The engine is noted on the build sheet as “High Performance with Weber [carburetors],” and also lists a “[r]ace exhaust system supplied in addition to Road Exhaust, one rear wheel and tyre extra, [and a] High Pressure (Race) Oil Pump.”

Two years later, three-time Targa Florio and Sebring race winner Umberto Maglioli purchased the car. It then went on to two subsequent owners, both in Germany, the latter of whom owned the car from 1994 on.

Mecum states that RUF Automobiles, the famed Porsche modifier, restored the car. Though by anyone’s standards RUF creates excellent cars, that seems an odd choice given that there are known, capable GT40-specific restorers just across the English Channel from where the car resided. Still, the car presents very well, and appears to retain many original components. It’s a solid example of Ford’s original supercar.

Pricing GT40s can be tricky, though, especially when it comes to the road cars. Provenance can be a trump card for the race cars—those that were successful on track or driven by the likes of Ken Miles or Bruce McLaren are likely to be more valuable. Famous butts sitting in seats, along with famous accomplishments, aren’t as frequent and don’t carry as much weight in a road car.

“I think originality is probably the biggest thing to consider with a road GT40,” says Gary Bartlett, a collector and owner of a road-legal Mk III. “Looking at the car’s history is important—whether it’s been wrecked or burned up and subsequently rebuilt—the usual things that can happen to these old cars. To me, originality is paramount because most of them don’t have that interesting racing history to rely on.”

The other sticky wicket with GT40s is that they simply aren’t very good cars for the street. “My wife and I quickly discovered just how hot they are in street use,” says Bartlett. “I had no idea. I don’t mean the heat of the engine—I mean inside the car. This was in April on what was probably a 70 degree day, and I thought my wife was going to pass out.” Since then, Bartlett has been more strategic about deploying his GT40: “I’ve got around 2000 track miles on my GT40,” he says. “But I’ve only put maybe 150 miles on the road. They’re amazing to drive at speed, but they’re incredibly uncomfortable in street use.”

That said, the road-going GT40s’ place in automotive royalty is recognized. A Mk I sold at Amelia in 2016 for $3.3M, and later that year another brought home $2.9M in Monterey. Those comparables are closing in on eight years old, however. Bartlett indicated that, given the car’s solid restoration, overall originality, and the age of prior sales, he was unsurprised the price landed where it did. Incidentally, the Hagerty Price Guide #2 (Excellent)-condition value for a ’66 Mk I GT40 is $6.7M, not far from the $6.9M final sale.

Along with establishing a new data point for the values of the Mk I GT40, this sale may have planted a flag regarding Mecum’s intent for their flagship event. Long a home to American muscle and comparatively attainable collector cars, this American blue chip GT40 rests at the confluence of Mecum’s roots and where Kissimmee is headed.

That’s not to say Kissimmee is no longer affordable—contributor Rick Carey noted in his post-auction report just how much is available at all price points and for all car enthusiasts at this 4000+ lot event. The median sale price was still an earth-bound $38,500. But, and this is significant, this year’s $17.875M high sale, a 1963 Ferrari 250 GT California Spider, pummeled last year’s top car by a resounding $14M.

Adding blue chip cars makes sense for a live auction, even one as large at Kissimmee. Though it’s become a destination—something more than just another auction—there’s no escaping that online auctions are gaining the most traction with sales of mass-produced collector cars in the sub-$250k arena. Live auctions are still holding sway toward the top of the market, so featuring cars like this GT40 is a smart move. It’s a big tent, and there’s room for more than a few big cars.

***

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New truck shoppers know the Ford F-150 Lightning as the electrified version of the venerable F-150. Enthusiasts might think of the model a little differently, and remember the thunder of a V-8 backing up the name. As the hot-rodded version of the F-Series that debuted in 1993 as Ford’s entry into the on-again, off-again full-size muscle truck segment, the ‘93-95 Lightning has spiked in value as it rides a wave of interest among collectors.

Unlike with their segment-creating Mustang, Ford wasn’t the first mover when it came to fast trucks. Dodge lays claim to that title, having installed the 426-cubic inch Wedge engine into a very limited run of its D-Series pickups from 1964-66. They returned to the theme in the late ’70s, this time going all-out with stickers, exhaust stacks, and a big V-8. The 360-powered ’78-79 Lil Red Express made a splash as one of the quickest and most ostentatious vehicles on the market, only to disappear as quickly as it arrived.

A decade later, Chevy decided to capture the full-size muscle pickup segment with the 1990 454SS. Available in black or red, the bowtie pickup had the sandbox to itself for a couple years till Ford decided there was enough of a market for a little healthy competition, and debuted a powerful truck of its own.

While Chevy went with the basic approach of dropping a big block in the lightest possible configuration, Ford decided to have its Special Vehicle Team tweak the 351-cubic inch engine with a bevy of go-fast bits. Most noticeable when you pop the hood is the specially tuned intake manifold, but SVT also added GT40 heads, a larger throttle body, a more aggressive camshaft, and revised exhaust to maximize airflow. This resulted in 240 horses and 340 lb-ft of torque, 40 more in both measurements than the base 351. Putting power to the ground is a recalibrated four-speed automatic, aluminum driveshaft, and limited-slip differential.

Inside, adjustable high-backed bucket seats embroidered with “Lightning” set the interior apart from the average F-150. On the outside, the Lightning is clearly not your average early ’90s work truck, but it’s also not nearly as overt as Dodge’s Lil Red Express. Lightning graphics on the bed, 17-inch alloy wheels, color-matched grille and bumpers, and a front spoiler all suggest this is a sport(ier) pickup, but the look isn’t over the top.

No one will mistake a stock Lightning for an autocross champ, but SVT did make some handling improvements, too: lowering springs, improved dampers, bigger sway bars, and sticky tires completed the package.

The result is a truck with plenty of personality, if not outright performance. These first-gen Lightnings are a far cry from the brawn and capability of their 700-horse F-150 Raptor R descendants, and that’s ok. Sometimes a good-looking truck with clean lines, a decent-sized bed, and a nice, throaty burble is enough, and based on the Lightning’s valuation data, it seems that plenty of enthusiasts agree.

Like much of the rest of the collector market, these trucks began to appreciate in 2021. Where they differ from many popular models is that their prices continued to surge through the end of 2022 (after the market’s peak), and then, as the rest of the market began to taper, the Lightning has held steady. This generally tracks with the pickup segment as a whole, which has posted only minor losses compared to significant drops in more mainstream segments like sports cars and the once-white-hot collector SUV segment.

Also similar to broader market behavior, the cleanest examples have surged in value more than driver-quality vehicles, and the value delta between conditions has been magnified. That said, the ones you wouldn’t be afraid to throw two-by-fours in the back of are still relatively attainable, with #3 (Good)-condition Lightnings around the $25k mark and solid drivers hovering around the $10,000 range.

The outlook appears steady for the Lightning’s future, as well. About 71 percent of buyers are from Gen X and younger generations, and that share has been the same the past three years. Millennial interest is particularly strong, representing a nearly 30-percent share of Lightning insurance quotes, outstripping their market share by seven percent. Quote volume was up a healthy 13 percent in 2023, too, indicating growing demand.

No, the first-gen Lightning won’t power your job site like the new one can. It does, however, offer a durable, usable, and attainable entry point into the collector pickup world.

***

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Mecum Kissimmee is simply unlike any other collector car auction, even the major multi-auction weeks at Amelia Island and Monterey. Why? It’s the scale of it all. This year Kissimmee exceeded 4000 vehicle lots, rolling across the block in a continuous span of 13 days. The sell-though rate was a modest 69.9% but a record total of $225.5M changed hands. It wasn’t always this massive, though.

When Mecum Auctions first ventured into Florida in 2010, the state was a site of auction confusion. No one—other than the auctions at Amelia Island—had much effect with a major consignment (“run what you brung”) auction on the scale of Auburn Fall, Scottsdale, or even Mecum’s longtime signature event, the Spring Classic at Indianapolis.

Before Mecum arrived in the Sunshine State, other auctions’ car counts were modest, as were sale rates, even accepting the auction companies’ claims as true. Florida, despite benign weather and a welcome respite from northern snow and cold, was a sideshow. Many tried, few held on.

Then came Mecum’s first sale there in 2010, right out of the box with the first Florida auction to offer over 1000 lots. They sold 78.1% of the lots offered, comparable with RM’s 79.4% of 466 lots at Ft. Lauderdale and Barrett-Jackson’s 78.7% of 464 lots at West Palm later that spring.

Mecum Kissimmee hit a stable groove after that, stalling at 2158 lots/77.9% sale rate in 2012, 2595 lots/70.1% in 2013, 2743 lots/72.3% in 2014, 2332 lots/65% in 2015, 2434 lots/55.3% in 2016. Great numbers, but not earth-shaking.

COVID was the watershed moment when there were two Mecum Kissimmee auctions. Neither (in January and August) was remarkable, nor was post-COVID in 2021 with 2203 lots and a modest 56.5% sale rate, but it was the first time Kissimmee exceeded $100 million with sales of $113,621,932. It took until 2022 for the car count to push over 3000 with 85.8% of them selling and a total of $204.3M.

Physically, Mecum Kissimmee is a monumental enterprise covering the 200 acres of the Osceola Heritage Park. In addition to two permanent structures, the Silver Spurs Arena and the Events Center, over 20 acres are under temporary tents and enclosures that run, literally, as far as the eye can see. It makes for long days, short nights, and miles of walking. An acquaintance said on Friday he’d already logged 10½ miles on his pedometer.

It takes 450 people to conduct the sale, doing everything from moving cars to and from display areas to manning the food courts (yes, there are two of them). Every display zone had one or more area managers to answer questions. Three of the tents are glass-sided and house Main Attraction and feature cars.

This year Mecum added a separate indoor display housing several of the Main Attraction seven- and eight-figure Ferraris against a black background with elegant (and effective) lighting. This bunch represented about a third of the 40 Ferraris offered, and included the week’s top sale, 1963 250 GT SWB California Spyder (s/n 4137) that changed hands for a generous $17,875,000.

That gorgeous California Spyder is also indicative of an ever-increasing number of million-dollar cars at Kissimmee with 23 lots bid to $1M or more, of which 13 were sold for a total of $52,745,000. No-sales on the block included two Ferraris that were bid to even more than the Cal Spyder.

But despite the presence of six- and seven-figure cars, the bulk of Kissimmee is about affordable cars (and trucks) that represent achievable gratification. The median transaction was a modest $38,500 including Mecum’s 10% buyer’s commission.

There were 531 Chevrolet Corvettes, 16 Plymouth Road Runner Superbirds, three of the much rarer Dodge Charger Daytonas, and 25 ‘60s and ‘70s Hemi Mopars. Mustangs? 126 of them just from the era before the Mustang II and at least three “Eleanor” replicas. It seemed like there was a Bronco or a Land Cruiser in every tent, something that was especially appropriate given the rain that had turned some of the walkways into bogs, despite the application of dump truck loads of bark and wood mulch.

Buyers of Mecum’s “Road Art” could get their new decor home in one of 457 pickups in the auction, including a pair of gorgeous Chevys with NAPCO four-wheel drive conversions.

There was a Tucker (one of 50 built) that sold for $1,870,000, a delicious 1912 Simplex bid to $325,000. Eccentric farmers could choose from tractors by Porsche or Lamborghini. “Cute” included a 1992 Autozam AZ-1 kei car with 657cc turbocharged three-cylinder engine sold for $21,450 and a 1941 Bantam convertible sold for $30,800. An inexplicable 1982 HMV “Freeway II” coupe 3-wheeler (so diminutive it should never venture even close to a freeway) was bid to $3500. Imagination and creativity was nowhere better expressed than by “Dueception”, a ’32 Ford Phaeton hot rod with the complete drivetrain from a 4.5 litre Porsche 928 V-8.

The plain fact is that anywhere on the 200-acre grounds of the Osceola Heritage Park there was something that was intriguing, creative, beautiful, or interesting. That is the real charm of Mecum Kissimmee, aside from the disarming $225M that changed hands.

The post Thirteen Days in Kissimmee appeared first on Hagerty Media.

By the time my friend Tom got his driver’s license, the odometer on his dad’s 1980 BMW 320i was inching toward 200,000 miles. The Polaris Silver paint had long since lost its sheen, and the interior’s Pacific Blue cloth was worn through in some places and showing threads in others. But boy, was it fun. Bessie, as Tom called the old hand-me-down Bimmer, introduced us to the joys of momentum driving found only in a light, sporty, underpowered platform.

Bessie was a first-generation 3 Series—an E21 in BMW chassis-speak. Outshone by the sporting 2002 before it and the massively popular E30-generation 3 Series that followed, the E21 nevertheless deserves credit for helping take BMW’s sporty identity more mainstream in the U.S. market. Today, it doesn’t get the wide adulation that its siblings do but has nonetheless increased in value steadily over the last several years.

To a couple of teenagers, though, what Bessie and her fellow E21s meant for automotive history was about as exciting as Mrs. Fisher’s algebra exam. This tired 320i mattered to us because it got us out. Off campus, out of Northern Virginia’s suburbs, onto blacktop coursing along the Potomac River, past Round Hill’s apple orchards, and lost in the rolling hills near West Virginia.

Imperfect but endearing, Tom’s BMW navigated our escape roads more precisely than a car this age had any right to. The 101-horsepower, 1.8-liter four (the 320 started with a two-liter four in the U.S. in 1977 but switched to the smaller engine for ’80-’83) took a while to get the car up to speed, but once there, the chassis’ composure made carrying pace a breeze. The 320i had plenty of body roll but almost always hung on. Almost. The semi-trailing arm rear suspension could make the car a little bit of a handful at—and over—the limit, especially in the hands of ham-fisted young adventurers.

Period road tests lauded the 320’s engaging nature, with Car and Driver’s Rich Ceppos asserting in 1980 that “[t]he 320i is at its best on semi-desert­ed country two-lane, hammering along just short of its limits. All the controls are direct, linear, and full of feedback. The steering is light and accurate. The brakes are sure.” Ceppos also noted, and I remember, a silky shifter that moved between the five-speed manual’s gears with easy “fingertip flicks.” A willing partner, then, for enthusiastic driving.

Inside, BMW blessed the diminutive 320 with utilitarian simplicity, using attractive but not luxurious materials atop a clean, driver-focused layout. The gauges and switchgear will be familiar to anyone who has spent time in an E30. Peer around and the cockpit feels small but not cramped, thanks in large part to spindly thin pillars and ample glass all around. If Tom’s car had the available air conditioning, I don’t think we ever used it—the hand-crank sunroof and open windows were plenty in the warm months, and the heater’s perfectly aimed footwell vents kept us toasty when it got cold.

The 320i’s exterior is where the lineage to the 2002 is most clear, though there’s also some visible connection to its larger brother, the 5 Series. It’s not sexy like an Alfa GTV, but there’s a cleanliness to Paul Bracq’s E21 design that speaks to the car’s sporting intent without resorting to gimmickry.

The E21 didn’t sacrifice utility for capability, either. There was plenty of trunk space, and the back seat could accommodate a couple more friends, though not necessarily for longer trips. Fuel economy was pretty good, too, at about 25 mpg on the highway.

As a first car, it more than got the job done—it gave a glimpse of driving pleasure in its simplest form.

Aside from the other 320i in our high school parking lot, a beautiful Brazil Brown example wearing alloy wheels, we didn’t notice a whole lot of E21s left in our area (and this was in 1996). That’s saying something, since Washington, D.C. and the mid-Atlantic region teemed with these cars on their debut. About 186,000 E21s made it to the U.S. and largely sold to young, affluent buyers attracted to the brand’s recently released Ultimate Driving Machine slogan. While the 320 helped endear BMW to a broader base of buyers than the enthusiast-oriented 2002, as it aged, the E21 never seemed to gain the fervent following that its predecessor enjoyed. The younger E30, which went from cheap and plentiful used car to track car darling to emerging classic, has likewise always seemed to have a leg up on the E21.

Why is the middle child less appreciated? Most critics point to a little too much weight relative to the 2002 and not quite enough power compared to both the 2002 and the E30. Emissions regulations limited BMW’s engine offerings in the U.S., and the E21’s evolution to a slightly softer, more civilized approach compared to the 2002 turned off die-hards.

That said, the 320i has been quietly picking up steam as a collector BMW. Back in 2019, we noted that E21s were on the rise, up 23 percent from the prior year. Maybe we should have picked it for that year’s Bull Market List because since then, #2 (Excellent) condition examples gained 161 percent, to $21,214. Values have come down a bit from the 2022 peak, but the E21 320i has appreciated faster than the 1989-91 325i 2-door sedan (up 87 percent) and the 1968-76 2002 base model (up 103 percent) over the last five years. It is, however, still a lot cheaper than the other two and remains nearly half the value of the 2002.

The in-between syndrome from which the E21 suffers is also evident in our demographic data. The average age for people who seek quotes on them is eight percent younger than the overall market—healthy, but not enough to suggest a continued surge in value. Also, quote volume growth since 2021 has been slow. Compare that to the E30, which has stronger interest among millennials by ten percentage points. The 2002’s demographics aren’t as youthful as the E21, but more people overall are reaching out for quotes.

True, the model doesn’t have the passionate following of the 2002, and BMW didn’t offer a six-cylinder E21 in the States as it did with the E30, but a 320i remains an accessible entry point for those aspiring to classic BMW ownership. Tom’s dad knew what he was doing when he handed his son the keys to Bessie.

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The post BMW’s First 3 Series (E21) Is Quietly Climbing appeared first on Hagerty Media.

The first night I tucked my new-to-me 1967 Porsche 912 into my garage (read part one of Lyn’s story here), two things happened. First, I pinched myself. It had always seemed that the odds of my getting a car like this settled on the “outlook not so good” answer from a Magic 8-Ball. Second, a wave of anxiety washed over me. This is my first project car, and I had no clue where to start—I didn’t know what I didn’t know.

I took a breath, recalling the joys found in my dad’s 356 Speedster. If I was going to make some fresh memories of my own, there was nothing to do but get cracking.

This effort should have been kicked off with a trip to California’s Department of Motor Vehicles, but that doesn’t exactly inspire the romance of classic car ownership—it’s more like a grade school visit to the principal’s office, especially given the implications of my 912’s non-operational status. I knew it’d be a while before the 912 would be on the road, so I did what any self-respecting scaredy-cat would do: I procrastinated.

In my defense, the first step in my delay-the-inevitable strategy was critical to the process: I sought out reference material.

I was desperate to know more about my car’s story. The person I’d purchased the 912 from had meant to get it running but never did, and ultimately never put the title in his name. So, I tracked down the guy whose name was on the title. As I left a message on his machine, he picked up. He—I’ll call him Sam—was thrilled to talk with me about the car. He’d bought it from a corrections officer in Santa Rosa who’d started the restoration—that’s where the brand-new floor pan and dashboard, among other things, made their way onto the car, but the project was eventually abandoned. Sam bought the car and a mountain of parts from the officer, but soon realized he wanted something further along in the restoration process. He sold the car and all the parts to a dealer, who then sold just the car to the owner before me. Then, the car languished.

This was a car that everyone, and then no one, wanted. As a result, it had been sitting outside for the better part of five years before making its way to me. It was as if all these previous owners were shepherding it along until I was ready. Serendipity, baby.

Now that I had a bit of my 912’s history, I set about understanding what resources there were within the 912 community. For the first time ever, I joined a discussion forum and even posted. For someone who traditionally doesn’t like asking questions for fear of looking stupid, I put myself out there. I was happy to embarrass myself and admit I had no clue what I was doing and would likely get lots of things wrong, but was excited to learn. I received a lovely welcoming response and even got some great advice about transmission rod boots among the encouragement.

I also picked up a couple of books to have with me in the garage. The 911 & 912 Porsche: A Restorer’s Guide to Authenticity by Dr. B. Johnson came highly recommended, as did the Porsche 912 Workshop Manual and Owner’s Manual. The latter includes some helpful mechanical advice but also imparts the wisdom of taking your car to a well-trained mechanic for detailed jobs.

With literature in hand, I started taking stock of the 912 and what it needed. The more I looked things over, the more I grew confident in my purchase, but there was still plenty of work ahead of me. With each turn of the page, I could see what was correct on my car and what wasn’t.

Somewhere along the line, a previous owner removed the correct 1967 sealed, glass H4 headlights that Ralph Nader deemed unsafe and replaced them with “sugar scoop” units from 1968. I prefer the original look, so I bought a refinished set off eBay before I’d even turned the 912’s key. Even a newbie like me knows that cosmetic fixes aren’t top priority, but I rationalized straightforward projects as a means of getting comfortable with wielding tools and bringing my 912 back to life.

Though it had a new dashboard, the rest of the interior was rough. Fortunately, I’d gotten the car around Thanksgiving and online Black Friday sales were in high gear. I went on a spree, purchasing an entire new interior, including carpets, an upholstery kit, and dash trim plate at a massive discount. I’m a sucker for oxblood, and it’s going to look great with the current patinated exterior, not to mention my future paint plans.

Was I getting ahead of myself? Maybe a little, but I wasn’t ignoring the steps to get this little 912 running. I knew the engine turned over manually, but before checking to see if it could run on its own, I needed to do something about the incredibly rusty gas tank. I ordered a new one as well as the requisite plugs, fitments, and sleeves that go with it. The old sending unit was virtually falling apart so I decided to replace that, too.

The new battery went in next, and to my delight every light except for one of the turn signals worked. Even the clock ran properly! No classic car I’ve ever owned had a clock that was accurate more than twice a day. This was the biggest win yet—the prospect of electrical work was not something I was looking forward to.

As my bank balance shrank, I knew I needed to tap the brakes on the purchases, but I’d do that after I bought new rotors (the pads were actually in good shape). And shocks. Okay, now I was done. Almost. There was a spot up front on the driver’s side directly under the battery that was notorious for rusting out. Mine was no different. I’d need a new front suspension pan and someone to do the welding work before it was safe to drive. If indeed the car actually started.

Once again, I took a breath.

I considered the progress I’d made in mere weeks. There’s now a mile-long to-do list, but having that list and crossing things off it meant I was headed in the right direction. Emboldened, I decided it was time to sort the title.

I headed to the Auto Association of America, which in California can perform some DMV functions, including vehicle registration. Good fortune rained down. It turns out that Sam, the previous-titled owner, was wise enough to register it as non-operational, too—so there’d be no inspections or convoluted processes to worry about. The lovely woman asked for my $292, and there, without fuss or friction, I’d taken care of the legal paperwork. I was in and out in 15 minutes.

The momentum was building. My priority was to get this thing on the road. I had debated prepping the car for paint work, but a couple things stopped me. Almost every other 912 owner I’d come across suggested I just get out there and enjoy the car as-is. Closer to home, my friend and co-conspirator, Hagerty Driver’s Club editor-at-large Aaron Robinson, recently penned an argument for embracing imperfection in our cars, and that sealed it for me. I decided to press on with the mechanical improvements and enjoy the patina. I’d complete the interior because I wanted the cockpit to be a pleasant experience, but for now, it was time to focus on what was under all the sun-damaged sheet metal.

Not long after, with the new gas tank in and fresh gas coursing through its veins, the moment of truth for my 912 came. Robinson, ever helpful, stood by the engine with his can of starter fluid at the ready as I turned the key.

“More gas…More. Again. It’s starving—more,” he said between cranks. I pumped the throttle and the engine coughed. The exhaust blew out a cartoonish cloud of soot.

“More gas. Again.” Robinson sprayed starter fluid into the carbs and it shuddered to life. That simple four-cylinder settled into rhythm, making the same high-humming and happy sound of my father’s long-gone-but-not-forgotten 356 Speedster.

Let the adventures continue.

***

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The post Buying My First Porsche and Everything After—Part II appeared first on Hagerty Media.

It spans 28 feet and flaunts nine doors, six wheels, and 455 cubic inches of front-wheel-drive Oldsmobile V-8 power. The AQC Jetway 707 rests before me like a magnificent, curious creature whose evolutionary traits were arrested in development like an ancient bug in sticky amber.

American Quality Coach’s short-lived effort to create the ultimate airport limousine began in 1968 and ceased in 1970, victim to the expenses of its elaborate design. The Jetway, more than anything else, is genuinely weird. That makes it worth saving.

This battleship grey behemoth, the 12th of just 52 made, sat decomposing for years before recently being rescued by Cleveland Power and Performance, a multifaceted speed shop in Columbia Station, Ohio. The Jetway represents the outfit’s largest and perhaps most complex, involved restoration to date.

Tim Mulcahy keeps busy at Cleveland Power and Performance. In addition to heading up the shop’s online sales and social media presence, while also managing the physical office, on the day of my visit he guides me through the shop’s enormous compound.

“What started as Cleveland Pick-a-Part in 1986 evolved in the early 2000s to focus on salvaged late-model American performance car parts, and we eventually added a full shop turning out custom builds,” Mulcahy explains. He’s leading me past rows of staff, diligently processing orders at their desktops. “A little less than ten years ago, we’d started taking our builds to auctions and shows, so we changed our name to ‘Cleveland Power and Performance’ to more accurately reflect what we do.”

Once past the front office, Cleveland’s interconnected buildings take on the air of a museum’s backroom archives. We meander through warehouses full of neatly catalogued parts carefully pulled from wrecked American performance cars.

In tidy rows rest turn-key modern V-8 drivetrains pulled from Mustangs, Dodge SRTs, and Camaros, each packaged to start and run right in place on their pallets. The restoration shop bustles with mechanics and craftsmen working on more than a half-dozen vehicles, including an old Charger with a Hellcat engine swap and a beautifully-restored Chevy 454 SS pickup.

It’s a big place, which means a lot of walking. Beyond the upholstery facility, I take a break on a luxurious, stitched leather couch that’s built into the back end of a metallic yellow ’48 Caddy. (They start at about $10,000, in case your La-Z-Boy needs replacing.)

We eventually arrive at our destination. I walk through the door of the paint shop—one of the few indoor spots with enough room to house their recent acquisition—and the sheer length of AQC’s Jetway 707 envelops my field of view.

It’s a lot to look at, this Jetway, both from its sheer size and from all its intricacies. Everything ahead of the windshield is unmistakably ’68 Oldsmobile Toronado, but the rest is all AQC’s effort to create a spacious and luxurious airport shuttle.

“They went over and above trying to build something right—you could tell they cared about what they were doing,” explains Rick Fragnoli, one of two brothers who own Cleveland PaP. “From my research, they put so much money in their tooling and creating this hand-built product that they just never got off the ground.”

Countless details testify to the time and effort involved in developing and engineering the Jetway. Fragnoli believes the steel roof on early models like his was welded from multiple pieces rather than stamped as a single unit. (Later models used fiberglass.)

The windshield is unique to the Jetway, and so are all those doors. “People think the doors are from a GM station wagon, but all the bodywork behind the front fenders was custom-made by American Quality Coach,” says Fragnoli. The panels, even the roof, are heavy-gauge steel, and though there’s a staggering amount of rust, the Jetway still feels sturdy in construction.

Three rows of three individual seats each, plus a bench in the back and room on the split bench up front, means that 14 passengers could fit comfortably. There’s more than enough headroom for all aboard, and there’s ample space for old-time suitcases in the separated luggage compartment in the back. Dual trailer beam axles on leaf springs help support all the weight out back.

All this capacity is the result of AQC’s founders’ decision to build the Jetway 707 with GM’s full-size front-wheel-drive architecture. The Olds 455 V-8 provided ample power, but more importantly, the lack of a tunnel for the drivetrain enabled a flat floor pan for added occupant comfort.

That comfort, at least in this particular Jetway, was initially offered to GM executives who used it as a shuttle to and from Detroit’s Metro Airport through the late ’70s. It was then used by the airport itself up until the mid-’80s. After that, a limo company took ownership, adding the odd “centipede” graphics down the sides. A family picked up the Jetway in 1999 and put it to their own use. “There’s even a photo of this car at the Woodward Dream Cruise in 2004,” says Fragnoli.

Things took an unfortunate turn not long after 2004 when a younger relative shot out the windows of the old limo with a BB gun. The owner angrily set off in the Jetway to confront him and managed to severely damage the transmission in the process. The Jetway then sat until it was listed for sale in the fall of 2023. When Fragnoli saw the listing, he did not hesitate.

“There’s no doubt it’s pretty rough,” says Fragnoli, pointing out that those shot-out windows are custom pieces. He then motions me toward the front seat, which he demonstrates can move back and forth despite being bolted down—that’s how much rust is in the floor. “It is going to be a lot of work,” he added, “but nothing we can’t handle.”

Fragnoli has a battery cart at the ready, with which he demonstrates to me that the Jetway’s big 455 starts without a hitch. Aside from the abundant exhaust leaks, the V-8 sounds pretty healthy. When he shuts it down, I ask what his plans are for the behemoth.

“I’m not a big restoration person, but I think it might be a little sacrilegious to tear this one apart.  The original plan was to do a front-wheel-drive, twin-turbo LS setup,” he says with a wry smile. “But then we thought about how rare it is—one of only seven left in the U.S. and nine left in the world, unless someone else finds one. It’s not going to be an OEM nut-and-bolt project because there’s no paperwork left on these, but I think we’re going to keep it more original to start.”

Fragnoli intends to drive this Jetway with its existing 455 and share it with fellow enthusiasts. Despite the huge undertaking ahead of the team at Cleveland PaP, he’s already making summer plans. “The goal is to be on the road with a driving, functional car with glass back in it and the interior done,” he says. “But the bodywork, the paint, some of the metalwork’s still going to be in progress. We’ll get out, do some shows, maybe do the Power Tour and let people see and enjoy it. It’s such a massive project that it’ll take years to fully complete, but next winter we can tear it back down and make progress in stages.”

Speaking of progress, the Cleveland PaP crew appears to have rolled up their sleeves in the weeks since my visit. The company’s YouTube channel shows the interior removed and the floor completely cut out. The seats are off to the upholstery staff, and if that Cadillac couch was any indication, cossetting accommodations await this Jetway’s occupants. Judging by the rest of Cleveland’s operation, the whole car is in store for a dramatic makeover. For any necessary airport trips next summer, I know just who to call.

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If you want an accurate picture of collector car market activity, it pays to zoom in.

While big-picture data is critical to understanding how outside influences—things like interest rates and consumer confidence—impact the car hobby, the picture they paint can only offer a broad perspective. The reality is that although the market as a whole is trending downward, not all vehicle values are dropping at the same rate, and some aren’t losing value at all.

Parsing sales information into clear segments yields a more nuanced picture. Retreating average sales prices depicted in the chart below do add further evidence to the theme of a cooling broader market, but those different trajectories also contextualize where the losses in value are hitting hardest. There’s some surprising resilience in some corners of the market, too.

Before diving in, a quick note about these groupings: they are very inclusive by design, with dozens of models in most categories. They are among many internal designations (others include price point, nation of origin, and era of construction) that help our analysts sort and filter the mountain of data they review.

Back to the chart. The most stark contrast between segments comes from two that weren’t widely considered collector vehicles till the last decade or so—sport utilities and pickups. While the average sale price of SUVs we track has dropped nearly 15 percent since its peak in April of 2022, pickups have fared far better, losing only three percent, or $900, from the height of their values in January ’22.

Muscle cars, perhaps the most significant staple of the collector market in the U.S., have retreated much more slowly than the newcomer SUVs, and to a far lesser extent—they’re only down 5.5 percent since May 2022. Another mainstay, sports cars, saw their values drop quickly in 2022 but have since recovered slightly to sit 6.8 percent below their peak.

Average prices for the Luxury grouping, which includes a spread of models from ’60s Lincoln Continentals to ’80s Rolls-Royce Silver Spurs, peaked earlier than most in July of 2021. Although average sales for this segment are down 12.5 percent since then, value losses are not accelerating.

Land yachts is an admittedly more specialized characterization than our other segments—our analysts might work with numbers all day, but they do have a sense of humor—and includes Cadillacs and Lincolns from the ’60s and ’70s. Their steady rise precedes the pandemic market boom, and has only recently taken a noticeable downturn.

While there’s no sugarcoating the collector car market’s overall downward cascade, it’s important to remember that prices don’t move in universal lockstep. Of course, this chart’s delineations represent about one click in on the microscope—there are plenty of ways to filter data into more granular fashion. If you’re beginning to think about what belongs in your garage next, understanding these value trends can help make sense of potential emerging opportunities in the market.

***

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The post In a Cooling Collector Car Market, Not All Cars Are Equal appeared first on Hagerty Media.

These are the cream of the crop: the most expensive cars traded at auction. Mercedes-Benz holds the top spot and Ferrari makes up most of the list, but other marques, including those from Italy, Great Britain, and the United States secured places as well. Each listing provides a link to the car’s details, and the sale prices include auction fees.

Last updated: January 23, 2024

1. 1955 Mercedes-Benz 300 SLR Uhlenhaut Coupe

Sale Price: $142,000,000 Auction house: RM Sotheby’s Date sold: 5/5/2022

2. 1962 Ferrari 330 LM/250 GTO

Sale Price: $51,705,000 Auction house: RM Sotheby’s Date sold: 11/13/2023

3. 1962 Ferrari 250 GTO

Sale Price: $48,405,000 Auction house: RM Sotheby’s Date sold: 8/25/2018

4. 1962 Ferrari 250 GTO

Sale Price: $38,115,000 Auction house: Bonhams Date sold: 8/14/2014

5. 1957 Ferrari 335 S

Sale Price: $35,763,848 Auction house: Artcurial Date sold: 2/5/2016

6. 1967 Ferrari 412P Berlinetta

Sale Price: $30,255,000 Auction house: Bonhams Date sold: 8/18/2023

7. 1954 Mercedes-Benz W196

Sale Price: $29,650,095 Auction house: Bonhams Date sold: 7/12/2013

8. 1956 Ferrari 290 MM

Sale Price: $28,050,000 Auction house: RM Sotheby’s Date sold: 12/10/2015

9. 1967 Ferrari 275 GTB/4S

Sale Price: $27,500,000 Auction house: RM Sotheby’s Date sold: 8/15/2013

10. 1964 Ferrari 275 GTB/C

Sale Price: $26,400,000 Auction house: RM Sotheby’s Date sold: 8/15/2014

11. 1956 Aston Martin DBR1

Sale Price: $22,550,000 Auction house: RM Sotheby’s Date sold: 8/18/2017

12. 1956 Ferrari 290 MM

Sale Price: $22,005,000 Auction house: RM Sotheby’s Date sold: 12/8/2018

13. 1955 Ferrari 410 Sport

Sale Price: $22,005,000 Auction house: RM Sotheby’s Date sold: 8/20/2022

14. 1935 Duesenberg Model SSJ

Sale Price: $22,000,000 Auction house: Gooding & Co. Date sold: 8/24/2018

15. 1955 Jaguar D-Type

Sale Price: $21,780,000 Auction house: RM Sotheby’s Date sold: 8/19/2016

16. 1963 Aston Martin DP215

Sale Price: $21,455,000 Auction house: RM Sotheby’s Date sold: 8/24/2018

17. 1995 McLaren F1

Sale Price: $20,465,000 Auction house: Gooding & Co. Date sold: 8/13/2021

18. 1994 Mclaren F1

Sale Price: $19,805,000 Auction house: RM Sotheby’s Date sold: 8/16/2019

19. 1939 Alfa Romeo 8C 2900 B Lungo

Sale Price: $19,800,000 Auction house: RM Sotheby’s Date sold: 8/19/2016

20. 2013 Mercedes-AMG Petronas F1 W04

Sale Price: $18,815,000 Auction house: RM Sotheby’s Date sold: 11/17/2023

21. 1939 Alfa Romeo 8C 2900 B Touring

Sale Price: $18,563,605 Auction house: Artcurial Date sold: 2/5/2019

22. 1961 Ferrari 250 California

Sale Price: $18,405,440 Auction house: Artcurial Date sold: 2/6/2015

23. 1954 Ferrari 375 Plus

Sale Price: $18,309,613 Auction house: Bonhams Date sold: 6/27/2014

24. 1959 Ferrari 250 California

Sale Price: $18,150,000 Auction house: Gooding & Co. Date sold: 8/20/2016

25. 1962 Ferrari 250 California

Sale Price: $18,045,000 Auction house: Gooding & Co. Date sold: 3/3/2023

26. 1959 Ferrari 250 California

Sale Price: $17,990,000 Auction house: RM Sotheby’s Date sold: 12/6/2017

27. 1963 Ferrari 250 GT SWB California Spider

Sale Price: $17,990,000 Auction house: Mecum Date sold: 1/13/2024

28. 1964 Ferrari 250 LM

Sale Price: $17,600,000 Auction house: RM Sotheby’s Date sold: 8/13/2015

29. 1961 Ferrari 250 California

Sale Price: $17,160,000 Auction house: Gooding & Co. Date sold: 3/11/2016

30. 1964 Ferrari 250 LM

Sale Price: $17,120,268 Auction house: Artcurial Date sold: 7/6/2023

The post The Top 30 Most Expensive Cars Ever Sold at Auction appeared first on Hagerty Media.

The Hagerty Market Rating measures the current status of the collector car market in terms of activity or “heat,” directional momentum, and the underlying strength of the market.

The Hagerty Market Rating is expressed as a closed 0-100 number with a corresponding open-ended index (like the DJIA or NASDAQ Composite).

The Hagerty Market Rating is unique because it is the only measure of the overall state of the classic vehicle market that employs a comprehensive algorithm of weighted market/transactional data (including the world’s largest database of private sale transactions), correlated financial market instruments and other market factors.

• Activity or “heat” is represented by variables like rate of change in auction activity (in numbers of transactions); private sales activity; the number of cars offered publicly for sale.
• Directional momentum is represented by multiple valuation trends plotted from auctions, private sales and insured values.
• Market strength (or weakness) is measured by variables such as Hagerty Price Guide values, public auction performance, subjective expert opinions, and other correlated financial market instruments.
• In this market, liquidity is represented by the intersection of number of cars on the market, private sale and auction sale activity.

While theoretically possible, ratings at or near the 0 or 100 poles are not likely to ever be seen. The higher the rating goes in the scale, the more market activity it takes to move the number. The same is true at the lower end of the scale.

Hagerty Market Rating: A How-To Guide

How it Works:

Each individual component of the Hagerty Market Rating is comprised of a number of individual measures, with each measure being scored on a scale of 0-100. Each component’s individual measures are combined into a “weighted average” based on how indicative the measure is of market status, which results in the overall score for each component of the Hagerty Market Rating. Like the rating for the individual components, the overall Hagerty Market Rating is a weighted average of the eight components’ individual scores, with those measures that are more correlative of the market’s status treated with more preference in the algorithm.

Therefore, in order to calculate the overall Hagerty Market Rating, each component’s score must be calculated, which in turn requires that each individual measure’s 0-100 score must first be determined. To do this, we calculate each measure’s current performance against its historic performance. Scores for any measures that are based on dollar amounts are calculated using inflation-adjusted values relative to 2014 dollars. The resulting scores are then combined according to their predetermined relative weights for a final number.

For all measures, components, and the overall Hagerty Market Rating, a “bell curve” type distribution is expected, with 0 falling on the far left, 100 falling on the far right, and 50 landing at the curve’s peak. Because of this, the rating is more fluid in 40-60 range, and much more difficult to move at the rating’s extremes.

Components and Individual Measures:

The Hagerty Market Rating features eight components that reflect different aspects of the market:

Component (ordered by weight)

HPG—Editorialized Values

Since Hagerty Price Guide (HPG) publishes new prices every three months, calculations are based on a book-to-book comparison. Also, since HPG increases coverage on an ongoing basis, growth is only determined by comparing vehicles that exist in both the current and previous books. When reporting the Hagerty Market Rating during a timeframe where the new HPG data isn’t available, the value is projected based on past performance.

• HPG—Average Value: calculated by current value. Overall current average condition #3 price for all published vehicles.
• HPG—Median Value: calculated by current value. Overall current median condition #3 price for all published vehicles.

Auction Activity

Auction activity represents a small percentage of annual sales, but is more transparent than any other market channel. Because of this high degree of transparency, Auction Activity closely monitored:

• Auction—Overall Count of Cars Sold: moving 12-month average
• Auction—Median Price of Cars Sold: moving 12-month window

Expert Sentiment

To account for market factors that cannot be quantified through transactional data, a subjective opinion of the market is provided by a carefully curated list of experts. This panel is comprised of subject matter experts from all categories of collectible vehicles.

• Expert Opinion—Market Survey: an averaged score from the results of a poll of experts on 1-100 level of confidence in the market

Hagerty Price Guide: Indices

Hagerty’s Collector Car Indices were the first stock market-style indices designed to report on movement of the classic car market, and the Hagerty Market Rating accounts for performance among two particular indices. Since Hagerty Price Guide (HPG) publishes new prices every three months, calculations are based on a year-to-year comparison. When reporting a Hagerty Market Rating during a timeframe where new HPG data are not available, the value is projected based on past performance.

• Indices—Hagerty Hundred : current values as set by average condition #2 value for 100 most popular Year/Make/Models insured by Hagerty that are published in Hagerty Price Guide
• Indices—Hagerty Blue Chip: current values as set by average condition #2 value for the 25 component cars of Hagerty’s Blue Chip Index (most collectible production cars of the post-war era)

Private Sales Activity

Hagerty solicits sale data from its clients, which serves as an indication of activity in the private market. Hagerty’s private transaction database is the largest of its kind in the collector car world.

• Private Sales—Average Sales Price: moving 12-month average price of cars sold through private hands
• Private Sales—% of Cars Selling Above Insured Values: moving 12-month average percentage of cars selling for more than for what they were insured

Insured Values: Broad Market

Cars valued $20,000 – $200,000

Insured values in and of themselves do not provide valuable insight about market values due to a variety of factors, but comparing changes in insured values over time as well as the ratio of clients increasing versus decreasing their insured values (and by how much) is a useful indicator of market performance. Insured values most closely align to the FSBO market. This component is a reflection of mainstream market activity and is weighted accordingly. When considering insured values, Hagerty separates collections with many cars (High End activity) from market activity among owners who own one or two cars (Broad Market) to more accurately isolate performance in the market’s mainstream.

• Broad Market—Ratio of Value Increases to Decreases: moving 12-month average of the ratio of the number of cars that increased their insured value to the number that decreased their insured value

Insured Values: High End

Cars valued above $200,000

The size of the collector car market can dually be defined by the aggregate value and the aggregate number of cars; dividing the insured values segment into high-end collections and broad-market levels allows us to minimize the disproportionate sway high-value cars might exert on these numbers.

• High End—Ratio of Value Increases to Decreases: moving 12-month average of the ratio of the number of cars that increased their insured value to the number that decreased their insured value

Correlated Instruments

While no reliable and direct causation tying the performance of one economic instrument to the performance of classic cars has been established, broader economic factors are certainly correlated to some sectors of the collector car market. Values in the Correlated Instruments component are taken at the first of the month every month, and actual growth is determined month over month. Due to a loose relationship between these instruments and the collector car market, Correlated Instruments are weighted low.

• Correlated—current value of S&P 500
• Correlated—current median US home price index value as reported by Federal Housing Finance Agency.
• Correlated—current spot price of Gold per ounce (USD)
• Correlated—current value of Retail Sales less Food Services Sales (USD)

The post How the Hagerty Market Rating Works appeared first on Hagerty Media.

Though we tend to skew toward the data-driven here at Insider, regular input from industry professionals helps inform and give context to the trends we observe. At the beginning of 2023, those who we interviewed noted a return to normalcy and movement away from the less rational, superheated market behavior that marked much of 2021 and 2022. As this year has unfolded, those first steps toward a cooling market have coalesced into some clearer themes. Heading into 2024, here’s what our panel of professionals had to say.

A decelerating but stable market 

From broad, overarching perspectives to a tight focus on prices to consideration for what’s selling, our discussions present sober takes on a market that is stable but retreating.

“Things are a lot softer than they were, but the bottom is not falling out as some people are saying,” notes Derek Tam-Scott, co-founder of OTS, a collector car dealer in Berkeley, California. “The last cars to go up explosively have generally been the first to come down—we’ve seen that with younger cars and classics that haven’t yet fully established themselves. Prices for blue-chip cars, on the other hand, are moving more slowly.”

For Ken Ahn, president of Hagerty Marketplace, changes in the rate of growth for numerous metrics are front-of-mind as he considers the state of the market. “I would characterize the overall collector car market as ‘cautious’ as we sit here at the end of 2023. I say cautious because for the first time in the last few years, we have seen a slowdown in the growth of overall auctions (both live and online), with the growth of average transaction values decelerating and sell-through rates declining. Those have, however, been offset by the increased number of cars offered.”

To better understand the newer end of the collector market, we reached out to Harald de Bruijn, who runs Fourwheel Trader, a YouTube channel that specializes in depreciation analysis of sports and supercars that range from new to about 20 years old. He’s laser-focused on evolving prices, and has noticed a split similar to what Tam-Scott mentioned. “When we saw the prices top [in 2022], we also observed that there started to be a divergence in the market. Some cars topped and may have declined a little bit, but their prices remained more or less stable. We saw other cars, many of which were newer, for which prices really started to come down.” In 2023, that drop began to settle somewhat: “We started to see a flattening of the depreciation rates—not completely flat trends—but a return to more normal rates.” He notes that for the cars he tracks, this depreciation rate is now generally in the range of seven to nine percent a year. “That happened quicker than I expected,” he added.

At DriverSource, a collector car dealer in Houston Texas, sales manager Jose Romero reports that “the market has corrected, but it’s hard to assign just how much. Porsche 911s, certain BMWs, certain Ferraris from the ’50s and ’60s all have a smaller audience now, and they take a little longer to sell. But overall, the market is healthy,” he said, adding that he had just sold a Ferrari Dino for a dramatic price.

Spencer Trenery, owner of Fantasy Junction, a collector car dealer in Emeryville, California, adds that trends are not necessarily consistent across segments. For instance, while many sports cars from the ’50s, ’60s, and ’70s have lost value, others are bucking that tide. “275 GTB and GTS Berlinetta Ferraris continue to have upward price adjustments since the beginning of COVID—those cars have advanced quite a bit,” he says.

Stratification

During the last year, the gap between the truly special and cars merely in excellent condition has widened. “Buyers have become more selective, leading to a broader stratification in the market based on quality and provenance,” says Trenery. “More common cars are struggling.”

Romero agrees. “A great car, one with a solid history and unique specification, no miles, and either fully restored or totally original, has only increased in value,” he says. “Take the same car, but in average condition or an average color, or maybe it’s been at three or four auctions in the last ten years, and it’s worth dramatically less.” He also observed that run-of-the-mill cars can take longer to sell, and are more likely to require a price break to move off the showroom floor.

An ongoing evolution in what’s hot

Ascendant ’80s through 2000s supercars feature prominently in our discussions. “We’ve seen early Mercedes AMG, Lamborghini Diablos and Countaches, and Ferraris from the ’80s and ’90s all become the flavors of the month,” says Romero. “That’s what people are craving—as well as Porsches from the 2000s, and anything considered analog. On the other hand, cars that aren’t as user-friendly, like those from the ’50s and ’60s, have suffered.”

User-friendliness is also a common theme, and one that Trenery highlighted in a prominent relative newcomer segment among cars he sells: “We previously sold sports cars and European cars almost exclusively, but American restomods have quickly earned a place. These cars don’t rely on their historic background [for their value] and are returning a higher percentage of the cost to build them,” he says. “People don’t want to drive a drum brake, four-speed car anymore. These cars look like what buyers remember, but have air conditioning, later-model seats, and a reliable crate engine—all things the buying population puts a lot of value on.”

Certain cars in particular are forging their own paths. Tam-Scott and Trenery both picked out the declining values of the Jaguar E-Type as a bit of a head-scratcher, especially in context of some of its contemporaries. “I would chalk this up to generational shift, but Gullwings are strong and E-Types are not,” says Tam-Scott.

Substitution models—cars that saw a significant rise in popularity, and corresponding bump in value due at least in part to other, more desirable models getting out of reach—remain a popular choice. De Bruijn has noted that some cars, like the 996-generation Porsche 911, saw values go up significantly in 2021, and have only receded slightly since then. Trenery similarly points out 996- and 997-generation 911s, along with the Ferrari 308 GT4 as another model that’s quietly crept into collector status.

The impact of expensive money

“Increased rates haven’t been an issue since most clients are cash buyers,”says Tam-Scott, “but more costly financing has had some impact on online auctions, and it’s driven speculation from the market.” This sentiment was shared by the others—though interest rates increased 11 times over the course of 2022 and 2023, very few buyers of $100k-up cars look to banks for financing. As a result, it’s the less expensive cars, and perhaps most interestingly, the top of the market that are most effected.

“For me, the biggest surprise, which makes sense in hindsight,” says Ahn, “compared to prior cycles, was how much the high end of the market softened compared to the sub-$250K segment during the second half of 2023. We were trying to sell an $8M car over the summer to a client, who ultimately decided not to pursue. His rationale was that he could put the $8M to work in money market or short-term treasuries and earn $400K in annual interest, with the principal backed by the U.S. government. It’s hard to argue with that rationale, especially if rates remain high.”

Changing demographics are showing up in transaction behavior

Though generational change in the collector market has been a hot topic for a while, 2023 offered evidence that this shift is beginning to snowball. “We sold 185 cars this year,” says Romero, “and of those, 112 were to new clients. Their average age was 52—much younger than in the past.” Trenery shares that in his experience, baby boomers, while still very active in the market, were more likely to be on the seller side of the equation.

These anecdotes feed into evolving buying and selling trends. Those interviewed affirm that online consignments have offered a healthy amount of throughput. Says Trenery: “We’ve had more first-time clients under 50 years old this year, and they’ve primarily come through our auctions on Bring a Trailer and online transaction forums. They’re typically professionals who don’t desire to travel to buy a car. The model of purchase that appeals to them is one where they can absorb information online over the course of the auction, then block out an hour where the auction is closing to complete the transaction. It’s less personal than it once was.”

Romero rounds out the other side of the same coin: with buyer preferences that are increasingly remote and visual, it’s often easier to consign a car than for sellers to do it on their own. “They could do it themselves, but in the current market, you need a strong social media presence, 300 photos, and videos, so they look to folks like us who have an established reputation to get the best value.”

Maturing competition between marketplaces

The meteoric growth of online auctions has often prompted questions about the degree to which they are a threat to in-person auctions. Ahn, who oversees Broad Arrow Group’s live auctions as well as Hagerty Marketplace’s online listings, shares that as their coexistence has matured and stabilized, the two have begun to carve out clear identities.

“Both are growing and both matter,” says Ahn. “We’re seeing that more lower price-point, less unique/desirable cars are increasingly finding their way to online auctions, while on average, higher-valued cars are making their way to live auctions. That makes sense not only from a unit economics standpoint, but also when you think about the business model. For example, on the Monterey Peninsula in August, you’ll probably have the world’s greatest concentration of potential buyers of the Ferrari F50 and 250 TdF, Talbot Lago, and Duesenberg within a 15 mile radius over five days. An online auction platform would have hundreds of thousands if not millions of audience, but not the concentration of buyers. In contrast, if you have a 65K-mile, mechanically sound, beautifully-detailed BMW E39 M5 like I have, it will likely not make it onto a catalogue for a live auction in Monterey, but it will surely draw dozens of bidders online.”

Ahn also notes increased collector car supply at auctions, something that Romero has also observed, particularly when watching online sales. “Over the last six months the online market became a lot more saturated,” says Romero. “Online listings are a third higher if not more in total quantity, and the amount of auction watchers has shrunk, in my observation.” Ultimately, this has contributed to downward price influences on more common cars.

Going forward

When it came to looking forward to 2024, our discussions veer toward reminders of the market’s cyclical nature, and the opportunity that exists in a collector world that’s in a very different part of the cycle from 18 months ago.

De Bruijn reminds us that precision is critical: “It’s important to not think of the market as a homogeneous group,” he says. “Different segments in the market have different price trends. Stating that the market is crashing almost never holds unless there’s a big, broader economic crisis.” He’s somewhat optimistic about the future of newer collector cars in the U.S. market, as well: “Based on the data, the biggest drop is behind us. Of course, I cannot look into the future, but price decreases are not accelerating.”

Beyond the numbers, Tam-Scott is mindful of how times like these can facilitate fresh experiences for enthusiasts. “A hot market makes accessibility difficult,” he says. “A flat market enables buyers move more freely between cars—you won’t necessarily get priced out of a quickly-appreciating car. The hobby part of it returns.”

Ahn agrees. “An exceptionally hot market can be worrisome—it rewards more irrational behaviors, more people believe they are astute investors in cars, and some borrow to get cars that are no longer attainable—all things that could lead to a drastic turn,” he says. “A flattening market can bring more rationality. Remember, it’s a highly cyclical industry. Each year, more new cars are added to the ‘collector’ segment than are destroyed, and more collectors appear to be entering the hobby. When I think about the long-term future of the hobby and the industry, I am very optimistic.”

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The post Industry pros discuss the state of the 2023 collector market appeared first on Hagerty Media.

I watch the rev counter climb on that big, sweeping Jaeger gauge as I head up a steep coastal California grade with my right foot pinning the accelerator. It’s there, threading through the narrow canyons at full song, that the joy of Alfa’s GTV comes into focus.

The little Alfa’s performance limits can be approached on a twisty backroad without crossing into the realm of the wildly illegal; it is quick, but not fast. Many a vintage Porsche 911 driver have found themselves hard-pressed to keep a well-driven GTV at bay. This car rewards the craft—a driver who can maintain momentum, double-clutch, and heel-toe will step from the GTV after twenty minutes behind the wheel feeling as though they accomplished something special. The GTV embodies the essence of driver-focused European GT cars of the 1960s and offers a delightful driving experience that compares as favorably to its peers today as it did back then.

Alfa Romeo introduced their 105-series Coupe, the Giulia Sprint GT, in 1963. The crisp Bertone lines, styled by Giorgetto Giugiaro, were considerably more modern than the outgoing 101-series Giulietta/Giulia Sprint Coupe, which was decidedly a 1950s car in its cosmetics. The early “stepnose” Giulia Sprint GT models, distinguished by a hood that is placed slightly higher than the nose of the car, stood out as clean and characterful, with a hint of sporty assertiveness. A twin-Weber carbureted version of Alfa’s 1600-cc twin-cam lived under the hood, offering the characteristic high-revving performance Alfa Romeo had become known for. A convertible version, the GTC, was offered in 1965–1966, with only around 1000 examples built.

1966 brought a raft of model improvements, leading to the revised designation of Giulia Sprint GT Veloce, which is the origin of the “GTV” moniker. These cars still featured the early stepnose bodywork, alongside minor changes to trim and a revised 1600-cc engine, and would be produced until 1968.

The 1750 GT Veloce, a big step in the 105’s evolution, was introduced in 1967. The familiar design evolved slightly, the most notable changes being the retirement of the stepnose hood and the addition of a new interior. Significant changes were also made to the chassis, suspension, and brakes. In addition, the engine capacity increased to 1779 cc, and U.S. versions became the first Alfas to be fitted with SPICA fuel injection. The same engine was used in the 1750 Berlina and the 1750 Spider, offering convenient economies of scale for the Italian manufacturer.

Of the 1750 models, 1969 model-year cars are particularly prized, as they feature the one-year-only “flying buttress” seats, which are sought out for their style and comfort (though they are costly and complicated to reupholster). Other prized early GTV features include their smaller taillights and a full complement of Jaeger instruments that would feel right at home in a car costing ten times as much.

The final iteration of the GTV series would be introduced in 1971 and would be known as the 2000 GTV, a nod to the increased displacement of the SPICA-injected 1,962-cc engine, which shared the same basic architecture as previous Alfa Romeo twin-cam models. The 2000 GTVs are identified by several visual updates not seen on earlier cars, including the larger rear taillights (which had actually been introduced on the last 1750s), horizontal grille slats, and a completely revised interior featuring a new seat design and modernized dash architecture. The last GTVs sold in America were 1974 model-year vehicles, though 2000 GTVs were produced for other markets into 1976.

Adding another layer of complication to the various mix-and-match iterations of GTVs, “Junior” models with smaller displacement engines were also available, though these were never sold in the United States. Juniors retained the same chassis and basic architecture of their larger-displacement cousins but were offered initially with 1300-cc engines carried over from the Giulietta series, with a few improvements. With the introduction of the 2000 GTV in 1971, a 1600 Junior model was offered alongside the 1300 Junior. Early Juniors are harder to distinguish from their Giulia Sprint GT brethren but have a few telltale design features, such as a single horizontal grille bar and a two-spoke steering wheel. The 1970 and later Juniors are readily identifiable as they feature only two front headlights as opposed to the four-headlight GTV design.

This author somewhat prefers the driving experience of the 1300-cc carbureted Junior models—as a wise man once said, “there is nothing more fun than driving a slow car fast,” and wringing out the smaller engine is every bit as fun. From a budget standpoint, Juniors trade at a considerable discount to GTVs, though the price discrepancy should not be mistaken as an indicator of an inferior driving experience.

The 105-series platform also lent itself to other, more bespoke applications, including the homologated lightweight GTA racing versions, as well as the quirky, wedge-shaped Junior Zagato, built in small quantities in both 1300-cc and 1600-cc form.

In period, GTAs were stars in European touring car racing, while both GTAs and GTVs did battle in the United States, most notably in the SCCA Trans-Am’s Under 2.5 Liter class. Racing against competition that included Peter Brock’s BRE Datsun 510s, as well as a raft of BMW 2002s and various lesser-known Trans-Am cars (Ford Pintos, Toyota Corollas, Volvos, and Opels all raced in the series, too), the 105-series Alfas held their own, usually at or near the front of the pack. In fact, in the championship-deciding 1971 Trans-Am race at Laguna Seca, Horst Kwech’s Alfa GTV actually beat John Morton’s BRE Datsun 510 on the track, only to be later disqualified for a rule infraction.

Considering the number of variations on the 105-series chassis, market prices cover a broad range. Most stepnose Giulia GT and GTV models fall in roughly the $45,000–60,000 range for good, drivable, non-rusty examples, with #2 (Excellent) condition cars fetching in the region of $100,000 or more. Of course, tatty “drivers” can be had for less—a reasonable-looking but somewhat tired 2000 GTV in Canada recently sold for just $18,750 on Bring A Trailer. The rare GTC convertible stepnose models can be found in the $70–$100k range, but rarely come to market. Prices for top GTVs have separated from the pack, while solid drivers are slightly above their pre-pandemic levels. Juniors have benefitted from more attention lately but remain on the affordable side of the Alfa spectrum.

Gen X, the oldest members of which may have seen these cars as kids, makes up 57 percent of policy quotes for the GTV and GT Junior, up three points from 2021. That makes the GTV’s demographics just slightly younger than Alfa demographics as a whole.

Rust can be a concern on these cars, as with most 1960s and 1970s Italian classics. Be wary of particularly rusty cars; the GTV employs a unibody design, so a significantly rusty car may not be a good starting point as a “keeper.”

While any well-sorted GTV is a joy to own and drive, two models stand out as offering particularly good value. The 1300-cc Junior models are probably the least desirable variants from a market perspective since the market seems to think there is no replacement for displacement. I actually believe these are some of the best-driving 105-series cars, as the 1300-cc powerplant is more rev-happy than the more prized 1600-, 1750-, and 2000-cc versions. These 1300 GT Juniors represent great value from the standpoint of those who want to put their Alfa to use.

The coachbuilt Junior Zagato models are perhaps the most interesting, despite their polarizing wedge design; for around the same price as a decent GTV 1750 or 2000, you can acquire a limited production, Zagato-bodied Alfa Romeo. These lightweight Zagato versions can really fly in the right hands and are perhaps one of the great “sleepers” in the market of 1960s/1970s European collector cars.

Ultimately, the Alfa GTV’s greatness lies in its elegant simplicity. Excellent road manners, handsome Italian good looks, robust mechanicals, and enough room inside for two passengers and a couple of suitcases all add up to a well-balanced, functional collector platform that’s hard to beat.

Whatever flavor you choose, Alfa’s GTV is a perennial classic. Get yourself a well-sorted one, and every mile will be a joy.

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You might think this one comes way out of left field. The only good reason to think that is because, well, it does. It’s a controversial pick and I’m pretty sure it won’t be a popular one, but the twisted $1.875M hunk of Ferrari absolutely is my choice for Sale of the Year, 2023 edition. But I’m not choosing it just to be different. I genuinely think it was a great buy.

The car, which at one time was a Ferrari 500 Mondial, put a smile on my face when I first read about it. An even bigger smile appeared when I first saw it in person. But the idea of actually buying and restoring it? It sounds both stupid and savvy, impossible and life-affirming, wrong on every level yet just so right. It’s a moonshot, but also one with all the roadmaps firmly in place. It’s a picture of destruction, but also that of a path to redemption. It’s like an O. Henry story, a Dickens story, and a Hemingway story all wrapped up in an old Italian race car.

To be specific, it’s a 1954 Ferrari 500 Mondial Series I by Pinin Farina, serial number 0406 MD. It crashed heavily sometime in the early 1960s, and it sold out of the “Lost and Found” collection at RM Sotheby’s Monterey auction this August for $1,875,000.

First, a little bit about this “Lost and Found” collection, which belonged to Florida real estate developer Walter Medlin. In 2004, Hurricane Charley gave the Sunshine State a Category 4-sized smack, and among the casualties was the barn housing Medlin’s 20 Ferraris (including the Mondial). The structure collapsed, raining debris down on the cars. Later relocated to Indiana and stored for another decade, the cars were finally brought out for sale in Monterey.

The sort of living diorama, set up by the RM staff to display the cars outside the Portola Hotel in downtown Monterey, certainly played to a “Lost and Found” theme. It gave off vibes of a desert island, a long-forgotten post in the outback, or an abandoned junkyard in a remote clearing. Placed as far away from the main viewing area as was possible, it nevertheless served as a celebration of the rundown and wrecked nature of what was on offer. In the Mondial’s case, however, it wasn’t so much wrecked as it was utterly demolished.

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Across the internet car world, memes abound depicting sellers who “know what they’ve got,” imploring any interested parties not to make low-ball offers. Of course, this is regardless of whether their vehicle is exceptional, or whether the asking price has any bearing in reality.

There’s more than a kernel of truth behind these jokes—we’ve all seen those ads, and during the boom, several consignors I interviewed stated that many sellers were insistent on setting very ambitious and sometimes overly ambitious asking prices. The tactic paid off for many, but one bit of data—the sell-through rate (STR)—shows how buyers have been slowly influencing reduced asking prices as far back as the beginning of 2022.

Sell-through rate is exactly what it sounds like: the percentage of lots that transact successfully in a given auction or time period. Hagerty analysts include both reserve (auctions that have a minimum bid threshold for the car to sell) and no-reserve auctions when tallying up this data, as doing so paints a more complete picture of public auction activity.

What does sell-through rate tell us? Take a look at the chart below. During the market’s ascendancy, buyers were eager to get in the game and willing to meet or exceed the reserve prices set by sellers. This meant more cars found new homes, driving up the sell-through rate. When buyers eagerly pay what sellers are asking, sellers are naturally emboldened to keep pushing prices upward.

That can’t last forever, though, and the 84 percent sell-through rate in the first two months of 2022 would prove to be the highest percentage for combined online and in-person auctions in the last eight years. It was at that point that buyer behavior began slowly exerting a downward influence on prices.

When the buyers’ analysis of a vehicle’s value is less than the expectation of the seller, cars go unsold, reducing the sell-through rate. We see this in the data—the STR dropped quickly through 2022, and though its rate of decline slowed somewhat over this year, it remains on an overall downward trajectory.

The effect of this dissonance between buyer and seller may be immediate for someone who fails to sell a car at their desired price, but the impact on the market is delayed. Sellers take time to reset their analysis of their car’s market value because they rely on backward-looking data and may be hopeful that their car can still fetch an ambitious price. Buyers, on the other hand, look forward to what might happen to the market and are far less willing to move upwards to a seller’s reserve when they know they can go elsewhere or wait for a deal.

When we observe a return to relative stability in the sell-through rate (like the slow movement shown on the graph from 2016 through 2019), we’ll know that the days of exuberant pricing are fully behind us. Till then, the buyers are truly the ones who know what the sellers have.

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We often use the Sale of the Week to showcase big sales or disappointing misses—it’s not often that we share transactions that fell just about where they’re supposed to. In this case, however, the sale of a low-mileage 2001 BMW Z8 on Bring a Trailer for $280,000 including fees—almost exactly on its $275k #1 (Concours) condition value—helps articulate where the collector market finds itself as 2023 draws to a close.

Last week, we shared how some record Porsche sales were (mostly) rationally explained by their museum-quality condition and mile-long options lists. This week, analyst James Hewitt’s data dive highlighted a 16-month trend of public auction resales showing a reversion toward a buyer’s market. Ever more regularly, signs of buyer restraint complement enthusiasm for the right car. This Z8’s sale is a prime example.

Restraint and enthusiasm could also describe the circumstances from which the Z8 emerged. Retro styling enjoyed its moment in the late ’90s and early aughts, but where other nostalgic designs bordered on the kitsch, chief designer Henrik Fisker managed pay tribute to BMW’s classic 507 from the 1950s while still keeping the Z8 thoroughly clean and modern. Debuting in the James Bond film The World is Not Enough in 1999, the Z8 caused quite the stir, and people couldn’t wait to see the car in the flesh.

Motivated by the same 4.9-liter V-8 and six-speed manual as its M5 sibling, the Z8 provided speed and soundtrack to go with its handsome traditional roadster proportions. The aluminum monocoque chassis, engine behind the centerline of the front wheels, and 50:50 weight distribution enabled the Z8 to lay down solid sports car performance while still being a capable tourer.

Unfortunately, the Z8’s $128k starting sticker put a damper on sales, and production didn’t last long. Though not as dramatic, it found a fate similar to its 507 predecessor. As we’ve highlighted in the past, though, rarity due to a lack of sales can sometimes be a boon as a car ages into classic status.

Showing just 4900 miles and in excellent condition with the exception of some scratches on the hardtop and front fascia, this Z8 isn’t just-out-of-the-wrapper fresh, but it is close. Rewind the clock just a bit, and low-mileage Z8s in this shape were a lock for north of $300,000, and sometimes significantly more.

Times have changed rather abruptly for the Z8, though—its #1 condition value tapered from $321,000 in July of 2022 to $275,000 today. While the market is in fact cooling and many cars are seeing their values recede, the Z8’s trajectory happens to track the overall market more closely than most.

With that said, it doesn’t mean interest in the model has waned. Multiple bidders competed through the auction’s closing hours and the sale yielded a healthy result in today’s market, albeit one that is well short of what it might have achieved in the summer of 2022. People are still willing to pay top dollar, though the top just isn’t as high as it once was.

Ultimately, this Z8 sale projects rationality from both parties. Bring a Trailer expressed confidence in the car by selling it with no reserve, and buyers were willing to value it in line with the current top of the market. If this is where the market is headed, that’s not the worst thing.

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By most accounts, the term “Malaise Era” was coined by journalist Murilee Martin. Taken from Jimmy Carter’s famous speech, it reflects the pervasive funk that the U.S. found itself in post-Vietnam, though Martin and fellow car enthusiasts tend to further focus it as the term to define a decade’s worth of lackluster autos. The period was marked by rampant inflation and a frustratingly stagnant economy. Everything from American exceptionalism to oil, and even natural fibers, seemed to be on the way out, replaced with polyester leisure suits, disco, and well, seemingly not much else. Most importantly, horsepower took a lengthy holiday as fuel prices and insurance rates went up while speed limits went down.

We’re about to mark a truly happy milestone, however: By my count, 2024 marks the 40^th anniversary of the end of this much-maligned era. Four decades on from 1984, maybe, just maybe the cars that helped us get back to horsepower and driving enjoyment can find a more appreciative audience, and we can take a more charitable view of the re-emergence of the American performance car. On the other hand, maybe it’s still too soon.

The onset of the Malaise Era came with shocking speed. In 1972, big blocks were as easy to find as Triceratops in the late Cretaceous period. Just two model years later, they had nearly disappeared. The twin asteroid-like impacts of the 1973 oil embargo and the recession that it triggered quickly made the American performance scene look like a post-apocalyptic wasteland. By the 1974 model year, things looked bleak indeed. Horsepower was down dramatically and rising curb weights from things like mandated diving board five-mph impact bumpers helped further blunt performance. By 1978, things had gotten so bad that the fastest American car was actually a truck. The Dodge Lil’ Red Express pickup was one of the few vehicles you could buy that was capable of a sub-seven second 0–60 time.

The degradations that the era spawned have been well-documented—from the Mustang II to the 305-cubic inch “California” Corvette, and the Iron Duke Camaro. All of these were fodder for the “Rust in Peace” series I did for The New York Times in the early 2000s. Even the once-feared Pontiac Trans Am, one of the few large-displacement cars to survive the big block mass-extinction, was only able to extract a pitiful 200 hp from its massive 455 cubic inches in 1975, mimicking the output of a cheap, loud, “as seen on TV” juicer. If you had the distinct displeasure of living through it, the Malaise Era seemed to last as long as the most recent ice age. Bright spots were few and far between, and often, they weren’t American—the Porsche 930 and the Mercedes-Benz 450SEL 6.9 were fast but crazy expensive, and unless you lived in New York or L.A., you likely never saw one.

Help eventually arrived—fuel injection, three-way catalysts with oxygen sensors, multi-valve cylinder heads, turbochargers, and finally variable valve timing, all did their part to make horsepower a thing again. The Buick Regal Sport Coupe/T-Type brought turbocharging to American showrooms around the same time that the Saab 900 SPG Turbo started making its reputation as a seriously quick car. By 1984 the turbocharged, V-6-powered Regal Grand National was making 200 hp and an astounding 300 lb-ft of torque, figures that had rarely been seen since the early ’70s. (It’s important to remember, too, that 200 hp in 1984 SAE net was probably closer to 250 hp in pre-Malaise SAE gross measurement.)

By 1984, America’s premier pony cars were becoming de-zombified as well. The Z/28 Camaro of that year made 190 hp, and the 5.0-liter Mustang 175 hp. By the next model year, both had cracked the 200 hp mark. 1984 also introduced the fourth-generation Corvette, a dramatic upheaval from the early ’60s roots of the prior generation. The Malaise era was definitively over, although its last vestige, the reviled 55 mph national speed limit, hung on until it was modified in 1987 and then fully repealed in 1995.

Malaise Era cars have certainly found collectability over the last 10 to 15 years—Urethane-nose, late ’70s/early ’80s second-generation Camaro Z/28s, and Bandit Trans Ams, (so-called “mustache muscle”), certainly have their fans, but then oddly enough, so do the Charlie’s Angels-era Mustang II Cobras. These, however, are mainly novelty/irony/nostalgia buys. I suspect few people are likely to care about them after the generation that came of age during the Smokey and the Bandit and Fast Times at Ridgemont High days passes from the scene.

It’s the cars that brought an end to the era, the turbocharged Regals, IROC-Zs, and post-1983 Fox-body Mustangs, that we should be building bronze statues to, or at the very least, collecting with more gusto. They truly saved driving and ensured that horsepower didn’t become just another quaint unit of measurement (like pennyweights or Macedonian cubits), understood and remembered only by our grandparents and great-grandparents.

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We’ve been tracking the collector car market’s retreat with a keen eye over the last 18 months. After an almost unceasing march upward, its gradual return to rationality is a welcome sight for most. Except those who bought collector vehicles in the last two years with an eye toward reselling, that is.

Senior information analyst James Hewitt tracks a massive amount of data each month. One set from November, resales at public auction, caught his eye: a full 68 percent of cars—51 out of 75—bought at public auction in 2022 and then sold in November 2023 had negative returns. The average return for this group is -6 percent, while the median is -10 percent. That’s a precipitous drop from the beginning of 2022, when the average return for vehicles held for 24 months or less was 36 percent.

To put these stats into metal and rubber, take the ’57 Ford Thunderbird featured at the top of this piece. Purchased in January of 2022 at Mecum Kissimmee for $40,700, it sold for half that—$20,300—at Mecum Las Vegas last month.

This data isn’t isolated to particular segments, either. This 2017 Aston Martin DB11 Launch Edition was purchased at Mecum Kissimmee in January, 2022 for $181,500 and sold last month for $98k on Bring a Trailer.

This has broader meaning than merely articulating the hurt put on folks who sold after a short period of ownership, however. These data demonstrate the collector market’s rather quick transition from a seller’s market to one where buyers hold sway. That’s bolstered by the fact that the share of no-reserve auctions is at its highest since 2019. The frenzy is fully gone—more than a year ago, buyers began to sense a deal could be had if they were willing to be patient, and that may well have become the current prevailing market sentiment.

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There is exhaustive back and forth involved deciding exactly which vehicles make the Bull Market List. After that, and after we’ve experienced each enough to capture the moment in words and images, and after we commit our data for each to produce detailed charts putting them in context alongside past selections, we pause for a moment. Then, our roster of car lovers and data analysts step back and look for meaningful, big-picture takeaways. Here are 4 insights we gleaned from examining our 2024 Bull Market selections as a whole.

Try this instead of that

The practice of substitution—a similar experience for less money—has long played a role in the collector car world. It’s especially strong during and just after a hot market where everyone’s favorite rides have increased dramatically in value. Perhaps unsurprisingly, substitution is a factor for nearly half the vehicles on this list.

While at first blush it might seem silly to call the Lamborghini Countach 25th Anniversary edition a substitution choice, the earlier, less adorned models have long been more expensive. Jag’s XKR tickles the British grand touring fancy nearly as well as (some would say better than) an Aston Martin DB7 Vantage. Looking for ’60s high-brow cruising? the Ford Thunderbird scratches a similar itch to a Lincoln Continental from the same era. As is common among BMW M cars, once one generation begins to take off, the next one is often poised to perform similarly. The BMW E9X M3 is on deck.

Drop it like it’s hot

Even though convertibles are disappearing from the new car market (in large part because cars are themselves disappearing as SUVs take hold), they haven’t been forgotten by enthusiasts. Long a collector car staple, convertibles are typically, with few exceptions, more valuable than their tin-topped siblings. Half the vehicles in the Bull Market List have tops that come down—and we have an inkling that this body style may become even more prized as new options fall away.

Too much Enough of a good thing

More is often better, at least as far as cylinders are concerned in the eyes of collectors. Eight of our picks had at least eight cylinders available in their strongest offered engines. Call it part of the character factor, but this Bull Market and the data that supports it suggests that vehicles with eight, 10, or 12 cylinders will likely be increasingly collectible.

The Bull Market can often be seen as a microcosm for the collector market, and in this case, that applies. We only add vehicles to the Hagerty Price Guide if they meet data points that confirm their collectibility, and among the younger vehicles from the 2010s that have made it into the Price Guide, 59% of those have at least eight cylinders. That only trails the shares of vehicles from the 1960s and 1970s (65 and 68%, respectively).

Maturing later in life

Taking a chance can cut both ways. A couple of our picks weren’t popular when new, but rarity tends to help collectibility, and tastes can change, making for a collector vehicle poised to make strides in value. Two examples from opposite ends of the enthusiast spectrum illustrate this well.

Ferrari’s FF didn’t sell in large numbers when new. Sacrilege surrounded it—all-wheel drive, no manual, and what on earth was going on with the design out back? Well, the world has eased its stance somewhat on these transgressions, and when you combine that with the fact that the FF is now rarer than many contemporary Ferrari models, you have the potential for a rising classic.

There’s not a lot in common between a Ferrari and a Jeep, but we noticed an area of overlap between how the FF and Jeep’s CJ-8 are now perceived vs. the initial response they got in the market. When the CJ-8 was introduced in 1981, people didn’t quite know what to do with it. The extended chassis variation of the CJ-7 was bigger than what people had come to recognize the venerable off-roader to be, but it wasn’t quite in the same league as more established SUVs from the period. As a result, though AMC churned our several hundred thousand CJ-7s during its production run, the CJ-8 couldn’t muster 30,000 units. Now, Jeep enthusiasts have warmed to the additional utility a longer wheelbase affords, and its comparative rarity may help the CJ-8 on its trajectory as a collectible.

If the vehicles on this year’s list seem surprising, check out our past performance scorecards to see how our analysis stacked up for past selections.

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Porschephiles tend to have a near-encyclopedic knowledge of the colors their favorite models came in, and that’s no small feat given the range of hues the company has offered over the years. Onlookers of  “the White Collection,” a Porsche-centric sale hosted last week by RM Sotheby’s, had things a little bit easier—of the 56 Porsches crossing the block, only two were something other than a shade of, you guessed it, white. Despite the more limited palette, however, the sale of these Porsches offered plenty of variety, and some market lessons to boot.

While we typically focus on a single vehicle in our Sale of the Week, this round features a few cars from this auction in order to shed a little light on the current market for newer Porsches. In an overall market that’s been cooling for more than a year, the fact that Porsche’s recent GT products still command a significant premium or dealer markup demonstrates how resilient they’ve been in the face of market forces. Other exclusive models from Stuttgart have displayed similar strength.

Record transaction prices from the White Collection sale would appear to back that up, but the big numbers aren’t simply indicative of a segment of the market continuing a nonsensical post-pandemic frenzy. Digging a little deeper reveals something about what buyers are prioritizing within the P-car world.

For instance, this paint-to-sample Grand Prix White 2019 911 GT2 RS Weissach with a scant 15 miles on the odometer sold for a record $1,006,000 including fees. More than $344,000 worth of options led an MSRP of $639,345 when new (a full 116 percent above its $295,345 base price). However, its sale at the White Collection represented 110 percent of the condition-appropriate price ($478,199) for a base GT2 RS Weissach without those add-ons. That suggests that the options are the primary price driver, and though the number itself is dramatically more than what other GT2 RS Weissachs have sold for, this is a consistent sale that doesn’t reposition the GT2 market.

A 2016 911 R—a darling of collectors since its debut— commanded a premium rooted less specifically in its option list. Selling for another record at $1,105,000 including fees, it wore add-ons that bumped its original MSRP 48 percent, but it sold for 81 percent more than #1- (Concours) condition value. With less than twenty miles on the odometer and everything from detailed order correspondence to its pre-delivery coverings, it’s not too surprising that this museum-grade 911 R came at an additional premium.

Even further on the spectrum, RM Sotheby’s snagged a record-breaking $3,937,500 for this 2015 918 Weissach Spyder. Wearing the same paint-to-sample Grand Prix White and Yachting Blue interior colors as the above GT2 RS, this 918 is yet another museum piece and includes a wealth of collector accessories. Whether or not its new owner fits into the included racing suit, shoes, and helmet is beside the point—this car’s value is no longer associated with its enormous capabilities at the track. Despite options that added a comparatively paltry ten percent to the original MSRP, it sold for 75 percent above its #1-condition value. With such a pristine example of one of Porsche’s best-ever road cars, it’s no surprise that options played a less significant role in its sale price.

According to manager of valuation analytics John Wiley, for The White Collection’s sales of 997 and 991 GT cars, 911 R, 911 Turbo S Exclusive, and the 918 Spyder, the average share of options as a percentage of the base price explains 78 percent of the premiums these cars achieved. What does that mean? A couple of things: first, decked-out cars tend to hold their value well in the Porsche community. Second, options don’t explain the whole story for each car, and low mileage, unique appointments, and outright intangibles still propel GT and high-end Porsches to a premium.

Despite that, we are beginning to observe a slight tightening in the GT market. By no means have premiums gone away, but they have generally been flat or trended down this year, with the exception of those for the 991 GT2 RS and the 2023 GT3 RS. Don’t get your hopes up for a comparative bargain anytime soon, though—the 2019 GT3 RS still commands a premium north of 30 percent, and that’s the lowest of the group.

The White Collection’s dramatic numbers reaffirmed the continued strength of this segment. It also demonstrated that top-flight Porsche sales are subject to rational behavior, and that’s a sign of a healthy market.

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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 2024 group debuting on December 11 will be the seventh list, so we have had plenty of time (and opportunity) to check how our predictive powers panned out.

2022’s Bull Market List selections produced a wide spread of valuation performance. On one hand, four cars managed to exceed a 25 percent annualized return (with one, the Volvo 240, yielding a massive 52 percent number), while four others essentially managed to tread water. As a whole, though, the group averaged an 18 percent annualized return, exceeding the collector market’s 5.2 percent.

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Biggest hit:

1981-93 Volvo 240 Wagon (52% annualized return)

Of the Volvo 240 Wagon, we said, “Until recently, no one—not even Volvo nerds—has ever considered the 245 anything more than ‘just a used car.’ As a result, so many have been lost to rust or the crusher. Now, the best ones have reached ‘fringe collector car’ status, but the fringe will only blur with time, until these weird cool cars level up to, ‘You paid how much?'”

That leveling up has happened. Nobody got wealthy from holding onto a 240 Wagon, but $26,800 for a #2-condition (Excellent) example is still a fair bit of coin. Though its rate of increase has slowed, great examples continue to trend upward.

Biggest miss:

1963–67 Mercedes-Benz 230SL (-1% annualized return)

With its introduction in 1963, the W113-chassis Mercedes-Benz 230SL brought the allure and some of the sportiness of its predecessors to a broader audience. It might not have the presence of a 300SL Gullwing, but the “Pagoda” SL, so named for the raised edges along the sides of its removable hardtop, proudly wears its own distinctive design character.

The 230SL has experienced ebbs and flows within the collector market for decades now, and after increasing in value 35 percent between 2020 and 2021 (before the boom really hit its stride), the “Pagoda” SL is seeing its values recede once more. The car had been trending upward since 2016, even as its older 190SL sibling headed in the opposite direction.

One of just four other cars from all Bull Market Lists to post a one-percent loss in annualized return, the 230SL is nonetheless holding relatively steady as the overall market begins to cool.

Honorable mentions:

1968–76 Ferrari Dino 246 GT (33% annualized return) and 1986–95 Suzuki Samurai (32% annualized return)

These two automotive specimens could scarcely be more different from one another, but they share nearly the same percentage of annualized return. Both have been on a tear over the last 24 months, each with their own reasons for doing so.

The Dino, long considered less than a “real” Ferrari, was already on its way to legitimacy among collectors, and it more fully cemented its legacy with a flurry of strong market activity. In fact, its sales have begun to cross into, and sometimes exceed, the vaunted 365 GTB/4 Daytona’s territory. This mid-engined, small-displacement V-6 underdog now receives the reverence that many argued was long overdue.

While the Dino carves its way through mountain corners, the Suzuki Samurai bounds up and over hillsides, paved roads be damned. The little trucklet is riding atop a confluence of enthusiasm for Japanese vehicles and for SUVs among Gen-X-and-younger buyers. As a result, #2-condition Samurais can nudge 25 grand. Heady territory for the no-frills but boundless fun off-roader.

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America couldn’t get enough of the space race in the late ’50s and early ’60s. Seemingly everything carried the theme, from consumer products to TV programming to automotive design. Ford eagerly got into the mix, and introduced the Galaxie as the top trim name for the Fairlane 500 in 1959. The Galaxie became its own model the following year and didn’t look back. Now, as collector cars, Galaxies have quietly—and significantly—increased in value.

The Galaxie found itself in constant evolution after it branched off from the Fairlane. Its debut in 1960 presented a step away from the frippery of 1950s design and toward a cleaner, more streamlined look. A swath of engines were available, from a 223-cubic-inch straight-six to a trio of powerful 352-cubic-inch V-8s. Despite the new look and power under the hood, however, sales tumbled to 289,268 from 1959’s 464,100. Couple that with the fact that cross-town Chevy had a winner on its hands in its full-size cars, and particularly the Impala, Ford had to stay on its toes and decided on an immediate update.

1961 brought styling that could be considered less distinctive but that was more in line with conventional tastes. Full, round taillights came back, and the fins, while still carrying a style line from the front door to the back of the car, grew more vestigial. Up front, the grille’s shape was simplified. Alongside these updates came the availability of the 390-cubic-inch FE V-8 making 375 horsepower. Stronger still was the 6V 390, which was Ford’s odd way of sharing that the engine came with three two-barrel carburetors sitting atop an aluminum intake manifold. In this guise, the 390 made 401 horses and 430 lb-ft of torque. Production began to rebound, falling just shy of 350,000 units.

Fins left the Galaxie for good in 1962, the same year that brought the phrase “Xtra Lively” into the mix. That’s what the XL stood for in the new 500 XL trim, which positioned itself against the Impala SS. The 500 XL featured sportier finishes inside and out, along with standard bucket seats and a center console. Two versions of the 406-cubic-inch V-8 became available, though the 352 and 390 mills remained.

1963 was a big year for the Galaxie. Sales, which had been trending upward with Ford’s constant tweaks, peaked that year at 648,010 cars. It was also when Ford introduced the “Total Performance” marketing campaign for the brand, and the famous 427-cubic inch V-8 between the Galaxie’s front fenders. The Sports Hardtop, with a more-raked-but-not-quite-fastback treatment to the rear roofline, became available as well, helping Galaxie-driving NHRA and NASCAR teams with a welcome aerodynamic complement to the added power of the 427. The Galaxie was now a force to be reckoned with on the sales sheets and on the track.

With the winning formula determined, Ford only made minor visual changes in the ‘64 model year, the final one of the Galaxie’s second generation. The Sports Hardtop became the standard roof design for all non-wagon, fixed-roof Galaxies, and engine choices remained the same as those from 1963.

These regular improvements in the breed (and GM’s official withdrawal from racing) led to more than a couple of trophies for the Galaxie. Perhaps its biggest victory came at the hands of Dewayne “Tiny” Lund at the 1963 Daytona 500. Lund got his chance to race for the Wood Brothers that year after their driver, Marvin Panch, was injured in a sports racer ahead of the 500. Ford finished first through fifth that year, boosting the Galaxie’s popularity, while Lund’s win helped set the course for the Wood Brothers to secure the NASCAR Owner’s Title.

The Galaxie’s prowess wasn’t limited to turning left or hitting the quarter mile, however. Jack Sears piloted a ’63 Galaxie (as well as a Jag and a Mini) to the British Saloon Car Championship. In a beautiful display of period saloon-car racing, touring car pilot Sam Tordoff’s impressive drive from last to third in 2020’s Goodwood Speedweek is an ample reminder that big doesn’t have to mean unwieldy.

Despite its capability, the Galaxie isn’t widely considered as popular a canvas for customization as the Impala. While not all Hagerty insurance policies indicate modifications, 6.7 percent of ’60–64 Galaxies are noted as modified, while 12.7 percent of ’61–64 Impalas are so listed. Interestingly, values for both suggest that modified examples are more prized than those left stock, with values for modified Galaxies and Impalas sitting at 37 and 45 percent higher, respectively.

Speaking of values, between engine choices, body styles, and trims within the Galaxie’s second generation, we could create dozens of valuation charts. To simplify things, we picked #2 (Excellent) condition values for three coupes—which, along with convertibles, are at the top of the valuation heap in terms of body selection—using varying trim and engine choices from the final year, 1964. Naturally, 427-powered cars lead the way, and they have done so to a dramatic degree, skyrocketing over 65 percent in value since the beginning of the pandemic boom. More entry-level cars with the 392- and 352-cubic-inch engines have also seen healthy bumps in value, but crucially, all have held their place in orbit even as the market has cooled over the last year. The average value for Galaxies listed with Hagerty in 2023 is about $21,800, so despite some flashy numbers up top, it is possible to get into this big Ford for reasonable money.

Quote data, a metric we use to infer who is buying specific models, has risen among Gen X and younger buyers for the Galaxie over the last four years. Gen X interest is up just under seven percentage points since 2020, while millennial and Gen Z interest is up about four percentage points. That said, interest in the Galaxie among folks under 40 still lags their overall share of the market.

These early Galaxies proved their mettle through regular refinement and evolution. Their proven reputation on track didn’t hurt, either. While the Galaxie might not be as emblematic of its era as the Impala, their values have demonstrated that enthusiasts believe Galaxies belong in the firmament of full-size muscle.

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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 2024 group debuting on December 11 will be the seventh list, so we have had plenty of time (and opportunity) to check how our predictive powers panned out.

2023’s Bull Market List, selected in late 2022, was the first of the Bull Market cohorts to face significant market headwinds. For the first time since 2019, the broader collector market’s annualized return dipped to under three percent (it was 2.6 percent in 2023, down from 5.2 percent in 2022). Despite that, this group of Bull Market picks performed admirably, averaging a five percent annualized return and outperforming the market as a whole by 2.4 percentage points. There were several noteworthy performers, though not all trended positive.

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Biggest hit:

1992–2006 AM General Hummer H1 (20% annualized return)

If ever there was a question about the collectibility of modern trucks that specialize in off-road prowess, the AM General Hummer H1 just answered it with authority. Just as the actual H1 physically stands head and shoulders above the rest of this list, so, too, did its 20 percent annualized return. A #2 (Excellent) condition 2002 H1 now sits at an eye-watering $142,000.

That stack of cash will get you one of the most capable and distinctive off-roaders in history. Derived from the military’s High Mobility Multipurpose Wheeled Vehicle (HMMWV), the Hummer featured 16 inches of ground clearance and took advantage of portal axles and independent suspension to traverse the roughest terrain. No one would mistake it for being fast—its roughly four-ton curb weight and 195-horse turbodiesel made sure of that—but then again, you don’t need pace when you’re romping around in the desert or crawling Rodeo Drive. The Hummer has long stood as a proud affront to all things sensible, so its stout performance in this market seems in-character.

Biggest miss:

2007–15 Audi R8 (-4% annualized return)

A manual transmission with a gated shifter. Naturally aspirated, mid-mounted V-8 or V-10 engines. These are the building blocks of the analog supercars that many in the collector market are clamoring for these days, right? The Audi R8 offers them, and the performance to match, without the cost associated with a similarly equipped Ferrari or Lamborghini. And yet, here the R8 sits, with the dubious distinction of a four percent loss in annualized return—the biggest miss of all Bull Market picks.

Though values went up 37 percent between 2019 and the end of 2022, and insurance and valuation inquiries for the R8 have been extremely strong, the model has fallen in value of late. The value for a #2 condition 2015 R8 V10 is down 4.3 percent to $156,000 over the course of the last year. In contrast, the 2014 Lamborghini Gallardo is up 1.4 percent over the same period. It might be that in the face of a slowing market, collectors on the lookout for aging supercars are sticking with more exotic brands rather than seeking the same experience at a more affordable price.

Honorable mention:

2001–04 Chevrolet Corvette Z06 (12% annualized return)

The fifth-generation (C5) Chevrolet Corvette, particularly the top-dog Z06, has begun to have its day in the sun. Though the Hummer’s market performance is in a different league, the C5 Z06’s 12 percent annualized return in the face of a cooling market confirms that collectors are firmly in tune with this Bowling Green bruiser.

And for good reason. The 405-horsepower LS6 V-8 and capable suspension enable the C5 Z06 to keep pace with modern sports cars, but it is just as comfortable cruising on relaxed trips. It is arguably the first truly modern Corvette, designed for world-class performance without the inherent packaging sacrifices of prior generations. Values for #2 condition Z06s have crested $40K and held steady over the course of the last year. Regardless of the future direction of the broader market, the C5 Z06 is now recognized in the pantheon of Corvette greats.

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Though Honda’s pivot to turbocharged engines for its sporty offerings took place over six years ago, enthusiasts still fondly remember the company as a manufacturer of screaming, 8000+ rpm four-pots. In fact, the lust for these mellifluous engines and their peaky, naturally aspirated powerbands only seems to increase with time. That’s why, even in a cooling market, this week’s very strong sale of a low-mile 2008 Honda Civic Mugen Si for $42,525 (including fees) on Bring a Trailer didn’t entirely surprise us.

Back in 2008, Honda fans in America were used to getting short shrift. Sure, the Acura Integra Type R made it stateside, but more than a decade had gone by since the raucous Civic Type R debuted abroad, and U.S. buyers had to make do with the entertaining but less-capable Si model. In an effort to meet some of that pent-up enthusiasm, Honda sent a limited-run tuner car our way in the form of the Honda Civic Mugen Si.

Mugen is a household name among those who modify Hondas. For those not in the know, it’s an engine tuner and parts manufacturing company co-founded in 1973 by Soichiro Honda’s son, Hirotoshi, and racer Masao Kimora. Since its inception, Mugen has been closely linked with Honda, and the partnership has built a rich auto- and motorcycle-racing history as well as several special-edition cars (almost all of which have become very sought-after in the collector market). Mugen was a natural choice, then, to co-create a special car for an American market that was brimming with excitement for anything performance-oriented from Japan.

The Mugen Si wasn’t a powerhouse by any stretch. Though equipped with a throatier cat-back exhaust, power figures held steady at 197 hp and 139 lb-ft of torque from its 2.0-liter K20Z3 engine. Mugen’s tuning instead focused on handling: re-valved dampers, shorter and stiffer springs, lighter wheels, and grippier tires amplified the little Civic’s roadholding and made it much more capable. A body kit and exclusive Fiji Blue Pearl paint added some tuner-car flair to the package.

“The Mugen Si wasn’t any faster than the standard Civic Si sedan, but it sure looked and sounded like it was,” says ’08 Civic Si owner and Hagerty Price Guide editor Greg Ingold, who is also a regular contributor to this site. “Essentially, the Mugen Si was a glimpse into what a quality ‘tuner’ could be like. In 2008, the Japanese tuner world was still coming off of the gaudy ‘auto salon’ era that everyone associates with the Fast and Furious movies. Buyers were likely going to perform these upgrades to their Si anyway, so getting all the tweaks from a name like Mugen right at the dealership was a great selling point.”

The $29,500 MSRP did give a lot of potential buyers pause, however, and quite a few of the 1000 made ended up sitting on dealer lots.

Fifteen years on, the eighth-generation Civic Si remains a well-rounded and engaging car to drive in just about every aspect. Headlined by an engine that begs to be revved all the way to its 8000-rpm redline, it’s also the final generation to make its power that high—the redline dropped to a mere 7200 revs with the introduction of the ninth-gen car in 2012.

The regular Civic Si isn’t in the Hagerty Price Guide, but clean, lower-mile examples are plentiful and can still be had for under $15,000, with top-flight cars coming in around the $25K mark. With that context, the fact that this Mugen Si sold so well is likely to make plenty of eighth-gen Civic Si owners perk up.

“This potentially points to the future collectibility of the eighth-generation Civic Si as a whole,” says Ingold. “I don’t expect the market to explode for these cars overnight, but it may be an indication that the generation is gaining attention.”

Indeed, this sale does highlight the healthy outlook for certain modern front-wheel drive cars as collectibles (one look at the record for an Integra Type R, set earlier this year, is enough to confirm the strength of this sub-segment). It also took place at a crossroads of an ascendant Japanese segment and a slowing market. As we’ve noted recently, strong sales of in-demand cars are no longer a given, but this Mugen Si is a reminder that great-condition cars mixed with a little rarity can still make for an impressive number when the clock runs out. If you’re a fan of high-revving front-wheel drive Hondas, the Si is the one to modify and enjoy, while the Mugen Si looks like it may have begun to be the one to collect.

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Among the various corners of the collector car market, few have seen such widespread ascent in the last decade as vehicles from Japan. Demographically, this makes sense—just as muscle cars transitioned from mere “used” cars to collector status as the generation that grew up with them hit their peak earning years, so too have cars from the ’80s, ’90s, and early aughts. What’s more, though there are plenty of standout moonshot examples—looking at you, Skyline GT-R and Mk IV Supra—this latest round of emerging classics also offers more accessible ways to enjoy cars from a bygone era.

We dug into our Hagerty Price Guide data to see which Japanese collectibles can be had in #2 (excellent) condition for under $25K. This fetches a needs-almost-nothing example that, while not quite concours level, is nice enough to proudly display at shows and events, or just use and enjoy as a pristine example. Driver-quality cars can typically be had for thousands less. We wanted to get a feel for what’s popular in addition to where the values stack up, so we layered insurance policy data on top of the $25K threshold to see which models in this group were most abundant among Hagerty customers. Here are the top ten.

1990–2005 Mazda Miata

Perhaps it should come as no surprise that Mazda’s cheerful little convertible occupies the top spot of this list. Technically, it’s the top two spots, with the first-gen NA model taking top honors and the ’99–’05 NB nabbing second place. With three-quarters of a million of them built between these two generations, Miatas were $3000 cars seemingly forever. Plenty of them still exist, but racing and decades of being known as a cheap-thrills sports car means that finding excellent-condition cars has become a bit more challenging.

Whether you’ve gotta have pop-up lights or prefer the updated look and feel of the second-gen cars, you can find one for less than $20K. Currently, #2 condition Miatas in these generations range from $19K for a ’97 model (the final year of the NA) to $16,900 for an ’05, the last year of the NB. Deals are out there, and these reliable cars still have decent parts availability, so the diminutive Miata is likely to loom large in the collector world for years to come.

1984–1996 Nissan 300ZX

Beneath the Miatas on this list, two generations of 300ZX sit adjacent to one another. The 1990–’96 Z32 base (non-turbo) Z-car slides in ahead of its more angular ’84–’89 Z31 older sibling. Though the Z32 introduced a number of changes that made the car more dynamically appealing, 30–40 years on, performance is less of a consideration for these cars. The bigger question is stylistic: whether to go for the pseudo-digital, boxy-look ’80s, or the more sculpted ’90s-Japanese-sports-car-boom visual.

Z32 base cars nudge our $25K limit with a #2 value of $24,500 in later years, with values slipping a bit for 2+2s and older cars. Turbocharged examples of Z31-generation cars hit 25 grand right on the nose, but a #2 condition 1987 base Z comes in at $11,400, so there is a wide value spread of quality Z-cars from this era.

1984–1989 Toyota Pickup

Turns out Marty McFly isn’t the only one who likes the Toyota Pickup. That the durable, runs-forever Pickup (Toyota really got creative with the naming of this one) finds itself third on this list behind two venerable sports cars speaks to just how much people dig this truck. Based in no small part on surging interest interest in the Pickup, we named it to the 2023 Hagerty Bull Market List.

Despite the buzz, there’s some solid values out there. #2 condition values range from $25,000 for an ’85 SR5 or half-ton 4×4 down to $13,200 for a 1985 Deluxe trim with the diesel engine.

1990–1995 Toyota MR2

Baby Ferrari looks and mid-engine character set Toyota’s Mk II MR2 apart from the others in this list. Though the 200-horse turbocharged 2.0-liter 3S-GTE engine was more sporting, the base car’s 130-horse mill only had 2300 lbs to push around—similar to a contemporary Miata in terms power to weight ratio. The “Mister Two” garnered a less benign reputation than the Mazda as a result of stories of exuberant owners finding themselves facing the wrong way after lift-off oversteer moments, however. To quell these concerns, Toyota induced a number of suspension tweaks over the car’s life.

That doesn’t appear to have dampened enthusiasm for the MR2 in the collector market. Turbo models have crept above $40K, but the base car hovers at $24,400 for younger cars and $19,300 for early models.

2003–2008 Nissan 350Z

Three generations of Z-car on this list suggests Nissan was doing something right back in the day. After a brief hiatus, the Z returned, eschewing the previous generation’s tech-heavy ’90s approach for retro-ish styling and the now-revered (but aurally divisive) naturally aspirated VQ35DE 3.5-liter engine. Its debut was welcomed with enthusiastic reviews, and it quickly become a regular in the tuner scene and at track days.

Like the Miata, the 350Z’s sporting pretenses mean that many of them have met a noble end fulfilling their intended purpose, and still more have been cut up or modified in that vein. Clean ones are out there, but they do take some sleuthing. Right now, #2 condition values range between $23K and $24,900 depending on year and trim. The 350Z was also part of Hagerty’s 2023 Bull Market vintage.

1985–1995 Suzuki Samurai

The second of two trucks in this group, the Suzuki Samurai is also a Hagerty Bull Market List vet (from 2022). Samurais made a big splash in the U.S. market when they debuted for the 1986 model year, and they remain popular among off-roaders and fun-seekers today. Parts and modifications abound for this ultra-basic collectible, ensuring enthusiasts can keep theirs up to snuff or build their Samurai to conquer their local trails.

There’s a big spread in values for the Samurai based on years and trim. $24,500 snags a ’95 JL, while a similar-condition ’91 JS can be had for a mere $13,700.

1991–1999 Mitsubishi 3000 GT

Perhaps as well as any, Mitsubishi’s 3000 GT VR4 embodied the tech-driven battle for Japanese sports car supremacy in the ’90s. Active aero, all-wheel drive, all-wheel steering, tunable exhaust, twin turbos, and a host of other features made for a quick, if chunky, entry into the segment. Buyers who wanted the show and some of the tech without the associated cost could opt for the front-wheel drive, non-turbo 222-horse 3000 GT SL. 1994 brought with it a facelift, and this second generation also saw some of the options begin to taper in an effort to keep prices in check. Ultimately, increasing prices drove sales to a trickle, and the car’s final year stateside was 1999.

Values for the SL vary between $19K for a ’99 down to $13,400 for a ’91 model. Base cars still come with the 222-horse engine, but forego most of the techno-gadgetry that help give the car its personality. As such, they range from $16K for a facelifted car to $11K for an early model.

1968–1973 Datsun 510

Datsun’s 510 stands as one of the first cars to truly convert Americans into loyal customers of a Japanese brand. As we highlighted in a recent Market Spotlight, the small sedan dominated its class in racing throughout the ’70s and introduced a fun, affordable driving experience to thousands.

They’re still reasonably affordable, too, despite a recent uptick in values. $20,500 will fetch a #2 condition sedan. Expect to pay more for coupes, as they’re more rare.

1985–1991 Honda CRX

If the 510 was the car that democratized driving fun among the first big wave of Japanese offerings on U.S. shores, Honda’s CRX brought a similar take to the economy segment in the ’80s. Honda R&D Managing Director Hiroshi Kizawa’s brief for the car came down to two words: “Economy Fast,” and while no one would consider a stock CRX fast these days, the car did wonders to inject the notion of driving pleasure into Honda’s previously plain but reliable and economical identity.

These days, #2 values for a CRX Si—assuming you can find one in that condition—hover around $23,500. That may sound like a lot of money for not a lot of car, but a CRX never fails to bring a smile when the roads begin to twist. The CRX Si landed on Hagerty’s Bull Market list in 2020.

2002–2007 Subaru WRX wagon

The last car on our list sits directly astride our $25K threshold. The four-door Subaru WRX that hit our shores in 2002 is now worth a cool $25,200 in #2 condition. The wagon of the same era squeaks under, however, at $22,400.

What’s not to like about a discount for more space? Though it’s every bit as capable, it’s not the look popularized by the high-flying Subarus competing in the World Rally Championship at the time. The last couple of refreshes of the WRX have brought hand-wringing from the Subaru faithful, who think the company has slowly gotten away from the original identity and feel of the car. Whether that’s true or not, combine it with attrition over the years, and the old ones that are left have become revered, useful collectibles.

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Cars from the “greed is good” era are once again raking in the dough, and one only has to look at AMG’s executive bruisers from the late ’80s and early ’90s for proof. Big numbers over the course of the last year, like $775K for a 1987 AMG Hammer Sedan and an eye-watering $885,000 for a 1991 AMG 6.0 Widebody Coupe have shown the market’s renewed enthusiasm for the tuner company’s work from before it was subsumed by Mercedes-Benz.

Fortunately, though, not all these muscular AMGs have become unobtainable, as suggested by this 1991 Mercedes-Benz 300TE 3.4 AMG Wagon, which transacted this week for $65,230 on Bring a Trailer, including fees. We wouldn’t call that affordable, but as a practical, stout, entry-level AMG, it does buy entry to a pretty exclusive club at less than a tenth of the price of those others we mentioned.

Imported from Germany this year and visually not far off from the only AMG 6.0 Hammer Wagon known to exist, this 300TE comes decked out with AMG bodywork, 17-inch monoblock wheels, and a host of factory and AMG options. It certainly looks the part.

While we’re used to seeing AMG coupes and sedans cross the block, it’s not all that often an early AMG wagon makes an appearance. To get a better handle on the car and its sale, we reached out to Jonathan Hodgman, owner of Blue Ridge MB, a shop northeast of Atlanta, Georgia that specializes in AMGs from this era.

Hodgman (who happens to own that Hammer Wagon we mentioned) explained that even though the one that sold on BaT doesn’t have the V-8 power that ’80s and ’90s AMGs are famous for, the company still managed to liven up the car’s personality by sticking to the fundamentals. “It’s just applying basic hot rod principles: added displacement, fatter cams, bigger valves, a little port work. And that’s the root of it,” says Hodgman.

The factory three-liter M104 six-cylinder was rated around 225 hp stock, while AMG’s 3.4-liter put out 276 hp and 245 lb-ft of torque. Not all that big of a difference, but Hodgman notes that the numbers don’t tell the whole story. “Invariably it’s not just the peak power but also the torque under the curve that’s tangible. With that fatter cam, the transition is greater from off-power to on. As a result, the presentation of the power to your brain and your butt, if you will, is more engaging, making it a more fun car to drive.”

Overall, even with around 106,000 miles, this 300TE presents very well, with a near-spotless interior and undercarriage. A stack of service records (they’re in German) and photos of compression tests on all cylinders helped add confidence to the transaction.

Speaking of service, there are a few issues to report about AMG’s six-cylinder cars from this era. Some cars did get an aftermarket Torsen differential that was prone to failure, and head gasket issues were a known problem on the factory and AMG engines. By now, though, most of those issues have been remedied, and the six-cylinder AMG cars are every bit as bulletproof as their more staid standard W124 counterparts. That’s good, since sourcing parts can be a challenge with pre-merger AMGs.

How many of these uprated wagons hit the streets? It’s unclear. “The problem is that there is no official number,” says Hodgman. “The difficulty is that there were so many subcontractors for AMG. You had AMG Japan and the various outlets there. Same thing here in America—you had Westmont, but there were other licensed AMG installers. It was the same in Germany, where this car came from, and Austria and Australia and the U.K. No real records were kept.” Even so, given how infrequently these cars come up for sale, their rarity isn’t in question, and this car’s well-documented history aided in its provenance.

As with just about every corner of the market, cars like this wagon that might be thought of as substitution candidates have jumped in value. Hodgman noted that ten years ago, this 300TE would have been fortunate to fetch 15 grand. He added that he’s observed values of quality standard Mercedes examples of this vintage soften in the last six months, while AMGs have continued to rise. This car’s strong showing appears to confirm Hodgman’s assertion that demand remains strong, at least for the right cars.

Hagerty data backs that up. We’ve begun to keep an eye on ’80s and ’90s AMG models, and while prices are in fact up—sometimes stratospherically so—there’s still significant variance based on provenance and options. Given that outright performance is no longer a real consideration for buyers of these AMGs, this six-cylinder wagon is an appealing and distinctive way to get a piece of Mercedes-Benz tuner history without spending a fortune.

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Ted Ornas, chief designer at International Harvester, got a rather open-ended directive from the company’s top brass in 1959. They wanted a go-anywhere vehicle, but they had no clear idea what that would entail. According to Ornas, he was told to “design something to replace the horse,” so he went to work on what would eventually become the Scout 80. Debuting as a 1961 model, the Scout was an affordable, rough-and-tumble utility vehicle with available four-wheel drive, sort of like an Army jeep but with more creature comforts. Almost immediately, International had a hit on its hands.

Fast forward to the end of the 1960s, and thanks primarily to Jeeps and Scouts, the 4×4 had become a small but popular segment. Ford’s Bronco (from 1966) and Chevy’s Blazer (from 1969) were now on the scene, as were small numbers of Toyota Land Cruisers and Series Land Rovers. International Harvester was feeling the pressure, and though IH had steadily updated the Scout through the decade, it was time for a significant evolution of the little truck. Enter the Scout II—a tempting Bronco alternative that appreciated steadily during the recent market boom and is currently riding steady.

Sitting on the same 100-inch wheelbase as its predecessors, the Scout II was now 10 inches longer (mostly behind the rear wheels) and 1.5 inches wider. The truck’s dash had a more car-like appearance, and more amenity-rich packages became available in an effort to provide a more civilized experience. That said, it was still an incredibly capable off-roader, a differentiation that IH’s ads never failed to mention.

Configurability was one of this segment’s calling cards, embodied by the Scout’s three different setups: roadsters (essentially pickups with a short removable hardtop), soft tops, and Traveltops (later dubbed Scout Wagons) with removable but large and heavy steel hardtops. The Scout Terra and Traveler, produced from 1976 to ’80, had an 18-inch longer wheelbase and benefitted from lighter fiberglass tops.

And that was just the body styles. A wealth of drivetrain options further gave Scout buyers the ability to tailor the truck to their individual needs. Initial engine offerings included the base 196-cubic-inch four, a 232-cubic-inch straight-six, and a 304-cubic-inch V-8, all of which were updated versions from the Scout 800. A more powerful 258-cubic inch six-cylinder arrived shortly after the truck’s debut, and a 345-cubic-inch V-8 filled out the early range of powerplants, though IH would offer naturally aspirated and turbocharged diesel straight-sixes from Nissan toward the end of the Scout’s life. A variety of three- and four-speed manuals were available, along with a three-speed automatic.

Power was sent to the wheels via a Dana 30 front axle and a Dana 44 rear through 1974, after which the Dana 44 was standard at both ends. That same year, power assist and front disc brakes became standard.

While a number of trim packages were available from the factory, the 1977–79 SSII, or Super Scout II was perhaps the most well known and today is the most desirable. A stripped-down soft-top model, the SSII gained fame for its off-road racing prowess, though the four different sub-trims of production models went from mild (the Rancher Special) to wild (the Baja Cruiser). All SSIIs featured open door sections with plastic inserts and soft doors available in black or white. Inside, the bucket seats were fixed rather than recline-able, and the rear seat was optional. A snap-on defroster cover came standard to help keep dust out of the vents. Underneath, a set of three spring leaves with one overload leaf helped beef up the suspension, and skid plates protected the transmission and fuel tank. The SSII sported its own unique grille, as well.

About 260,000 Scout IIs were built between 1971 and 1980, and given the various powertrains and options, you can find one to fit almost any budget. Rust and hard living have taken many a Scout off the trail, though, so there aren’t as many available as the raw production numbers might suggest. The roughly 4000 SSIIs built are the most valuable, with a median condition #2 value of $64,750. The overall median #2 value for 1972–80 Scout IIs, however, is $42,200 and the #2 value for certain configurations dips well below 30 grand.

The Scout’s recent ascendancy trailed the sharp rise of the original and second-gen Broncos, both of which led the charge in this segment’s growing popularity. Prior to the recent boom that started in 2020, the Scout trundled along, about as valuable as a similar-quality contemporary Chevy Blazer and about 10 grand cheaper than a Toyota FJ55. All of these vehicles had been gaining value and popularity at a steady if not brisk pace. Since 2022, though, the vehicles in this segment that experienced the strongest growth (like the Broncos) have also retreated the most, and the trucks with more measured growth (like the Scout) merely leveled off or posted small losses. These all appear to be moves of a popular segment in a cooling market.

The general stability in the Scout’s pricing, and in this segment as a whole, is partly down to demographics. Gen-X loves early SUVs and legitimized the segment as collector-worthy almost as soon as it began buying collector vehicles. The Scout’s numbers bear this out: though Gen X currently makes up 31 percent of the market as a whole, the generation represents more than 46 percent of Scout buyers. Millennials similarly display enthusiasm for Scouts, making up over a quarter of quotes sought though they hold a 22 percent market share overall. It’s this kind of generational interest that was a strong factor in causing us to pick the Scout II for our Bull Market List in 2020.

In the end, Ornas’ “something to replace the horse” has proven to be a popular and trusty steed, if not quite the show pony that Ford created. It’s also one whose appeal has enjoyed surprising longevity, especially when you remember that the Scout and other IH consumer products disappeared decades ago. That said, VW is currently reviving the Scout nameplate for a series of electric SUVs, which may revive interest in the original.

It may be harder to find parts for Scout IIs than it would be for something from the Big Three, and a fair amount of fiberglass has taken over for metal bodywork over the years. Fortunately, though, they also have an incredibly dedicated following with resources aplenty to help keep these rigs on the path, and they’ll always stand out in a crowd of Broncos and Blazers. All things considered, it looks like the Scout II market will remain healthy for generations to come.

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Standing alongside the bright blue CERV III concept—a 650-horse, mid-engined, all-wheel-drive Corvette concept from 1990—Corvette chief engineer Tadge Juechter sought to explain the new E-Ray in a historical context. We were in Denver, at the first-drive event for Chevrolet’s first production all-wheel-drive Vette, the first to have an electric drive motor.

Juechter reminded us, too, that Corvette dabbled in powering all four wheels with the CERV II concept, completed by Corvette legend Zora Arkus-Duntov in 1964. Then, as now, additional technologies like all-wheel drive were added to amplify performance. In the 2024 Corvette E-Ray, Juechter noted, electrification is a means to that end.

“This is a performance hybrid, and the result of what sports car maniacs do when they get ahold of this technology,” he said. “We knew we were going to do an all-wheel-drive car when we committed to a mid-engine platform, so we studied options for mechanical or electric drive for the front wheels. The outcome wasn’t even close.”

In interviews on site, other members of the Corvette team confirmed that the E-Ray’s V-8-in-back/electric-motor-up-front layout was optimal for packaging, for keeping parasitic drivetrain losses at bay, and for overall performance. Knowing that powering four wheels inevitably adds heft, they stressed their efforts to trim weight wherever they could. The electric front drivetrain components (all of which are built in-house), along with changes to the front shock towers to accommodate the axles, add about 265 pounds over the Z06. (You can take a deep dive into more technical aspects of the E-Ray here.)

Specs: 2024 Chevrolet Corvette E-Ray

Price: $104,900 (Price as tested: $130,905)
Powertrain: 6.2-liter V-8, permanent magnet motor with 1.9-kWh lithium-ion battery; 8-speed dual-clutch automatic
Horsepower: 655 combined (495 gas/160 electric)
Torque: 595 lb-ft combined (470 gas/125 electric)
Layout: all-wheel-drive, two-door, two-passenger coupe
EPA-rated fuel economy: 16 city, 24 highway, 19 combined
0–60 mph: 2.5 sec
Competitors: Porsche 911, Mercedes-AMG GT

Though the E-Ray is a hybrid, it is not a plug-in. As such, its small battery does not permit much pure-electric drive range—four miles, tops. Its purpose is to enable a more versatile all-weather, all-season Corvette with a very approachable 655 total system horsepower, 160 of which electrically powers the front wheels. It also launches like no other production Corvette in history. Zero-to-sixty comes in 2.5 seconds, a tenth quicker than the Z06 and four-tenths quicker than the Z51 Stingray.

Drag-race prowess aside, the E-Ray is positioned as a high-tech grand-touring option in an expanding Corvette lineup designed to meet a broader array of buyers. Think Z06 pace, absent the edgy, track-focused chassis tuning and the LT6 engine’s flat-plane-crank wail.

We were handed the keys to a Sea Wolf Gray Tricoat Corvette E-Ray—a new color for 2024—and encouraged to disappear into Colorado’s Rocky Mountains. At $130,905, this top-trim 3LZ example came packed with $9880 worth of aesthetic bits, including carbon-fiber accents inside and out, a red engine cover, and black exhaust tips. Other add-ons: the popular Front Lift (a $2595 option that is certainly cheaper than front bumper repairs) and the $500 Performance Package (larger rear wickers and Michelin Pilot Sport 4S summer tires). To demonstrate just how capable the E-Ray was on the base tire, however, our tester was re-fitted with Pilot Sport all-seasons.

The first thing you notice when you walk up to the E-Ray is the absence of black accents. All of the car’s body panels are shared with the Z06, but the front fascia and the strakes along the enormous side intakes are instead painted to match the color of the body. The handsome, thin five-spoke wheels look like they came out of a Ferrari catalog, more sports car style than motorsport-butch. Even in flashy look-at-me colors, the E-Ray gives off an air of restraint when compared with the more manic Z06.

Inside, as has been the case since the inception of the C8, you can order your interior as ostentatious or as toned-down as you like. The E-Ray’s interior is the same as the others in the lineup, though a new color—Artemis, a soft green-gray hue—has been added. Our car’s Natural tan coverings, accompanied by a wash of carbon accents, felt in line with the car’s price point and near-luxury comfort pretenses.

We opted to start our journey in Stealth mode. It’s the E-Ray’s pure-electric function, intended for leaving your neighborhood without angering the Joneses next door. Novel silence and a slight hum filled the cabin as I poked the start button. That’s about all Stealth mode provides, however. Air conditioning is not available in this mode, as the 1.9-kWh lithium-ion battery doesn’t pack enough punch. Once you reach the limits of the battery (either by mileage, by exceeding 45 mph, or by using more than 30 percent throttle) the 495-horse 6.2-liter LT2 V-8 kicks on, and the only way to return to Stealth mode is to shut off the car and restart it. All this is to say, the E-Ray is not an electric sports car in the sense some people might expect. The electrification supplements, deepens, and alters the scope of Corvette performance and the environments in which it is usable; in this context, Stealth mode is best thought of more as a handy add-on than a prominent feature.

It didn’t take long for us to appreciate the E-Ray’s grand touring recipe. Eighth-generation Corvettes have been competent cruisers since day one, and even the Z06 isn’t too jarring for long journeys. The E-Ray, though, takes that a step further. Bolstered by its electric motor, there’s a dissonance between the E-Ray’s unburdened, almost relaxed V-8 sounds and the immense pace the car so effortlessly carries. It’s a wholly different personality than the Z06’s urgent, ever-thrumming sound and sharp-edged handling.

Because of that, during the early part of our road drive, we found ourselves wondering whether the E-Ray was too docile and buttoned down for something of its looks and capabilities. As our route began to bend through the mountains west of Denver and we pushed the car harder, the E-Ray began to hint at its potential, but always with an unflappable, “I got this” demeanor.

Effortless power delivery and a stratospheric performance envelope constitute the E-Ray’s personality. Torque arrives early and linearly to all four wheels, backed up by Michelin all-seasons (345-section in the rear, the largest such tires offered on a street car) that offer far more grip than can be safely used on the street. The pull from the front axle—a feeling that takes some getting used to in a Corvette—builds trust that the front end will actively guide the car’s trajectory as you exit corners on throttle. The uniquely tuned Magnetic Ride Control suspension, softer than the Z06’s, keeps the chassis poised and unperturbed by imperfections. There’s very little theater associated with carrying speed in this car, and never a moment on the street when the E-Ray feels like it will run out of give.

That said, the E-Ray is still fun. It’s still a C8 Corvette, which means it delivers all of the brilliant chassis feedback we’ve come to expect from recent General Motors performance vehicles, including the Cadillac CT4-V and CT5-V Blackwings. Even the steering, now forced to accommodate the additional mechanical components and thrust of all-wheel drive, conveys a clear sense of what the front end is up to.

We did, however, encounter a foible unfamiliar to the Corvette faithful: torque steer. Heading into a valley, while on throttle and driving over changing camber on a low-grip surface, the wheel pulled left in a quick instant. Over our hours of street and track driving in the E-Ray, this jitter only occurred with one perfect confluence of circumstances. But it served as a salient reminder: the E-Ray is a different kind of Corvette.

How different? These same all-wheel-drive dynamics put to rest any concerns about the E-Ray’s personality at the rough-surfaced Pikes Peak International Raceway (PPIR). With enough room to fully stretch its legs, the E-Ray’s relaxed confidence on the street translated to approachability on track.

“The stability that’s built into the car is a little bit on purpose, and a little bit comes for free,” explained vehicle dynamics engineer Stephen Padilla. “Given the broader mission envelope of the E-Ray, we set up the suspension to yield a Corvette that’s easier to quickly get comfortable with compared to the Z06. And the fundamentals of an all-wheel-drive platform are inherently going to contribute to that goal.”

Effectively applying 655 horses to road course pavement is rarely this easy. Despite the gritty surface, the E-Ray (equipped with the Michelin Pilot Sport 4S summer tires for the track session) launches without fuss, hurtling past triple digits in seconds.

PPIR’s road-course-oval configuration contains several pavement transitions that require vigilance at speed, but the E-Ray traversed them with confidence. As we modulated the standard carbon-ceramic brakes with the ever-firm pedal, the eight-speed dual-clutch transmission grabbed the proper downshift every time, without hesitation.

While you’ve got your eyes up in the brake zone in preparation to crank the wheel at corner entry, the E-Ray’s regenerative braking charges the battery. Optimized for continuous discharge and recharge, the battery is capable of several laps at full capability around this one-minute circuit. The system is always active and never fully discharges. When the battery is low, the motor will adjust its protocol and contribute primarily during on-throttle cornering to maintain consistent handling dynamics. The Charge+ mode more actively uses the electric motor as a generator to replenish the battery.

Unless you’re trail braking, the E-Ray gives a faint brush of turn-in understeer at the limit. Remember—this is the kinder, gentler high-horsepower Corvette. Your fastest pace requires getting the car pointed to corner exit as soon as possible, and then stomping on the throttle; from corner apex to the edge of the track is where the E-Ray’s all-wheel drive and brutal thrust shine. Its chassis is not knife-edge precise like the Z06—nor is it supposed to be—but the E-Ray will lay down a seriously fast lap without unsettling drivers with less experience or suboptimal car control.

Unfortunately, our track time was cut short by a warning notification from the Performance Traction Management system (GM’s driver aid featuring adjustable traction and stability control, commonly called PTM). The other two drivers on track with us suffered the same fault. GM has since told us it was the result of a preproduction bug that has since been worked out of the system. The E-Ray is the first car in which PTM—renowned for its scalability and non-intrusiveness—has been used in an all-wheel drive configuration. In this application the system has the benefit of an additional front axle to dial inputs, but that sword cuts the other way in the form of added complexity.

To stress the E-Ray’s agility and capacity to misbehave with the best of its rear-wheel-drive Corvette siblings, Chevy offered up an autocross course with a drift circle. All-wheel-drive calibration engineer Jason Fahland shared a bit of guidance as we sat between the start cones: “The E-Ray takes less countersteer input than you would need in a rear-wheel-drive car. If you keep more steering lock in it,” he added, “it’s going to keep that side slip going.”

The big-fendered E-Ray scythed through the cones better than you might expect, pulling toward apexes with the nose under measured throttle and happily rotating the rear at full tilt. Breaking the rear end loose on the drift circle came like this: Initiate the turn, find the lateral limit, and then stab the throttle. Holding the drift proved a more delicate balance between just the right throttle inputs and, as Fahland said, less countersteer than we’re accustomed to. With another session to practice (and perhaps another set of tires, since we threw a cord in a cloud of tire smoke on our second trip around the circle), we’d have cracked the code. Not all the journos present could get the car sideways, though, and some complained of understeer. At the end of the day, the E-Ray will flatter most drivers.

That the all-wheel-drive E-Ray can enthusiastically drift, turn a lap time within a breath of a Z06, and then cruise along quietly while coddling its occupants is a testament to the technology and tuning behind it. Difficult as it is for yours truly—an adamant track rat—to admit, not everyone who wants a Corvette can live with the Z06’s high-intensity, feverish personality. Still, most wouldn’t mind similar pace, and the E-Ray provides it with a bit less amygdala tickle.

Over its seven-decade run, the Corvette has meant a lot of different things to a lot of people: Road course terror. Summertime companion. Quarter-mile monster. But it’s always been an American innovator. The E-Ray is all of those. Now, Chevy would argue, it’s also an all-weather cruiser. Through that lens, the groundbreaking E-Ray needs little explanation.

2024 Corvette E-Ray

Highs: A high threshold that isn’t hard to reach; monstrous launch; pace on the street feels effortless.

Lows: Light on personality at lower speed; preproduction tech hiccups limited our seat time; price tag for the top trim is no joke.

Takeaway: An all-American, grand touring, modern marvel.

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The Pinto you see here probably wasn’t exactly what Lee Iacocca had in mind when he initially pushed for Ford to create an affordable compact car, but the 1970s had a funny way of transforming all sorts of Detroit iron into colorful, bestickered lifestyle expressions. We’re still benefitting from that today, and this 1978 Ford Pinto Cruising Wagon is proof.

Born quickly—just 25 months between conception and production—the Pinto debuted in 1971 as Ford’s answer to the Beetle and the growing compact car segment. Initial offerings began humbly with the Pinto sedan, and the Runabout hatchback followed soon after. The Pinto wagon rolled onto America’s streets in 1972, though at the time the most personality the little longroof could muster was the faux wood-sided Squire trim package.

In response to domestic competition, Ford steadily increased the displacement and power under the little Pinto’s hood, but like most cars of the era, even the most powerful options weren’t going to do more than help the car get out of its own way. By 1974, Ford’s overhead cam 2.3-liter four cylinder became optional, and its 2.8-liter Cologne V-6 arrived the following year as the top available engine.

As the decade progressed, Ford steadily added colors, stickers, and style to its little economy car. The Sprint Decor Group and subsequent Sprint and Luxury Packages kicked things off, with 1976 bringing the Stallion’s sporty blackout package. Likely 1977 through 1980 may go down in history as peak theme and sticker, as least as far as American cars are concerned. Headlined by the flaming chicken on Pontiac’s Trans Am but spread across pickups, large coupes, and economy cars from just about every American manufacturer, nothing was immune from wild, character-imbuing packages. Enter the Pinto Cruising Wagon.

Making hay out of the nationwide van craze, Ford started with the Pinto wagon and replaced the rear windows with panels and distinctive bubble windows. They added slotted wheels, a stand-out sticker package, and some truly outrageous color offerings, including the Tangerine you see here. The interior positively screams style, with orange, plaid, and stripes everywhere you look.

For as many as Ford made, there aren’t a whole lot of Pintos left in good condition, much less these time-capsule Cruising Wagons. This example, available on Hagerty Marketplace, shows 58,919 miles and presents very well. Aside from its outgoing personality, this Pinto also features the venerable 2.3-liter four-pot backed by a four-speed transmission, air conditioning, a wealth of optional equipment, recent service, and fresh tires. Sold on Bring a Trailer earlier this summer, it does take a certain type to proudly parade around in this Pinto. Hop in, stick your favorite Styx cassette in the stereo, and relive one of the brightest moments in the Pinto’s history.

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If you leaf through a pile of car magazines from 20-or-so years ago, scarcely an issue will go by without some news from the flourishing sports sedan segment. Comparison tests pit BMW’s 3-Series against the latest up-and-comer. Japanese brands took the step from economy cars to viable sports-luxury alternatives and began to legitimately thrive. Jaguar and Saab offered their own niche takes. And what’s this about Cadillac making a pivot to lively cars that handle?

Fast forward to today, and turn-of-the-century cars like the Mercedes-Benz C-Class, Audi A4, and Lexus IS300 haven’t taken to the collector world with quite the same gusto as when they initially debuted. Though many of them, even in base or mid-tier trim, excelled as driver’s cars and wore their manufacturer’s clearly defined character on their sleeves, collectors have largely ignored them until recently, instead focusing on top-line badges like M, AMG, S, or V. The rest can be had for a comparative song (but that may slowly be changing).

There are entirely logical reasons for this. First and foremost, these cars were designed to be fun appliances, not collector’s items. People enjoyed them (many via lease), and they often fell into disrepair in subsequent ownership, something Rob Sass refers to as “third owner syndrome.” As a consequence, finding a solid example may take patience and diligence.

What’s more, when a driver’s car becomes more affordable, the urge to take it to the track gets stronger. Go to any amateur track day, budget endurance race, SCCA or NASA weekend, and you’ll suddenly discover where all the E36-generation BMWs went. Head to a drift event and you won’t miss the distinctive sound of a Nissan VQ engine generating tire smoke from under an Infiniti G35’s fenders.

Still, there are good, older sports sedans out there in an array of flavors. In order to understand the extent of enthusiast interest in this segment, we cast a wide net over contenders from multiple continents and manufacturers. And because many of these vehicles are not tracked in the Hagerty Price Guide, we relied on average quoted value taken across model variants (for example, the data below for the C-Class Mercedes includes the base cars as well as AMG trims—the same goes for performance versions of Audi, BMW, and Cadillac).

As modern enthusiasts pine for more driving engagement and personality, cars from the 1990s and and 2000s (which generally have a more analog feel than new cars but also have modern performance and reliability) have seen an uptick in popularity, and the last few years have mostly been good to sports sedans as a result. Overall collector interest in this list of cars is up 38 percent, and quoted values are up 14 percent since January 2021.

It’s not surprising that the German brands, which were the segment’s sales leaders since its inception, make up the lion’s share of the interest from buyers calling for quotes, with BMW’s 3-Series leading the way at 36 percent and the Mercedes-Benz C-Class coming in at 24 percent of the cars sampled here. Interest in the baby Benz is up 4 percent in the last three years, while the BMW has tapered 2 percent over the same period.

Despite the popularity of the C-Class—and the inclusion of AMG variants—the model’s value is only 11 grand. This illustrates that even the performance trims of the C-Class see heavy depreciation; within our data, these cars have seen their average value drop 7 percent since January 2021.

Audi and Cadillac are the best of the rest as far as popularity, at 10 percent and 9 percent of inquiries, respectively, with all other brands at or below 5 percent. That the Cadillac’s value tops the list is likely influenced by strong values for its V models. The inclusion of the first- and second-gen CTS means it’s the model with the newest (at 10 years old) vehicles within the data set.

As we have covered in some notable sales, Saabs are on the rise. The Saab 9-3 makes up a small portion of the collector sports sedan market, but the values for ones we are seeing are increasing. Since January 2021, they are up 26 percent.

Jaguar’s results are a mixed bag, with the more traditional and larger XJR seeing a 10 percent bump in average quoted value over the last three years, while its smaller S-Type and S-Type R are treading water with 1 percent decrease over the same time period. Like the Cadillac, the XJR is on the heftier side of cars in this group, but sports sedans mean different things to different buyers, and the last of the old-design big cats certainly has enthusiast appeal.

Similarly, while Supras, Integras, and other sporty nameplates have skyrocketed, Japanese sports sedans have been met with varied interest from today’s enthusiasts. Quoted values of the Acura TL and Lexus IS300 are both up, but the Infiniti G35 and G37 have receded dramatically, to the point where the average value of a first-generation Miata is higher than that of a G35.

To an extent, these quoted values reflect the quality and condition of the cars coming to market, but they also demonstrate that there’s ample opportunity to get into a car with personality and practicality at a relatively reasonable price. As ’90s sports cars get snatched up by folks looking for a taste of the last “analog” era, these sports sedans are likely to get more attention. Regardless of the degree of sport you prefer in your four-door, this segment has something that fits your needs, and at a lower price than other collector cars of the era. For now.

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Via Insider

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Sometimes a car crosses your path that you’d completely forgotten about. One glance is all it takes to conjure fond memories and prompt a fresh round of internet searching to brush up on its spec sheet and illustrious history. Such was the case for me when Insider editor-in-chief Brian Rabold shared this 5600-mile 2002 Panoz Esperante S JRD Roadster, which sold this week on Cars and Bids for $56,691, including fees.

I first encountered the Panoz name while watching sports car racing in the late ’90s, and by playing a PC racing game called Sports Car GT, which included the monstrous front-mid-engined Panoz GTR-1. Long successful in business, the family was just hitting its automotive stride by the turn of the century. Their ambitious creation of the American Le Mans Series gave American sports car racing fans hope, and the Panoz class win at Le Mans in an Esperante GTLM in 2006 forged an amazing underdog story. All the while, the family was operating a boutique car company, too.

Running a racing league during challenging times and getting a small car company off the ground are not small undertakings on their own, but family patriarch Don Panoz was heavily involved with, and successful at, both. His son, Dan, headed up the street car effort and set out to create limited-production vehicles that could tangle with the best the world had to offer and serve as the foundation for Panoz race cars.

The Esperante was Panoz’s second offering, following the Roadster, a cycle-fendered topless sports car that looked a bit like the lovechild of a Cobra and a Caterham 7. Debuting in 2000 and coming to market the following year, the Esperante was a good bit more civilized.

Comprised of multiple substructures bolted and bonded together, the Esperante’s chassis made extensive use of aluminum and carbon fiber. Wearing a voluptuous aluminum body, the car weighed around 3200 lbs, similar to a Corvette of the same vintage.

A small shop designed to turn out dozens rather than thousands of cars in a given year realistically needs to rely on sourcing components, and the Esperante received its drivetrain from the Ford SVT Mustang Cobra (later cars could also be had with a variety of GM LS engines). This included a dual overhead cam 4.6-liter V-8 (specced to 350 hp in this example), five-speed manual transmission, and independent rear suspension. That IRS was a bit of a compromise from the get-go, being designed by an aftermarket supplier to fit the Mustang’s stick axle rear suspension mounting points. As a result, Panoz made some tweaks of their own, including trick cantilever coilover shocks mounted horizontally, and revised control arms on later cars.

The Esperante was met with a healthy reception. Reviewers in-period lauded the car’s sporty-yet-comfortable characteristics and even the build quality—a rare achievement for small-scale manufacturers.

Production numbers vary depending on the source, though 234 is the most oft-quoted number for the 2001-07 first generation. Only a handful of coupes were produced for homologation purposes.

This low-mileage example is mildly modified by JRD, a tuner who offered a variety of upgrade packages for Panoz. Aside from some minor blemishes and worn weatherstripping, the car presents quite well, and with a proven, mass-market drivetrain underneath, there’s not much concern for future reliability.

What to think, then, about its $56k price? A C5 Corvette convertible can match the performance for half the money, but that misses the point. If you’re chasing an Esperante, there’s probably as much allure in the Panoz story and this car’s ties to racing as the car itself. Plus, you’re likely to be the only person pulling up in one at your local cars and caffeine.

This sale falls in the middle-upper range of Hagerty’s average quote values for these cars, which range from $40K to $60K. That makes sense—it’s an early car with a few minor defects, but it does feature some nice and rare tweaks. Newer Esperantes can command substantially more, but they are also a lot more car, often coming with close to 600 hp. The record for the model was set in 2021, when a 2015 Esperante Spyder GT with a GM LSA engine sold on PCarMarket for $195,000, inclusive of fees.

Quotes for the Esperante have grown slowly the past couple of years, but Hagerty still only issues around one new policy a month. Nearly 90% of those policies go to older enthusiasts, although 2023 found more Gen Xers showing interest in the Esperante. It may well be the best-kept American V-8 manual sports car secret out there.

A rare, engaging, and comfortable sports car, built by a family who deeply loves cars and racing. How could I have forgotten the Esperante? If you didn’t know about Panoz, this car just gave you some homework.

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It’s one thing to look at your car’s gauges to get a feel for how it’s operating. Sometimes, though, you need a more seat-of-the-pants take. If you’re really in tune with your ride, you can tell by subtle vibrations or additional pitch through a corner that something’s amiss. A similar scenario plays out for reading the market here at Insider: we have our trusty metrics and data, but we also like to check with industry pros to get a more direct feel for how it’s handling.

A short 30 days after Monterey, our market meter has swung upward again. It didn’t feel quite the same as other recent spikes, though. We reached out to some individuals to get their take on where the market stands, takeaways from the California auctions, and emerging trends. Here are their thoughts.

The world doesn’t end very often

“There was a whiff of caution in the air, and that’s why I liked it,” Mark Hyman, Founder of Hyman Ltd Classic Cars, said of Monterey. “The market went from irrational exuberance in 2021 to solid, rational demand over the course of this year, and you saw that at last month’s auctions.” He went further to emphasize that while lingering macroeconomic storm clouds continue to demand vigilance, he believes the market has reached a point of stability for now. “The world doesn’t end very often…there’s still a tremendous amount of demand, interest, and money in the market.”

Zac Beatty, Director of Auction Operations and Customer Experience at Bring a Trailer, agreed: “the market as a whole remains strong from the perspective of both volume of cars transacting and the dollar amounts where they are selling.” He added that volume is up 30% year over year for the popular auction site while sales rates across 700 vehicles per week is only down 5%. “That said, it’s fair to say segments of the market are exhaling a bit from what we have seen as a huge run up over the past two years. Not every three-digit mileage first-gen Ford GT is a half a million dollar car today and not every Porsche with an RS badge on the back that comes to market is establishing a new record, but the bottom certainly isn’t falling out of those markets either and glass half-full types still see how much higher these cars are transacting from just a couple years ago.”

“It’s a more rational time than 2021,” agreed Derek Tam-Scott, of Issimi. “Folks using stock or crypto revenue to buy cars are being more conservative, but the top of the market remains very healthy. It’s not like 2009 or 2017 when great cars weren’t moving. If it’s a great car, it’s almost certainly going to sell.

“Monterey addressed the question of whether we are at an inflection point, and it said, ‘nope, we’re strong.’” Honing in, he added, “if you look to Ferraris as an example, F40s were very strong, while the 330 GTC was healthy but not as robust, and that’s a demographic shift.”

Demographic shift

We’ve covered the rise of the analog supercar and some the demographics behind it but rising F40 values and the increasing popularity of Japanese Domestic Market stars are just the beginning of an evolution of the hobby. Some trends are clear, but others may require more time before there’s consensus.

None of the pros we talked to disputed an element that we all love to hear: more and more people who buy classics want to put them to use. “A lot of people are buying cars for events,” said Hyman. “It’s a cool social scene and you need a toy to play the game, whether it’s the concours circuit, Mille Miglia, or the Colorado Grand.”

Brian Jannusch, the Sales Director at Toprank Importers, highlighted that for the JDM cars they import, part of the appeal is the approachability of a 25-35 year old car: “buyers see a Skyline and think, ‘I can figure out how to work on this thing.’” Jannusch also said he sees quite a few purchases that help bring generations together, offering an example of a father with a substantial Ferrari collection picking up some JDM classics for his two sons. “He doesn’t get the enthusiasm for Japanese cars,” Jannusch said, “but he’s glad they’re into cars and enjoys sharing that with them.”

Where the two camps diverged, however, was what evolving demographics meant for different types of cars. “I see a lot of younger people buying older cars, which is awesome,” shared Hyman, who noted that the 35-45 year olds who’ve bought Bugattis or Deusenbergs from him are typically interested in concours or having an interesting vehicle to share with their friends. “The best of the best will stay valuable,” he said, both in context of overall market forces and influences of new generations on older car values.

Beatty had a similar take. “It’s common for some to say that 1950s and 1960s cars are on the decline and while I’m generally one to brush off any broad generalizations, the stability in both sale rate and dollar values of this segment was pleasantly surprising to me this year,” he said. “Carroll Shelby’s ’55 Ferrari 410 Sport Spider was the most expensive car sold by a wide margin, showing that the blue-chip best stuff will always hold their value and soar above the rest of the market. Lancia Aurelias in their various forms, Duesenberg Model Js, Graham Hollywoods – ’50s sports cars, stately pre-war cars, and everything in between seemed to be selling strong from my perspective.”

John Temerian, Co-Founder of Curated, a sales and classic car purchase consulting business whose primary focus is 80s and 90s supercars, sees the market in a pivot. “There will always be buyers for the iconic automobiles of the 1950s and 1960s, but the demand has clearly changed. I do believe that many of today’s buyers are new to the market. They are a younger generation than ever: collectors age 35-55 with five, 15, even 50 cars.” He added that these new buyers are confident about the values of the cars from the 80s and 90s that they’re gravitating toward.

Jannusch agreed. “The age of collectors is dropping,” he said. “I frequently hear things along the lines of, ‘I inherited this GTO Judge from my dad and I don’t want it. I’d like to swap it for something that resonates with me.’ As Boomers age out of the hobby, we will see a consolidation. You’ll even see some blue-chip cars dropping a bit. The further you get from a particular era of car, the next generation is a little less interested in owning them.” For instance, Jannusch sees an increasingly finite market for prewar cars: “there used to be buyers galore for those cars,” he said, “but people are starting to ask themselves, ‘who am I going to sell this to down the road?’”

The answer to that question may be simple: an enthusiast. This answer splits the baby somewhat. Jannusch is right in that once no one has a personal tie to a car or an era, there are fewer reasons to prop up values, and the audience shrinks that much more. Hyman’s take, on the other hand, that meaningful cars will always have a place in the pantheon makes sense—it just might take a little more time and effort to place the right car with the right buyer.

Evolutions, revolutions 

Influences on the current marketplace have ushered in a variety of changes for how classics are bought and sold. Some, like online auctions, have been revolutionary, and have in turn begun to impact traditional sales venues. Others are more evolutionary, like the gradual pace of enthusiasts pursuing more vehicles on a global scale.

Tam-Scott highlighted what the broader marketplace means for traditional events: “The product mix this year at Monterey is so different than it was ten years ago. The auction houses are changing their offerings to align more closely with consumer demands. They’ve done a good job of adapting. To continue using Porsches as an example, for a while even special models were under $100,000 and not worth it for auction houses, but now they have proven otherwise, and we saw quite a few cross the block rather successfully last month.”

Just as online auctions have made people comfortable with making a significant purchase from their couch, so too has the internet expanded a buyer’s willingness to reach out to other geographies for the right car. “We’re seeing so many more people start to look at other parts of the world for inventory,” said Jannusch. “What we want to do is become a global car dealer,” he said, adding that Toprank is building the infrastructure to seamlessly inspect, import, and certify vehicles from all over the world in a one-stop-shop experience.

Buying and selling, buyers and sellers

With this year’s market move toward sanity from 2021, these pros have taken steps to adapt and noticed a few patterns along the way.

“We were cautious this spring, but not concerned, so we have a strong inventory right now,” said Hyman. “We had huge inventory in 2021 and started selling cars like crazy. This year, given the bigger picture, we throttled back slightly—nothing’s this good forever. It’s remained strong, though, and on a normal, non-2021 level, it’s been a fabulous year.”

Issimi’s business model is different, but still required an adjustment according to Tam-Scott. “For consignment, it’s about pricing the car in a way that it doesn’t sit around. It’s a more rational market, so buyers can afford to wait. When there’s an imbalance like that it can be a little harder, but ultimately I think it’s a healthy market.”

“BaT is always evolving with the market as a whole and our community’s interests,” said Beatty. “I can’t say we envisioned selling six-figure Telsa Roadsters (and electric F-150 Lightingings for that matter) back in 2014, but the demand for EVs is clearly present and we’re witnessing the rise of a new crop of enthusiasts along with it. We love fostering that enthusiasm in our marketplace.”

Conversations with sellers have evolved, too. Generally, these are savvy folks—it’s not the “I know what I’ve got” syndrome that became a meme in 2021. Still, Tam-Scott says he encourages those selling via Issimi to be responsive to the market. Nine-month-old comps no longer hold weight, and his team works to highlight as many recent data points as possible rather than focusing on single, potential outlier sales.

Beatty added that Bring a Trailer similarly works to manage expectations: “trees don’t grow to the sky, so we’re always mindful of setting sober reserves that are hopefully in line with constantly fluctuating market conditions.”

When asked whether the pace of consignors has slowed, Tam-Scott indicated it remained robust: “we have a lot of active clients who are moving through the market regardless of the overall economic outlook. We had issues with consignment volumes when the market was insane, but now because of the dynamic of cars not flying off the shelf by default and selling taking more effort, we see more cars coming in. We’re in a better position of having good cars because it’s a little more of a buyer’s market.”

Temerian indicated that buyers are engaged and chasing what they love: “most of the buyers today are motivated by passion—they want to learn, they want more knowledge. They are chasing the cars of their childhood in the most iconic colors, with the wildest history,” he said. “One of the Miami Vice Testarossa examples barely sold at auction five or six years ago. Today? I could sell the car 20 times over. It’s exciting to me that the buyers today are knowledgeable.”

While most buyers continue to be enthusiasts, Hyman noted the market uptick has brought a few more investment-oriented buyers to his door. “People ask what they should buy for investment. I tell them I don’t know—I’m not a financial planner. If I sell you this car and you love it, you won’t sell it. Up or down. You should buy because you’re passionate about it.” He added: “I won’t tell you I don’t pay attention to market forces—I do—but I’m in this because it’s my passion. I try to say the same thing to my clientele.”

Temerian agrees, and highlights that buyers know they can enjoy the investment while their money is parked in it. “While passion is the driving force, the investment aspect definitely crosses everyone’s mind. It is nice to know that you are buying something that has the potential to go up in value over the next 6-10 years, or at least not lose value. I hate to give financial advice, that’s not my goal. I love to share my passion and express what cars seem or feel undervalued.”

To this mix, Jannusch added a new layer: the crossover buyer. No, not soccer moms in lifted wagons. Rather, he means enthusiasts coming over from one brand to another. “Probably 75% of recent buyers who pick up a R32 or R33 Skyline GT-R from us also own a 911. What’s that rooted in? They’re curious about the other side. They hear the Skyline is a true driver’s car. That’s the same language that Porsche uses. People who own 911s love to tell you that they actually drive the car. Skylines have a massive race history, and Porsche guys love that. Those two so closely follow each other—both have an incredible amount of rare color and spec options. The more we see Porsche guys validating and driving Skylines, the more status they’ll gain, and that will continue to push prices.”

That push in prices has caused Toprank’s buyers to change over time. “Before we started Toprank, and when we were a smaller importer,” Jannusch said, “our primary buyer was a guy who drove a Nissan 240SX that saved up $10,000 to buy a GT-R. When we saw values go up to $25-40,000, we saw R35 GT-R owners come in to import a second car. Now, our typical buyer falls into one of three categories: first, they want one dream car and are willing to pay a lot for the nicest example they can afford. Second, they’re the collector that remembers when Porsche 993 Turbo prices were here and they want to buy now, and third: the massive collector who is cultivating interest in the car hobby with their child.

Crossing the threshold

Another area of consensus was the impact of a potential slow-down: perhaps unsurprisingly, all felt the top of the market was most insulated from a future downturn, and that less-significant cars would feel any potential brunt first. When asked if the collector car hobby is evolving into an art-world-style, permanently expensive market, each respondent pulled at a similar thread.

“I think that the cars that could potentially take this trajectory are the ones that are important and have had meaningful, lasting impact in the car hobby,” said Hyman.

“It’s a generational thing, I think,” said Jannusch. “If you give me a massive amount of money to buy a painting, am I going to buy a Degas or a Warhol? I’d rather have a Warhol because it’s more relevant to me. That said, some artists like Van Gogh remain relevant because the innovative, immersive exhibits help keep his paintings fresh for younger people. The definition of what art people are willing to buy is the same as with cars: you have to have an attachment.”

Temerian offered another perspective on younger buyers as it relates to the art question: “these cars represent the next generation’s version of art. They are a symbol of culture, technological advances and many times tell the story of a designer, engineer or visionary who changed the world. The cars are usable art—they provide access to an amazing social world, filled with activities and camaraderie.”

Tam-Scott’s response suggested a pantheon of cars that is gaining, and occasionally losing, models. “I think there are certainly things that won’t come down for decades—these are cars that transcend demographic shifts. The 300SL’s sales history has demonstrated this. The Muira, as the origin of a type, fits in this conversation. F40s now belong here as well. Others will come down eventually: ’57 Thunderbirds are not that relevant to a new generation. To make a statement about the car market becoming like the art market, you need to segment collector cars more specifically.”

“The parallel with art is interesting, though,” he continued. “A car will cross over this gap. Once you cross that threshold you start paying for something other than what the car is itself, and there’s enough people who want it that it will never come down.”

Beatty offered the reminder we all appreciate—even if a car’s achieved “art” status, its use is what sets it apart. “I’m sure it’s delightful to look at your Jackson Pollock or wear your Newman Daytona to the bar, but with the automotive market you get the benefit of the experiential aspect behind the wheel in addition to the investment component. It’s really the best of both worlds. Much like art or watches, cars are purchased out of passion for the hobby, but cars have utility and offer experience in a way that few other investments do.”

That’s a wrap

Throughout his interview, Hyman offered a bit of levity in the face of market- and valuation-based questioning. His final take was a good reminder for all of us: “I tend to be pretty conservative about the marketplace,” he said. “There are segments that I think are overheated, but there’s so much interest, momentum, and committed people in this hobby that there’s nothing to worry about overall. Metrics and values are important, but they’re tertiary as to why we’re in this hobby. Number one is passion: demand and values are two and three. None of us are buying vintage cars because we need them or because they’re how we get to work. We’re buying them for one reason: passion. That’s what we need to focus on.”

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Peter Mullin, renowned collector of French automobiles, founder of the Mullin Automotive Museum, friend to many, and longtime visionary within the automotive hobby, passed away on September 18, 2023. He was 82.

“The car world lost a great man,” said McKeel Hagerty, CEO of Hagerty. “I knew Peter Mullin by reputation long before I got to learn directly about the many layers of his generosity, sophistication, and connoisseurship. While building a wide-ranging business empire, he built one of the world’s greatest French car collections and an exquisite private car museum in Oxnard, California. He was widely known for his philanthropic work inside and outside of the U.S. As chairman of the board of the Petersen Automotive Museum in Los Angeles, he was the godfather of the design and renovations that launched the museum onto the world stage as one of the leading cultural celebrations of the automobile. And while we’ll miss him, his legacy will live on for a long, long time. Our condolences go out to his lovely wife Merle and their family.”

Growing up in the hot rod haven of Los Angeles and cultivated by attending car shows with his father, Peter Mullin’s passion for cars didn’t take long to emerge. But his love of French cars in particular—something for which he’d become known the world over—famously started with a note from a neighbor.

“An architect who lived in a lovely craftsman house up the street left a note in our mailbox asking if he could use our Georgian colonial as the backdrop for a photoshoot of a car,” Peter’s wife Merle shared with me in an interview this past spring. “Peter said, ‘Why not,’ and come Saturday morning, this beautiful green postwar Delahaye rolls up. It was love at first sight for Peter, and he got infected right then and there.”

Merle went on to describe her husband as a natural student with incredible curiosity, especially for industrial objects and automobiles of the art deco era. “He started delving into that period of time and became fascinated with the pre-World War II era, when cars were bespoke sculptural beauties.”

Soon he began accumulating notable French automobiles. “Peter wasn’t afraid to restore a car—to bring some of the finest French cars ever back to life and give them vitality,” said Richard Adatto, board member at the Mullin Automotive Museum, judge at the annual Pebble Beach Concours d’Elegance, and an expert on French aerodynamic cars. “He wasn’t afraid to drive them fast, either, and he especially loved showing his cars so others could enjoy them.”

That desire to share these rolling works of art led Mullin to create the Mullin Automotive Museum. What had become one of the most stunning private collections of French cars, along with art deco furniture and art, opened to the public in Oxnard, California, in 2010. “So much of what Peter did was designed to share his curiosity, interests, and good fortune with others. Peter possessed an exceptional intellect, an infectious sense of humor, a passion for people, for innovation, for cars, and for beauty,” said Andrew Reilly, the former deputy director and chief curator of the Mullin Automotive Museum.

As a result, the Mullin Automotive Museum has become home to one-of-a-kind exhibits that tell a story. Like the “Lady of the Lake,” a 1925 Bugatti Type 22 Brescia Roadster rescued from the depths of Italy’s Lake Maggiore after being submerged for more than 70 years. Or a collection of artwork, furniture, musical instruments, and other items designed and created by Carlo Bugatti that accent the largest private collection of Ettore and Jean Bugatti automobiles in the world. The museum is anchored by the cars but serves as a thorough, engaging monument to the design period that Mullin held so dear.

“Peter’s great role was intellectual in the sense that he pulled together this collection of cars with French coach work that would be as close to definitive, I think, as could practicably be done in this world,” said Miles Collier, founder of Florida’s non-profit Revs Institute. “What Peter did is a significant intellectual accomplishment because when we look to have opinions about French coach builders, the ability to synoptically view them is most easily achieved within his collection.”

With the restoration of Delahayes, Bugattis, Voisins, and others, Mullin became deeply involved in the concours and collector community. “Peter began to collect and share cars at the Pebble Beach Concours in 1984, just a year prior to the time I began to play a role in organizing that event,” said Sandra Button, chairperson of the Pebble Beach Concours d’Elegance. “In many ways, we grew into the car world together. Our paths often crossed or ran parallel to each other, and we compared thoughts. Over time, Peter and Merle, Martin [Button, her husband] and I became great friends.

Peter was a visionary—with the imagination needed to foresee a great future, the wisdom to plan for it, the skills and resources to begin to build it, and the connections and leadership to draw others into his plans. He was a grand thinker. He also did all he could to bring great cars and car people together.”

Collier shared similar sentiment. “He represents the complete collector—when you think about it as somebody with broad knowledge, somebody with perfect taste, somebody with great depth of focus in a particular area. Someone who is deliberate in the way they collect, and somebody who is welcoming of colleagues. There you go. Peter was the complete collector. That’s not such a simple accomplishment, either. He did things with such grace that everybody thought it was easy.”

Nic Waller, executive director of the Audrain Newport Concours, agreed, and added that Mullin approached everything from the heart: “I was new to the American collecting game in 2006, and Peter Mullin was the first collector I interviewed. He was just so helpful and easy to get along with, and we eventually became firm friends,” said Waller. “Everything he did was in an effort to share the love of cars.”

This extended beyond his museum and the concours lawn. During Mullin’s tenure as chairman of the Petersen Automotive Museum’s board, he spearheaded the Petersen’s renovation effort, helping the museum though a challenging time and yielding a dramatic architectural centerpiece to the Los Angeles car hobby.

Peter’s myriad interests—education, music, viticulture, hydroponics, the list goes on—informed his philanthropy. He served on 22 boards and donated to numerous organizations, including to the ArtCenter College of Design, where the Mullin Transportation Design Center is expected to begin programming next spring.

Mullin’s legacy lives on through his philanthropy, his museum, and the cars that continue to be shown around the world. It also carries on with the Mullin Oxfordshire, a proposed facility in the United Kingdom designed to exhibit collector cars, as well as put them to use on an on-premise circuit.

“Peter was a lifelong learner, innovator, and an inspiration and a mentor to me, and I’ll miss him greatly,” said Reilly. “With Peter’s passing, the collector car world has lost one of its greatest champions.”

Waller echoed that sentiment: “Though his impact will continue, his passing leaves a huge hole in our community. There will never be another one like him.”

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Last spring, I found myself sitting in the Palace Restaurant and Saloon in Prescott, Arizona, a haunt of Doc Holliday and Wyatt Earp before they headed to Tombstone. Across the table from me was Dirk Häcker, Head of Development for BMW M.

I’d just emerged from a couple hours behind the wheel of the new XM SUV, BMW’s clear assertion of where the M brand is headed. Naturally, I was eager to talk about the other vehicle on the test drive, BMW M’s spiritual torch-bearer, the new M2.

Häcker’s eyes lit up. The man, who’s spent decades with BMW and is an eight-year veteran of the M division immediately shared that when he got home, he was taking delivery of an M2 in Zandvoort Blue. With a manual, of course—Häcker is a driver of the old school as much as he is an engineer. Respect.

His boss, CEO of BMW M Frank van Meel, had a bit of a different take on manuals in a recent interview with CarThrottle in the U.K.: “we had a lot of customers that said, well, I want to ride the beast and I want to show that I can do that and I need a manual transmission.” Shots fired.

The quip was van Meel’s response to a question as to why BMW elected to charge U.K. consumers for the manual transmission rather than the more complex, and typically more costly, automatic. “The manual is slower and results in a higher fuel consumption [and] sometimes has also a lower top speed,” he said, “so the manual actually from an engineering standpoint made no real sense anymore.” Additional production complexity of having to produce two transmissions also plays a role, said CarThrottle. And, for BMW, van Meel added, “it’s more like a heritage thing.”

These words are another reminder of how the brand’s reputation as Ultimate Driving Machine has evolved. Evidently, despite the reduction in raw performance, a strong portion of American M2 buyers, others across the globe, and even van Meel’s top engineer are very much into “heritage.” Who wouldn’t want to “ride the beast,” anyway?

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You probably remember the “Not your father’s Oldsmobile” ads that debuted in 1988 in an attempt to promote the company’s updated front-wheel drive lineup and turn around a precipitous drop in sales. Even as a school-age kid, those 30-second spots fell flat for me. I understood that the sleek new W-body Cutlass was more advanced than my grandma’s late ’70s rusty brown car of the same name, but not my father’s Oldsmobile? Yes, these new cars were the antithesis of muscle, but the ground-pounding 4-4-2s and the occasional Hurst/Olds my dad would go out of his way to steer me toward at car shows were glorious. Why would a company would want to distance themselves from that? If anything, those cars were peak Oldsmobile.

Decades later, we know how well those ads worked. Olds is gone, and for many younger buyers, the name might as well be Studebaker or even Mercer—they just don’t see many classic Oldsmobiles, so it would be easy to consider the brand a dusty relic without fun or interesting models to enjoy.

This is, of course, quite wrong. Oldsmobile’s effort in the muscle car era yielded several eye-catching and entertaining alternatives to the Chevy/Ford/Dodge contingent, and they stand out even today.

1969 Hurst/Olds

Sixties muscle car lore has no shortage of end-around stories—processes that enabled some truly fast and fun cars to come to life despite corporate edicts and other efforts to stymie the horsepower wars. Chevy’s COPO cars are perhaps the most notorious, but the Hurst/Olds deserves a special mention.

George Hurst had an idea. An inveterate hot rodder and creator of the shifter that bore his name, Hurst had established a strong relationship with GM in the early ’60s. In 1967, he approached Pontiac with a plan to get around the corporate ban on engine sizes of greater than 400 cubic inches in mid-size and smaller platforms: Hurst would install the Poncho 428-cubic inch V-8 into completed Firebirds and Pontiac would sell them at their dealerships. While conversations did make it up the ladder with some enthusiasm, the Pontiac deal fell short. Instead, Hurst was pointed to another GM brand that might have interest: Oldsmobile.

This time, the effort gained traction. Oldsmobile dearly wanted to update its image and drive sales of their 4-4-2, which was capable on the street but paled in comparison to Pontiac’s GTO on the sales charts. A Hurst/Olds halo car, with its engine bay filled with the new Oldsmobile 455-cubic inch V-8 while all the other mid-sized cars had to make do with GM’s 400-cube limit, appealed to Oldsmobile chief engineer John Beltz. Ultimately, even with the edict in place, the bigger engines were installed by Oldsmobile itself before the cars were delivered to Hurst for further modification.

The Hurst/Olds debuted in 1968, but the 1969 model is more broadly remembered thanks to its more overt Firefrost Gold over Cameo white paint scheme and mailbox hood scoops wearing “H/O 455” in large gold lettering.

At 380 horsepower and an even 500 lb-ft of torque, the 455 in the ’69 Hurst/Olds didn’t disappoint, though it had 10 hp less than the non-AC models from 1968. Zero-to-60 took a brisk 6 seconds and the quarter mile went by in 14—not the top of the muscle car heap, but still plenty quick. The only option for shifting was the TH-400 three-speed automatic topped with, you guessed it, a Hurst shifter that had the standard pattern along with another gate that enabled shifting through the forward gears without the possibility of engaging park or reverse.

In addition to the engine, hood scoop, shifter, and hallmark color scheme, a large rear wing, special door mirrors, grey 15×7-inch wheels, Hurst/Olds emblems, and a registration dash plaque (provided when the original buyers sent in their information) completed the package. According to the Hurst/Olds Club of America, 906 ’69 Hurst/Olds were made, all of which were coupes except for three convertibles used by Hurst for promotional activity (other sources put that number at two).

Unlike many muscle cars, the Hurst/Olds did not see a value bump during the pandemic. It did, however, begin to see its values drop as the market began to cool in 2022. A #2 excellent condition car is valued at $63,500, while a #3 car comes in at $46,600, which sounds affordable compared with other rare muscle with similarly interesting history. Hagerty Price Guide editor Greg Ingold elaborates:

“The main downside is that they’re all equipped with automatics, which might be a detractor to non-Oldsmobile enthusiasts. Couple that with the fact that when Hurst/Olds come up for sale, they’re not often in show condition—a lot are driver-quality cars. That may drag the average down somewhat.”

1970 4-4-2 W-30

What a difference a year makes. The brass at GM finally decided to lift its engine displacement limitations for the 1970 model year, and suddenly Olds didn’t need the Hurst side door operation to fit the 455 into its A-body muscle car—it was now standard in the 4-4-2. As a result, the Hurst/Olds was shelved and the 4-4-2 with the W-30 package became the top dog with a healthy 370 horses and 500 lb-ft of torque, just shy of the the Hurst/Olds’ 380. Hurst wasn’t completely missing from the picture—buyers who opted for the TH 400 automatic got the dual-gate shifter (a heavy duty four-speed manual was also available).

The W-30 package consisted of quite a few engine tweaks given the five-horse advantage it held over the base 455—different heads, an aluminum intake manifold, and a unique camshaft were the primary changes. Though these engines didn’t wind out the tach, torque is the Olds 455’s calling card, and it had plenty of it.

Other elements of the package include a dual-scoop fiberglass hood that leads air to a vacuum-actuated opening to the air cleaner, front disc brakes, and its handsome appearance elements. Though a cheaper car than the Hurst/Olds when new, the W-30 only fared nominally better than the Hurst/Olds in the sales department. 3100 ’70 W-30s were sold across three body styles, with only 264 convertibles produced.

Today, despite the greater number of cars, lower horsepower rating, and less tantalizing backstory, the ’70 W-30 holds a commanding value advantage over the Hurst/Olds—#2 W-30s are almost 40 grand more expensive at $103,000, and good-condition driver values are just under $75,000. The W-30 enjoyed a dramatic bump during the pandemic, with #2 values cresting $130,000 in July of 2022 before settling just above pre-pandemic values in the last Price Guide.

1970 Cutlass Rallye 350

An outgrowth of the Hurst program though it was built in-house, the Cutlass Rallye 350 offered all the show (and then some) along with a portion of the go of its more muscular siblings. Debuting in 1970 and lasting only that model year, it’s not an overstatement to say that the Rallye 350 is one of most visually distinctive Oldsmobiles ever produced.

Even for the rainbow-hued colorful peak of the muscle car era, the Cutlass Rallye 350 wore a lot of yellow. The bumpers, typically chrome-plated, were instead urethane-coated and slathered in the same Sebring Yellow as the body, and the wheels eschewed the usual chrome trim rings for full effect. Shiny bits trimmed the glass and grille, and strokes of black decals along its flanks and hood scoops added definition to the car’s lines—those are the only concessions to the car’s otherwise completely sunny disposition.

As attention-getting as its exterior was, the Rallye 350 wasn’t going to win many races, but it wasn’t a boat anchor, either. At 310 hp and 390 lb-ft of torque, the 350-cubic inch L74 engine was powerful enough to ensure that buyers wouldn’t be embarrassed on the street while also avoiding big-block-level insurance premiums. Transmission options included three- and four-speed manuals as well as the Turbo Hydra-Matic 350 three-speed automatic, and the differential had optional “Anti-Spin,” Olds’ term for limited slip, and 3.23-, 3.42-, or 3.91:1 gear sets. Optimally set up, the Rallye 350 would find 60 in seven seconds and run the quarter in the low 15-second range.

Whether buyers weren’t sure what to do with such a flashy car from a typically staid company, or there was a lack of understanding of how to promote this mid-range muscle car, the Rallye 350 didn’t fare well on the sales floor—only 3547 units were produced. Modern buyers can expect to pay about 50 grand for an excellent example, while a good driver can be had for under $35,000. The Rallye 350 saw a significant bump in value in 2021 and has remained stable since then.

It turns out that I may not have been the only one who had a family member who shared with them how cool these cars could be. Millennials are showing interest in their father’s (or is it their grandfather’s?) Oldsmobiles, with a significant 22 percent share among Cutlass buyer (the Rallye 350 is categorized with the Cutlass). That their portion of 4-4-2 ownership is slightly less makes sense given that car’s higher values. Gen X represents about a third of Cutlass and 4-4-2 buyers, while boomers continue to hold strong in both. Though values are flat for the Rallye 350 and trending down for the Hurst/Olds and ’70 W-30, interest among younger buyers appears to be significant enough to suggest that Olds muscle will continue to remain a popular, if slightly niche, alternative option in the segment.

Oldsmobile struggled with its image, on and off, for decades. From performance V-8 trailblazer in the ’50s, to a reputation as an old person’s car in the ’60s before these A-body muscle cars arrived, to a sales leader, to an old person’s car yet again before its death as a brand in 2004, the company nonetheless did have some great and characterful efforts. The Hurst/Olds, W-30, and Rallye 350 represented a shining moment for the brand. Which of these three would you pick?

***

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If there’s one inescapable discussion that accompanies any collector vehicle, it’s the degree of its originality and authenticity. Walk through any auction tent or concours and you’ll hear healthy banter about provenance and varying levels of restoration. The topic is often more than idle chat between enthusiasts, though—when it comes to undertaking a truly authentic restoration or making a seven-plus figure purchase, the stakes are much higher. Enter the very specific, detailed world of vehicle authentication and forensics.

This behind-the-scenes work rarely commands attention, and understandably so—vehicle analysis is performed via private consultation, often ahead of a potential transaction. We were curious to better understand the process so we reached out to an industry professional to learn more.

Chris Kramer wears a lot of hats. Headquartered in Cologne, Germany, you can find him working across the globe as a concours judge, automotive historian, marque expert, restoration supervisor, and vehicle evaluator. Specializing in Mercedes-Benz, Porsche, and other German, Italian, French, and British brands, Kramer’s amassed decades of time analyzing and documenting high-end collector vehicles.

That Kramer extends his work to a variety of facets in the industry also says something about the activity of authentication itself: it’s much more than simply determining whether a car is real or a forgery, or if the car has been properly represented by a seller. As with people, any car that lives long enough is bound to have stories. The evaluation process works to understand as many details of a vehicle’s story as possible, and thoroughly establishes the nature of a car at a given moment in time.

Our conversation took the methodical cadence you might expect from someone who analyzes things for a living. Kramer begins by setting the table.

Context

“Cars were basically instruments to take people from one place to another,” he says. “Of course, they had issues and needed to be repaired. In the early age of cars and even into the postwar period, nobody cared about what people would think and do 40, 50, 100 years down the road.”

Indeed, these were days when phrases like numbers matching weren’t even in the lexicon. Decades ago, the work that made a car less original was often considered a good thing. “For example,” says Kramer, “it was known that the four-cam engines on the early Porsche 356 Carreras frequently had issues and would sometimes just blow up, even with low miles, for no reason whatsoever. And when an engine was replaced, people would be happy that the Porsche warranty card would note the date of the repair and what was done to the car.”

That’s one well-documented chapter in a car’s life—there are usually countless more unrecorded or poorly noted events that also add indelible impressions. Time spent aging in the elements, fender benders, personalization or restorations with parts from another car—often done with the pure intent of keeping the vehicle functional and on the road—all those moments take the car steps further from the state in which it left the factory and create more layers for authenticators to sift through.

The human element

Because of these untold numbers of variables, he articulates that this work requires extensive analytical prowess only gained by experience. He begins by highlighting the level of specialized knowledge required. “An expert is somebody with a universal knowledge,” he asserts. “I think you can only develop specialty knowledge on certain vehicles.” That includes everything from the ability to analyze factory markings the way you’d authenticate an autograph, knowledge of the how the car was assembled, and an encyclopedia of minutiae that’s on a level with—or sometimes exceeds—those who originally built these cars.

Another key human factor in this work is the need for a common language. Shared definitions enable absolutely clear understanding between the evaluator and client, and buyers and sellers. “This is fundamental,” asserts Kramer. “The car that rolls off the assembly line is the authentic vehicle and it’s original. Once it’s repaired, even if it’s just an exchange of some filters, it remains authentic but is not completely original any longer. People mix up these terms and others regularly. You need to start with definitions before you go into the forensic work so people are on the same page.”

With that shared language now in place, the client and the advisor can work together to establish an objective and set expectations.

The analysis itself

The work can now begin, and it typically kicks off with documentation. There are assurances and flags in a car’s historical records, and they help reveal any potential pitfalls or areas that will need special attention. “Where has the car been? How did the car live? Do we have gaps in the records? Do we know when the car was restored and who restored it?” Kramer rattles off a laundry list.

Against the evaluator’s knowledge of the car, the database resources available, and of course the car’s own paperwork, the car gets checked. Any identification numbers on the car will be confirmed, their locations verified. Stampings are analyzed for font and positioning—this is a prime example where a database is essential for visual reference.

In an authentication-related evaluation (vs. a restoration-driven one, which by its nature will involve invasive forensic efforts), this is about the time that things can transition to a more heavy-duty effort. “When you find something you think is fishy, you can elevate from one level to the other,” says Kramer. “You would first check the numbers. Then if you still think that there’s something wrong, then you can say, okay, we need to do a material analysis.”

Using magnetic imaging technology originally used for tracing guns that had their serial numbers filed off, authenticators can read original stampings even if new ones have been made over them. Welds are reviewed to ensure the end product could have been created with era-appropriate tools. Panel thickness is measured extensively.

If further analysis is required—for instance if the evaluation calls for an effort to determine the age of the metal—specialists are often called in. It’s generally possible to date steel to within 10-15 years of its original production via carbon analysis, though reutilization of older material appears to complicate matters. Further analysis of the metal’s composition, including for arsenic levels, can offer additional insight, especially on Prewar cars.

In order to analyze a vehicle’s paint, a small sample is taken from a hidden place. That sample is then subjected to a variety of tests and compared to existing data. The layers of material are analyzed and delineated, and ultimately help more completely articulate the car’s history.

These examples barely skim the surface of the effort performed by folks like Kramer and the analysts he works with, and by larger organizations like Mercedes Classic. It’s an intensive process can take a significant amount of time, and no small amount of money, too.

Peace of mind

The collector car market continues to grow, and though prices have cooled of late, there’s no shortage of expensive, rare cars and new buyers entering the market. Knowledge is king, and a detailed understanding of the provenance of a potential purchase can put a much finer point on what it’s worth.

From a restoration perspective, at least for those concerned with authenticity, a forensic deep dive is a critical step in ascertaining how to move forward with the work.

Then there is the occasional surfacing of counterfeit cars. No one wants to spend big money on something only to find that another car with the same identification number is already registered to someone else. It’s a rare occurrence, and there’s no sure-fire way to guarantee a fake won’t successfully slip into the market, but fortunately, buyers have preventative measures.

We frequently encourage those in the hobby to do their own research before hopping into the market. Sometimes, though a genuine, authentic professional is the best bet.

***

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“You should drive these two—you’d be surprised how much they have in common.”

I ogled Rocky Yusi’s 2004 Ram SRT-10 and his dad Rick’s ’03 Viper SRT-10 parked next to it, their mirror-like black finishes reflecting the longing in my face.

Sure, the two share one of the coolest drivetrains of the last 30 years, but just how much overlap does that create between a burly sports car and a muscle truck? That was my initial thought, followed immediately by another: Never you mind, Eddy. That’s an offer you don’t need to hear twice.

The Yusis have shared their love of cars for over 40 years, beginning by bonding over Sunday ice cream trips in Rick’s Corvettes back in the ’80s and ’90s. When Rocky was old enough, he joined his dad in operating Rick Yusi Automotive in Strongsville, Ohio. Rocky and I became friends after the two graciously offered two of their Corvettes for a Hagerty Drivers Club magazine feature story. He invited me over to see some of their other immaculately cared-for toys, and among some cool and classic kit, these two Mopar siblings stand out.

For good reason. Like me, Rocky came of age in the ’90s and 2000s, when the Viper brought brute-force Shelby Cobra-style performance back to American streets. As for the Ram, well, it was the baddest truck on the planet when it debuted. But what was it that brought the two together? I was about to find out.

Muscle truck

Dodge seems to have figured out better than most the sense of character that goes along with infusing cars with brawny, raw powerplants. Dropping the 500-horse 8.3-liter Viper V-10 and associated Tremec T-56 six-speed manual into a pickup in 2004 was, in hindsight, a very Dodge thing to do. There was room in the engine bay, so why not? While they were at it, they adorned the Ram with a hood, lower front fascia, and wheels that mimicked the recently-released third-gen Viper, along with aggressive lower body moldings and a rear wing. Toss in suspension improvements and some very hefty brakes, and a 154-mph supertruck was unleashed to the masses.

Rick bought the black 2003 Viper new, and when the Ram debuted a year later, Rocky saw an opportunity. “For me, the Ram was a way to get that great engine and some of the personality that makes my dad’s car so special. I was in my 20s and couldn’t afford the 80-grand sticker for the Viper, but I had saved up enough that I could pick up the Ram.” Rocky wheeled and dealed his way into a good price from a dealer south of Canton, Ohio, and brought home this gorgeous black Ram SRT-10.

Rocky tosses me the Ram keys for the first part of our evening drive down to Cuyahoga Valley National Park. I climb into the commanding, thick armchair of a driver’s seat. The high perch, low door sills, and expansive view across the muscular hood give a tall, airy feeling completely at odds with the street-driven speed demons I’m used to. I’m immediately smitten.

Palming the thick ball atop a Hurst shifter that feels three feet tall, I imagine myself within one of Ed “Big Daddy” Roth’s muscle car illustrations, with the Ram billowing tire smoke and exhaust as it rears up to launch. Reality’s not far off—the Ram’s a cartoonish brute in the best of ways. Drop the clutch, stomp on the gas, and it’s all theatrical weight transfer, earth-moving torque, and guttural roar. I pull the gigantic shifter through the long (but surprisingly precise) throw into second and grin at the tire bark and that next push into the seat. The Ram SRT-10 makes you wish for stoplights spaced just far enough apart to wind it out through the first few gears, only to slow it down and do it again.

It’s a smile machine in the great American muscle tradition, one of a long line of Dodges built because the right people said, “We can, so we should.” Which is, after all, the best reason to create anything.

Yes, it’s still a 20-year-old pickup. It flexes and shakes over bumps and undulations, and though the 305-section tires grip well, numb steering and plenty of body roll make you think twice about keeping your foot down when the roads are anything but straight. But that’s ok—there’s only so much a 5100-pound truck can do, and what it lacks in poise this rig more than makes up for in personality.

To add an ounce (actually, 7664 ounces, or 479 pounds over the Regular cab) of practicality, Dodge expanded its SRT-10 pickup offerings in 2005 with a Quad cab version. Offered in automatic only and extending the wheelbase some 20 inches (the bed retains the same dimensions as the Regular cab model), the Quad cab allowed buyers to select a hot rod V-10 pickup that could seat six and tow a Viper. The decision made sense—in addition to the truck being a hit on its own, Dodge cited significant demand from Viper owners who wanted to tow their car to the track. That said, nearly two decades on, the manual-only Regular cabs hold an edge in value. The three-model-year production run yielded 9527 Ram SRT-10s across the two body styles, with the Regular cab models making up 5533 units.

Noting this relative rarity and outlandishly wonderful drivetrain, we picked the Ram SRT-10 for our Bull Market list four years ago (2019). Its ascent preceded the pandemic, but values really started firing on all ten cylinders in 2021 and peaked in July 2022, at $71,000 for a #1 (concours) condition example. Values settled at the beginning of 2023 and have been stable since.

As you’d expect, many of these trucks have led enthusiastic lives, so be prepared to be patient if you’re looking for one as pristine as Yusi’s 8000-mile example. Values reflect the hard-to-find nature of excellent-condition vehicles—top-tier Ram SRT-10s can fetch between 50 and 60 grand, while driver-quality trucks come in at about half that.

Dodge’s 2000s muscle truck has broad interest across buyer demographics, with a quarter of insurance quotes sought coming from millennials, Gen Z making up 28 percent, and boomers still holding the lion’s share with 40 percent. Younger buyers are slowly making their way into the Ram SRT-10 market, up 3 percent over the last three years. After tonight’s drive, I understand why.

Brutish sports car

With the sun beginning to creep beneath the trees lining the hills to the west of the valley, my attention turns to the Viper. Setting aside the shared design cues, and despite the enormous platform differences, from the first few minutes in the Viper, it’s readily apparent these two are siblings—the kind that aren’t afraid to brawl to defend the Dodge family honor, even if they hit quite differently.

The unique hum and harmonics of the shared V-10 fills both vehicles with liveliness and raw urgency. When the third-gen Viper debuted in 2003, the engine got a bump to 8.3 liters (505 cubic inches) from the previous 8.0-liter unit, upping horsepower to 500 and torque to 525.

Surrounding that freshened engine is a ground-up redesign in a convertible-only platform (a coupe would eventually grace the third generation for the 2006 model year). This caused a stir among the Viper faithful, who saw some of the car’s refinements as a step away from the machismo of the original design brief. The Yusis, who came to Vipers by way of wishing that Rick’s 1990 Corvette ZR-1 had more differentiation from the base car, have a long-term ownership perspective on this. “Our ’94 R/T Viper has side curtains and the hardtop that you have to deal with,” explains Rocky. “It’s an incredible car, but the ’03 keeps everything that makes the Viper great and makes it that much more livable.” He’s right, especially by today’s standards. Arguably, though, their beautiful blue-with-white stripes ’96 GTS is the best of both worlds, but that’s a story for another day.

I open the servo-actuated, lightweight composite door and plunk myself down in the driver’s seat, carefully avoiding the still-hot sill. Before me sits a lot of plastic and some very-clearly-parts-bin HVAC and radio units, but more importantly a well-designed set of primary gauges and stack of easy-to-read auxiliary readouts. It’s a glove-like fit given the amply bolstered seats and thick center tunnel, but no one will feel claustrophobic with the top down.

Accelerating up the tight, windy pavement that exits the valley, the throat-clearing chop from the side pipes builds to a furious gargling bellow as the 345-section rear tires turn torque into forward progress. Brutal is the best word for this moment. Those sounds and that relentless push are enough to keep alive the Viper’s reputation as a beast to be wary of, all before getting to the first corner. But roll into that wonderfully firm brake pedal and position the car for the turn with the well-weighted steering, and in that moment you realize that maybe this car isn’t such a handful after all.

Despite the sensory drama, all the car’s inputs enable precise control. Power is easily and progressively meted out, and steering feel is significantly more communicative than that of a contemporary Corvette. Yes, it’s intense, but it’s also incredibly capable. If you rely purely on an electronic safety net to find the limit, you might be in trouble, but most will find the third-gen Viper an eager and even confidence-inspiring back road or track companion.

Like the Ram, however, this Viper is not without flaws. The pedal box, while wide, only accommodates a rock climber’s tiny toehold of a dead pedal. Sharp bumps elicit a crashy, harsh response from the chassis, and the big tires skip over uneven surfaces. And you’d better step wide over that sill. You accommodate these things, though, because you’re not going to find the same emotive experience anywhere else.

Enthusiasts of all ages have taken notice, too. Quotes sought from buyers skew younger than those for the Ram, with Gen X holding a majority share at 37 percent and younger buyers occupying a quarter of the market. We picked the 1996–2002 Viper to be a part of our 2020 Bull Market list, and when you stack recent prices and young buyer interest on top of the third-gen Viper’s visceral reputation, it looks sure to follow the early cars in their collectible trajectory.

Speaking of prices, top-quality cars began to separate themselves with an upward move that began before the pandemic, while solid drivers began their rise in 2021. This year has treated third-gen Vipers well, with nominal increases across all condition ratings.

I pull back into Rocky’s garage and emerge from the Viper still giddy. At a time when enthusiasts beg for vehicles with soul, it’s hard to imagine two that straddle the line between an old-time good time and the modern era better than the Viper and Ram SRT-10s. And that’s why Rocky wanted to share them—for all their obvious differences, at their core they are rooted in the same notion of how a good car makes a driver fall in love with the moment. Both represent the promise of an occasion in every shift and a free giggle with every two strips of rubber. I won’t forget this pair anytime soon.

***

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Ford has no shortage of nameplates that get enthusiasts going. Mustang and GT40 are the obvious standouts, while the utilitarian Bronco is not far behind. That said, there’s another, more workaday model that’s captured our attention and is lighting up the value charts: Ford’s venerable sixth-generation F-Series.

In 1977, these trucks grabbed the pickup sales mantle for Ford, and the F-Series hasn’t looked back since. (Coming from a GM family, I’m obliged to point out there have been more than a couple years during that period when sales of the GMC and Chevy twins have together beaten those of the cross-town Ford; the Blue Oval only “wins” because GM’s trucks are technically two different models. But I digress.) Taking a conservative approach by using much of the same underpinnings as the previous generation, these “Dentside” Fords—so named for the indentation running the length of the body—were nonetheless a smash hit and rounded out the Ford truck hierarchy as we now know it.

Additional bed options (and a longer wheelbase) for the workhorse F-350 model were available from the generation’s debut in 1973, and the now-ubiquitous F-150 debuted in 1975. Trim levels changed over the course of the seven-year model run but included Custom, Ranger, Ranger XLT, and Ranger Lariat. The Lariat was about as decked-out as you could option a pickup then, with two-tone paint and a plush interior. As you can see from the brochure below, a variety of cabs, bed lengths, and bed styles met a broad swath of consumer needs.

Ford put an array of engines under Dentside hoods over the course of its seven-year production run: 240- and 300-cubic-inch sixes plus 302-, 351-, 360-, 390-, 400-, and 460-cubic-inch V-8s gave buyers plenty to choose from. For those who are shopping for these trucks today, engine differences make for slight variations in valuation, but while a 460 gets you bragging rights, there are worse things than tooling around with a 302 or a bulletproof Ford six-cylinder.

The exterior of these rigs benefited from extensive use of galvanized steel and rust-resistant coatings. Ford updated the Dentside F-Series’ look with mild tweaks to the grille in 1976 and again in 1978—this, along with the constant updating of engine and trim levels, helped keep the platform feeling fresh, even though it dated back to 1965.

Ford’s cover-all-bases approach (covered in great detail in our recent buyer’s guide on the Dentside) was a success then, and the truck is seeing renewed popularity now. That’s not just a generalized, pandemic-era-raised-all-prices statement, either—the sixth-gen F-Series is actually ticking up in value as the market has begun to come back down.

The rise of SUVs and old pickups as collector vehicles is nothing new, and Ford’s original Bronco was among the first to see values jump. As six-figure prices for Bronco or FJ40 Toyota Land Cruisers got people used to the idea that ’60s and ’70s collectibles weren’t limited to muscle and sports cars, values slowly began to rise for that era’s pickups as well.

Fast forward to now. Though the early darlings of the collector truck movement have lost some steam (#2-quality, Excellent condition first-gen Broncos are down 13 percent for the original Bronco in the last year, and FJ40 values are down just under ten percent), a similar condition F-150 4×4 with a 351-cubic inch engine is up 20 percent over the same period. The same F-150 in #3 condition is up nearly four percent.

The Dentside fares well against its contemporaries, too. Equivalent Dodge W- and D150 models (which are near to my heart after helping my cousin restore his—check out that story here) have been flat over the last year, and can be had for ten to twenty grand less depending on condition. Chevy’s K10 half-ton tracks the Ford more closely—it’s up nine percent for #2 and #3 conditions, though it’s still thousands cheaper than the Dentside.

The F-Series benefits from a very healthy set of buyer demographics. Younger buyers represent a full 40 percent of the market, while Gen X and baby boomers retain healthy shares as well. These trucks are nearly universally appreciated, and that pattern suggests they’ll continue to have a positive valuation outlook.

Are there more affordable classic trucks out there? Yes, there are. But if you love the ’73–79 F-Series’s looks and are good with a driver-quality example (you are going to use your classic truck as a truck, right?), you can still find decent examples in the teens. Besides, given how well-liked they appear to be across all ages, you’re likely to get out what you put into it. That’s the value of a good name.

***

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It sounds like the preface to an archaeological tale. Long before the dawn of the modern SUV, those who needed to lug kids or a lot of stuff roamed North America in station wagons. Within what is now a lumbering, nearly-forgotten segment existed a rare but compelling subspecies: the performance wagon.

Few marques offered a sporting trim on their longroofs, but savvy buyers knew what to do. If you wanted a 440-cubic inch big block and heavy-duty suspension underneath your Dodge Polara or a 428 with a four-speed manual in your Ford Country Squire, you just had to tick the right boxes and you could spec some fun into your family hauler. Though subtly powerful, full-size, body-on-frame wagons such as the Buick Roadmaster went extinct in the ’90s, Dodge and Cadillac saw enough opportunity in the market to inject some life into the V-8 longroof lineage in the 2000s, if briefly. The Dodge Magnum and Cadillac CTS-V wagon are two very different animals that achieve similar goals, and both are now collectible in their own right.

Debuting in 2005, the same year as the Chrysler 300 and a year before the return of Dodge’s venerable Charger, the Magnum rode on Chrysler’s LX platform. These were the beginning of some heady years for Chrysler’s full-size cars—gone was the oh-so-’90s cab-forward design, replaced with more familiar American sedan architecture that dipped its toe in fashionable-for-the-Aughts retro design. (That said, the Magnum is perhaps the least retro of all its siblings.) And, perhaps most importantly, the Hemi V-8 that had returned in 2003 found its way underhood at the Magnum’s debut.

The 340-horse 5.7-liter Hemi V-8 that came with the R/T trim hustled the big wagon to sixty in under six seconds, within sneezing distance of the new-for-’05 Mustang GT’s 5.1-second sprint. Contemporary reviews even lauded its roadholding, or were at the very least impressed that such a hefty wagon could grip the way it did. The Magnum managed this while offering more legroom than a Chevy Tahoe and boasting cavernous storage space to boot. It did suffer from poor interior quality, however, with a sea of cheap-feeling plastic throughout the cabin. The pillbox windows did little for overall visibility.

But Dodge bet that Magnum buyers were more interested in the car’s character than minor considerations, such as how well they could see out of the car. To wit, the company went all-in on the Magnum’s personality amplification for 2006, rolling out the 6.1-liter, 425-horse V-8-powered SRT-8. Along with quicker acceleration and bragging rights owing to its 13.6-second quarter mile time, the SRT-8 received upgraded seats, 20-inch wheels, larger Brembo brakes, uprated dampers and stiffer suspension components, and a throatier exhaust. Between both V-8 optioned cars, the muscle wagon was definitively back.

The effect was noticeable on the sales floor, too—Dodge moved more than 50,000 Magnums in 2005 alone. For the 2008 model year, the Magnum received an updated interior and a front end restyling that more closely resembled the Charger. Unfortunately, the Magnum’s life was about to be cut short. Not long after the freshened cars hit the showroom, Chrysler announced in late 2007 it was canceling the Magnum. Given its healthy sales and that the Chrysler 300 soldiered on till now and the Charger has thrived, the Magnum may well have had a few more good years in it.

Despite healthy production numbers for the R/T, finding a sharp, unmolested example can be a challenge. Sourcing the much rarer SRT-8 is harder still. Prices, though, are very reasonable, and are only slowly increasing. A #2 (excellent) condition R/T model can be had for $16,000; a similar-condition all-wheel drive R/T model will fetch $1400 more (#2-condition Charger R/Ts, both rear-and all-wheel drive, come in at $15,800). If you’re looking for a top-dog SRT-8, a #2 condition car slides in just under 30 grand. Either is a big, throaty muscle car option that just happens to be able to haul stuff.

Interest in the Magnum based on insurance quotes sought from Hagerty skews toward boomers, at 45 percent. Gen X follows at 29 percent, and younger enthusiasts make up about 18 percent. These proportions have held relatively steady over the last three years, suggesting that a change in value driven by refreshed interest in these cars is unlikely to occur anytime soon.

In contrast to Chrysler’s pivot to rear-wheel drive roots and retro styling with its full-size cars, Cadillac’s Art and Science design and CTS model were at the core of the brand’s effort to reposition itself as an alternative to Mercedes-Benz and BMW. The second-generation CTS sedan rolled out in 2008, with the Sport Wagon following in 2010. Cadillac’s performance-oriented V-Series models, which took aim directly at AMG and BMW’s M, came soon after, with the second-gen CTS-V sedan debuting in 2009 and the CTS-V wagon in 2011.

The sedan—and subsequent coupe—were impressive, but the CTS-V wagon stole the show. The 556-hp 6.2-liter LSA V-8 was backed by—joy of joys—a Tremec 6060 six-speed manual transmission. Yes, a six-speed automatic was available, too, but at the time you could count the available big wagons with manual transmissions on one hand and have four digits left over. MagneRide dampers helped ensure a balanced driving experience, and massive brakes woah-ed the two-ton wagon down as well as many sports cars. Cadillac had created a unicorn.

A bruiser if there ever was one, the CTS-V wagon got to 60 in the low fours and crossed the quarter in 12.5 seconds. The sedan version cracked the eight minute barrier at the Nurburgring, and while it was marginally heavier, the wagon didn’t lose much in the way of handling. While they do feel their weight, they’re agile and incredibly capable.

Having spent years with not one, but two CTS Sport Wagons, I can attest to the Caddy’s practicality. It’s unlikely anyone’s going to go get lumber in their now-quite-valuable CTS-V wagon, but you certainly could. Rear seat room is a bit tighter than in the Dodge, but the front seats (either base or Recaro) will happily accommodate occupants of almost any size. The interior isn’t opulent, and some surfaces feel more entry-level than the Cadillac’s European competition, but it’s cleanly designed and a comfortable cruiser.

Unicorn, though, is the operative word. As much ink as wagons get from auto writers, the modern new car buyer just doesn’t know what to do with them, much less niche models with massive horsepower and three pedals. CTS-V wagon production reflected that—from 2011-2014, only 1767 examples were made, 514 of which were manuals.

The modern car collector, on the other hand, knows well what to do with such a car. Values for the CTS-V wagon started their rise in 2019, a mere five years after production stopped, and well before the pandemic took the collector market to new heights. Today, a #2 (excellent) condition CTS-V wagon comes in at $91,700, up five percent even over the last quarter. As would be expected, manual transmissions command a strong 15% premium over automatics.

Unlike the Magnum, the CTS-V wagon has healthy interest from younger generations—a full 40% of quotes sought come from gen Z and millennials. Gen X represents a similar proportion of interest to the Magnum at 26%, while boomer interest is at 25% and receding. Over the last five years, the CTS-V wagon has placed itself in the modern collector firmament, and the demographic interest suggests it’s poised to stay there.

Despite the valuation differences between these two cars, both of them offer an experience that’s tough to find in the collector car world. People often characterize early SUVs as useful classics, but the Magnum and the CTS-V wagon arguably fit that bill more precisely. There aren’t a lot of models that offer muscle car thrills and can comfortably fit four people with all their luggage on a long trip. These last American muscle wagons are hard to beat.

***

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Via Insider

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Fred Calero has a knack for pulling the right pieces together. In 2019, he purchased the remaining 30 chassis of Ford’s retro-inspired 2005–06 GT supercar. The goal? To create a limited-production track monster that melds legendary heritage, racing technology, and design artistry. That would be a considerable feat even for a full-suite automaker, but it’s especially notable for the team of just four core individuals that Calero assembled to make the GT1 hypercar a reality. Based on the thundering example that is streaking past me at Pontiac, Michigan’s M1 Concourse racetrack, they’ve concocted—and refined—a potent potion.

On paper the GT1 seems downright hyperbolic: a claimed 1400 horsepower on 93 octane from a Roush-Yates 427-cubic-inch, twin-turbo V-8, backed by a sequential six-speed transmission. Aircraft-grade, thick-weave carbon-fiber body panels. Aero and chassis design rooted in European GT3 competition. Meticulous tuning by an engineer who helped develop the original ’05 Ford GT. You’d be forgiven for uttering any flavor of exclamations when you lay eyes on the car in person—squat, muscular, and bewinged, with enough cooling ducts and vents for a Category-Four hurricane to flow neatly across its flanks. Every element of the GT1, which starts at $1.3M, declares its sense of purpose.

Calero is cut from a similarly focused cloth. Within minutes of greeting me at his M1 Concourse private garage he has slipped into his driver’s suit, ready to hit the track. His demonstration laps will double as a round of data collection; his team take every opportunity to learn, iterate, and improve. We walk over to GT1 as Ricky Johnson and Jeremy Sutton, two of the car’s engineers, prepare it for the boss’s 9:00 a.m. session.

Johnson presses the start button. The RY45 engine—so named for its 4.5-inch bore spacing—barks to life, settling into a bassy, energetic idle. When the car has warmed up, Calero hops in the driver’s seat and Johnson gets in next to him, the latter busy preparing a device to remotely relay the car’s onboard telemetry–in real time—to their engine tuner. The two make their way on track while Sutton and I seek out a good vantage point.

“427 cubic inches was a magic number for us,” says Sutton, raising his voice as the Doppler effect of the approaching GT1 bounces off the row of trackside garages. “It was important for us to pay homage to the GT40. And to have a powerplant that matched the personality of the rest of the car.”

Big displacement doesn’t stop the aluminum RY45 from winding out—the heads will happily flow to 10,000 rpm, according to Sutton, but the team settled on a (still-stratospheric) 9000-rpm fuel cutoff to ensure longevity. The result, aside from superlative power output, is a brash American V-8 wail that would be right at home at Daytona.

Racing-influenced, brawny carbon-fiber beasts are familiar territory for Sutton. “I was the only Yank, as the Brits called me, at TVR,” he says, recounting his work on the bonkers 800-hp Cerbera Speed 12 race car. Sutton’s no stranger to fast Fords, either. He spent time under John Coletti at Ford’s Special Vehicle Team, working on the SVT Focus and Terminator Mustang Cobra in the early 2000s, right around when the GT was under development. Now, two decades later, the GT1 project might not exist without Sutton’s suggestion to Calero that there was a business case for an exclusive, GT-based track car riding on the 30 unused chassis. In addition to engineering and management, Sutton tends to marketing and customer-facing activities.

It all started with a 2019 post on FordGTForum.com. Ford Performance was unloading the 30 remaining GT chassis, which it had in storage. Calero, an avid track rat and owner of an ’05 and ’17 GT, geeked out at the possibilities. Sutton’s notion of a dedicated track machine seemed compelling, as were his suggestions that others might also be interested in the concept. “I listened to him, we bought the chassis, and, ‘Here we go! I’ve accidentally started a car company,’” Calero says.

He’s being a bit tongue-in-cheek, as I soon gather that Calero doesn’t do much by accident. He recognizes that the GT1 is a huge financial and logistical undertaking, a full-time job that requires total attention. A successful entrepreneur in medical tech and other fields, Calero seems to possess the rare capacity to be aware of what he knows, what he doesn’t, and how to fill that vacuum. He methodically recounts how the team knocked down each step in the creation of the GT1.

Calero found the body molds not far away in southern Michigan, built by Matech—the race team that campaigned the GT in European GT3 racing in 2010. “I discovered that a friend of mine had purchased the Matech race cars, so I asked if we could utilize some components to help engineer our car,” says Calero. “He told us to come on over and offered a container full of spares that we’ve since used to help develop the car.” Suddenly Calero had not just the chassis, but almost everything he’d need to body them.

Back on track, Calero ups his pace, coursing through the long right-hander by the start/finish line with increased urgency. I ask Sutton, the engineer, how the GT1 team adapted to the advancements in tire and damping technology since the chassis debuted almost twenty years ago. “The suspension is one of the many places where Jim Dunham comes in,” he explains.

Dunham, the fourth member of the team, is mentioned frequently and with reverence on the day of my visit. The team isn’t much for labels, but the other members consider him the chief engineer for the GT1. Among many projects during Dunham’s 32 years at Ford, he served as a development engineer on the ’05–06 GT. The man has probably forgotten more than most people will ever know about this chassis.

“Jim did all the work on the engineering of the kinematics and the suspension geometry for the GT1,” says Sutton. “We used a lot of Matech’s hard points, but we had to bring the front track out significantly to get the dynamics right.”

Developing suspension components to these specifications was possible through generative design—a computer-driven iterative process that yields lightweight, ultra-strong results. Including the suspension bits, there are over 300 custom-designed billet parts on the GT1.

Calero wraps his session after about 20 minutes and drives back to the garage, where I can take a closer look. The GT1’s body manages to span several eras: the ’05 GT’s overall design and styling cues are unmistakable; the body panels from the Matech GT3 molds, paired with revised aerodynamic elements, recall purpose-driven upgrades suitable for racing in the early 2010s; and the exposed carbon-fiber weave seems very much to today’s hypercar taste.

It has taken a lot of work to get the GT1 to this point. Creating a car like this, not to mention 30 of them, is especially remarkable because it is Calero’s first professional automotive endeavor. Given the way he seems to be navigating such a complex process, you’d think it was old hat for him.

Calero has attracted suppliers who are eager to see this project succeed, recognizing that a boutique firm requires something not readily available off the shelf. “AP Racing, our brake supplier, came in with a host of questions to custom-tailor their setup,” Calero says. “Next thing you know, they’ve sent an engineer out here to help with brake bias and coach us on fine-tuning. It’s similar with Haltech, our engine management system supplier. Ricky’s constantly working with them on the latest data, as you saw this morning.”

There have been challenges, of course, but Calero doesn’t dwell on them. He is candid about bumps in the road but quick to emphasize the solutions and affirm credit where it’s due. As if on cue, Calero turns to Johnson and highlights his work.

“Ricky wears so many hats,” says Calero. “Wrenching, interacting with all the suppliers, reporting any necessary fixes—he does so much of our heavy lifting.” The youngest member of the team, at 25 years old, Johnson was nonetheless critical in addressing development hurdles with everything from transmission shift electronics to custom wiring-harness fabrication.

There are still adjustments to be made. But with the right people, parts, and suppliers finally in place, the GT1 team is committing to a timetable for customer deliveries. The plan is to build four cars this year. “Doing it right is more important than doing it fast,” explains Calero. “Over-subscribing to ten or 15 cars puts the priority on delivery over quality.” One customer, Calero shares, was visiting the shop on the day before my visit for a seat fitting and to discuss materials.

Visitors to The Amelia in March 2023 may have been captivated by the Gulf-style, blue-over-carbon test car on the concours lawn, but the customer example I pore over at M1 Concourse is perhaps even more stunning. The sumptuous, Pagani red tint finish has just arrived back from the painter and, Calero says, more accurately represents the finished product buyers can expect. The visual hits are set to keep coming; a one-off livery created by Camilo Pardo, the chief designer who penned the 2005 GT, is set for reveal this month at Monterey Car Week.

It will be tempting to assess the GT1 in that rarified context, among other boutique builds of the world’s most exclusive automobiles. Porsche “reimaginations” like those of Singer and Gunther Werks come to mind, though Calero draws a distinction from such outfits. “We didn’t take an old car and make it more modern,” he says, arguing that the GT1 is about taking the original concept much further. “Someone I showed it to called it a hyper-classic,” says Calero. “I think that fits.”

***

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There’s a newcomer to the Mustang stable. The Dark Horse now represents the top spec for the model’s new, seventh generation. It’s also the first new name for a Mustang performance trim since the Bullitt in 2001. Of course, that nomenclature was a McQueen nostalgia play tapping into prior glory—a strategy essential to the retro-fueled pony car since 2005, which both the fifth-gen Boss 302 and the recent sixth-gen Mach 1 employed to great effect. The Dark Horse, though similar in concept to these predecessors, is all about looking ahead.

Without explicit heritage to call upon, the Dark Horse will instead draw credibility from racing. Though Mustangs have long been a familiar sight at tracks in the U.S. and occasionally abroad, Ford is stepping up its presence with new GT3 and GT4 variants of the Mustang Dark Horse for international endurance racing. To further drive home the point—that the Mustang is much more than a pony car—a racing-only Dark Horse R will be the focus of a new IMSA-sanctioned Mustang Challenge spec series.

What does that mean for the road-going Dark Horse you can actually buy? As with the outgoing Mach 1, the Dark Horse is both an aspirational step beyond a fully kitted GT as well as an incrementally more performance-oriented, track-capable tool.

Incremental is the key word here—the Dark Horse is not a wholly different beast from the GT, but rather the result of many small tweaks that amplify the traits of an already excellent sports car. And, as with the Mach 1, the Dark Horse doesn’t sacrifice road manners for outright track prowess.

Ford provided a good setting for us to explore the Dark Horse’s personality, with ample laps on the Charlotte Motor Speedway roval (a blend of road course and oval) as well as time on public roads winding through rural North Carolina. Our track sessions included time in manual-transmission cars with and without the Handling Package ($4995). Luck of the draw gave us a base Dark Horse, with $1650 optional Recaro seats, for road duty.

Specs: 2024 Ford Mustang Dark Horse

Price: $60,865
Powertrain: 5.0-liter V-8; 6-speed manual or 10-speed automatic
Horsepower: 500
Torque: 418 lb-ft
Layout: Rear-drive, two-door, four-passenger coupe
EPA-rated fuel economy: 14–15 mpg city / 23–24 mpg highway
0–60 mph: sub-4 sec (est.)
Competitors: Toyota GR Supra, BMW M2, Chevrolet Camaro SS 1LE (soon to be gone)

We’ve covered the EcoBoost and GT trims in the cavalcade of Mustang coverage over the last couple of weeks, which has underscored the deluge of options and configurations across all three levels. At the top of the heap is the Dark Horse, starting at $60,865 including a $1595 destination fee. Tick all the boxes and you can cross $75K. What do you get for all that?

The performance-focused Dark Horse starts with tweaks to the 5.0-liter Coyote engine to reach an even 500 horsepower, from the GT’s max 486. Backing up the engine are two transmission choices: either the exceptional Tremec TR-3160 (an upgrade from the GT’s Getrag unit) or a version of the ten-speed automatic Ford initially developed with GM. Active exhaust valves come standard, as do the familiar MagneRide dampers. The larger brakes, wheels, and Pirelli P Zero tires that come on the GT’s Performance Pack—along with some of that package’s suspension bits—are fitted as standard to the Dark Horse, but specific damper tuning, spring rates, and sway bars vary based on which Dark Horse trim you pick. In addition to other details we’ll highlight below, the Dark Horse’s Handling pack yields a larger wheel and tire combo, along with even stickier Pirelli Trofeo RS rubber.

Hop inside a Dark Horse and the differences from the GT are subtle. There’s a numbered plaque ahead of the passenger, a unique screen start sequence, darker trim surfaces, and stitching differences. The Dark Horse Appearance Package ($1500) adds attractive Deep Indigo blue leather. Your choice of seats boils down to relaxed or aggressive: the base models are more adjustable and have welcomed lumbar support and optional ventilation. They don’t hold you laterally, though, which is where the Recaros come in. They’re great for track work and were comfortable over a couple-hour journey but could use more adjustment and lumbar support.

The most noticeable change to the Mustang’s interior is the screen-dominated dashboard. The giant flat surface will remain jarring for many, but its configurability provides excellent vehicle information at a glance. In Track mode, the digital tach’s redline is centered for easy visibility, and the second screen can meanwhile display a whole suite of gauges—it’s clear the performance team got to crash the tech party, and we consider that a win, of sorts.

Ford’s decision to put technology at the forefront of this interior highlights a pivotal design decision—to move away from explicit call-outs to the 1960s Mustang. No chrome surrounds, no retro surfaces or shapes. Arguably, the last Mustang interior that didn’t reach back to the first-gen cars was the Fox-body Mustang, which ended production in 1993. The only vintage references in the latest-generation Mustang are the selectable Fox-body gauges, complete with illuminated green instruments like Gen X experienced all through the 1980s and ’90s. Time marches on, and once again, so does the Mustang.

Some things have not changed. Pulling out from the pits onto the banked oval immediately revealed the star of this package: the 500-horsepower Coyote V-8/Tremec TR-3160 combination, which deserves a spot in the Sensory Joy Hall of Fame. All snarl and bass, the Coyote rips to its 7500-rpm redline, rolling into its refrain again and again with each subsequent shift. Each short throw of the blue titanium shift ball requires considerable effort, rewarding you when the lever snaps into position with satisfying authority. Movement between the gates is precise and mechanical-feeling. Like any quality tool, good feedback makes the job easier, but also more enjoyable. The same can’t be said of the GT’s Getrag MT-82, whose linkage is comparatively imprecise.

Those 500 horses—14 more than an active exhaust-equipped GT (torque remains the same at 418 lb-ft) are courtesy of some classic hot-rodding. The Dark Horse gets a balanced crankshaft, hardened camshafts, forged connecting rods from the outgoing GT500, and a revised tune, all of which should aid in durability through extended periods of high-rpm tomfoolery. To further help keep the Dark Horse composed, Ford added coolers for the engine, transmission, and differential. They came in handy—temperatures on track at Charlotte cracked 100 degrees by midday, and none of the Dark Horses broke a sweat.

Opting for the $1595 ten-speed automatic provides slightly shorter gear ratios than in the automatic-equipped GT (the Tremec’s are shorter than the Getrag’s as well). The automatic gets a 3.55:1 Torsen limited-slip differential, while the manual gets a 3.73:1 Torsen. Ford didn’t issue hard numbers on acceleration, but expect a zero-to-60 sprint in under four seconds.

Heel-toe is easy with the well-spaced pedals (or you can let the Dark Horse rev match for you), and we couldn’t help but grin at the Coyote’s sharp barks on downshifts. The same six-piston Brembos up front and four-piston calipers in the rear from the GT’s Performance Package are standard here, and with the help of electronic boost they have no problem peeling nearly 100 mph off the 3949-pound Dark Horse’s speed into a tight hairpin at the end of Charlotte’s back straight. Initial brake bite is not excessively grabby, and the pedal feels consistently firm.

Turn-in isn’t over-eager, even with the Handling Package’s grippy 180-treadwear 305-section front Pirelli Trofeo RS tires and adjustable camber plates borrowed from the outgoing GT500. The Dark Horse instead hews old-school, encouraging trail braking on corner entry to help position the nose, while adjusting throttle facilitates line corrections throughout the corner.

This is a willing, communicative chassis that most drivers will not find hairy or intimidating. Steering weight is a bit firmer than in the GT yet overall still lighter than in BMW M or GM performance cars. That’s a stylistic difference rather than a shortcoming, but we nonetheless wish for a bit more directness and response; changes in front end grip whether on track or street can be a bit muted through the steering wheel. That’s really our only quibble.

If you plan on doing any track time at all, the Handling Package is worth the five grand. It adds an aggressive front splitter and rear spoiler, stiffer springs, retuned MagneRide dampers, a solid 24mm rear sway bar instead of a hollow one, and the aforementioned Pirelli Trofeo RSs (305 section up front and enormous 315s in the rear, shod on wider wheels). You’d be hard-pressed to spend less than that on aftermarket parts to bring the base Dark Horse or a Performance Package GT up to the top Dark Horse’s level, much less finding a formula that’s as dynamically balanced as what Ford’s engineers have developed.

Plenty of Dark Horse owners will never see time on a road course, and these customers should not overlook the base car. It delivers during assertive street driving and enjoyable cruising, wearing the same Pirelli P Zeros that come on Performance Pack GTs, plus Ford’s supple yet superbly-controlled MagneRide dampers with a unique tune. Like any Mustang these days, the Dark Horse can be as docile or devilish as your right foot demands. The car’s consistent balance across this wide performance threshold is what impresses us most.

Ford’s pony car may have prioritized heritage for the last couple of decades, but it’s always been an aspirational choice. In that respect, the Dark Horse is not as much of a pivot as it may appear. Like the Mach 1 before it, this car is hard-wired for the heart more than the head. Big performance, big street presence, and big, impressive name. That those same ingredients have been spun into a fresh recipe should please Mustang fans old and new. And for the most dedicated traditionalists, we have to believe a Shelby version will be added to the menu soon.

2024 Ford Mustang Dark Horse

Highs: Rewarding to drive in any context—winding road, open boulevard, or closed circuit. Thunderous sound and tactile feedback that is becoming increasingly rare.

Lows: Could use a touch more front-end grip. Base seats would be perfect with more lateral support.

Takeaway: A high-performance, high-emotion Mustang for generations both present and future.

***

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Metallic exhaust roar echoed through the hillside as I wound along Ohio’s Kokosing River. Overhead cams whirred and the engine swept through its sweet spot between 4500 and 6500 rpm. Shifting at redline, I was rewarded by another eager rush in the meat of the powerband. It’s hard to believe this is a big American V-8. Now, as in 1990, the Chevrolet Corvette ZR-1 is a revelation.

So revelatory, in fact, that it shocked General Motors’ own engine division into a frenzy of activity. GM engineers were so taken aback at the decision from on high to hire Lotus to design the ZR-1’s high-performance LT5 engine—and Mercury Marine for its construction—that they quickly got to work on new small-block V-8 designs. The result was in the car behind us, a 2004 Corvette Z06.

These two bygone bosses of Bowling Green obviously have a lot in common—flip-up headlamps, about 400 horses under their hoods, and capable handling. Here’s something else: Both can be had today in excellent condition for around $45,000, according to the latest Hagerty Price Guide. That’s quite a steal considering the recent run-up for other performance cars of the era (a roughly contemporary Toyota Supra Turbo, for instance, will easily run you six figures).

Of course, we couldn’t help but wonder which Vette is better. Father and son Hagerty members Rick and Rocky Yusi own pristine, low-mile examples of each and graciously shared them to help us understand what sets these cars apart. Together, we disappeared into the hills of southeast Ohio to find answers.

C4 ZR-1

Engaging with a C4 Corvette is an exercise in immersion. Or maybe it’s contortion. Slide over the famously large sill and slither down into the deeply bolstered bucket seat, and you’re completely enveloped by a high transmission tunnel and driver-oriented dash. You’re now of this Corvette, not merely in it.

Nowadays this cockpit—complete with orange-over-charcoal analog gauges, digital display, and acres of small buttons—screams RADwood. But in period, the futuristic design ethic was intended to break completely with prior generations of America’s sports car. “The C4 was a modern statement: It didn’t look back at heritage,” retired GM designer John Cafaro told me in a phone interview.

Brash as it is, there’s not much to the cabin or the design as a whole that tips off the casual observer that this version of the Corvette is a supercar slayer. “I love the way it looks and all the subtle ways it’s different from the base car, but I do wish Chevy made it stand out a bit more,” admitted Rick, who bought this ZR-1 new in 1990. The tachometer’s 7000-rpm redline is the only hint at the marvel that is under the clamshell hood.

The standard Corvette in 1990 had a pushrod, iron-block 5.7-liter L98 V-8 that produced 245 horsepower at 4000 rpm. The ZR-1’s engine, known as the LT5, carried over only the displacement and bore spacing. Its block and cylinder heads were aluminum. Dual overhead cams actuated 32 valves (versus 16 in the standard car). It made 375 horsepower at 5800 rpm—around the fuel cutoff for the standard car.

I fired up the LT5 and left the college-town charm of Wooster via a sweeping state route dotted with Amish farms. The bucket seat cosseted me with a vast array of power and pneumatic adjustments. Meanwhile, the three-way adjustable Selective Ride Control dampers—a feature that debuted on the ZR-1 and paved the way for similar tech in later models—impressively blunted road imperfections when set to Touring, the softest mode.

Along with that comfort, though, comes some softness in the controls. This is a car from a different era, after all. Initial application of the brake pedal is 1990s-GM squishy, although it firms up with increased pressure. The weighty, mechanical shifter atop the ZF six-speed box has a rubbery give as you reach each detent.

The asphalt roller coaster bends began south of Millersburg, where the scenery evolved from undulating corn and soy fields to rocky, rolling hills. I stiffened the ZR-1’s damper settings to Sport and then to Performance. Even in modern cars, selectable drive modes can be more gimmick than substance, but not here. The dampers deftly responded to imperfections and helped the car stay utterly poised as I pitched from left to right.

The harder you drive the ZR-1, though, the more it reveals the one dynamic trait that belies its age: the chassis itself. At anything more than about 6/10ths pace, the frame flexes through camber changes. The car never gets upset, but when pushed, the compliant chassis’ additional motion distracts from the experience. Turning the ride control setting from Performance down to Sport softens the dampers, enabling smoother, less wobbly transitions, yet I found myself wondering how much more dynamic the ZR-1 would feel had its structure been further stiffened to let that superb suspension more effectively do its job.

Despite that, I emerged from the twisty river-bottom roads with some newfound respect for the ZR-1. Remember: Less than a decade prior to this car’s debut, the Corvette was a still 190-hp weakling. This car made clear that Chevrolet wanted to build a world-class sports car, and the seriousness of that intention still shines through when you’re driving it today.

C5 Z06

On to the Z06. The design is clearly less of a departure from what had come before than the C4. The General Motors that developed the C5 in the 1990s was more cautious—and had a considerably smaller pocketbook—than the one that had spawned the C4 in the early ’80s. Cafaro, who was chief designer for the C5, noted that special care had to be taken to appease various departments, including what he affectionately calls “the toothpaste and detergent folks” in marketing. “One little controversy could’ve killed the car,” he said. By 2004, the C5’s last year, Chevy had relaxed enough to allow a carbon-fiber hood and stripe package for the Commemorative Edition, as on the Yusis’ car. Today it’s worth slightly more than other C5 Z06s.

Styling aside, the generational difference from the ZR-1 immediately presented itself upon opening the door: Those massive side sills are gone. You can simply get into the car without first having to practice yoga.

Those sills shrank because the C5’s chassis, four times stiffer, incorporated hydro-formed frame rails and a strengthened center tunnel. The concerted effort to increase rigidity went hand in hand with making the C5 accessible to a wider array of people. A longer wheelbase increased cabin space, as did repositioning the gas tanks to behind the seats.

Most of that practicality carried over to the high-performance Z06, which debuted in 2001. The Z06’s flat, wide seats surely did better in focus groups than the ZR-1’s, since they’re able to take in a broad swath of humanity, although they don’t hold you nearly as well in aggressive maneuvers. (Sport buckets, available in the base coupe and convertible, didn’t make it into the Z06 due to their extra weight.) Those same focus groups also nixed the pseudo-digital gauges, so you stare at more traditional analog gauges. As a result of the efforts to make the C5 more approachable, the Z06 feels more utilitarian and less of an occasion than the ZR-1.

At least, until you fire up the 405-horse, 5.7-liter V-8. The standard, lightweight titanium exhaust emitted a docile burble that turned raw and throaty when I rolled onto the throttle. The LS6, as this engine is known, is on its face less exotic than the ZR-1’s LT5: It’s a pushrod engine and makes only 55 horsepower more than the contemporary base Corvette. Yet that only speaks to how profoundly the tried-and-true small-block had changed in the intervening years. The LS-series V-8, which debuted with the C5 for 1997 and eventually proliferated to millions of trucks and SUVs (not to mention hot rods and restomods of all stripes), was the most significant update to GM’s bread-and-butter V-8 since it debuted in the 1950s. An aluminum block was baked in from the start, as were high-compression aluminum cylinder heads.

The LS6 was the first true rock star of this engine family, with even higher (10.5:1) compression, better-breathing intake manifold and cylinder heads, and myriad tweaks to the internals. The result is an engine that pulls linearly—and hard—from about 2000 rpm and barely lets up by its 6500-rpm red-line. You can rev it out or stick the gearbox in third or fourth and count on low-end torque to muscle through a corner.

The Z06’s controls would be at home in a current sports car. Moderately heavy steering offers feedback but isn’t particularly lively—for better and for worse, it’s similar to many modern racks. The shifter’s throws are long but crisper than in the ZR-1. The brakes inspire confidence with a firm and linear pedal. And, thanks to the relocation of the transmission to the rear of the car, the Z06’s footbox allows plenty of room for fancy pedal work.

Returning to the route along the Kokosing, I discover how progressive and predictable the Z06 is, especially for something with this much brawn. The nonadjustable suspension allows for plenty of body roll in assertive driving, but it’s always well composed. You quickly get used to this trait, and it becomes part of how you set the car through a corner. The chassis does exhibit some flex, but it’s dramatically less than the ZR-1’s. Overall, the 3100-pound Z06 feels big but never unwieldy, even on tight, technical roads.

As the day ended, I slotted the Z06’s shifter into sixth gear and settled into a cruise. The car quietly soaked up the miles and nosed close to 30 mpg at the speed limit. It was almost funny; in contrast to the ZR-1, the only thing I needed to adjust to bring out the Z06’s differing personalities was what gear I was in.

***

What we have here, despite the apparent similarities and comparable values, are two very different slices of apple pie. The ZR-1 is more complex and full of character. It is also, from a design and historical standpoint, more significant—we’re talking about the first Corvette in decades that truly went toe-to-toe with the best in the world. Perhaps for those reasons, trailer-queen ZR-1s tend to fetch considerably more than similarly pampered Z06s.

If you’re looking to drive a lot, it’s hard to argue with a Z06. Say what you will about GM’s obsession at the time with metrics and ergonomics; it yielded a sports car you can still easily use every day to fetch groceries—and then embarrass younger and more expensive cars at a weekend track day. It’s truly a Goldilocks car. That versatility and usability help explain why it’s generally appreciating faster than the ZR-1—and why we put it on our most recent Bull Market List.

Ultimately, both exude “Corvette” and offer heaps of performance and personality. I end the day still wondering which $45K classic I would choose, but more so, I’m grateful to have experienced them both.

***

This article first appeared in Hagerty Drivers Club magazine. Click here to subscribe and join the club.

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Gary Bartlett didn’t set out to be the first person to import a car under the Show or Display rule—he and his wife just happened to sit at the right dinner table at the right time. The ensuing adventure would pave the way for importers who use the rule to this day to bring rare and historically significant foreign-market cars to the United States.

Show or Display, the provision that is the only legal way to import cars that are less than 25 years old into the U.S., is now over two decades old. The process for adding a vehicle to the Department of Transportation’s (DOT) list of accepted cars and making sure it clears the necessary Environmental Protection Agency (EPA) emissions hurdles remains tedious, but after 23 years, the steps are now established and clear. That wasn’t the case when Bartlett struck up the conversation in the spring of 1999 that would lead him down this path.

“We had driven our Jaguar XKSS to Belgium for a speed trial, and through an odd series of events we ended up at a table next to the managing director of Jaguar, Mike Beasley,” says Bartlett. “In the course of our conversation, I mentioned that I’d love to own a Jaguar XJ220, and he said they had 14 that remained unsold that they’d love to dump—I think those were his exact words. That’s when we started talking about Show or Display—the ‘Bill Gates law’ that was about to come into effect, and how it could soon be possible to legally import the XJ220 to America.”

As Bartlett implies, Mircosoft founder Bill Gates was largely responsible for this provision. In the late 1980s, Gates imported a new Porsche 959 to California, only for it to be held up with customs for years because foreign-market vehicles under 25 years old were not legal for importation. It took time, but the advocacy of Gates and others successfully carved out the legislative solution that passed Congress in 1998, which would come to be referenced as Show or Display.

The language, tucked in a much larger bill with other transportation-related authorizations, enabled the DOT to exempt certain motor vehicles from certain motor-vehicle safety standards if they were imported for the purpose of show or display. Establishing the requirements and process for implementation would be left to the agency itself.

Meanwhile, after their initial conversation, Bartlett and Beasley began to firm up the deal for the XJ220. Jaguar was a motivated seller—if Bartlett could successfully secure eligibility for the XJ220 under the new provision, that would open up the U.S. market and hopefully enable the sale of the remaining XJ220s languishing in Coventry. Ultimately, it was decided that Jaguar would sell Bartlett an XJ220 at a reduced price if he would go through the process, and the company would also provide the necessary support to help ensure the car would pass U.S. emissions requirements.

Bartlett submitted his application to the DOT on August 11, 1999—two days before the law took effect. At that point, it wasn’t merely a matter of waiting for the agency to respond—as the first applicant, Bartlett and his XJ220 were about to become the test case that established precisely what went into determining a car’s eligibility under Show or Display. Working with a federal agency might sound like a daunting task, but Bartlett soon discovered what may have been the primary factor for Show or Display’s success: There was a car guy in charge of its implementation.

“If it hadn’t have been for somebody like Dick Merritt serving as the National Highway Traffic Safety Administration’s Vehicle Compliance Officer, who knows what would’ve happened,” says Bartlett. “Merritt actually knew cars, and it was fortuitous at the time that he was there.”

Decades earlier, Bartlett had met Merritt while attending a mechanic’s school in Chicago that specialized in training on Ferraris. Merritt instructed there, and had established himself as a preeminent authority on that marque. Fast forward to the summer of 1999, the two reestablished their connection and, along with Bartlett’s employee, Ken Sheppard, got down to business navigating the new Show or Display rule.

“Dick gave us the guidelines in the new law, but they needed to be put into a format that applicants could understand,” Bartlett says. “We worked with him to help create that format. Dick and I would talk on the phone—I remember him being a very precise, matter-of-fact kind of guy—then Ken and I would work on the language and submit it back via fax. He would look at it, make notes, and either call me or fax it back. At the end, the process for determining eligibility was still somewhat complex, but it was much more manageable for applicants and DOT.”

The resulting process put finer points on the provision’s requirement that only historically or technologically significant vehicles that were never certified by their manufacturer for U.S. sale would be eligible. These include questions as to whether the vehicle is still in production, whether its production exceeded 500 units, and whether it is a kit car or replica. Any “yes” answers to those questions (along with two others pertaining to certification and importation) means a likely rejection letter, though if production exceeded 500 units, you are welcome to submit additional information supporting your cause. These remain the eligibility standards by which potential Show or Display importations are judged today.

Thanks in large part to Merritt’s cooperation, the XJ220 cleared the DOT eligibility hurdle. Concurrent with Bartlett, Merritt, and Sheppard sorting the paperwork, though, was the XJ220’s emissions testing. That was a stickier wicket.

The car had to meet EPA emission standards for the year in which it was constructed, 1994. “The lab we used to test the XJ220 was called Compliance and Research Services in Linden, New Jersey,” says Bartlett. “That’s who Jaguar contracted with on some of their new cars.” All did not go smoothly, however.

“When it came over here the first time, we took it to the lab and it failed miserably. That’s when Jaguar’s commitment to assist with emissions compliance became so invaluable,” Bartlett says. Others seeking to import through Show or Display didn’t enjoy manufacturer support and had to work with private shops to retune their cars—something that’s not simple today but was a much more complex undertaking at that time. Bartlett packed the car up and sent it back to Jaguar’s Whitley Engineering Center in Coventry.

“The car went back and forth several times. Every time we had to be sure the paperwork was right or customs would impound the car,” he says. “The engineers in Whitley found out that by changing the camshaft timing, using Swiss software and new converters, it would pass the U.S. EPA tests. It was already an incredibly powerful car,” adds Bartlett, “but it turns out these changes actually increased power in addition to making the car compliant.” The Jaguar became 49-state legal (it failed the California Air Resource Board’s evaporative emissions tests), and that was enough for Bartlett, who resides in Indiana.

On March 1, 2000, a little more than six months after Bartlett submitted his application, NHTSA granted entry to the Jag under Show or Display with a letter marked SD-00-001, indicating it was the first vehicle approved through that process. The car was now his to enjoy within the 2500 miles that Show or Display allowed per year.

You might think that after all the work he put in, and the fact that Bartlett is a passionate, lifelong Jaguar fan, that his salad days with the XJ220 began with that letter. Unfortunately, he came to know firsthand why Jaguar had trouble unloading the final 14 cars. “I drove the car back to Indiana from New York, and by the time I got home,” he says, “I thought, ‘What the hell have I bought?’”

Bartlett was one of many who fell in love when the XJ220 concept debuted in October 1988. Its four-cam, 6.2-liter V-12 sent power to all four wheels, and the car sported then state-of-the-art four-wheel steering and four-channel ABS. It was a tantalizing vision of what the next-generation Jaguar supercar could be.

Disappointingly, the production XJ220 would end up a shell of what the concept promised, with the Jaguar-Tom Walkinshaw partnership settling on a 542-hp 3.5-liter V-6 that, while powerful, sounded nothing like the big V-12s that Jaguar was famous for and had used to win at Le Mans in 1990. It also scaled back on the tech, eliminating the four-wheel steering and all-wheel drive. To make matters worse, the supercar market took a dive right around the production XJ220’s 1992 debut, further assuring the car’s poor sales.

Of course, Bartlett knew this in 1999. “It’s a gorgeous Jaguar, and I’m a serious Jaguar guy,” he says, and he pushed ahead.

A seasoned amateur racer with an FIA license, Bartlett knows a thing or two about reaching a car’s capabilities. “The 220 was brutally fast in a straight line, but didn’t stop very well. It also had a wicked tendency to go from understeer to a nasty oversteer,” he says. “The transmission was OK, but it was almost agricultural in how it shifted—the gears felt big and heavy. It also had a fair amount of turbo lag. It would take somebody the likes of David Coulthard, David Brabham, and John Nielsen, who won their class at Le Mans in 1993 in an XJ220, to really get the most out of this car.”

Even though the car itself was a disappointment, Bartlett remembers the experience fondly. “What shop could you go to that would have the expertise that Jaguar’s Whitley Engineering Center had?” he asks. “Traveling there with the car to work on EPA compliance meant spending a lot of time with the engineers, surrounded by all the experimental projects they were working on. It was a fascinating place, and that was a heck of a lot of fun for me.”

Bartlett’s fun times have helped yield enjoyment for others as well. Though it all started with a happy accident, his direct role at the beginning of Show or Display helped build the path for a wealth of interesting cars to make their way to the States, from Porsche 959s to McLaren Speedtails and iterations of the incredibly popular Nissan Skyline GT-R. Remember that next time you sit down next to a stranger at dinner.

***

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“She made 374 deliveries last year, and so far in ’23 she’s up to 219,” said Ron Smoker, owner of Geneva Materials. He chuckled as he looked toward his 1946 International KB-7. “We like to name our trucks, and that one’s called Nell. She makes all the money.” You’ll find Ron and Fiona, his five-year-old Corgi, driving Nell five days a week in the warmer months delivering mulch and topsoil to their customers. I’ll be honest—aside from how friendly Ron is, the primary reason I get mulch from him is to see that big old truck come up my driveway.

I’m probably not alone. It’s an occasion to see old trucks doing “truck things”—working, hauling, contributing to our day-to-day—and it almost seems a novel concept in a world of planned obsolescence.

Not for Ron, though. His garage is filled with capable, old, but lovingly cared-for vehicles that are put to work on a regular basis.

Ron’s love for International trucks began years ago at his father’s logging business. “When I was 8 years old, my dad put me in the cab of another old International K-model—he let me try to work the clutch and the shifter, and then I’d hurry to reach my toes to get to the throttle. ‘Oh, we’ve got a little truck driver here!’ he’d say.” After Ron got back from serving in the military he did just that, sliding behind the wheel for his father’s business.

Come 1981, father and son were partners, looking for a truck to carry loads of topsoil. Ron found what would eventually become Nell just south of Erie, Pennsylvania. Sitting in a salvage yard, she was a retired fire truck, a pumper from the Perry Highway Hose Company. Ron brought her home and set about converting her to a dump truck.

Though Ron retired from logging in 2013, he’s kept delivering mulch and topsoil to customers within a 30-or-so mile range of Geneva, Ohio. That same year, Nell got a few upgrades.

Like any vehicle enthusiast, Ron beams when he talks about the care he’s put into the truck. “Originally, she had an 89-horse gas engine,” he said. “I replaced that with a 6BT Cummins out of a school bus—it’s about 160 horses or so—and backed that up with a six-speed manual. With the 3.70 gears I installed in the two-speed differential, it’ll get almost 11 miles to the gallon.”

Some work days are light, with just three or four deliveries. Others are almost nonstop; a few weeks ago he had 12 in a day. That’s a lot of work for any truck, much less one that’s nearly 80 years old.

“I’m changing the oil later today,” he told me when I asked about his maintenance regimen. “Going to cut a thousand miles off my intervals—I’m still ahead of the mileage schedule, but it’s looking a little dirty. All that stop-and-go [driving] adds wear,” Ron said. He mentioned that a brake issue laid Nell up for a little while last year. Other than that, she’s been dead reliable.

Nell’s not the only old vehicle that sees regular duty in Ron’s fleet. His daily driver, Twinkie, is a red ’56 International S-100. I asked about the name. “Well, my wife named it Stinky because its exhaust fumes smell a little bit from overgassing,” he said. “I’m still fixing up the Pontiac 400 V-8 that a previous owner stuffed into it. But we can’t have a truck named Stinky, so Twinkie it is.”

In the warm months, if he and Fiona aren’t in Nell, there’s a good chance Ron’s out and about in this little red International pickup. It’s a utilitarian classic that’s perfect for Ron’s day-to-day—enough room out back to carry tools or parts for his work, but still an expression of the brand he’s enjoyed his entire life.

All of Ron’s vehicles have the familiar feel of a quality tool, etched from use but well-maintained and ready for the next job. Even the tractor he uses as his lawn mower, a 1953 Ford Golden Jubilee, could pass for a showroom display model if you took a minute to brush the grass from its tires.

I talk with Ron a little longer, learning about Brutus and Big Red, his two flatbed trucks, and another 1956 S-100 he’s restoring. “This one’s for the gentleman farmer,” he said. “It’s got the deluxe interior, an automatic transmission, and power steering. Maybe two percent of these trucks came off the line that way.” I picture this S-100, restored, with Ron cruising through town and Fiona peering out the open passenger window, and wonder what they’ll decide to name it.

For many vehicles, especially work trucks or old pickups, survival often comes down to luck. If they’re fortunate, they find someone willing to get them going again or strengthen them for a new life. That truck really hits the jackpot if it finds someone like Ron, who uses it as intended. We’ve all got choices when it comes to the people delivering our yard materials. Next time you’re in need, try to find the guy with the cool old rig. I promise you’ll enjoy the conversation.

***

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When discussing the ascendant ’90s-era collector-car market, you’d be forgiven for thinking primarily about Japanese vehicles. It’s hard to escape spectacular Nissan Skyline and Toyota Supra sales, let alone this year’s dramatic Acura Integra Type R auction record. However, when we saw a 15,000-mile 1993 Volkswagen Corrado SLC sell for $53,550 on Bring a Trailer, it served as a good reminder that Japan doesn’t have the market cornered.

The Corrado’s potential as a future collector car wasn’t a sure thing at the start. As the stablemate of and eventual replacement for the popular Scirocco, the Corrado didn’t start off on the right foot. Improvements over the Scirocco drove costs through the roof, and performance from 1988’s top-line G60 supercharged 1.8-liter engine was anemic. Then came the introduction of the VR6 engine in 1992.

The 2.8-liter six-cylinder’s narrow, 15-degree V layout squeezed 178 horses into the tight confines of the Corrado’s engine bay, dramatically waking up straight-line performance. VW used suspension and other components from the Mk III Golf to help integrate the engine into the Corrado, and the body grew a more aggressive hood and fender flares.

The change in powerplant led to critical success, but the problem of price remained. A VR6-equipped Corrado SLC carried a base price of $22,540 in 1993—almost $49,000 today. The Ford Probe GT that beat the Corrado SLC on its way to winning Car & Driver’s December 1992 sport coupe comparison test cost a comparatively paltry $15,504, just over $33K in today’s dollars. Whether the Corrado cost too much for the segment, too much for a VW, or both, the VR6 couldn’t save Volkswagen’s sports coupe. Corrado production ceased after 1995.

The redeeming traits of the VR6-equipped Corrado SLC and its slow sales relative to the competition have paid dividends for it in today’s market. Hagerty Price Guide’s #1 condition (Concours) value for a 1993 Corrado SLC is $57,300, just a touch north of where this BaT sale landed. Compare that to a $31,400 #1-condition value for a 1997 Honda Prelude SH, or $33,100 for a similar-quality 1993 Mitsubishi Eclipse GSX. The Corrado isn’t likely to cross into legend status like the Integra Type R, but it clearly has built a strong case for itself against most of its Japanese sports-coupe competition.

This particular example benefitted from a few factors. At 15,000 miles and in pristine shape, it may be one of the cleanest Corrado SLCs in the country. Mild modifications don’t tend to hurt cars in this segment, and the Borla exhaust on this example will only serve to highlight the VR6’s growl. The photographic presentation—a hallmark of Bring a Trailer seller 911r—exhaustively portrayed every detail of the car and gave the Corrado the glamor a car in this condition deserves. Finally, the right person was in the room: According to comments, the buyer is Dave Schouster, owner of Eastside Motorsport, a VW shop that’s been steeped in VR6 work for decades.

$53,550 might sound like a lot for a Corrado—many people thought the same thing when it was new, too, but die-hard fans are still enthusiastically plunking down cash on their favorites. The battle for superiority in the ’90s sports coupe segment lives on, decades later.

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Allegations of fraud are rare in the world of high-end collector cars. When such claims do happen, they reverberate like a shockwave through the comparatively small community. The implications on people, restoration shops, and cars at the center of the accusation can be lasting. At the end of May, noted Mercedes-Benz restorer Kienle Automobiltechnik became the focus of an investigation by German authorities, who suspect the company created a duplicate vehicle using the chassis number of a car that had not come to market in decades.

The car that prompted the scrutiny is a 1961 Mercedes-Benz 300SL roadster that hasn’t been registered in 50 years. The car, a disc-brake example painted in Fantasiegelb (Fantasy Yellow), was featured in the 1961 Geneva Motor Show and repainted red shortly thereafter. It recently sold for €1.6 million ($1.74 million USD). When the new owner went to register the car in Germany, they discovered that another 300SL was already registered with that chassis number—a Fantasy Yellow example sold through Kienle in 2019.

The joint press release from the offices of the public prosecutor and the Baden-Württemberg State Criminal Police states that Kienle’s private residences and headquarters were searched, extensive evidence recovered, and that the investigation is ongoing. Meanwhile, Kienle has issued its own press release, asserting that the suspect car was never in its facility for the purposes of restoration. Rather, Kienle states, the car was in its custody because Kienle was serving as broker in the transaction. (The release also recommends buyers seek an expert report that identifies potential counterfeits, though no such report was ordered in this instance.) Kienle says it intends to pursue legal action against those who brought the allegations.

Those with longstanding involvement in the classic Mercedes-Benz world were shocked by the news: “It was very surprising to hear Kienle’s name come up in something like this,” said Canada-based Rudi von Koniczek, himself a leader in the 300SL restoration world. “There are instances where people have built a fraudulent car and sold it as the real article. That’s criminal—that’s wrong. But for Kienle brokering the sale, that’s stepping in shit and not knowing it. I feel for him and his employees. I think Kienle was involved in unfortunate circumstances, and that can happen to anyone.”

When authorities seek to find the truth amid cars claiming the same identity, they often reveal a tangle of allegations and assertions of what really transpired. Collectors are reminded in these instances of the perils surrounding high-dollar purchases. Mistakes happen, but when the potential exists for a big payday, there exists strong motivation to knowingly create a counterfeit car.

“Chassis numbers that no one has seen in years are fertile ground for the criminal mind,” said appraiser and Hagerty Price Guide publisher Dave Kinney. “There will always be an element that will go to great lengths to make a fake designer purse, watch, or Rembrandt. Cars present their own level of complexity, not just for the myriad parts involved but also because of serial numbers. With every model, there will always be a few ‘missing’—those [cars] that have been wrecked beyond repair, those that were secreted away in a quiet place, and those sent to off-the-radar countries.”

What’s a buyer to do? Recourse for consummated deals of cars that are later discovered to be fakes can prove challenging, to say the least. It’s best to perform as much diligence as possible on the front end. If buying from a broker, confirm what research they have done on the vehicle. Then, since there’s always a chance that people can be fooled, the best safeguard (as Kienle suggested in its press release) is to hire an expert. This can be an extensive, expensive process, but the upfront cost is justifiable given the peace of mind it offers: that your car won’t be recast as a replica and devalued by evidence that surfaces in the future.

Such experts—whether a reputable restoration shop, a qualified marque historian, or even Mercedes Classic itself—pore over available documentation and the car itself in forensic detail. Koniczek has performed such services for clients. “We examine bolt types and sizes, types of weld, the fonts and positioning of the stampings,” he said. Koniczek has even examined the thickness of the metal on various points of the car in pursuit of answers. Counterfeiters can get close, but minute variables tend to come to light in such inspections. Still, nothing is guaranteed.

The collector car world will watch as the Kienle case unfolds in Germany; authorities are not only investigating the 300SL sold in 2019 but also looking for evidence of other duplicates in the shop’s history. In the meantime, what’s transpired is both a cautionary tale and an unwelcome mark on restoration shops. For that reason, Koniczek contends, respected players have little reason to cut corners. “Those who are in the business for a long time have too much to lose. The guys who do it deliberately, they’re short-lived,” said Koniczek. “What’re they accomplishing? They’re putting a blight on every restorer. Why not just play it straight?”

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The truck’s 360-cubic-inch V-8 fired up right away and settled into a low but stable idle. Dave slid the column shifter into drive, and the ’79 Power Wagon sauntered out of his driveway.

“Glad the rain held off,” I said, cranking down the passenger window.

Dave nodded, smiling a little. “Yeah, it’s perfect today.” It was the kind of back-and-forth that goes with nervous anticipation—we were happy about the blue skies, but both of us wondered about the drive ahead. “I’m still learning to trust her, you know?” he said, patting The Pumpkin’s dashboard.