Despite the economy rebounding slowly or not at all, in-person automotive auctions have come roaring back to life with a vengeance. The collector car market is behaving in ways that are somewhat surprising, with classic muscle cars like the iconic Plymouth Superbird still pulling down very strong money when rolling across the block.
The recent Mecum auction in Las Vegas crushed yet another record, realizing almost $28 million in total sales. Top results went to predominantly late-model sports and muscle cars, with a 2021 Mercedes-Benz AMG GT Black Series leading the way at $462,000. The Ford GT continues to demonstrate why buying one 10 years ago was a very smart move, and perhaps the most surprising result is three restomods that all came close to reaching $300,000. A '67 Ford Mustang, '54 Buick Century, and '39 GMC fire truck were all show stoppers and show that muscle cars and trucks are still capable of bringing big money if they've been modernized to offer more appeal to younger buyers.
This era of car collecting is like the rest of the world at the moment: unpredictable. But it goes to show you that unlike your 401(k), desirable hobby cars are only going higher.