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5 American Classics Slumping in 2025
We have many dedicated valuation specialists at Hagerty who pay close attention to the collector car market day in and day out. They track sales volume and prices to keep the Hagerty Valuation Tool up to date and pick up on trends. The latest data, published earlier this April, suggests that the overall market is cooling down. As is usually the case, some models are holding strong and even increasing in value, but when the market is trending downward, there have to be some models that took a bigger hit than others. Here are the American muscle and pony collectible models that saw the largest drop in value, averaged across all #1 (Concours) to #4 (Fair) conditions.
As always, if you have questions about how we arrived at these changes, you can read more about the methodology behind the Hagerty Price Guide here.
1968-1971 Mercury Cyclone
-15%
Mercury’s mid-size muscle, the Cyclone came in a number of designs with varying rooflines, all of them gorgeous. Backing up the good looks was an array of powerful V-8s from high-revving 302 Windsor small-blocks to torquey 427 FEs, with both Windsor and Cleveland versions of the 351 available along the way. They were Mercury’s NASCAR ambassador and served as a more upscale counterpart to Ford’s Torino.
Poor auction results at Kissimmee and Scottsdale are part of the reason why Cyclone values have been adjusted, as those venues are often a bellwether for muscle car values in general. Often, these mechanically similar cars are pulled up by rising prices of their mainstream brethren, but are the first to sink back down when the market softens.
1965-1966 Ford Mustang GT
-12%
We don’t need to remind you that the 1965 Mustang was a tremendous sales success. That initial design, carried over with minor mechanical and cosmetic changes for 1966, sold more than 1,000,000 copies, a tremendous volume for a two-door car. The 289-powered GT was the basis for the legendary Shelby GT350, which remains a hot commodity, especially in #1 and #2 condition. Still, the market for the first Mustang GT out of the gate is cooling significantly, with values falling 12% this past quarter. That’s a significant drop for such a stalwart collectible and a sure sign the market is cooling.
1964-1967 Pontiac GTO
-6%
The GTO was created by dropping a big engine and suspension upgrades into a mainstream, midsize two-door with an emphasis on sporty performance. It was arguably the first muscle car, and at least the archetype that the rest of the market would follow in the 1960s. Powered by 389-cubic-inch engines, those early GTOs spawned lots of competition both inside and outside of GM, as the 4-4-2 soon followed. Chevy eventually dropped a 396 into the Chevelle to keep up.
Those 375hp Z16 Chevelles are still increasing in value, just a bit, but the more readily available GTO is slumping.
1968-1972 Pontiac GTO
-5.5%
GM revamped its A-body lineup across the board in 1968. While the chassis carried over with the same wheelbase, Chevrolet, Buick, Oldsmobile, and Pontiac mid-sizers all received major redesigns as two-door models got a more fastback design with shorter trunks than their Coke-bottle 1967 counterparts. Six inches shorter than its predecessor, the 1968 Pontiac GTO was more muscular and aggressive, with an available grille that concealed its quad headlamps.
Again, auction values for these popular muscle cars have been weak at venues where they typically do well. While the perennial favorites are bouncing back a bit after falling earlier this year, many iterations of the GTO are still down across the board.
1961-1964 Chevrolet Impala SS Convertible
-4.5%
Chevrolet’s Impala SS convertible had design changes each year between 1961 and 1964, and many collectors have fierce opinions on which body style reigns supreme. For this bit of data evaluation, however, we put all drop-top SS models, regardless of engine, into one bucket. Values for #1 (Concours) condition cars remain high and, in some cases, the most desirable models, those with high-performance 409 V-8s, are still on their way up. But looking at all of them in aggregate shows that prices are down by 4.5 percent.
Exactly how many good Cyclones have traded. I see so few of these cars let alone good ones traded.
Also auction prices are never the most stable. Especially events where you can drink.
Anyone remember the million dollar Chevelle? That was not a good indicator of the market and may have been influanced by out side things.
Agreed. The high-end, boutique auctions are not a realistic parallel to “the real world” for the high $ or the low $ values. Those deep-pocketed country club hoarder bid prices are rarely based on what drives the typical (not rich) common fan or collector when making a purchase. (“What would Jay Leno pay?” is not the same as “what would my neighbor pay?”) I’d vote for Hagerty removing the high-hifalutin auction house heroes from the price guide valuations would go far to help everyone…. Let the wailing and gnashing of teeth begin….
Hi Mike, thanks for your feedback. I manage the valuations we post online and from our view, every part of the market is meaningful to someone. That’s why we carry nearly 50,000 car, truck and motorcycle configurations in Hagerty Valuation Tools, and we range from the 8-figure Ferraris to the sub-$10,000 Civic.
It’s important to remember that we do not base our valuation on auctions alone, in fact that’s probably less than 10% of the cars that trade hands. I broke the process down a couple years ago if you’d like a peek behind the curtain https://www.hagerty.com/media/market-trends/hagerty-insider/how-the-hagerty-price-guide-is-made/
Thank you for providing the (previously published) thorough explanation — this should clear up several “zombie” misconceptions.
Spot on.
All of the auctions sell alcohol. That’s how they get people to loosen their purse strings. 😆
They learned well from the casinos.
If you’re a really big High-Roller, those drinks are gratis. The higher the Proof, the higher the expenditures.
I wish I were in the socioeconomic group of people who can affored to drunk-buy a six figure car at an auction.
Yessss😂🤣
So GTo’s are down but can I afford one? Probably not.
Maybe they are less than 50k. I still can’t buy one.
My cousin has a ‘65 GTO. I should let him know it’s dropping in value. He will probably sell it to me REAL cheap. NOT!!!
‘65 GTO was my first new car and it was perfect until someone convinced me to trade the Tri-Power for 2-4’s.
Ended up selling the car because it ran like S(:&t
I miss it. For a production car it great.
Exactly. A 60K GTO or 50K is still way too much for a toy. I’ll keep wrenching on the Ole 55. Its paid for. And oh BTW, I had a 65 GTO convertible in my youth. 4 barrel 4 speed car, driver shape. Got $1800 for it after daughter arrived. C’est la vie.
It was just a used car then
The other problem is that it is not even really a toy – you end up rarely driving them because you’re afraid of getting a chip in the paint, or driving like grandma because you’re afraid of breaking something, or afraid of breaking down and not being able to find the NOS part to replace it, and it ends up a museum piece in your garage.
I had an old guy tell me to not drive. My old car was like having a girlfriend and not doing nothing with her so you’re saving her for the next guy I like to drive my old car and my girlfriend too.
I’m with you, I drive ’em hard and if they break I fix it, then do it all over again. If you spend your big hard working money on a toy, enjoy it as you please.
Understood!
I needed rent money, so I sold my ‘66 GTO convertible, tri-power, 4-speed. It was in nice shape, but my timing was off, 1974, during the Oil Embargo.
Got $275.00.
Hopefully this makes you a bit better or at least, not alone. 🤭
Is anything going up though? Otherwise I’m just going to assume we’ll continue to see more of the same as the age group that would want these things continues to die off.
Nate, yes, some things are going up, and most are holding steady. Here’s a quick take on how valuations as a whole are trending: https://www.hagerty.com/media/market-trends/hagerty-insider/as-the-market-cools-values-of-most-collector-vehicles-hold-steady/
Nate,
You hot the nail on the head! Large volume models require a far more substantial potential purchaser base than the limited production Ferrari other “rare” vehicle markets. As the baby boomers who grew up with and appreciate these cars, the supply starts to exceed demand and prices fall. Also explains why “rarer” top-end models — think ‘65-‘66 Shelby GT350 — buck the trend for some of those million-plus ‘65 & ‘66 Mustangs.
Why is it that the buyer always thinks the price is to high unless he owned the car and was the seller. Beauty is in the eye of the beholder,if you like the car buy it,but do your homework
Easy to say when you can afford to buy one without mortgaging your house…
Good things aren’t cheap, Cheap things aren’t good ! Buyer beware. Don’t buy as an investment, Buy it for plesure. Need any more advice ?
That about covers it John.
I agree! Most of us can’t predict car values in the future any more than we can predict a future stock price.
You are right about the stock prices, but I am fairly confident that my 2001 SWB Silverado (5.3) Z71 with low miles will go up in value. Maybe a lot. It already has. I base this because when I go to the Carlisle Truck Show, there are more young people there than at any other show.
Exactly, the pre 1978 collections are for the 45 and up age bracket, unfortunately our health also drops a couple of percentage points so it is what it is. I still love my 68 F250
John: I have to agree wholeheartedly! Buy a painting if you want an investment…
You are so right. For most of us, it’s the enjoyment, not the investment. We almost never get our money back with restorations, but it’s the whole experience, the doing it yourself, people we meet, the car shows, cruising, etc.
Yes Neil, you got it!!
The ‘big-money’ cars are usually bought by people who have ‘big-money’! They are not (usually) doing any kind of work on the cars themselves. It’s a checkbook that drives the process. You can see the attitudes when you view a Barrett Auction. Most of them could not change a spark plug!! It’s a very different market!!
I couldn’t agree more. I’m a motorcycle collector. I end up putting a lot more time and money into them than I could sell them for. But the experience and enjoyment they bring me is priceless
Bingo! I drive my car regularly and enjoy it and the attention it gets. It will get sold for X$ when I die.
John, my wife told me the same about her!
Right. I didn’t buy my ‘39 Chev and ‘37 Ford as an investment. Bought them because I liked them and could at the time. Now that summer is finally here I drive them as much as I dare! Every weekend our club gathers for a bs session on Saturday nights then a short drive on Sundays.
My pristine Candy Apple Red 1966 Mustang GT convertible still turns heads, gets shout outs and beeps from other drivers, and lots of looks at local car shows. I see relatively few of these GT classics up for sale on the classic car sites or at auctions. I get 12% more fun every year of ownership.
Bravo : I’m also in that boat . I own a 65 Chevy Sportvan that I purchased 4 yrs ago. I’ve added my touch to the interior ( body was done ) and a few upgrades to its 327 to increase reliability. However at car shows it’s always draws numerous compliments even tho its “value” may not be great . Drive what you love.
Not this year, you would get 15% less if you sold it…
While technically the 68 Cyclone was early on listed with a 427 in hydraulic cam automatic only form like the 67 Cougar, it’s unlikely that many if any so equipped Cyclones were actually produced. (Only around 200 427 Cougars were produced if my memory serves me) The 428 / 428 CJ is far more common in the 68-69 as the top dog engine options and was replace in 70-71 by the 429/ 429 CJ.
Had a red 66 just like the picture. Have always wished I had not sold it. What does it sell for today?
I am with you Jim. I really wish that these articles included a average or realistic price to give it more meaning.
I still own my red 1968 coupe, bought new by my dad. Not for sale at any price. I don’t think my daughter will sell once it’s hers.
Car collector generation is getting younger. Just go to the big cars and coffee events-all the focus is on funky rice burners with bat wings and a big stainless muffler hanging under the bumper.
I remember back in the 70s when the “old-guys” had a 57 Chevy and my generation had 71 Camaro Z28s and 340 CUDAs, etc…now the younger gear heads like their metrics. The only thing that changed is the vehicles. Collector will evolve and live on.
Hahahaha! And don’t forget, most of them are ugly 4 doors.
You are going to the wrong cars n coffee events then…just sayin.
“The 289-powered GT was the basis for the legendary Shelby GT350.” Umm…No.
The K-Code Fastback (with the solid lifter, 289 “Hi-app”) was the basis for the legendary Shelby GT350. Hard to take this seriously with such a glaring inaccuracy!
“289 “Hi-Po.” Gotta love autocorrect…
Man did I have a good time with my yellow ’65 convertible, 289/271 HiPo with a really neat tonneau cover that I could just have the driver left open when the top was down. Of cause the rally wheels to set all off! I sold it for a ’67 Corvette 327/350 hp convertible. Not sure I did the right thing. I paid $2900 for the Stanger and $3650 for the Vet. Now the Vet is worth at least $80 big ones! Who knew? By the way, the Ford dealer had Cobra 427 listed at $8400!! That was more than some houses!!
Autocorrect is EVIL 😂
I had the 1966 K code four speed burgundy colored 2 + 2 back in the early 70’s. It ran a 14.57 at 101.2 in the quarter with street tires. Only mod was Doug Thorley Headers and a 600CFM Holley. I traded it for a Fairlane because my wife couldn’t drive it and I had a 68 Galaxy 500 fastback with a 390 for my daily driver. Gosh, I wish I had it today. Would be worth more than the newer F150 5 Liter Coyote, a Fusion with V6 and 2006 Mustang GT I do still have all told.
I would have thought 100 in the 1/4 would put you in the low to mid 13’s
I have attended the Mecum Kissimme auction for decades. One thing I have noticed is the correctness i.e. factory restored, varies greatly among similar condition cars. Your value guide does not accurately catch that detail which for certain buyers means a lot. I have seen cars restored to your #1 condition that had many major inaccuracies (wrong engine, wrong year parts, etc). The value guide basicly uses condition as the criteria for #1 through #4. I know it would be impossible to determine accuracy of each car sold but this does make a big difference in value (excluding the resto mod cars). I have noticed the overall quality of the muscle cars at that auction have declined recently. Yes there are some “top shelf” correct restorations but most of the cars are nice high quality drivers with varying degree of correctness and even some #3 and #4 cars. When the overall quality of the cars in the data set are lower the average becomes lower. No doubt there has been stabilization and even some decline after the big increases in the preceding years but correctly restored #1 and #2 cars of the most desirable versions are still bringing strong money. A lot of these cars change hands privately and normally never see a auction.
Hi Mark, I manage Hagerty’s updates to the Valuations and you’re right, while no guide can accurately account for every car that trades hands, like you, we do try to attend as many of the major auctions as we can, and especially for Kissimmee and Scottsdale, we go through and try to take detailed notes on condition and correctness of as many cars as we can (yes, we actually do that despite the thousands of cars trading hands). As you know, valuing cars from a photo set isn’t going to tell the whole story.
Greg,
Notwithstanding the criticisms and limits to Hagerty’s various guides, I think we all appreciate that it is FAR better than nothing and better than anything else out there. Kudos on the effort and the product.
Ditto kudos kiddo.
I will agree with this statement. I have been into Mustangsand Muscle Cars for a very long time which included a few Shelby’s. I never lost money on any that I sold, that said mine where number 2 condition at the time of the sale.
I currently have a 69 Mach1 S-code (390/4speed) and an accurate 66 GT-350 clone. I would not either go for under 75K. It’s just getting too expensive to restore or build a car of this caliber for less money.
You will never get out of it what you have in it. Just a fact.
As a follower (lust-afterer) of the ‘65-‘66 GTO, the difference in value between an original 389 Tri-Power 4-speed and the 4Bbl auto are substantial. The number of 4Bbl Goats converted to Tri-power both reflects that difference and underscores the need to carefully document originality. I’ve even seen a’66 GTO touted as having an “upgraded” 400 cubic inch motor from later year models! Give me a break! That detracts from real value, but I guess some people will get suckered in and buy it.
Vintage race cars are a similar phenomenon.
I remember the forerunner of Pontiac Historical Services, GM-run, once opined that 70% of the GTO verifications requests were for bogus GTO’s.
So are there more GTO’s today than were manufactured?
(😂😂😂)
Another nuance in value is originality. A lot of #1 cars wear many reproduction parts. Some of these parts faithfully represent the originals but more often they do not. Recently I read a Haggerty article about a LS6 Chevelle that was obviously not a #1 condition car but sold for more than a #1 car value. The reason being it was a well documented original car in very good condition. Cars are only original once and so many muscle cars had engines replaced, were modified, etc. Finding a car with it’s original complete drivetrain and predominantly original parts is rare these days and typically brings a higher sale. Factor in the fakes, clones, tribute cars and you can see why originality and plenty of legit documentation can affect the value.
I have a very original 1971 Skylark with less then 54K miles on it. 350-4v, THM350. Factory Air. I am old and at the end of my life and I can’t even get anybody to LOOK at the car let alone buy it. I am negotiable on the price but I don’t want to get sodomized either.
Funny, a 71 chevelle comparably equipped is pushing close to 50K and mine is less then 19K.
Maybe you’re trying to sell it in the wrong place.
https://classiccars.com/listings/find/1971/buick/skylark
In keeping with Daniels call for accuracy I must correct my previous statement. The 427 was a one year only available in the 68 Cougar GT-E with 357 produced. Apparently this option was cancelled for the 68 Cyclone and none were produced.
After 50 years of this exciting Hobby, I had started early enough to remember seeing prices creep up to what I thought was maxed out in the late 80’s. I was wrong. As the cars the guys saw in high school, married with children, kids college. When all the dust settles, home paid for, they are buying that dream car which now drives that market! As the guys either pass or get too old, (it happens), guys of the 50’s, 60’s muscle car craze, the market goes down. Then the kids or widow sells the car, not totally knowing the true value. It’s also been said alcohol at the auction doesn’t always represent a true market Value 🤣🫣
💯
Down a percent of what?
It would be more interesting if values were posted.