The value of muscle cars is always shifting with the times. Just like other commodities, muscle cars are subject to booms and busts. They first hit their peak in 1970, when practically every American automaker from AMC to Oldsmobile offered their own take on a souped-up-coupe with a V-8. But fast forward a few years into the gas crisis and you couldn’t give muscle cars away if you wanted to.
Collectors sparked buying frenzies in the ’90s and the 2000s that, ultimately, cycled into more dips and rebounds.
But after several years passed, collectors sparked buying frenzies that spanned several decades leading into today. And with these frenzies came, you guessed it, more dips and rebounds.
None of these fluctuations quite compare to summer of 2021. We’ve seen several top rated cars sell for incredible seven-figure prices at auctions.
And now for the question on everyone’s mind: How long can this last? Common sense dictates that another bust is on the horizon due to how hot the market is - especially as collectors tend to dip out of the market. The real answer, however, is much more complex.
Have Classic Muscle Cars Reached Their Historic Highs ?
Let’s first take a minute to define what we mean by “all time high.” To get a better idea of how these prices are changing, we’ve been keeping track of the biggest movers and shakers in the market segment. This includes models like the 1970 Chevelle SS LS6, Mustang Boss 429, and of course the Plymouth Hemi Barracuda Convertible.
Nearly all of these cars shot upwards in our latest price tracking. Out of all of them, the Hemi Cuda Convertible fetched the biggest increase. A great example would be a recent offering from Mecum Auctions back in may for a ’71 Hemi Cuda Convertible. This unit brought a reported high bid of $4.8 million. That’s the highest price we’ve ever seen offered on a muscle car! Other cars, like the 1970 LS6 Chevelles haven’t hit anywhere near their pre-2008 prices, but we are still seeing the highest prices in a decade or more.
There are, of course, big differences between these six and seven-figure muscle cars and a 289 Mustang, for example. In spite of this, the trends are quite similar for the most part. In our latest round of research, we’ve seen double-digit percentage increases for cars like small-block first-generation Camaro Super Sports (up 14 percent), '70–72 C-code (289cid/200-hp) '65–66 Mustangs (up 10 percent).
Some of Most Expensive American Muscle Cars Ever Sold at Auction
1971 HEMI 'CUDA CONVERTIBLE – $3.5 MILLION.
1967 CORVETTE L88S COUPE – $3.85 MILLION.
1966 SHELBY COBRA 427 “SUPER SNAKE” – $5,115,000
1964 FORD GT40 PROTOTYPE – $7 MILLION.
1962 SHELBY COBRA CSX2000 – $13.75 MILLION.
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