I just don't understand the market...
 

What is driving the prices of some models in the open market these days?

Is it all sentimentality of the Gen X and Millennial generations that now have money?? I kinda understand the VW bus and Bronco trending, but the auctions below are a bit surprising to me, having grown up during this era.

Thoughts?


I understand the low miles and like new condition for both of these, but still...


16k-Mile 1997 Chevrolet Tahoe LT 4×4 - $41,069
https://bringatrailer.com/wp-content...?fit=940%2C627


38k-Mile 1991 Cadillac Brougham d’Elegance - $70,000
https://bringatrailer.com/wp-content...?fit=940%2C627


I guess I am clueless about the import market, even if this is an ultra-rare 1981 924 variant with @ 280hp...

1981 Porsche 924 Carrera GTS Clubsport - $261,000
https://bringatrailer.com/wp-content...?fit=940%2C627


And yet, a pristine, low mile (6K) / original owner 2005 GTO stored in a plastic bubble (see last pic of auction) taps out at $25K+ <sigh>...

Original-Owner 2005 Pontiac GTO 6-Speed - $25,500
https://bringatrailer.com/wp-content...?fit=940%2C629

The market trends you feature above are hard to fathom in many ways but there is no single factor that makes these auction results sensible, IMO. I think these are the contributing factors: 1. Cars and trucks like the ones pictured are no longer being made period 2. These cars stand out among a world of jelly bean, or white and gray SUV's. 3. Even at these crazy prices, they still cost less than an equivalent new one. (Such as the 41 K Tahoe that new would be touching the 75K mark new). 4. General distaste for everything needing a TV screen to operate, all having nanny controls, start/stop features and other annoying features. 5. Nostalgia is always a factor 6. Lack of manual transmission new cars in the case of the sports cars 7. Fear of being forced into electric vehicles I am sure there are many more I missed.

Porsches are hot, and that particular one is an extremely rare and desirable model.

The 88-98 Tahoe and Suburban are very hot right now. Pristine examples are fetching crazy money. When I sold my 93 2500 suburban with 454 and 4wd a few years back, I thought I was above market. Now its worth double that, and has been sold twice more. I replaced it with a 2005 Dodge crew cab Cummins 2wd dually, and its now worth 8k more than I paid. Strange times indeed.

Cars from the 80s and 90s are going crazy right now, and show no signs of slowing down.

My good friend just sold this 1962 23-window Deluxe Samba, private party sale.

It looks just as nice in person as it does in the pictures, immaculate and one of the best of the breed.


Sold for $160K

WHOA,

Those VW are way cool. You never ever see them, even back in the day.
Usually at the beach with surfer dudes back then.

Thanks for that rush.

Coworker of mine has that exact color model in decent original condition. Think his is a 1968.

Probably a ‘67 if it has the split windshield, it was last year for that identifying feature before the major redesign in 1968 that had a one piece curved windshield and roll-up side windows.

They’re bringing huge money, some very nice 23-window examples have gone for over $200K. The older the bus the more valuable, and of course the body style plays a big part as well.

Commercial vehicles bring considerably less in the same condition, my ‘66 single cab pickup pictured next to the Samba might bring $35K. Both were restored by my friend.

Any old full size pickup right now fetches much more than it did 5 years ago. I used be able to buy fairly nice Ford IDI diesels for $3,000, now they’re asking $4,000 for rusty junk.

That Porsche may be a special limited edition model of the 944. The rest of those sellers need to stop smoking that crack.

It's a 924, the predecessor to the 944. According to the BAT information, it's one of only 15 built for road use, and only has 500 miles on it.

Many times rarity trumps desirability.

The country is awash in easy money. Federal Reserve printers going like mad. Housing prices also through the roof due to low interest rates. Not sure this is going to end well.

Mortgage interest rates have been extremely low for 20 years now, not sure if that would be the cause of recent increases in housing prices. 30 year fixed rates have only gone down about 1 - 1.25% in the last 18 years.

Not necessarily. Desirability is more important than rarity. Square body chevys are through the roof right now, as well as the first gen ford broncos. They made those by the tens of thousands, if not more. I dont think I have seen a 69 trans am sell for more than $200k and thats being generous. If it were a dodge with a one of one unobtanium air in the tires it would be a million dollar car.

I have several motorcycles that are one of only a handfull in the world. They are still valued 100 times less than a comparible Harley or Indian, again of which thousands were made.

I think you are both right! There has to be the desire or how rare it is doesn't matter. An AMC Gremlin with a Levis interior and green exterior may be rare, but without desire, it's worth nothing as it should be. Now take a Pacer, which is not really much different than a Gremlin, and make it a centerpiece in the movie "Dumb and Dumber", and now you have the desire. That Pacer that was worth scrap value of $400.00 is now worth 24K or more. So I believe desire drives the price initially of the car model, then rarity within the model takes it to the next level.

The guy who owns Extreme Bonnets, (Turbocharger Parts) in the Detroit area, purchased a basically RUST FREE 1964 American Motors, 220 Sedan (if I remember correctly), and dropped a 505 cid Twin Turbo Engine in the car after doing a bunch of chassis/cage work to the car. I saw the engine run on the Dyno at Steve Morris shop several times.

So you really don't need to have a Rust Free Pontiac or Chevrolet if you want to go street racing. The money you save on Body Work can go into the chassis/cage and to a nice #2 or #3 paint job.

Many are going down this path but most will not be at the power level he is at.

Have to believe there are still very nice, Tempest and Lemans vehicles still out there in
very good body and chassis condition that older people own.

A plumber who came to the house told me about a very nice early Mopar (1965) that he bought for $2800 from a family in the last week. I think he said it was a 2 door Belvedere hardtop.

Tom V.

Anything Honda is getting crazy dollars. A low (or no) miles S2000 can easily bring $40k. A similar Solstice GXP with more h.p. more torque and comparable handling won't even get half of that. The sales prices when new were within 2k.
And, everyone says how much fun they are to drive...if that is the case why are there so many low mileage ones on the market. Every week Bring a Trailer has two or three listed. Last one with close to 100k sold for $30,000. A similar Solstice would be hard pressed to reach 10k.
I,m giving some serious thought to selling my 25 yr old Honda snowblower. It is very low miles and all original except for belts and tires. I'm thinking $2,500-3,000.

An observation on older parts:

Last year, folks stayed home, and worked on their cars. We sold a LOT of carburetor rebuilding kits.

This year, folks want rebuilt carburetors. LOTS of money out there, and seemingly lots of folks that either do not wish to, or do not have the ability to rebuild their carburetor. We turned down 10 carburetor rebuilds on Monday alone!

Is this the stimulus money getting new people into the car hobby?

Anyway, right now there is a terrific market for someone that wanting to go into carburetor rebuilding.

Jon.