Will the New Rub Off on the Old?
Will the new Dodge Challenger affect the classics? And what’s the state of the collector market these days?
Words: Roger Meiners
Editor’s Note: While planning for this special Dodge Challenger issue, we got to wondering what effect the all-new Challenger would have on the classic models from decades earlier. When in doubt, ask the experts. So we contacted Drew Alcazar, President of Russo & Steele, the classic car auction house and asked the simple question: What will happen to classic Challengers when the new model wheels on to the scene …
… He responded with an honest “not so much,” when we asked that question. “I’m not predicting a dramatic effect,” he said. “It can’t hurt, though,” he added, in reference to the impending introduction of the 2008 car. He thought the new Challenger would bring the classic brand to the forefront, but the current broad “correction” in the muscle car market would not be counteracted to any extent.
Alcazar says the new Challenger presents an opportunity for those who love the old Challenger to indulge their passion in a new classic. Here is a car that the enthusiast can park in the garage and have immediate access to. One doesn’t have to go out, take off the car cover, disconnect the battery charger, air up the tires and crank for several minutes before going out for some fun. The new classic 2008 Challenger will be there for instant gratification.
Alcazar says the American muscle car market is soft. He has some theories as to why this is happening. “Perhaps the market has reached the saturation point,” he said. “For example, there were more HEMI® ‘Cudas produced in 1970-1971 than the entire production run (1947-1971) of Ferrari cars at that point.”
He says that collector money is focusing on world markets, especially European sports cars such as front-engine V12 Ferraris, Mercedes-Benz 300 SL Gullwing coupes and other such exotic cars that can sell anywhere in the world. A Gullwing coupe sold for $780,000 recently, he reports. Alcazar admits that this particular car was probably the best in the world at the time of sale. It was even on its original tires. By contrast, muscle cars are uniquely American for the most part.
Even though the muscle car market is soft, there are opportunities to buy rare and collectible examples—and there are probably a few coming to market now, cars that are emerging from long-term restorations. To be collectable, says Alcazar, these cars have to have ALL of the following attributes:
- Original
- Documented
- Numbers-matching
A classic Challenger, perhaps a 1970 convertible, with a HEMI or a 440 Six-Pack will always be desirable and rare, no matter what happens to the rest of the muscle car market. Cars with the popular 318 V8s, won’t have the ability to command a high price, Alcazar predicted.
“And the weakest market segment is the one that includes clones, tributes and resto-mods,” says Alcazar. Creating a HEMI clone or tribute isn’t the way to go. One would spend more on the project than can be returned when it’s time to sell. The same goes for “resto-mods,” old cars that are updated with modern chassis and powertrain parts.
Perhaps the best advice, according to Alcazar, is to buy a car you like and enjoy it for what it is to you, and don’t worry about value. If your taste runs parallel with what’s hot in the market, which isn’t all that certain, you could even come out ahead financially.
So if you like the new Challenger, go get one. If you prefer a classic, there are probably some good deals out there. From our viewpoint, you can’t go wrong either way.
