From Bentley to BMW, Polestar to Porsche, new-car sales did slump in 2020. No thanks to the pandemic, people’s disposable income were either halved or totally stopped.
However, sales of classic cars, on the other hand, have remained positively stable as people had to sell off their used cars to make up for lost job or to meet up expenses.
Brian Rabold, Vice President of valuation services at Hagerty, a company that insures classic and collectible cars said “2020 was a very strange year. There was a lot of appetite to buy cars. Thanks to the proliferation of online platforms from auction houses and startups alike enabled consumer hunger.” He added that a lot of people had more time, they weren’t traveling, they weren’t leaving the house. You could just sit in front of the computer and shop and the surprising thing is that these cars were put on sale at almost give away prices.
Also, Gooding & Co. auction house, Randy Nonnenberg among others reported $9.2 million in sales and a respectable 77% sell-through for its Geared online auction, which saw blue-chip classics like the $1.14 million 1957 Mercedes-Benz 300SL Gullwing hammer well within its pricing estimates.
As the world shakes itself from the shackles the pandemic has put it into, car dealers especially those who deal in classic cars are optimistic that there will be a boom in the industry in 2021 because according to them, in unstable times, car people tend to hang onto their blue-chip cars and get other ones.
So, here are some classic cars that might gain value in 2021;
Jeep Grand Cherokee SRT8: (Years to buy: 2006–10)
The square outline of the Grand Cherokee is a dead ringer. It’s a polarizing aesthetic. But if the look does not appeal to your taste, go for the 6.1 liters of Hemi-powered V8 muscle under its hood: pure Americana! This is the true “hot rod” Wagon! Its all-weather acceleration gives this Jeep massive appeal although poor fuel efficiency is the downside but you can go anywhere fast with your friends camped right behind you.
Lexus LFA: (Years to buy: 2011–12)
This two-seater is basically an oddball, front-engine, exotic-style supercar with a 552-horsepower V10 engine and video-game styling. When it came out in 2011, it was unlike anything at the time from Italy or Germany. One car analyst describes the car in the following terms; “If Godzilla and a PlayStation got together to make a car, this would be it.” It is one of the few supercars Toyota has ever produced, and it can go more than 200 mph.
Aston Martin Vantage: (Years to buy: 2005–17)
The front-engine entry car to Aston Martin’s 2005 portfolio came with a lightweight aluminium frame and memorably spirited handling. Best of all, the Vantage was then aimed at the newly and near-rich, so it had a competitive base price set just above that of a Porsche 911. Car enthusiasts reports that models with the 4.7-liter V8 engine will see the strongest growth.
Ferrari Testarossa: (Years to buy: 1984–91)
With its 12-cylinder mid-engine power and wedge-shaped attitude, the Testarossa shook the world when it debuted at the Paris Auto Show in 1984. It had a large (for a Ferrari) cockpit, a surprisingly usable trunk, and a more-pleasant interior than its predecessor, the 512. Pop culture mavens and car enthusiasts alike consider it one of the most memorable vehicles of the 1980s.
Honda S600: (Years to buy: 1964–70)
It’s rare to find a S600 version in left-hand drive, but they are worth seeking out. Initially available as an inline-four roadster and a coupe, it was the first car Honda ever produced and made available in two trim levels. It wasn’t fast as the 57 hp engine could maybe reach a top speed of 90 mph, but it was fun.
Volkswagen Vanagon Westfalia: (Years to buy:1980–91)
The hipster darling origin of the Van Life movement—along with microvans and the VW bus. The classic “Vanagon” remains desirable in large part because of the “romance” of life on the open road. VW’s steadfast refusal to replace it with anything nearly as practical, classic-looking, and inexpensive means that existing examples will continue to garner fans. It gives mobility and flexibility and a lot of freedom, plus you can customize it to be exactly what you want. The market for that is huge.
Are you a car lover? Get ready! Watch the market. You could find more value for that automobile you call old.
What is your favourite car of all times? Do share with us in the comment section.