Investment?

One thing that amazes me is the ever growing price tag for classic muscle cars. I watch Barrett Jackson every year with total awe. I regularly peruse eBay looking at some old hunk of steel that needs an unreal amount of work going for thousands of dollars, and restored cars going to hundreds of thousands of dollars. I remember around fifteen years ago my dad and I looked at a 1967 Mustang 2 + 2 fastback. It was a complete rolling car lacking only an engine, transmission, and front seats. The body was in great shape. Selling price? $1000! I still kick myself to this day for not figuring out a way to either get it myself or talking my dad into purchasing it. These stories can go on and on. My favorite thing to do growing up was look at cars. There were so many great deals back then. My dad likes to go on about all the cars he owned growing up. Everything from a 70 Mercury Cougar Eliminator to a 57 Chevy. Unreal cars he bought for peanuts compared to today's money.

One thing I always wonder is, will fox body mustangs ever bring big money? Sure, certain models already do. The amazing thing to me is how much these cars still bring. Since there certainly is not a lack of these cars to buy, one can only assume that it relates to their sheer popularity. It reminds me of a story my dad likes to tell. Back in the 1960's, he wanted a Thunderbird. He looked around and priced them, but they were just too much money. He found a 57 Corvette in town for a deal ($1000). So that's what he got. Kind of a similar car, much less investment. The funny thing is that he still owns this car and is currently restoring it.

Back when I was in high school I had a similar experience. I wanted a Mustang. They were too expensive. I ended up getting an 87 Camaro (I know, I know). Funny how in both cases, the Fords were more coveted and expensive!

I've recently noticed that original, low mileage fox bodies are going for big bucks. Seems like people in my age range are settling into higher paying jobs or are having a mid life crisis and trying to relive their youth. To me this is the same phenomena that occurred with the muscle car boom. One can only imagine the same thing happening to our cars. Just like the original Mustang, even though the fox body was produced in big numbers, many of them have been or are currently being wrecked or raced into submission.