The definition of collector vehicle certainly has changed over the years. We used to term them as antiques, classics or historic vehicles but today, the industry uses the term “collector” to encompass all of these previous terms for any car, truck or motorcycle that is both popular, desirable and/or rare, has a brand significance such as Bugatti or Ferrari or a model significance such as 911 or Corvette.
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In the past 20 years, growing interest in collector cars and trucks fueled by a plethora of live televised auctions such as Barrett Jackson and Mecum, especially with online participation, have taken the market to an entirely new level from the past 20 years. Some vehicles such as ’66 -’72 GM, Ford or Mopar models with big block engines that were once affordable even by someone earning a modest income are no longer attainable. As a result, the market has trickled down to more affordable versions of these models (i.e. small block) that are now more sought after as well as newer, later models.
With more varied collectibles today, insurance companies are increasingly accepting newer niche or upscale models on collector policies as long as the owner limits mileage and use per year. For example, a 2020 Mustang Bullitt would be accepted while a base Mustang may not.
In the past 10 years, the collector truck market has exploded since more people now drive modern trucks and SUV’s and fondly look back to older models like the Ford F100 and even the VW Microbus.
And “collector” just not just apply to numbers-matching stock vehicles. Restomods are trending now where a hobbyist that admires a classic body style can modify it according to his or her taste, and drive with a particular preference of power, comfort and fuel economy. In some cases, restomods with 500+ horsepower and custom paint are worth more than the stock version of the same vehicle.
On the other hand, a non-running vehicle or roller version of a desirable vehicle sometimes considered a barn or backyard find even has value today, whereas in the past it was considered disposable. It is not uncommon to find a collector who will invest well over 100,000 dollars to restore such a vehicle!
Words Contributed by Alan Power, photo by Fifth Generation Customs.
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