I was sure my 1966 Alfa Romeo Duetto would bring $75,000 — if not more — when I listed it on Bring a Trailer in July 2024. It had a perfect pedigree, had never, ever been rusty, and came with a rare, restored factory steel hard top. A red Duetto had always been my dream car, and this was a good one. Others had been pulling strong numbers as well. Unfortunately, the winning bid was just $63,000 before commission. The auction had 23,585 views, 1,385 watchers, 30 bids and 151 comments. Seller 911r did a typically masterful job of photographing, describing and […]
I was sure my 1966 Alfa Romeo Duetto would bring $75,000 — if not more — when I listed it on Bring a Trailer in July 2024.
It had a perfect pedigree, had never, ever been rusty, and came with a rare, restored factory steel hard top.
A red Duetto had always been my dream car, and this was a good one. Others had been pulling strong numbers as well.
Unfortunately, the winning bid was just $63,000 before commission. The auction had 23,585 views, 1,385 watchers, 30 bids and 151 comments. Seller 911r did a typically masterful job of photographing, describing and creating a video of the car.
The only negative comments revolved around overspray in places from the relatively sloppy but quite old respray in the original red.
I explained that I bought this car to drive it, not to show it. The paint presented well, and I didn’t think I would get value back from the $20,000 or so I was quoted to bring the car to a concours-caliber condition.
Although seven Duettos had sold recently above the $75k mark, the market had already started its downward trend — and I hadn’t been paying attention.
I believe that 911r got me all the money under the circumstances. Happily, the new owner has shared with me that he is delighted with the car.
Unquestionably, there has been a general deflation of certain segments of the market over the past two years, and that is accelerating in some cases.
The passing of the torch
While we have been prevaricating about collectors “aging out” for decades now, it is actually happening before our eyes.
This can make it a tough time to sell certain cars, though it also makes it an advantageous time to buy.
As a Baby Boomer, the cars I watch with most interest are those I first learned about by reading Road & Track in my teens. Triumphs, Austin Healeys, MGs and Alfas were all on my dream-car list. And over the past 50 years, I’ve owned several from each of those marques.
Interest in and prices of these cars peaked about a decade ago. Today, two things are conspiring in their price deflation. Those are value-in-use and what I would call “swagger.”
Taking it to Tahoe
Let’s use Big Healeys as an example.
The B-series 3000s are among the most “livable” of affordable (under $100k) classic sports cars. Their 2.9-L 6-cylinder engines offer copious power and torque. With overdrive engaged, they cruise effortlessly at 70 mph.
One of my favorite classic-car memories involves being in a caravan of Healeys from Portland to Lake Tahoe, CA, for the Open Roads Conclave in 2002. We were celebrating the 50th anniversary of the marque.
My car was a 1962 3000 BJ7, with a vinyl dash and tiny rear seats perfect for road-trip essentials.
I’ll never forget our 7 a.m. start, with a dozen or so Big Healeys sputtering as they came to life and chokes were slowly disengaged. Our route was all two-lane back roads, and the sounds the cars made, going in and out of their fourth-gear overdrive, were intoxicating.
Next year, the 75th anniversary of Austin-Healey is being observed, though some owners may have little to celebrate. Prices of Big Healeys have cratered over the past three years. One expert told me that his 100M that was bought for $250k is now worth half that, if he could find a buyer. There really is no “new generation” of enthusiasts interested in Big Healeys.
Compared to a used Acura NSX, Datsun 240Z or Mazda RX-7, Healeys are primitive. If you’ve been raised on Next Gen sports cars, why would you want to struggle with chokes or fuss with side curtains? We should also mention that Healeys are terribly unsafe, with “eject before impact” being a recommended course of action.
Owners of classic ’60s sports cars also face the conundrum that there are fewer and fewer opportunities to put them on the road. No car is less suited to a modern 80-mph freeway full of two-ton SUVs and crew-cab pickups than a classic one.
Rallies and tours must be carefully planned to stick to “blue highways,” and it’s best when you can get 20 or 30 classic cars with similar envelopes of performance traveling in a pack.
Those of us who love cars from the ’50s and ’60s are watching enthusiasts move on to cars from a different era. More modern collector cars may lack some elements of engagement, but they offer far more in every other way.
Some good news
It’s not all doom and gloom. Certain traditional collector cars such as Ferrari Dinos are racing towards new heights. That’s primarily because they are not only fairly easy to live with, gorgeous and offer a great driving experience, but because they have cachet, prestige, swagger. You don’t have to explain a Ferrari to anyone.
Showing up in a Dino makes an instant statement that you are a sophisticated and savvy collector, adept at following the prevailing market winds. Two decades ago, if you had a restored Healey BJ8 that you had purchased at Barrett-Jackson for the staggering price of $125k, the same would have been said of you.
We’ve truly been lucky to live through the golden age of cars. If you’ve always wanted a Big Healey, now is your chance to get one at half price.