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Vintage Muscle Cars Are Roaring Back As High-Powered Investments

By Donna Bellevue , Mar 20, 2017 05:10 AM EDT
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BELVIDERE, IL - MAY 27: Auctioneers work to acution off a 1970 Plymouth Cuda convertible at the Mecum collector car auction May 27, 2006 in Belvidere, Illinois. The auction specializes in 'Muscle Cars; which are primarily defined as high performance two-door sedans and convertibles built between 1964 and 1971. Values of these cars have soared in recent years as baby boomers who remember these cars when they were young reach their peak earning years and view these vehicles as functional investments. Bidding for the Cuda reached $415 thousand, but the car with a reserve of $575 thousand did not sell. (Photo : Scott Olson/Getty Images)

Investing in vintage muscle cars is all the hype nowadays as one 1970 car could cost a whooping millions of dollars in auction. Buyers and sellers, most of them baby boomers, have rekindled their passion for the cars of their generation, prompting high-powered auctions of these classic cars. Financial analysts are even encouraging interested investors to put their money in these lucrative business since it looks like more and more people are getting interested in collecting these ageless vehicles.

The numbers that these auction accrue are staggering. According to valuation and insurance provider Hagerty, 3,489 vehicles from various auctions earned total sales approaching $260 million. Craig Jackson, Barrett-Jackson’s chairman and CEO, said that the market for American muscle cars remains incredibly resilient.

Demand for vintage American muscle cars from the 1960s to 1970s continues to grow, especially for "survivor" vehicles, he added. The high-profile Barrett-Jackson auction held each January in Scottsdale, Arizona, had evolved over the last decade into one of the best-attended classic car spectator events on the calendar. It is the biggest, and most lucrative of all the Scottsdale auctions, the Hot Rod reported.

However, it's not the only worthwhile auction as another half-dozen auctions compete for attention of business buyers and sellers. The top three auction houses for vintage muscle cars where you can start growing your investments on classic vehicles are RM Sotheby’s, Gooding & Company, and Bonham’s. Each occasionally serves up tempting muscle cars.

What's more surprising, is that not only classic muscle cars are in demand, per the Ionia Sentinel-Standard. More people invests on 1980s and 1990s Mustang, as several world records were set at auction for the Fox-body vehicle. This year, Barrett-Jackson sale offered one of the most historically significant Chevrolets of all time, Zora Arkus-Duntov’s CERV I, which brought the second highest selling price of the whole auction at $1,320,000.

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