Monterey Auction Decline: Can Muscle Cars Take Up The Slack?

An article over at autoweek.com states how the unofficial results of Monterey car week auctions are down over last years figures.
The figures are unofficial as some of the latest auction figures have not come in yet, but at present the figures are down from $392.7 million from last year’s $402.6 million total.

I bet you feel really sorry for them with this loss, but it does have a knock-on effect down the scale.
The top five prices for vehicles at auction are all European vehicles, unfortunately.

1. 1964 Ferrari 250 LM Coupe sold for $17,600,000 (RM Sotheby’s)
2. 1961 Ferrari 250 GT California SWB Spyder (closed headlight) sold for $16,830,000 (Gooding & Co.)
3. 1962 Ferrari 250 GT SWB Coupe sold for $16,500,000 (Gooding & Co.)
4. 1998 McLaren F1 LM Coupe sold for $13,750,000 (RM Sotheby’s)
5. 1953 Jaguar C-Type Works Lightweight Roadster sold for $13,200,000 (RM Sotheby’s)

As you can see, the prices of these top five cars are far more than the most rare muscle cars, but as the new age of muscle cars has come back with the offerings from Ford, Dodge and Chevrolet, it won’t be a surprise to see vintage muscle car prices slowly increasing over the coming years, maybe approaching the kind of value of the rarest of the European offerings.

It’s now time for muscle
as we mentioned in this post, http://fastmusclecar.com/news/why-classic-cars-are-a-good-investment/ a classic muscle car is a good investment. That post was to counter the opinion that vintage cars in general can be a good investment and arguably just as much work to maintain as any other vintage vehicle.
This means that there should be no reason why a vintage muscle car cannot eventually be in the same price bracket as a vintage Ferrari. The price of anything is really down to just how much someone is willing to pay for that thing. Mad words for some, but you only have to go back a decade or so where the most rare muscle cars now were worth not even a fraction of what they call for auction today.

The conclusion is to invest more in the classic car market and golden era muscle cars and the time to do it is probably now, as the values will continue to rise in the muscle car market.

Maybe the top investors now need to start looking at the Vintage muscle car market for their portfolios.

They will also get the added enjoyment and benefits of listening to a proper V8!

Click for More Muscle Cars For Sale – http://fastmusclecar.com/muscle-car-for-sale/

 

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