2013 has come and gone and during the year, the collector car market saw an up-tick in classic car values over all. It’s still all about condition, originality and horsepower (aka speed). Generally speaking:
¨ High end exotics are up 15 to 20%,
¨ Early 1920s and 1930s models are up 10 to 15%.
¨ 1940s are up 9 to 12%
¨ 1950s are up 8 to 12%
¨ 1960s are up 12 to 16%
¨ 1970s are up 8 to 12% and
¨ 1980s are up 4 to 8%.
Still the best bets are convertibles, hardtop coupes, limited production models and documented cars and trucks. Buy documented autos. If you’re selling, get the paperwork together before you attempt to market your vehicle. Watch for an early jump in values in 2014 due to the supply and demand at highly publicized auctions. Restoration is still a costly process. Better to buy a restored vehicle with documentation about who, what, when and where. This helps to increase the investment potential.
2014 may be a good time to buy at auction. Auction advertising that includes the vehicle ID number ahead of the sale assists in the pre-purchase inspection and qualification process. Some of these autos are going to be great investments in the future. For the right autos, classic car values could double in the next five years.
Remember to always buy what you like and will enjoy driving and sharing with others. Car guys and gals are some of the best people on the planet. I know this from my 45 plus years working in the automotive field. Also, remember that demand will continue to grow and supply will become less for the best.
Hope to see you on the road. As always, safe travels for you and yours. Larry Batton