Market Spotlight

Muscle cars are on a tear

by Greg Ingold
14 April 2022 3 min read
Image
. Photo by Matt Tierney

For more than a decade, it seemed like the muscle car’s best days—at least in narrow collecting terms—were behind it. Following the cratering of the collector car market alongside the Great Recession, muscle cars more or less recovered, but then remained stuck in neutral even as other segments blasted ahead. That was until January 2022 happened. Observing sales at Mecum’s Kissimmee sale and the Scottsdale auctions, along with private offerings and Hagerty data, it is clear that muscle cars are back to where they were at their last peak, in 2008.

So what’s happening in the muscle car world? Well, here’s the short answer…everything. We observed movement at nearly every level. Let’s dig in and take a look at some of the highlights.

Big Block MOPARs post big gains; Hemis show relative restraint

Mecum

Talk about collectible muscle cars usually starts with 426 Hemi powered cars. Rightfully so, they are peak MOPAR performance, and original Hemi cars are pretty scarce. Yet Hemis, although no doubt valuable and desirable, are not the big movers at this moment.

Rather, the biggest winners were MOPAR’s “other” big V-8s, the 383 and 440. Chargers posted some of the most notable gains, rising 30-40 percent on average since late 2021. Cudas and Challengers posted a more modest 20 percent gain on average. But what about the beloved Hemi? They still grew; however with the exception of Chargers, their growth has been a steady march upward as opposed to an explosion.

GM cars do best of the Big Three

Mecum

If we were to call a clear winner in the muscle car market, it has to be General Motors. Most specifically Chevrolet. Unlike MOPAR muscle, vast increases in value were shared across most levels of performance. Strong showings of ultra-rare 1970 LS6 Chevelle Convertibles pushed values up over 50 percent while Yenko Camaros rose 40 percent in value. Meanwhile, first generation Camaro Super Sports (1967-69) exploded in value by 35 percent and Z/28s by nearly 40 percent.

Of course, General Motors consists of more than Chevy and they certainly weren’t the only ones seeing action. 1966-67 Pontiac GTOs, a 2022 Bull Market List pick, increased an average of 24 percent, and later non-Ram Air GTOs rose by a similar rate. Oldsmobile 4-4-2s and Buick Grand Sports experienced more modest increases on average, but the less loved 1972 Olds 4-4-2 has caught up in in value to 1971 models. Buick Grand Sports powered by 350s, while still affordable, saw substantial gains for the first time.

Notably, the biggest gainers from the GM camp were from cars made after the so-called muscle car era. It’s pretty well accepted that the era came to a close in 1972; however Pontiac fans are quick to point out the company produced viable muscle cars after that point, and it seems collectors increasingly agree. Smokey and the Bandit Trans Ams were the biggest gainer of any American performance car, with increases of 40 to 70 percent.

FoMoCo bringing up the rear

Aaron McKenzie

If we had to call any division the least active in this review, it would be Ford. But that’s more a testament to the heat of the market, overall than it is a commentary on how fast Fords are doing. The big players like Boss Mustangs gained upwards of 20 percent while Mach 1s grew by 12 percent. The rest of the Mustang market rose by a few percent, which on its own is noteworthy considering how saturated the market is with great examples to choose from.

The biggest winner in the FoMoCo camp is handily the Mercury Cougar. Whether this is a case of rising tides raising all ships or finally receiving recognition is hard to say, but the fact of the matter is, they outperformed everything. We observed ultra rare GT-E to Cobra Jets being offered and sold at noticeably higher rates than where the market previously was. Small block powered cars saw more modest moves, but 390 and 428 cars rose by 30-40 percent.

What’s next?

Of course the natural question—at least if you’re a pessimist—is how long muscle cars can keep up this pace. It is hard to tell if there is more 110 octane in the tank or if we’re running on fumes. It’s still early in the driving season and Mecum’s huge sale in Indianapolis next month is a good temperature check of the market. Regardless of what happens, there, though, the gains in the past year are not merely speculative. Muscle cars enjoy a vast fanbase that is diverse in age. Although the recent gains may be painful for those of us who see our dream cars climbing out of our budget, the growing values also insure that these cars will continue to be cared for and preserved for future generations to enjoy.

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Comments

  • Robert Dennis says:

    Greg,
    You might want to check out my all-original, numbers matching 1969 Ford Talledega currently being restored by City Classic Cars in Spring, Texas. You can see progress photos at CCC’s Facebook site. Enjoy.

  • Mike Pugleasa says:

    I own a 1966 Mustang convertible,bought in California in 1972,numbers matching,it came with a fiberglass hardtop,and a custom console,I think were made in Wittier California,wondering if you guys ever saw one,I haven’t

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