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Since our most recent update on the Hagerty Price Guide, two weeks ago, we looked at several promising areas of the collector cars market. This week, we’re back to examine some less successful cars. It’s not the more consistent broad market shift we saw two years ago, but more subtle inputs still influence valuation movements. This group of cars was no exception, but their drop in value may reflect a more significant shift in the street market. As we approach the driving season, we’ll continue to see if these trends from blue chip to affordable prices hold.
As always, if you want more information on how these changes were made, you can read more about the methodology behind the Hagerty Price Guide here.
These 5 cars depreciated the most.
1970 Plymouth Superbird: -24%
These were vehicles that were special for their time and would be considered too weird to produce today, but Dodge has a history of building some really weird vehicles. The Dodge Daytona and Plymouth Superbird, MOPAR wing cars, aimed to challenge NASCAR rules the farthest, but in order to participate, they also had to be offered to the general public. These vehicles, like many other homologation specials, were modified solely for the purpose of dominating the racetrack; Road use was not considered.
As the 500 units required for homologation, Dodge would build only 505 Charger-based Daytonas in 1969; In contrast, Plymouth would have much more success that same year, producing 1,935 Road Runner-based Superbirds. One could argue that their long and aerodynamic snouts made it difficult for them to survive on a daily basis as it reduced the local awareness of road driving. Turning back the clock didn’t matter at all—the Daytona and Superbird are two of the most iconic vehicles of the muscle car era and valuable focal points for connoisseurs.
While these vehicles are often put on the open market in fits and bursts throughout the year, we introduced more than 20 vehicles in the month of January alone. That’s a lot – too many at once. It’s true that you can have too much of a good thing, and in the case of the Superbird, you can have more vehicles than consumers in that price range.
Poor sales are usually the result of this kind of thing, and that’s exactly what happened. Both the Hemi and the 440-6 barrel vehicles sold for well below asking price. This does not mean that the sky is officially falling on these vehicles; Further market research is needed, especially with more common individual shopping time gaps to confirm that—however, this is a good indication that the top tier of the muscle car market has begun to wane.
1967 Chevrolet Corvette L88: -19%
For a minute, let’s discuss blue chip collectors. These are some of the most iconic and classic collector automobiles in the hobby. It’s not enough to just have pedigree in your brand – there has to be a sense of pomp and circumstance and genuflection when these cars are in the limelight. A 1967 Chevrolet Corvette with L88 equipment is one of those automobiles, even if it’s not the first vehicle blue chip enthusiasts discuss.
For the two or three of you reading this who aren’t familiar with L88 Corvettes, here’s a little refresher. In 1967, Chevrolet introduced the largest and most powerful engine offered in the Corvette. 430 horsepower is a conservative rating for a 427 cubic inch big block with RPO code L88 (the actual number is probably closer to 500). This engine was designed to give racers who could afford the then roughly $950 option weapon-grade power. The 1967 is the oldest, rarest, and perhaps most attractive Corvette to replace the L88 in the three years it was available.
With only 20 examples of these cars ever made and their prices being out of reach for the average collector, why worry about their performance as their prices easily exceed seven figures? Over time, the effects of the very highest end of the market filter down to more accessible areas of the hobby. After years of minimal trading and sitting high in the market, three events hit the market at the same time with incredibly poor results.
Consequently, we suggested a 19% average reduction in ’67 L88 condition values. The softening of the market for American performance automobiles since the 1960s has proven that we should pay special attention to other, less rare Corvettes and muscle cars from this era. Nothing happens in a vacuum, and sometimes it just takes a while to translate to the rest.
1979-1992 Mercedes-Benz W126: -16%
Debuting in late 1979, the second-generation S-Class Mercedes is the pinnacle of quality, reliability and competence that we have come to expect from Mercedes-Benz vehicles of this era. For the American market there are many options and price ranges to choose from, with possibilities ranging from diesels to relatively powerful V-8s for the period.
Although devotees have long appreciated and desired these platforms, their values remained relatively modest until the 2020s, when increased acceptance and popularity led to a significant increase in their use. This is made possible by the large number of high-end cars with low to medium mileage that sell for what is essentially a good used car price.
What goes up usually comes down, and while the W126 market is incredibly nuanced—every engine option requires close attention—the general trend is that prices are coming back down. This is especially true with six-cylinder models. While V-8 cars still perform well, the direction is clear: these cars are on a different footing. The boom in the 80s collector Mercedes market hasn’t fully matured, so it only makes sense that some cars will be looking for a new equilibrium as the overall market changes.
1983-1990 Alfa Romeo Spider: -14%
The Alfa Romeo Spider is Italy’s contribution to the compact sports roadster market. It is not as popular as other models in the country, but it is still significant. Built between 1966 and 1993, the little Alfa drop top outsold almost all of its competitors, most of which were British. Alfa Romeo updated its platform for the first time in more than ten years with the release of the third-generation Spyder, featuring new styling and electronic fuel injection instead of mechanical.
Even the top models of these vehicles retail for less than $30,000, making them a reasonably priced introduction to Italian automobiles. The challenge is to make sure you find a high-quality sample. This is an inexpensive automobile problem, not necessarily an Alfa.
Cheap long-term cars are often overlooked because they usually cost more to restore than buying a new, high-quality vehicle. These types of conditions have created a divide between the best examples, which have seen little change, and the proper and driver-grade automobiles, which have experienced more decline. Usually, this is a sign of picky buyers. This problem is not unique to Alpha; Instead, we’ve noticed it across the market, although it’s more prominent in this one
1995-2001 Acura and Honda Integra Type-R: -13%
Honda really raised the bar in the late 1990s with the Integra Type-R (ITR), when it came to what a sporty, front-wheel drive small car could be. With excellent handling, precise controls and an engine that revs to the moon with ease, this is the purest version of a front-wheel drive Honda. Those who have driven the ITR are still convinced that it is the greatest front-wheel drive vehicle ever made.
About eight years ago, these vehicles began to gain popularity among enthusiasts as reliable collector automobiles. Acura NSX, Nissan Skyline GT-R, and Toyota Supra are three of the most popular Japanese vehicles among collectors. As a result, ITR values have also increased, but not as much as other car values. Exemplary, mile-free models have brought prices close to six figures or more; One even reached $150K. When they started to dribble when they turned 25, Honda ITRs for the Japanese market had a small but significant impact on the market, increasing inventory. Still, they’re not priced lower than US-market Acuras.
Beyond the ITR, there are other notable models like the Mk IV Supra and the FD-Series RX-7 that have also shown signs of slowing down in the market. However, the ITR did not decrease as much as any data was clear about the existence of softness. It is wise to keep an eye on the broader picture, given that one of the early promoters of the explosion of Japanese popularity is showing signs of fragility. If you couldn’t afford your ideal Japanese vehicle before, it will soon become affordable again. However, don’t expect to see the price of a decade ago.
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