Affordable Classics
There’s no denying that classic cars are a great investment, with some of the higher profile makes and models outperforming stocks and the housing market in terms of return.
Australian-made muscle, while not reaching the stratospheric heights of post-War Ferraris, Aston Martins and the like, has been attracting six-figure sums at auction and recently hit the magical million-dollar mark, too. So where does that leave the majority of us who want to own and enjoy an classic, but don’t have that sort of money?
The answer is that you need to readjust your focus in two key areas – timeframe and model range – to find those affordable classics.
Firstly, with prices for cars from that “golden era” of the 1960s and ‘70s beyond reach in most instances, look to more recent history - cars from the ’80s, ’90s and early ’00s. Sure, some of these may not be regarded as “classic” in some circles, but they are generally more affordable and more widely available, too.
The second factor is where you look within a make or model range. It’s easy to be seduced by the hero models, but lower your eyes and you’ll usually find there are less powerful, less lavishly equipped and less prominent offerings. Just as manufacturers created this variety to cover various price brackets when new, there are options to suit similar varieties in budgets today.
Looking at locally produced cars from this period, there are already some obvious examples of rising classics, but a few that are less obvious, too.
1982 Ford XE Fairmont Ghia ESP V8
The ESP models are already in collector territory but remain relatively affordable.
Sold on its special interior trim and sports-inspired exterior features, the ESP (European Sports Pack) was really defined by its V8 engine. What made the ESP significant was that it was the last locally-built Ford with a V8 for almost a decade.
Across the XD and XE Series, around 540 ESP V8s were built. Some were 302ci V8s, but the most sought after had the 351ci Cleveland V8, paired with the 4-speed manual.
Prices have been climbing on these for a while, but at around the $50K mark for very good examples (less for the 302 and autos), they are still considerably cheaper than a ’70s Falcon GT. If you are lucky enough to find a fully optioned, concours-level car, expect to pay a little more.
After the ESP, there were arguably no collectable Falcons/Fairmonts from the 1980s, but move into the ‘90s, with the return of the V8 engine on the EB Series Falcon in 1991, and the introduction of the XR6 and XR8 on the same series, and desirability returns, too. A good XR6 or XR8 from the EB/ED/EF era is hard to find nowadays. Many have been modified and molested, but good survivors – at a good price – are still out there.
1989 HSV VN SV 5000
Think early HSVs and everyone goes for the Clubsport and Maloo. However, HSV produced much more than Clubbies and Maloos, and a good example of this is the 1989 ‘SV 5000’.
Only 359 were built, all based on the VN Commodore Berlina platform and loaded up with plenty of options. Only available in two colours, SV Racing Green and Rose Grey, the SV 5000 ran the standard GM-H 305ci (5.0-litre) V8, pumping out 200kW of power, which was pretty substantial back in 1989.
With the rise in popularity of the more common SS Commodore, and the huge interest in the VN Group A SS, the SV 5000 gives you the best of both worlds - power and pedigree! These cars have been underrated until recently. As they have become increasingly popular, prices have been driven upwards, but they remain more affordable than higher-profile HSV models.
Other off-the-radar HSVs from this period include the SV88, SV91, Formula and Manta. They may not have the performance, but limited numbers and that HSV badge will only add to their value and collectability in the future.
Offshore Movement
Reflecting the growth in popularity of Australian-made cars from the 1980s and early ‘90s, Japanese sports cars from the same era have experienced a similar spike in interest.
Some of these models, like the Nissan 300ZX, Toyota Supra and the last of the Mazda RX-7s, predate the grey import boom of the ‘90s. And with no rallying history, like the Lancer EVOs and Impreza WRX STis, they’ve largely avoided the attention of boy racers hacking them up or turning them into show cars, too.
The current price spike in the A70 and A80 Supra can be attributed directly to the introduction of the latest A90 generation version last year, while newfound appreciation for the 300ZX (a car that was mostly derided when new) can be put down to age, dwindling numbers and rising prices for the earlier 260Z and 280Z versions.
RX7s have a core of devotees ensuring their survival, meaning the later FD generation models can still be found in good condition and for reasonable money.
Cheap Luxury
Another trend in affordable collectables is the Aussie luxury car. While homegrown performance gets the spotlight in the collector arena, homegrown luxury has been largely ignored, leading to dirt-cheap prices for some late-model Fairlanes and Statesmans. The only way is up for good examples of these models.
We’ll delve deeper into this trend - and others – in the affordable collector car arena in a future instalment.
For news on upcoming classic and collectable car auctions hosted by Graysonline, go to: https://www.graysonline.com/
