The Collector Car Market Is Seeing an Influx of Younger Cars
Modern cars—those made from the 1980s to today—are on an accelerated path toward collector status. That’s what our analysts observed when crunching the data on vehicles featured at auction over the last decade. Collector cars are getting newer, faster.
Eventually, certain used cars gain collector status as enthusiasts decide to start preserving and restoring them. That’s just the natural order of things. Just look at the rise of Fox-Body Mustangs, first-gen Miatas, and almost anything in a Radwood show. Trends in more recent years, however, show more than just simple passage of time when it comes to collectability. Across the thousands of public auctions (live and online) for the six years prior to 2020, the average model year of vehicles listed got one year newer every 12 months. But from 2020-24, that pace has more than doubled: the rate is now 2.3 model years per year.
A few factors contribute to this quickened pace. These younger cars enjoyed a burst in popularity during COVID. From 2020-21 alone, the average model year of cars listed at public sale got 4.7 years newer. While it’s calmed down since then, the rate is still significantly above where it was (note in the chart above, there was even a period between 2018-19 where the average model year got older). We’ve written before about online offerings being significantly younger than their in-person counterparts, and the hastened adoption of online platforms as places to buy and sell collector vehicles has naturally supported younger cars—not to mention the younger consumers who more readily embraced the concept of buying a car online, sometimes sight-unseen.
Those consumers are another element—the generally agreed-upon start of Gen X (1965) and end of millennial (1996) generations puts these buyers at about 30-60 years old, a sweet spot for collector car purchases. It’s only natural that their preferences become a focal point of the market as their earning power is in its peak years.
Finally, by virtue of age, attrition and sometimes production numbers, there are simply fewer older collector cars than there are newer ones that have recently transitioned or are about to transition from used car to collector car. Add in the extra reliability and usability of 1980-and-up vehicles, and their increased popularity among old car fans makes even more sense. The rise of these cars doesn’t take away from existing classics, it just makes the enthusiast tent that much bigger.
Here is the trouble. In the 80’s everything was cheap. Want a Tri power GTO to drive to school $3k. Want to build a coupe buy a cheap body and chassis.
Today the older cars are grossly over priced like $40k non SS Novas.
On the other hand we do have F Bodies and Fox bodies today but many body and trim parts are hard to find.
My Fiero is a cheap collector car but body and trim parts are expensive or hard to find.
Asian imports are used up and hard to find parts or good cars with low miles and no rust.
Many young buyers are into the used Dodges as they become cheaper. Some are honest collectors some are of a street take over crowd.
No one really believes there is no interest. It is lower interest so increases are easy. They will have to find their own way in a difficult market and they may have to pay more to play. By the time I was 20 I had up to three clean cars. They may need to daily drive their collector cars till they can afford a beater.
There still is a solid group of Jeep and truck youth. This has remained strong and Jeeps attract women. Now the Jeeps have gone up in price the used ones will too. This will make it more difficult.
The youth really like life style vehicles. I think this is what has driven old Bronco and Blazer prices.
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Agreed. Finding the right car for the money is a challenge. I exited the collector car market just prior to the pandemic, and remain out of it until things stabilize further. Luckily, my tastes are varied, so don’t anyone worry about me (ha!).
I have seen people younger than me with C4 Corvette’s. Plenty of them and very affordable. The picture is quite accurate.
Proud millennial C4 owner here. Nothing else out there like it for the money.
That’s always been true of the Vette no matter what generation you’re talking about but especially true of the C4 today as far as affordability and performance goes.
The greatest issue is insurance for young drivers in Vettes. They csn buy them but can they afford the insurance.
Maybe the good folks at hagerty could shed some light on what does it cost (Ballpark figure) for a 25-year old male to cover a 1989 Corvette (245 hp) I amazed my agent back in the day when I informed him my 2007 Ford Edge had 265 hp when discussing a 1984 Corvette purchase that had 205 hp. I promised him there would be no “speed contests” between the Edge and the Corvette.
I would say most people are just carrying liability only on these driver quality c4s, which is immensely less expensive.
I have a C4 and a C5 that turns heads very affordable if you want to start collecting cars.
I got a 1996 grand cherokee myself. Not a collectible thing, but surely will outlive any of the current available models, and parts and repairs (constant as they are) are insanely cheap, so your car won’t die on you and if it does, you can bring it back for the cost of a touchscreen of any new vehicle. They are like roaches.
As a 33 year old enthusiast, I am in the group interested in 80-90s vintage vehicles. I have a 90 Jeep Comanche and 99 BMW M3 as both fun classics but also usable dailies. I’m not against older, I do also have 62 Austin Healey Sprite which is very affordable to run as a classic and quiet useable in town.
What I always knew of classics, old American muscle cars, are very expensive now and honestly, super overdone. The Radwood era cars are far more interesting.
I think it has a lot to do with drivability. People are used to how their late model drives, and disappointed now with 50-60’s handling and reliability. I’m one of them. Being a car guy since forever I used to think nothing of taking off cross country in a 57 Chevy. Now, I think twice. I own 10 or more collector cars, from 1931 on, mostly 60’s Ford trucks. I love them as much as ever, but I really enjoy my 08 Mustang CS/GT convertible for road trips. Yes, you can make an old car as nice driving as a new one, but that takes big bucks.
With all the variables in the collector car world, one rule of thumb has emeged over the years: as people (who’ve had an interest in cars/driving) get into their 50’s & 60’s they begin to consider getting a car that caught their attention when they were in their teens and twenties. Thus, the growing interest in ’80s2 & 90’s cars today. (Side note: forty years ago when considering a ’50’s car you knew the thing would need constant attention to keep it minimally useable; ’80’s and later cars, however, as the article mentiones, are relatively reliable and more user friendly (lights, a/c, etc).
I agree with KV. Sold my 65 Mustang just before the pandemic. A red on red A-Code, 4 – speed convertible. Do I miss it, yeh, but the upkeep on a what was becoming an older restoration and then not driving it as much was to be considered. Now own a 96 Mustang GT Convertible, with 165,000 km. Got it for $4500. Not my favorite era of Mustang, but handles great, goes like stink. Reliable and much safer to drive. I remember Steve Magnante from Junkyard Gold finding one and saying “future collectible”.
Collector cars are my hobby, and since it’s my hobby, I can’t focus on them full time. Therfore, here’s what I look for in a collector car:
1.Bang for the Buck. (90s cars have good to great performance for less $ than older muscle or newer supercars).
2.Get in and Drive. (I Don’t have
time or space for projects or rust buckets
anymore).
3. Comfort features (A/C, power features) – I’m not getting any younger
4. Simple and Reliable (vehicles that are relatively safe, quite reliable, more analog than current models).
5. Interesting models (early AMGs, Japanese cars,& pickups/SUVs).
90s era fits the bill for me.
Pete, totally agree. I’m not a collector, I’m an enjoyer. Headed toward a fixed income retirement one day. I have only those things that i enjoy ( as drive & work on ) that can fit my life style and property ( 2 car garage, 2 car driveway ). In summery I love what I have, have what I love. Never stop driving.
I’m rooting for the late 40’s-50s card to get disgustingly cheap. Looking to pick up at least one.
Folks the old cars will not get cheaper unless it is something no one wants.
The cars that are buys now are the. 80’s cars. You can drop a crate engine in most for more power.
The 90’s it can get more powerful but so many fwd cars with limited abilities of weak transaxles.
There is a big move to G8, Chevy Caprice or SS and most RWD Cadillac models.
The real challenge will be parts. Trim, interior etc. Will it be supplied or will someone fill the need?
Salvage yards are vanishing and dismantlers are not keeping old parts.
My daily is a restored 1992 Lexus SC400 that I purchased for $4300 almost six years ago and made it my own. It was solid needing cosmetics, so I upgraded the interior leather, steering wheel, black chromed the OEM wheels and Lexus insignia. Replaced front spoiler, buffed out the white paint, changed out all the rubber components and added a modern Kenwood head unit with Android and Apple Car Play while replacing speakers with OEM units from e-bay. Tinted the windows. Sent the instrument cluster to Tannin to rebuild tach, speedo and replace dead lights. Purchased headlights from ebay and sent to restoration shop and upgraded headlamps. Updated the AC and replaced lower arm controls. Also replaced both window regulators. I get huge compliments wherever I go and also 20+ MPG overall on premium fuel. 26+ on the highway. New Eagle GT tires. Small trailer hitch primarily for my bicycles. It is sporty enough, large enough, comfortable enough, fast enough (140 mph top speed), reliable enough, etc. Bottomline is that I can drive this car forever with regular maintenance, with the knowledge that it is appreciating, not depreciating. Something to consider with so many of these “newer classics.” I get compliments all the time and sometimes offers when fueling up. They ask, “how much” and I say “$30k.” They chuckle and we either talk more about the car and/or part as friends. Feel free to drop a line if you’re interested in doing likewise.
I’m into the 60’s Muscle Cars.. give my a ‘65 Chevelle or GTO or ‘67 Corvette!
I worked at a car shop in the late 80’s/ early 90’s. The guys would listen to an 1950’s oldies radio station nonstop. the delta between the music and the current year was 30+ years. That is about the same as listening to 80’s/90’s music now.
The same goes the car market. While many older collectors see cars from the 90’s as newer. They convey the same nostalgia as cars from the 50’s & 60’s did to those in the pre-2000’s.
Its just math. I was born in 1970 and came of age in the 80’s when I couldn’t wait for the next issue of (insert your favorite automotive periodical here) to see which pony car was going to pull ahead in the never-ending war. Add to that, the emphasis on the return to performance that manufacturers were committed to at the time. It seems every brand had a decent catalogue of fast or near fast coupes (442, GN, Tbird Turbo, etc). As much as I love earlier muscle cars and modern performance, this is the era I cut my automotive teeth on and the one I am nostalgic for.
I agree with KV that a material factor in buying and/or restoring an older car is an emotional connection to it: what you coveted in high school (tangent: I went looking for a late 80s Pontiac Bonneville SSEi last week and found nothing worth buying), or what your mom or dad drove when you were a kid. It makes the market heavily influenced by generational trends, though outliers obviously exist.
Some examples: Unless you own a #1-quality example, there’s little-to-no market for Brass era cars. Yes, something that qualifies for London-to-Brighton will still sell to a broad audience (I believe because that is driven by participation in a very well-run and structured community, you get to join a tribe, do a thing, dress up in costume. Brighton and the like are EVENTS that are fun to do). But trying to sell an early 20s car isn’t as easy as it was 20 years ago, no matter how nice. Similarly boomers, the normal folks who did well financially over the decades and drove the rise in prices of late 50s and 60s era muscle cars, and the youngest of whom are now in their early 60s, as they downsize or liquidate their collections and sell that prized #2 or #3 Plum Crazy Plymouth that they bought at the top of the market, they have a car that trades in a much smaller market because Genx and Millennials have much less of an emotional connection to those vehicles than they themselves did.
I don’t know that i share the conclusion that the pie gets bigger. I’d argue with each generational transition, the majority of the non-concours classic cars see less demand, and the pie is more likely to be defined by the demographic size of the generation (boomers: big generation and comparatively wealthy; GenX, much smaller in size and less wealthy; Millennials, bigger cohort GenX but financial wealth was delayed due to 2008, insane housing prices and and slower career velocity, and their buying suggests they don’t want boomer muscle so much as Radwood and Japanese classics). There are cross-generational outliers: vintage pickups, Porsche of all forms, some MB (w123 and any pre-Merger AMG). My contention is the pie grows and contracts largely based on generational participation in the market and while there are Venn overlaps, each cohort generally covets its own generational mix of cars. Personally, i would not want to be selling a 1940s Dodge now or a 60s restomod Nova in five years, as i think that buyer pool is shrinking rapidly.
52 years old, own two Volvo Amazons, a 1970 Ford F250, a 1980 w123 diesel sedan, a matching pair of 1992 w124 wagon and sedan, a 97 Tacoma, and an ‘04 Tacoma. None concours, none especially valuable, all high milers (my kink is cars with over 150k miles that are in great shape) but most #2 cars that are driven all the time.