We’ve all heard about the million-dollar Vettes or ’71 Hemi Cudas because numbers like that capture the attention of even the shallowest observers.
A seven-figure selling price is a good headline and it gives the car hobby publicity, but it’s a dual-edged sword.
Nothing could be further from the truth.
Let’s use the classic 5-6-7 Thunderbirds as an example. I remember when a mint 1955 Thunderbird would sail though a major auction with a 70-90,000 sold sticker–and most good examples sold for 50,000 and up.
Now you can find a decent ’55-57 T-bird for around 25K(USD)– overall their prices have dropped 14% in the last few years. Any competent price guide will tell you that, but what they don’t tell you is obvious–those prices put those cars in the range of the average guy.
There are many reasons for the decline, but the biggest one is obvious–guys who bought them are either dead or in rest homes. Call it a passing of the torch, but the torch is running out of fuel and the next gen doesn’t hold the same fire for 1st gen Thunderbirds.
Cars from the 1950s are plummeting in value faster than Wile E Coyote going over a cliff because Gen Z thinks they’re kind of cool—but not cool enough to plunk down money that would look better in a new Nissan.
Take the Mercury Turnpike Cruiser.
These cars were massive and expensive in the 50s, but they aren’t rock stars in 2024 because they’re not practical, so there was a short, but dedicated list of guys who would buy them. None of them were born in 1992 so you can pick up a solid Turnpike Cruiser for 12-14K (USD).
The 1959 Dodge is another good example.
These cars average from 14,000-high 20s according to recent sales at auction. You’ll get a solid driver for that kind of money and it’s still well under what it would cost to restore a basic ’59 Custom Royal.
The 60s cars are leveling out in price too—but not as dramatically as the 50s iron.
For example, you can find a good example of a 1966 Chevelle SS396 for under 50K if you’re willing to research auctions and online sales.
50K was a starting point for a decent SS396 a few years ago but again—serious buyers already own these cars, so they’re starting to show up at estate sales. A declining number of buyers is never a positive trend in commerce.
1st Gen Broncos were one of the hottest commodities at auctions a few years ago.
These humble little trucks were routinely sailing past the magic 100K number, so every guy on the planet with a rusty Bronco started building them for sale. Ford even brought back a 21st century version, but by then the gold rush was over. Now 40K is a regular sale price for a Bronco—the horse definitely threw the rider in Bronco-land.
The VW van (Type 2 Bus) is the last example of fluctuating prices in the hobby.
A few nationally televised auctions sent their prices through the roof after a few drunk guys channeled their inner 60s hippie vibe and pushed through the 100K barrier with lots of room to spare. This trend continued for a few years until some guy realized they built these vans in South America into the 1970s. That inspired a few road trips and suddenly the auctions were full of these vans—many with add-on extra windows. You can easily find one in 2024 for 40-50K—that’s about right for an under-powered hippie-mobile.
By: Jerry Sutherland
Jerry Sutherland is a veteran automotive writer with a primary focus on the collector car hobby. His work has been published in many outlets and publications, including the National Post, Calgary Herald, Edmonton Journal, Ottawa Citizen, Montreal Gazette, Saskatoon StarPhoenix, Regina Leader-Post, Vancouver Sun and The Truth About Cars. He is also a regular contributor to Auto Roundup Publications.
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