As spring emerges across much of the country, classic car aficionados are uncovering theirvehicles and taking them out for a spin. Some of the more popularclassics include the Ford Mustang GT, Chevrolet Corvetteconvertible and the Dodge Charger R/T coupe.
|BlackBook, which provides independent vehicle pricing to theautomotive industry, had their valuation specialists analyze anumber of cars, and what they found might make you think twiceabout the vehicle you purchase today and its possible worth in the future.
|The manufacturer's price for these and many other classic vehicles was usually under $10,000, butin today's market, they can be valued at anywhere from $100,000 towell over $1 million. Why are they so valuable?
|“What makes a car a collectible over time includes any number offactors that include popularity, pop culture, and productionvolume,” said Eric Lawrence, director of specialty products atBlack Book. “Many people think today's uber-expensive vehiclesalways came with a hefty price tag, but these vehicles show that'sclearly not the case.”
|Here are 12 cars identified by Black Book that may have hadrather inauspicious beginnings, but are definitely consideredclassics today by collectors.
|Related: SUV craze shows no signs ofslowing
|
(Photo: Black Book)
|12. 1965 Ford Mustang GT
Trim: 289/271hp
|Body style: Convertible
|MSRP: $3,156
|Current value: $68,500
|Increase in value: 2,100 percent
|
(Photo: Black Book)
|11. 1957 Ford Thunderbird
Body style: Convertible
|MSRP: $3,408
|Current value: $85,000
|Increase in value: 2,900 percent
|
(Photo: Black Book)
|10. 1969 Chevrolet Camaro
Trim: Z28
|Body style: Coupe
|MSRP: $3,184
|Current value: $95,000
|Increase in value: 2,900 percent
|
(Photo: Black Book)
|9. 1957 Pontiac Bonneville
Body style: Convertible
|MSRP: $5,782
|Current value: $175,000
|Increase in value: 2,900 percent
|
(Photo: Black Book)
|8. 1968 Dodge Charger R/T
Trim: Hemi 426
|Body style: Coupe
|MSRP: $3,937
|Current value: $135,000
|Increase in value: 3,300 percent
|
(Photo: Black Book)
|7. 1967 Chevrolet Corvette
Trim: 427/435 hp
|Body style: Convertible
|MSRP: $4,677
|Current value: $165,000
|Increase in value: 3,400 percent
|
(Photo: Black Book
|6. 1959 Cadillac Eldorado
Trim: Biarritz
|Body style: Convertible
|MSRP: $7,400
|Increase in value: 3,500 percent
|
(Photo: Black Book)
|5. 1965 Porsche 911
Body style: Coupe
|MSRP: $6,490
|Current value: $250,000
|Increase in value:3,800 percent
|
(Photo: Black Book)
|4. 1948 Chrysler New Yorker
Trim: Town & Country
|Body style: Hardtop
|MSRP: $2,725
|Current value: $140,000
|Increase in value: 5,000 percent
|
(Photo: Black Book)
|3. 1971 Pontiac GTO
Trim: Judge
|Body style: Convertible
|MSRP: $4,070
|Current value: $225,000
|Increase in value: 5,400 percent
|
(Photo: Black Book)
|2. 1967 Shelby Cobra
Trim: 427
|Body style: Roadster
|MSRP: $7,500
|Current value: $1.3 million
|Increase in value: 17,000 percent
|
A 1971 Plymouth Barracuda convertible sells for$3-5-million. (Photo: Mecum Auctions)
|1. 1971 PlymouthBarracuda
Trim: Hemi 426
|Body style: Convertible
|MSRP: $7,500
|Current value: $2.5 million
|Increase in value: 58,000 percent
|A number of factors affect the value of these cars, includingthe condition of the vehicle, how well it has aged, what flaws itmay have in the body, the type of replacement parts used to repairit, the mechanical condition it is currently in, whether it hasfactory or aftermarket options, and the type of transmission. It isalso important to document any repairs or improvements, since theywill also affect the value of the vehicle.
|Classic vehicles are generally more than 10 years old and haveparticular historic interest because of exceptional workmanship orbecause their production was limited in some way. Any vehicle morethan 25 years old is considered an antique.
|Related: American Modern set out to rebuild this classic hotrod from the frame up: Here's how she took shape
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Patricia L. Harman
Patricia L. Harman is the editor-in-chief of Claims magazine, a contributing editor to PropertyCasualty360.com, and chairs the annual America's Claims Event (ACE), which focuses on providing claims professionals with cutting-edge education and networking opportunities. She covers auto, property & casualty, workers' compensation, fraud, risk and cybersecurity, and is a frequent speaker at insurance industry events. Contact her at [email protected]
