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Written by Nicole Ellan James
SOLD! 1969 Chevrolet Camaro ZL1 COPO at the 2020 Scottsdale Auction for $1,094,500
With more than 50 years of history, Barrett-Jackson has unique insight into the classic and collector car market and, in particular, the muscle car market. While original and unrestored muscle cars are not seen crossing the block as often, they remain a widely popular segment in the collector car market.
Taking a look at sales from 2019 to the present, focusing on two-door models produced between 1963 through 1973 by American Motors, Buick, Chevrolet, Dodge, Ford, Mercury, Oldsmobile, Plymouth, Pontiac, and Shelby, the data shows compelling findings.
To further narrow the results, focus was placed on models including: 442, AMX, Barracuda, Camaro, Challenger, Charger, Chevelle, Cyclone, Cougar, Cutlass, Firebird, Gran Torino, GT350, GT500, GTO, GTX, GS, Impala, Javelin, LeMans, Monte Carlo, Mustang, Nova, Riviera, Road Runner, Satellite, Skylark, Talladega, Tempest, Torino, Toronado, and Valiant.
Let’s be honest: the last few years have been interesting, particularly in the collector car market. There has been an enormous shift toward younger collectors represented by newer enthusiast cars becoming “collectible.” Resto-Mods are hotter than ever, given their ease of use and drivability. Other trends that have resulted from the change include an uptick in the value of classic pickups and vehicles that are traditionally inexpensive or considered affordable, becoming increasingly less so.
One area that didn’t get as much attention as it deserved amidst all that change was the original muscle cars. Since its inception, the muscle car market has had variables, hitting its first peak in 1970, followed by the gas crisis and subsequent highs and lows.
The lack of attention is not because the muscle car market is inactive or recent events have dampened enthusiasm for them at auctions. Muscle cars are as hot as they’ve been in a long time, and live auction sales brought many record prices.
Barrett-Jackson sales data reveals that original muscle cars – restored or in stock/survivor condition – remain steady with values increasing as things settle into “the new normal.”
Some of the most significant gains were for cars at the top end of the muscle car market. Cars to fall into that category include the 1969 Ford Mustang Boss 429 and 1970 Chevelle SS LS6. Additionally, the 1971 Plymouth Hemi ‘Cuda has continued to perform well with a $935,000 sale at the 2022 Scottsdale Auction.
These cars are collectible for the usual reasons—big engine, high performance, racing pedigree, and limited production by muscle car standards.
Baby Boomers have been the driving force of every spike in muscle car values. The most expensive muscle cars naturally skew towards an older audience because there are limited Millennials who can afford a million-dollar Mopar. Still, it leaves the question of what will happen when seasoned collectors decide it’s time to downsize their collection.
There is, of course, a big difference between the provenance of these six and seven-figure muscle cars and the standard versions of ’68–72 Chevelles and ’67–69 Camaros. Yet, the trends are similar. Data reveals an increase for the 1969 Camaro Z/28 RS, 1969 Chevelle SS 396, and 1970 Oldsmobile 442.
Other cars seeing gains include the 1963 Chevrolet Impala SS, The 1966 Pontiac GTO convertible, the 1967 Pontiac GTO 2-door hardtop, and the 1969 AMC AMX.
In 2021 a few spikes were noticed for the 1969 Camaro Z/28, 1969 Shelby GT500, and 1970 Mustang Boss 302.
While each car spiked, its 2022 auction sales price to date remains higher than it was in 2019, indicating that there is still interest in this segment. The 1969 Camaro Z/28 had the highest increase from 2019 to 2022, with a 31.28-percent auction sale price increase. The 1969 GT500 and 1970 Boss 302 saw a 4.67-percent and 3.09-percent increase, respectively.
The short-lived age of American muscle has led to these cars being some of the most desirable vehicles to cross the block. All are looking forward to what the 2022 Las Vegas docket has in store for this collectible segment.
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