i'd like to offer a few thoughts. first, i have been watching mecum and barrett-jackson over the last six months and there is NO question that the market for muscle cars is falling. other than around 5 or 6 "special" or "unique" muscle cars 1964-1971, ALL "original OEM" muscle cars from that era are dropping in price. for $50k or less, you can buy about any Detroit muscle car you want already restored and ready to drive. Roadrunners, GTX, Cuda's, Super Bees, Chargers all these mopars can be purchased now for between $30-$50k. even the hemi cars are now below six figures and are in the $75k-$90k range. the same is true for Pontiac's, Fords and Chevys. yes, i know some guys are still getting big money for their mopars in private sales, however, the cars going through the major auctions are dropping in price. now, of course, the auction cars may have hidden problems or some other kind of issue that reduces their price. you can't tell much about a 440 GTX being pushed across the mecum stage that hammers for $45k. but one has to assume that the cars that are taken to these auctions are presented and prepared to bring the most money - i.e. - they are "good" cars. i would say the Mr. Norm 440 69 Dart that sold for $41k is a very good example of where the market is for "muscle cars" right now. i have watched the collector car market now very closely for the last 10 years. at the beginning, the restored cars were bringing big money because they were still in short supply and the potential buyers were still around - like guys who had made some money in life and were in their late 50's early 60's. so "everyone" started restoring these cars and the "supply" went up substantially. however, the potential buyers are dying off! people who know about a 68 Hemi Roadrunner and wanted one in "high school" are now in their 70's! they are experiencing health problems that are overcoming their love for old muscle cars. AND, the very rich guys who bought these cars as "investments" 10 years ago are being told by their financial advisers that NOW is the time to sell these cars. the drop in market values of these cars is a reflection of simple market forces: excess supply, decreasing demand. unless a car guy really wants to do all restoration himself, if you calculate the time, labor, cost of parts and body work and the cost of the original car - you are very close to investing the same amount of money you would to just go to mecum or barrett-jackson and buy a finished car. i will make a prediction right now: in 5 years or maybe sooner, you will be able to buy ANY "restored" muscle car from your 60's or 70's high school days for $20-$25k. there simply will be NO reason to buy an "old car" and spend a year "restoring" it. i certainly welcome hearing anyone's opposing opinion on my analysis. i will also add that i am currently working on my own 69 Cuda M-Code fastback that i hope to have on the road for this summer. at current prices, i will probably end up with just about as much money in this car as it would bring at an auction - and i will be doing the body work and paint and most of the mechanical work myself.
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