Barrett-Jackson in Arizona offers affordable cars, classics, and rarities

Barrett-Jackson in Arizona offers affordable cars, classics, and raritieshttps://d2d49q62n92ko8.cloudfront.net/wp-content/uploads/2020/01/23085134/Barrett-Jackson-2020-Arizona.jpg

Barrett-Jackson in Arizona offers affordable cars, classics, and rarities. Those who like horses go the Kentucky Derby. Clothing trend-setters go to Fashion Week in Paris. People who love cars head to Barrett-Jackson.

The event each year in Scottsdale gets some 300,000 enthusiasts of classic and collectible cars. Some are affordable, most are not, but buyers don’t have to be a millionaire to get in the action.

“This year I am looking for a ’55, ’56 or ’57 Chevy Nomad wagon,” Montana car dealer Bill Rundle said.

Lisa Vecchi of Minneapolis located her dream car just inside the front door. “Right over here, this is the one I want,” she said. “The white Corvette with the red interior. It is a cool, classic design you don’t see anymore.”

Every collector has to start somewhere, and like any other investment, price is determined by supply and demand. Fox News asked owner Craig Jackson where the market is heading and how the average car lover could get in for $10,000 to $30,000.

“You have to look at what people who are now coming into disposable income grew up wanting and grew up around,” Jackson said. “And, it doesn’t have to be a two-seat roadster. It can be what they wanted or couldn’t afford. Look at the demographics, then look at what car was hot when they were growing up. Usually within that group, there are sleeper cars that haven’t been picked up yet.”

So, the market for pre-1960 cars may be at its peak. Baby boomers, once having disposable income from their prime earning years, are now entering retirement, with many getting frugal with savings and worried about health care.

On a different note, many young buyers, raised on films like “Fast & Furious,” have been looking for the cars of their youth, suggesting a stronger, growing market for 1980s and early-1990s vehicles.

Without naming individual vehicles, Jackson suggested two groups he’s expecting to appreciate: the Japanese cars in the 1970s and 1980s, and cars with stick shifts, or manual transmissions. Another suggestion for collectors: Try to locate rare cars within a model group, meaning the first or last in a product line, and cars with manufacturer upgrades, such as specialty trim available only on a handful of cars or a more powerful engine.

Some under-the-radar cars that could be going higher may include Pontiac Fieros, Nissan 280, Toyota MR2s, 300 Z-cars, and AMC Gremlins and Pacers. The Barrett-Jackson auction recently auctioned off a 1997 Toyota Supra Anniversary Edition for $176,000 and a 1999, four-cylinder Acura Integra R for $63,800.

Unlike muscle cars from 1960 and 1970, which may be impossible to locate at reasonable prices, some early SUVs are starting to go up in value, including Ford Broncos and Chevy Blazers, Jackson said.

While boomers sought Chevy Chevelle Super Sports and 427 Corvettes, younger buyers may choose Honda VTECs and their 7,000 rpm redlines.

At Barrett-Jackson, cars that sold early in the week fetched lower prices and often showed clues as to where a market might be going. This year’s group included a 1967 VW Beetle for $20,900, a 1970 International Harvester Travelall, 1985 Chevy K5 Blazer for $20,350, and a 1988 Toyota SR5 pickup for $21,450.

Collecting cars isn’t cheap by any means. First of all, you must have garage space, then there is restoration costs and upkeep. And, while one can not drive stocks and bonds, the lower the miles, the higher the value. So, there is always a balance between the joy of ownership and the depreciation coming with it.

“The first rule is – love what you buy,” Jackson said. “Don’t just buy what you think is going to go up in value. Buy what touches your heart.”

A 1974 FORD BRONCO SELLS FOR $650,000 AT BARRETT-JACKSON

Barrett-Jackson in Arizona

Investing in collectible cars can be wise, but there are no guarantees they’ll appreciate. It’s like buying stocks. Who knew in 1980 that the DeLorean or Google would make investors rich? Yet, that didn’t stop buyers in last week’s Scottsdale auction from trying to pick the next 1967 Camaro.

Here are some expert predictions for those hoping to get into the collector car market for less than a fortune. Let’s start with Hagerty’s, the high-end auto insurance underwriter, last three years’ recommendations.

2000–2006 BMW M3

1976–1986 Jeep CJ-7

1989–2001 Mercedes-Benz SL

1994–1998 Toyota Supra Turbo

2001–2005 Porsche 911 Turbo

1993–2002 Pontiac Firebird Firehawk

1969–1972 Chevrolet Blazer

1972-73 BMW 3.0

1997-2004 Porsche Boxter

1984-93 Saleen Mustang

1996 Corvette Grand Sport

2004-07 Subaru Impreza WRX STI

1970-95 Land Rover Range Rover

1970-76 Porsche 914

1998-2002 BMW M Roadster

1984-2001 Jeep Cherokee

1997-2001 Acura Integra Type R

1988-91 Honda CRX SI

1971-80 International Harvester Scout

1999-2005 Ferrari 360

1990–95 Volkswagen Corrado

A panel of experts hosted by American Car Collector magazine at the Barrett auction last week offered this list:

1997 Dodge Viper

1969 Dodge Charger, Buick Riviera, Buick Grand National

1990-95 Corvette ZR1, Dodge Ramcharger SUV

1983-86 Ford F150

IROC Camaro

1965 Chevrolet C-10 Pickup, Dodge Viper, Jeep Wagoneer

1960-63 Chevrolet C-10

Cadillac CTS-V, Pontiac G8 GT

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In 2015, Road and Track magazine included these models:

Saab 9-5

Lotus Elise

Dodge Hellcat

Cadillac CTS-V Wagon

Audi TT RS

Subaru WRX STI

Pontiac Solstice coupe

Dodger SRT Viper

Porsche Boxster Spyder / Cayman R

Honda 2000

Chevrolet SS/Pontiac G8 GXP

Nissan GTR

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