Could You Be Passing Up a Potentially Profitable Collector Car?
24 August 1998
Hemmings Motor News: Could You Be Passing Up a Potentially Profitable Collector Car? BENNINGTON, Vt., Aug. 24 -- "'Sleepers' among present and
future collector cars are still available throughout North America, many for
well under $10,000," says Hemmings Motor News Technical Editor, Dave Brownell.
In announcing his annual "Top Ten Sleeper List" Brownell noted that there
is a wide mix of affordable cars ranging in age from the late 1940s to the
late '80s which are advertised in Hemmings each month.
While the majority of his Top Ten picks are US cars, there are also makes
from Italy and England in this year's list, offering a range of cars from the
most practical to a highly sporty.
On the practical side, the 1998-99 choice is the tough, reliable Willys
station wagon built from 1949 to the early '60s. The grandpa of today's
luxury Grand Cherokees may be a bit on the Spartan side but they are still
rugged workhorses which now also participate in shows and meets of vintage
cars. These four wheel drive wagons are the predecessors to today's SUVs and,
from a historic viewpoint, are the first all-steel station wagons. Recent
examples for sale in Hemmings have ranged from $1,800 for a 1961 needing
brakes and seats to $2,500 for a 1955 that "runs great."
Although Chevrolets from the '50s are already quite popular as collector
cars, Hemmings sees some upward potential in the 1951-52 Chevrolet Bel Air
convertibles and hardtops. These are pleasing cars to see and to drive and
the simple, straight-forward mechanicals make them easy and economical to
restore and maintain, offering an ideal "starter" car for the new
hobbyist/collector. Hemmings readers have been offered a '51 Bel Air hardtop
in "decent condition" for $3,950 and a 1952 convertible for $2,500 in recent
issues.
A surprise entry in the "Top Ten Sleeper List" might be the 1953-54
Plymouths. These cars had disappointing sales when new, mainly because of
their compact size and low-key styling at a time when cars were becoming
longer, lower and flashier. Today, however, these Plymouths are gaining new
appreciation among collectors who enjoy their simple, tough chassis and
engines and honest exterior design. In Hemmings recently, a '54 Savoy
two-door was offered for $3,750 and a '53 business coupe for $800.
The 1961-67 Sunbeam Alpines have been overlooked as collectible sports
cars. While the V-8 powered Tigers grab all the headlines thanks to their
Cobra-like performance, the Alpines have languished despite being a formidable
SCCA competitor in their day. They really were the first British sports cars
to bring a modicum of comfort and modern style to two-seaters. They had
roll-up windows, a generous interior and styling which debuted with slight
fins and few years later was changed into what looked like an updated 1955-57
Thunderbird. Currently they are quite underpriced compared to other sports
cars. A recent Hemmings advertiser offered a 1961 with "body-off high point
restoration" for the highest offer over $4,500. Comparable Triumphs and MGs
have prices twice that or more.
Nearly-forgotten compacts of the '60s, the 1964-67 Mercury Comet Caliente
hardtops and convertibles qualify as sleepers. With distinctive, upgraded
trim combined with a proven, economical six-cylinder or V-8 drive train
derived from the popular Ford Falcon, these were the high-end Comets and sold
in modest numbers, making them quite a rare sight today. In a recent Hemmings
a 1965 Caliente hardtop with a 289 V-8 and a "rust-free body" but needing
restoration was offered for $1,600.
Another Mercury model that Brownell considers underpriced are the 1967-69
Cougar hardtops and convertibles. Essentially, these are re-styled, upscale
Mustangs but currently sell for less than their Ford cousins. Interiors are
more plush in the Cougars, especially the XR-7 series, and they offer the
performance of a Mustang. All the Cougars in these years had a 289 V-8 engine
as standard equipment. Recent Cougar ads included a 1967 XR-7 hardtop, "100%
rust free," in storage for many years, available for $2,900.
The car that Dustin Hoffman made famous in the movie "The Graduate" has
excellent collector potential. Alfa-Romeo's 1966-69 Duetto spiders are
stylish, quick, attractive and reasonably priced. Though prone to rust and
capable of being mechanically temperamental, these Alfas nonetheless have
great looks, abundant parts supplies and restoration specialists, club support
and activities, plus a growing circle of admirers and enthusiasts now that
their predecessor Giulietta and Giulia models have gone well past the $10,000
mark for good examples. Hemmings Alfa seekers were recently offered two 1969
Duettos, one described as "nice" for $6,900 and a "restoration project" for
$2,500.
The last of the "big" Triumph sports cars, 1969-76 Triumph TR-6s make the
sleeper list for a number of reasons including their performance, appearance
and attractive current price levels. Powered by a smooth, rugged inline six
not unlike a miniature Chevrolet, the TR-6 offers a blend of civilized comfort
and rough-and-ready sports car appeal. They're available in abundance
throughout the country and recent Hemmings have had a '72 TR-6 roadster in
"excellent condition" for $7,500 and a 1969 TR-6 that "runs great" and has "no
rust" for $5,000, among many others offered for sale.
Buick's traditional image is that of staid, solid, well engineered cars
but exceptions are the 1968-70 Buick GS400 hardtops and convertibles. While
they may be solid and well engineered, the word "staid" certainly doesn't
apply to these street fighters from Flint. Using the 400 cubic-inch Wildcat
engine and Hurst three-speed stick as standard, these Special-based Buicks
also carried their own special grilles and model i.d. A 1969 GS400
convertible that "looks and drives excellent" was available in a recent
Hemmings for an asking price of $6,000.
One of the most innovative cars to come out of General Motors over the
past 25 years was the Pontiac Fiero. After initial quality problems these
mid-engined, plastic-paneled sporters matured into quick, great handling
two-seaters, and the 1986-88 Fiero GTs look like potentially profitable
sleepers that owners can drive every day and still take to shows and events.
Hemmings ads have offered Fiero GTs including a 1987 in "perfect condition"
for $5,600 and a 1988 with a five-speed and T-top for $5,995.
Brownell emphasized that buying a "sleeper" or any car strictly for
speculation is a game best left to professional vintage car dealers. "First
and last, buy a make and model you like. And look for the very best example
consistent with your budget. The economics of car collecting today argue for
buying a car in excellent original condition or one that has been restored
rather than starting with a basket case and hoping for the best. You'll
invariably put more into a rough car than it's worth when restored," the
Hemmings Technical Editor concluded.
