The 2003 Monterey auctions saw over 200 cars sell, for a total of $24 million. With that weekend as a backdrop, it’s a good time to take a look back over the year and see just how the collector car market has been doing. In general, sales of cars over $100,000 have slowed down, and there is almost no market for project cars. The real action is in nicely restored sports and muscle cars from the ’50s, ’60s and ’70s that are selling in the $25,000 to $75,000 range. — Keith Martin (www.sportscarmarket.com)
Here is one sale that tells something about a certain segment of the market. Make sure to read about the other three in our four-part series.
1967 Austin-Healey 3000 Mk III Phase II convertible
Black with red leather interior, black vinyl top. Aftermarket Dayton chrome wires. Matching numbers. Excellent paint, chrome and interior. Perfect panel fit. Fresh restoration by an expert, needs nothing.
SOLD FOR $64,625 by Christie’s at Pebble Beach, CA, on August 17, 2003.
These “Big Healeys” (the “Little Healeys” were the Bug-Eye Sprites) continue to soar in popularity and value. With their 6-cylinder engines and overdrive gearboxes, they can cruise easily at 70 mph all day long. Plus, they have classic lines that just shout, “I’m a collectible English sports car.” Beautifully restored ones like this bring $60,000 all day long.
12-month prediction: We’ll see the first BJ8 break the $100,000 mark before 2005.