johnnymk
06-03-2005, 04:47 PM
By muscle cars, I mean 60's and very early 70's cars which were popular during those years and had a 4 barrel V8. There are probably other definitions, but for now, that's what I am talking about.
I go to the Atlantic City Convention Center every February which hosts an auction for cars dating from around 1925 to current years. There are street rods, hot rods, muscle cars , exotic imports and everything in between. It is similar to the Barret Jackson auction, but appealing to the everyday guy or gal.
They have an area for cars which have a fixed price. Well, this past February, I couldn't believe how the prices of muscle cars have gone up. I nearly gasped as I saw '70 Chevelles going for $30K, '67 GTOs and '69 Camaros going for $35K. Forget 60s Corvettes. They started at $40K and went way up.
I was trying to figure why these cars have increased dramatically recently.
I believe that (1) the older boomers want to get a car of their dreams before they die, (2) There is a shortage of these cars, (3) Rides, American Hot Rod and the other shows is increasing the interest of them, (4) less people are doing work on older cars and therefore paying big bucks to shops willing to restore them. In addition, these older boomers are probably tapping into home equity loans because of the increased value of their homes, and to a minor degree, their parents are dying and leaving them with enough cash to spend on these dream machines.
Plus if you look at cars that had unique designs with powerful engines: Around 1973, engines were derated because of environmental concerns and the first oil embargo. Most cars after that era were very plain, especially during the 70's up until the late eighties. Even the Mustangs and Corvettes were ugly until from 1974 to around 1979. There really hasn't been much in the line of exciting cars since those years, except for a couple of unique cars like the Buick Grand National, the Dodge Viper, a few Firebirds and 80's Mustangs and a few others which I can't think of right now.
Any other factors you can think of?
I go to the Atlantic City Convention Center every February which hosts an auction for cars dating from around 1925 to current years. There are street rods, hot rods, muscle cars , exotic imports and everything in between. It is similar to the Barret Jackson auction, but appealing to the everyday guy or gal.
They have an area for cars which have a fixed price. Well, this past February, I couldn't believe how the prices of muscle cars have gone up. I nearly gasped as I saw '70 Chevelles going for $30K, '67 GTOs and '69 Camaros going for $35K. Forget 60s Corvettes. They started at $40K and went way up.
I was trying to figure why these cars have increased dramatically recently.
I believe that (1) the older boomers want to get a car of their dreams before they die, (2) There is a shortage of these cars, (3) Rides, American Hot Rod and the other shows is increasing the interest of them, (4) less people are doing work on older cars and therefore paying big bucks to shops willing to restore them. In addition, these older boomers are probably tapping into home equity loans because of the increased value of their homes, and to a minor degree, their parents are dying and leaving them with enough cash to spend on these dream machines.
Plus if you look at cars that had unique designs with powerful engines: Around 1973, engines were derated because of environmental concerns and the first oil embargo. Most cars after that era were very plain, especially during the 70's up until the late eighties. Even the Mustangs and Corvettes were ugly until from 1974 to around 1979. There really hasn't been much in the line of exciting cars since those years, except for a couple of unique cars like the Buick Grand National, the Dodge Viper, a few Firebirds and 80's Mustangs and a few others which I can't think of right now.
Any other factors you can think of?