The Old Cars Weekly staff has been making the 2009 Old Cars Weekly Collector's Calendar, and there are some fantastic cars. In fact, there are more than 13 fantastic cars (one for each month and the cover), and we already know we won't be able to use them all.

So, we're doing the next best thing -- we're using the cars in the calendar as feature story subjects, so regardless of whether your car was selected for the calendar, you may be getting a call from an Old Cars Weekly editor to talk about your car!

2008 Treasure Hunts
Hot Bird, #05/12; Collector #165/196; #M6971
This casting takes even a young punk like me back to his youth. When I was a kid, every kid had one of these in their Hot Wheels Collector’s Case, along with a Sheriff Patrol car and a ‘57 Chevy. These Smokey and the Bandit-era Firebirds were only slightly used cars, but cool ones at that, especially given the bulk of uninspiring new cars offered in the early 1980s.
Although an old casting, the 1979 Trans Am-based Hot Bird has been given a fresh place in the spotlight as a 2008 Treasure Hunt. It has also been given a shimmering gold paint job worthy of its name and status as a long beard in the Hot Wheels line. In addition to its gold paint, the body sports black stripes starting between the T-top openings and down to the deck lid, ending just before the spoiler. There are also stripes outlining the character lines of the body sides, stretching between the wheelbase. And, of course, there’s that screaming bird spread out across the hood and wrapping around the Shaker hood scoop. Hot Wheels designers used a little creativity here while maintaining the integrity of the famous bird -- they designed a black panel with the bird cut out of the middle, leaving the winged creature to be the color of the body. This trick makes the hood appear blacked out while keeping the feathers from being ruffled on the famous source of the Firebird Trans Am’s power.
The crowning touch is the big, red-colored tail lamps, and best of all, the casting retains its all-metal construction. I can’t think of a better addition to the Treasure Hunt series. Welcome, Hot Bird!

Not only does the Old Cars staff get questions about old car values on the phone all day, we sometimes get them from our co-workers. In our Iola, Wis., office, there are about 250 employees working on books and magazines, and not just in the car hobby. One of those co-workers, who I see every Tuesday when we send Old Cars Weekly to the printer, came up with a question about the value of her fiancée’s “old car.”

Apparently, my coworker’s fiancée inherited an old car from his cousin some years back and had been offered money for this car, even though it wasn’t for sale. I was expecting it to be a used car or, at best, a 1970s Chevelle or a 1957 Chevrolet. I was shocked when she told me it was a “Dodge Coronet with a 436.” Well, or course, my jaw dropped because I knew she probably meant it was a 426, which would make it a Hemi!

Another co-worker who’s a fellow gear head had seen pictures and confirmed the car was a Coronet R/T with a Hemi, but he had seen the pictures so long ago he could not remember if it was a 1967 or ’68. The car was portrayed as a good original with 55,000 miles, but I did not see it in person.

Apparently, the fiancée had been offered $80,000 for the car, and she wanted to know if it was worth selling. I, of course, told her not to sell it, but we looked at some prices as a point of comparison. Here’s what I found for 1967 and 1968 Hemi Dodges:

1967 Hemi Coronet R/T selling prices:
1. $200,000 - Four-speed car, Old Cars Price Guide No. 1 condition, Feb. 2007 RM Auctions sale
2. $75,000 – Automatic car, Old Cars Price Guide No. 2 condition, Jan. 2007 Barrett-Jackson sale
3. $87,000 – Four-speed car, Old Cars Price Guide No. 2 condition, modified, Fall Kruse 2006 sale
4. $85,000 - Automatic car, Old Cars Price Guide No. 2 condition, Fall Kruse 2005 sale.

1968 Dodge Hemi cars
Note: Coronet R/T’s with Hemi engines were few and far between in the database. With the hot new Charger, it’s my assumption most Hemi buyers went for the Charger, rather than the Coronet R/T. Since selling prices were rare, I threw in a few Coronet Super Bee and Dodge Charger R/T prices.

1.    $102,500 – Automatic Super Bee, Old Cars Price Guide No. 1 condition, Mecum High-Performance auction Oct 2006
2.    $40,250, four-speed Coronet R/T hardtop, Old Cars Price Guide No. 2 condition, Mecum Kansas City 2002 sale
3.    $117,500 – Automatic Charger R/T, Old Cars Price Guide No. 2 condition, Barrett-Jackson 2007 sale.

Old Cars Price Guide does not offer values for Hemi cars at the moment and labels them as “inestimable.” And you can clearly see why: values are all over the map, and comparing cars becomes almost impossible. It does appear that people are willing to spend the extra money on four-speed cars, which is not surprising.

Do I think $80,000 is a good offer for the Hemi Coronet R/T owned by my co-worker’s fiancée? If it’s a 1967, that sounds like a fair price. If it’s a 1968, I think it’s a little low considering most people consider 1968 Coronets more desirable than 1967 models. I hope my coworker and her fiancée hang on to their prize and enjoy it for a few years before selling it.

Those of you who read Old Cars Weekly and this blog probably remember the one-of-tree 1956 Imperial convertible rusting away in my coworker’s backyard. Upon learning there is a hidden Hemi car also parked in my coworker’s garage, I’m beginning to wonder what other treasures are tucked among the trees of the isolated Iola community! Hopefully, we'll get some pictures of the car that I can share in the future.

As promised, here are some 1956 Cadillac price observations:


1956 Cadillacs:
Current OCPG values:
Series 62 two-door hdtp: #1 41,000; #2 28,700; #3 18,450; #4 8,200
Series 62 Coupe deVille: #1 42,000; #2 29,400; #3 18,900; #4 8,400
Eldorado Seville coupe:  #1 47,000; #2 32,900; #3 21,500; #4 9,400
Series 62 convertible:      #1 87,500; #2 61,250; #3 39,380; #4 17,500
Eldorado convertible:      #1 118,500; #2 82,950; #3 53,330; #4 23,700
Series 62 Sedan deVille   #1 35,000; #2 24,500; #3 15,750; #4 7,000

It takes a novice Cadillac fan to tell the difference between a 1955 and 1956 Cadillac. It takes an expert to tell that those differences are more than subtle. Although 1955 and 1956 Cadillacs are very similar in appearance, only the roofs and doors are interchangeable. The inner body structures are nearly identical, if not completely identical, but the outer metal is vastly different. From 1955 to 1956, decklids, front fenders and rear quarter panels, as well as the bumpers, are completely different (I haven't been able to confirm whether or not hoods are different, but I'm fairly certain they are, too). Cadillac collectors who choose one model year over the other do so more out of personal preference than any other reason. The sheet metal changes to 1956 Cadillac intend to make it look lower and longer. Some Cadillac collectors prefer this look to that of 1955 Cadillacs, while 1955 Cadillac fans will tell you these changes make the 1956 look heavier than the 1955 models.
Under the hood, 1956 saw an increased bore and stroke to its overhead-valve V-8, and displacement went from 331 cubic inches to 365 cubic inches. A revised Hydra-Matic transmission was also implemented in 1956. Some 1956 Cadillacs experienced lifter problems with the 365-cid V-8, as well as problems with the revised-for-1956 Hydra-Matic transmission. Of course, many Cadillac owners experienced neither of these problems, though the cars gained a reputation as being mechanically troublesome, whether they deserve it or not.
As collector vehicles, these problems, whether relevant or not, have little reflection on the values and preference of 1955 to 1956. So, that leaves collectors to selecting a 1955 or 1956 Cadillac to their personal taste. Regardless, 1956 Cadillacs were showing higher prices in the past, but it does not appear to be the case any longer.
Data for 1956 Cadillac Series 62 coupes includes only one sale for a No. 3 car in 2007 at $21,000. Three sales in 2007 for No. 2 Coupe deVilles showed values of $22,000, $20,700 and $20,000 for an average of $20,900. That seems like a steal. Two No. 3 1956 Cadillac Coupe deVilles sold for $15,000 and $26,000 last year, the higher-priced car selling at a televised Arizona auction in January. Given the publicity surrounding the $26,000, No. 3 Coupe deVille sale compared to the sale of the three No. 2 Coupe deVilles and the remaining No. 3 Coupe deVille, the televised sale is not an accurate reflection of the marketplace.
When it comes to drop-top 1956 Cadillacs, the status quos appear to have been maintained, unlike in 1955. Eldorado convertibles retain their price advantage over Series 62 convertibles. Examples include No. 2 Eldorados selling for $76,000, $79,000 and $101,000 are recorded for an average of $85,000. No. 2 Series 62 convertibles are limited to two cars at $50,000. A No. 1 Series 62 sold for $72,500, and a No. 2 Series 62 convertible sold for $52,000. This is right on target for Cadillac value hierarchy, but much lower than current Old Cars Price Guide values.
Sedan deVille prices also appear to be a little down. While Old Cars Price Guide values show No. 3 cars to be in the $15,750 range, actual sales show prices in the $10-12,000 range.

Conclusion:
Prices for 1956 Coupe deVilles are down slightly, and have been passed by comparable 1955 Cadillac prices. Unfortunately, the lack of data on Series 62 coupes does not allow us to compare the trend of seeing higher prices of Series 62s to Coupe deVilles as can be seen in 1955. Convertible Series 62 and Sedan deVille prices also appear to be down, while 1956 Eldorado prices seem to be on target with OCPG, if not a bit higher.

Ain't this a great old photo? I'll take the green Series 62 coupe, and the red Coupe deVille, and the pink Series 62 convertible, and the Biarritz. Oh, and that green Seville would like nice in the garage, too, as would that black Series 75 sedan (if there's room). Can't leave that Series 62 sedan by itself, either...

My family's 1955 Cadillac Series 62 coupe parked in front of the SS Spartan in Ludington, Mich., after ferrying across Lake Michigan on the SS Badger. Except for a repaint of the black top, this car is all original and AACA HPOF-certified -- and I love it! (Photo courtesy George Cuhaj)

I always like to learn the backstory behind a car, so when I was surfing the net last weekend and found a link to Cadillac Ranch that explained the back story behind each Cadillac. I'm not real fond of some of the comments as they relate to newer Cadillacs, and other Caddy fans won't want to find out what the builders did with an "extra" 1959 Cadillac that wasn't used in the construction of the monument.
Enjoy!
Cadillac Ranch

(If the link above doesn't work, paste the address below:
http://www.libertysoftware.be/cml/cadillacranch/ranchcars/crabcars.htm )

A friend is looking at buying a 1950 Cadillac, so I checked prices in Old Cars Price Guide, as well as the Old Cars Price Guide database, which includes auction results from more than 100 auctions each year. While sifting through the results, I noticed some interesting trends in 1950 and 1955-’56 Cadillacs. For this blog, I'll address what I found in the database in regards to 1950 Cadillacs.

1950 Cadillacs:
I was checking out these prices for a friend who is looking at a Series 61 coupe. Here are the prices currently in Old Cars Price Guide:

Series 61 two-door hardtop: #1 36,000; #2 25,200; #3 16,200; #4 7,200
Series 62 two-door hardtop: #1 30,000; #2 21,000; #3 13,500; #4 6,000
Series 62 Coupe deVille:     #1 42,000; #2 29,400; #3 18,900; #4 8,400
Series 62 convertible:          #1 85,000; #2 59,500; #3 38,250;#4 17,000

1950 Cadillacs: 2007 and 2006 coupe database results:
There’s not a record of a Series 61 coupe selling at auction in 2007, but a couple Coupe deVilles popped up in No. 3 condition for 37,000 in 2007 and 27,250 in late 2005. Independently, there isn’t enough information here to draw a solid conclusion. However, a No. 2 Series 62 coupe sold for $33,000 in 2007 and a No. 3 Series 62 coupe sold for $27,250 in 2006, giving a good indication that there is an upward trend in values to hardtops.

1950 Cadillacs: 2007 and 2006 convertible database results:
Oddly enough, when it comes to convertibles, the trend appears to be going the other way. There are an astounding four 1950 Series 62 convertibles in No. 2 condition listed in the database from 2007 alone. These four cars fetched between $45,000 and $51,000. A fifth convertible, in No. 3 condition, was listed as selling for $49,500 at a 2007 January Arizona auction (this alone is good evidence why the January Arizona auction results are rarely considered in Old Cars Price Guide updates). These prices tell me that the No. 2 price is approximately $10,000 too high, which will affect other Cadillac prices across the board. (If a No. 2 price has gone down, then the No. 1 and No. 3-No. 6 prices should go down, too.)

Conclusion:
1950 Cadillac hardtop prices are likely up, while convertible prices are down. We'll have to watch this trend unfold and see if it continues.

While fellow OCW staffers Ron Kowalke and Meredyth Albright were out in Arizona, covering the Scottsdale-area auctions, I stayed back, manned the phones, answered the e-mails and somehow found time to prepare the latest issue of Old Cars Weekly.

While here, I received periodic updates from Old Cars Weekly asking, “Did you see what this XXX sold for?” and “Can you believe XXX sold for that much?” Through these updates, and following Ron and Meredyth’s return, I was able to piece together a few observations about what cars people are spending their money on.

One of the first calls I received was on a 1980 Pontiac Trans Am Turbo with a 301-cid V-8 that sold for around $70,000, and a 266-mile 1974 Chevrolet Spirit of America Impala two-door hardtop that fetched $30,000. Since the Chevy had such low miles, I’m not surprised by the dollar amount. Low-mileage originals continue to get big bucks, and probably always will, just as it should be. But the T/A is surprising. It’s good to see “later” muscle cars getting these kinds of dollars, but before you start complaining that price guides have your circa-1980 Firebirds undervalued, realize that not EVERY 1980 Firebird is worth this much. These cars (and by “these cars,” I mean 1970s and early 1980s muscle cars) have been undervalued for some time, so we may see the level of attention being paid to these cars escalate as the teenagers who enjoyed them in the 1970s and ‘80s get more disposable income and start shopping for a collector car. If you’ve got one, hang on to it. If you’ve always wanted one, now’s the time to buy.

When it comes to pure muscle cars, and by that, I mean 1960s and early 1970s GTO’s, Super Bees, Challengers and Mustangs, the market has clearly regained its sanity. Half-million-dollar Hemi ‘Cuda coupes are no more, and that’s the way it should be. Bidders were clearly overpaying for these cars at more than half-a-million bucks, and only the brave admitted that in public. (At Barrett-Jackson’s 2006 January sale, a Hemi ‘Cuda fetched $650,000, and two other Hemi ‘Cudas were in $400,000-500,000 territory.) These days, the cars are trading for around the $150,000 mark, and that seems fair. And ignore those panic-inducing journalists just looking to create waves when they cry, “The muscle car market is dead!” It’s not, and they’re morons. Muscle cars possess the universal combination of features collectors of every era look for, and will always look for: performance, beauty and rarity. As long as people are refining dead dinosaurs into fuel, you’ll never be able to buy a Hemi “anything” for $10,000 again. But you probably won’t lose your shirt if you drop your life’s savings of $150,000 or less on a Hemi Challenger.

If you’re an investor, the Arizona auctions did show you something to fear: clone prices are collapsing. I say “Amen.” These cars should NEVER have been worth six figures. Ever. So, put down your torch and leave the original 396-cid V-8 in your Chevelle or 340-cid V-8 in your ‘Cuda, because your Hemi or SS-454 clone will never be worth as much as your car was with its original smaller-displacement muscle car engine. Want proof? How about a $68,000 1970 Hemi Challenger clone at this year’s Barrett-Jackson sale? I thought so. And if you ask me, that’s still at least $28,000 too much. Or, ask Drew Alcazar of Russo & Steele, who noticed the downward trend of clones in early 2007, if not earlier.

Truth be told, clones were already coming down last year. At the January 2007 Barrett-Jackson auction, a 1970 Challenger R/T SE Hemi clone fetched $115,000, showing how much clones were already coming down from the $150,000-plus range.

If muscle cars are down, where’s the money, you ask? Classics with a big “C.” People looking to spend big bucks on old cars must have finally pulled the switch and seen the light bulb turn on. While many people were drinking and bidding on muscle cars, Classics were fetching the same kinds of dollars some muscle cars were getting at the “pre-market correction” peak.

Most knowledgeable car collectors never agreed with the idea that a mass-produced car with a performance engine (think Hemi ‘Cuda) was worth as much as a Classic car, especially those with hand-built bodies from renowned coachbuilders on performance-oriented chassis (think Duesenberg). And while some muscle cars go back to more realistic prices, many Classics have continued to rise in value.

Since I’m a Duesenberg nut, some examples are Duesenberg sedans for around $250,000 to 500,000, depending on body style, coachbuilder and provenance. In 2008, we’re seeing starting prices for sedans in $500,000 territory, and up. Want examples? At Gooding Co.’s January sale in Arizona, $1 million even was paid for a Murphy Clear Vision sedan. At the 2007 Kruse fall sale in Auburn, Ind., a Rollston sedan fetched $875,000 on the block.

Packards are another good example. At the widely attended Otis Chandler sale in Oct. 2006, the money was flying in a fashion that can, at the very least, be called “insane.” There, Chandler’s 1934 Packard Twelve Dietrich coupe sold for $1 million. At RM Auction’s January 2008 sale, one of the few other matching 1934 Twelve Dietrich coupes sold for $1.8 million.

Before you go out and find of the other 1934 Packard Twelve Dietrich coupes of the handful built, stop. Think. Remember, investing in cars is just as risky as investing in the stock market. Perhaps even riskier. My advice is this: buy something you like, and something you can afford. Study values of your car in price guides (like Old Cars Price Guide), other publications, classified ads, auctions prices, etc., before you write the check. This way, your risk is greatly reduced. And don’t buy a car because it may be worth more in the future, buy it because you want to have fun and meet people.

Many of the people I know with million-dollar cars didn’t buy them because they wanted to make money, they bought the cars because they liked them. And they still do. When it’s time to sell, they’ll make out very, very well. But that’s the furthest thing from their mind. And when you’re behind the wheel of your car, its value should be the furthest thing from yours, too.

J-149, chassis number 2174, a LeBaron phaeton, at the RM Auctions sale in Scottsdale. It fetched $1.7 million. (Meredyth Albright photo)




J-334, chassis number 2302 (with bellhousing J-281), a LaGrande phaeton, at the 2008 Barrett-Jackson sale. It fetched $1 million. (Meredyth Albright photo)