One of the old car hobby’s most influential magazines, Hemmings Motor News, recently carried an editorial stating that the “…old car hobby is not only alive and well, but it's growing, big time." Car club memberships and car show attendance are both steadily on the increase, everywhere around the country. Values of collector cars, especially those from the 50's and 60's, also continue to increase, fueled by Baby Boomer demand.
Rick Carey, auction editor for Car Collector magazine, agrees. “Classics are definitely going up in value. I know this from following sales trends at auctions. They [collectible cars] are extremely popular right now, particularly among baby boomers born in the 1950s and 60s, who have reached a time in their lives when they are nostalgic for the good old days, and now have the money to buy the car of their dreams.”
Carey attends about 25 collector auctions a year all over the United States and says the muscle car segment is very hot. If you bought a 1970 Chevelle SS 454 LS6 Hardtop at an auction in 1999, Carey says you would have likely paid around $17,100 for it. He points out that a comparable vehicle sold for $42,135 at auction in 2002 and for $71,280 at auction just two years later.
The price jump is more significant in a 1970 Plymouth Hemi ‘Cuda. In 1998, a well-maintained vehicle sold for $59,535 at auction. Just six years later in 2004, a comparable model went for $159,300.
American Hobbyist has introduced a number of online tools to help you tap into this hot-hot-hot market easily and cost-effectively. In fact, this entire website has been re-designed to ensure that your online experience with us is easy and allows you to get right down to business...with a little fun mixed in!
