Barrett Jackson Auction 2016

The collector cars that show up at the Barrett Jackson Auction in Scottsdale each year can give you a good idea of what trends we will be seeing. It also, re-enforces my belief in the collector car hobby.

Barrett Jackson Auction hot rod

This year was big for the restomod Corvettes. I lost count of how many crossed the block this year. High end quality and style brought out some big money for these cars. However, compared to what is invested into building one of these cars, you could consider it a bargain. It is nothing to have $200,000 to $300,000 or more invested in one of these high-end builds. So buying a ’67 Corvette restomod for $125,000-$150,000 could be considered a steal! With the amount of restomod Corvettes on the market, prices should stay well below the cost to build one.

Barrett Jackson Auction 64 Corvette

Another trend that is continuing is the popularity of the cars from the 80’s and 90’s. They have found a place in the collector car market and continue to go up in value. So keep a lookout for a nice, fox body Mustang, Monte Carlo SS, Grand National, Iroc Z, GTA Trans Am, or Hurst Oldsmobile from the 80’s. It just might be worth more than what someone is willing to sell it for.

Barrett Jackson Auction Camaro

Lastly, the hot rod market is in transition. While the hobby is strong, it is aging rapidly. There will continue to be some high quality hot rods from the 1920’s, 30’s, and 40’s come available in the near future and unless a younger generation embraces it, the prices will continue to go down. Watching the collector car hobby is like watching the stock market. Except for me, it is a lot more fun!

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Rick Drewry

Collector Car Senior Specialist at American Modern Insurance Group
Rick Drewry is the senior claims specialist, Collector Vehicle & Motorcycle, at American Modern Insurance Group. He has been passionate about collector cars since he was a kid. He has owned and restored collector cars for 30 years.

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