The 1971–76 Full-Size Chevrolet Appreciates Without Capriciousness

If bigger is better, then the second generation of the Chevy Caprice (1971-76) are some of the best vehicles this brand ever made. Be it a baseline Bel-Air, modest Impala, luxurious Caprice, or any of the three wagon trim levels (posh Kingswood Estate, Kingswood, Townsman, and Brookwood) this era of full-size Chevy moved with newfound grace. There were five engines, four coil springs, three body styles, three transmissions, two wheelbases, and one sleek overall design with streamlined features that were further highlighted by optional fender skirts.

And that design is truly what separated Chevrolet (and every GM model with Fisher Body origins, naturally) from its competition. There was a shocking amount of glass, thanks to a greenhouse with an incredibly thin A-pillar, and an invisible D-pillar on station wagons.

The full-size Chevy wagons were engineering masterpieces for another reason, thanks to a “Glide Away Tailgate” that rolls into the body instead of swinging away from it. Their added size and wheelbase also made third row seating less queasy for children by rotating it 180 degrees, ensuring everyone had a view of what’s coming ahead.

These design and engineering feats are what we expected from General Motors, a company still large and powerful enough at the time to spread station wagon advancements from elitist highs (Buick Estate) to fleet-spec lows (Chevrolet Brookwood). This attention to detail was borderline impossible from GM’s crosstown rivals.

Hagerty Valuation data indicates that time has been kind to these full-size Chevrolets, even the ones with unsightly bulk from Malaise Era safety requirements. But thanks to a body style we’ve yet to discuss, the popularity of these Chevys has transcended generations, crossed cultural divides, and even beaten the most modern of electrified muscle (with a little help in the engine bay, of course).

The convertible offering helped the Caprice stand out from its 1969-78 Ford LTD competition. We don’t even have data for the Ford after 1973, but there’s ample information on Chevrolet convertibles until their final days in 1975. The average value of those Fords is just shy of $20,500 in #2 (“excellent”) condition, or about $7,000 less than the big Chevy. This is where the 1971-76 Caprice sets itself apart, as the seemingly unloved Malaise Era convertibles are their biggest growth engines.

The high-water mark is the 1971 Impala convertible equipped with the 454 big block, as $51,500 is needed for an example in #2 condition. But the average price for any of these 1971-75 full-size convertibles in #2 condition is a still-robust $35,488. Even a small-block 1975 convertible is $30,400, and its price relative to the 1971-72 Ford LTD convertibles is impressive. Chevys are anywhere from $10,000 to $15,000 more valuable, even with the presumed price penalties of big bumpers and reduced power output from the Malaise Era.

No matter the powertrain or body style, all Caprices from this era are on the upswing, as average prices increased over 57 percent since the last quarter of 2021. The convertibles are likely helping their more mundane sister ships earn this increase in value, as the rest of the lineup is up by “only” 24 percent in the same time period.

The big rise in full size Chevy values are thanks in part to the pop culture sensation of customizing, modifying, and drag racing “donk” convertibles. That’s ironic, considering how few mentions of the convertible are found in sales literature of the era. It’s not unlike the sleeper sales potential of the 1961-69 Continentals that are highlighted by their roofless derivative, but sold in so few numbers that they were cancelled well before the body style was retired from production.

And the big Chevy’s appeal skews by generation, but not necessarily in the way we’d normally expect. Boomers comprise 32 percent of Hagerty’s insurance quotes, but that’s only one percent more than Gen X. Millennials are a shocking 23 percent of the market for these cars, and Gen Z racks up 10 percent of1971-76 Chevy quotes.

The fact that younger generations are so enamored with this platform suggests that some designs are far more timeless than we previously considered. Perhaps a #1 condition example won’t be modified for better performance and modern style, but these vehicles lesser conditions have an appeal that crosses boundaries: Timeless big car design in the era of the CUV, paired with a strong aftermarket culture centered around the modern small block Chevrolet V-8. It’s an appealing mix, and one that’s likely to get even more valuable as more people see these cars in pop culture and across social media platforms.