Until recently, I loved the fact that muscle car prices were skyrocketing. I loved the fact that the Challenger R/T I bought 5 years ago for $7,000 has gone from being worth about $20,000 restored to closer to $40,000 restored. Yet now I find myself caring little about it's value and more about what it's doing to the hobby.
A little over a week ago a car sold at Barrett-Jackson for a record $5.5 million.
Racing legend's Cobra sells for record $5.5 million at auction
I suppose in this case, one could make an exception for the astronomical price. You weren't simply buying a car in this case, you were paying for the fact that Carroll Shelby owned this car. It is the equivalent of buying a guitar played by Jimmi Hendrix. Yet if we look at all the other cars at the auction, many of which weren't even specially optioned cars, the prices are still often in the 6 figure range. Buy a plain jane mopar, drop a hemi in it, create it so it looks like a clone of the real thing, and all of the sudden you too can fetch 6 figure prices.
What this is doing is taking a hobby that was once that of the blue color working man, or the white color guy making a decent living supporting his family, into an area that only the big shots can take part in. It has driven prices of "beaters" to that of what a nice drivers used to go for less than 10 years ago. No longer can most kids in high school afford to buy a driver in even rough shape and restore it as he goes. Combine that with movies like Gone in 60 Seconds and Dukes of Hazzard and they have added fuel to the fire. Try finding a fastback Mustang or 68-70 Charger these days, their prices are through the roof.
Just a few years ago I dreamt about selling my Challenger to get a boat, or possibly a muscle car of different flavor that I'd rather have. I like the styling of my Challenger, but I'd rather have a Cuda, or perhaps a bigger bodied Mopar like a Charger, Roadrunner, or Superbee. Yet now I look at it from a perspective that, if I sell it, I'll never justify buying another. I think I've passed the time period in which I would ever justify owning a true SS or R/T car, as I would never pay the money to buy one. As it is, I own a part of history, a special car, one that not everyone can afford any longer.
If I do keep it, my plan will go forth just as planned. I feel that the muscle car market is heading down the same path of streetrods back in the 50's. Stock, all original is going away, being replaced with modified cars for more power, better handling, and dependability. While I won't cut up my Challenger R/T to install a full 12 point roll cage like my Camaro (not yet anyways), I will modify it in several other areas.
I've already rebuilt the rear half of the car. It's now slammed to the ground sporting an all new suspension built to make the car handle. Bigger rims/low profile tires will be in the works. Nothing insane like the current trend, but perhaps 18's out back and 17's up front. The front will remain stock in design, but components replaced with better equipment, such as tubular control arms to compliment the Koni's already at all four corners. The torsion bars will also be directed at lowering the car and assisting in better handling.
I haven't decided upon the powertrain yet, I may stick with the 383, perhaps fuel inject it, or maybe even go with the new 5.7 hemi for a complete update. The trans will likely get updated from the current 4 speed to a T56, if for nothing else, for the O.D. I've already gutted all the stock electrical and updated to a push-in fuse block. Ignition is also electronic, replacing the points.
The Mopar faithful at shows are...well, the most faithful. They turned their head when I informed them once that I owned a 69 Carmaro, as they have the "Mopar or Nocar" mentality that seperates them from other classics. I really pissed them off when I told them I painted my Camaro Plymouth Prowler Purple! LOL
I'm wondering where the hobby will go from here. Is this simply a passing fad? When these collectors begin to die off, will the cars be placed back into a market in which the high rollers are no longer a part of? I wonder, are there enough old school gearheads rising up through the ranks to replace those who jump ship, or will the fact that they were priced out turn these people to other means such as more modern cars?
Perhaps the one benefit of the current trend in values is that parts that were no longer feasible to manufacture are now available. This makes restoration for those of us with cars much more easy. Instead of buying junk parts to restore we can open a catalog and order up most anything we need, for that, I have no complaints.
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