It's been well documented just how crazy the used car market is getting in the US at the moment, with some dealers even reporting selling used vehicles with 50% markups over their regular prices. It's no surprise then that classic sports cars have also seen a sharp uptick in value over the past year or so. What is surprising is exactly where these price spikes are occurring, as it turns out there are some common patterns appearing.
Insurance and data tracking firm Hagerty publish a monthly car value index, which gives a lot of insight into emerging trends in the used sports car market. For rarer cars that don't sell enough to be included on the index, tracking individual auction sales gives the best picture of the current value of each car. Using a mix of these sources, this list puts together a selection of models from all over the classic sports and performance spectrum that have shot up in value in recent months. So, without further ado, let's take a look at where collectors are investing their money.
10 Toyota 2000GT
The importance of the Toyota 2000GT cannot be understated, as it's Japan's first-ever sports car, and it's incredibly rare too, as only 351 were produced. These cars very rarely come up for auction, but when they do, they fetch big money. Most lots over the past few years have gone for just over $500,000, with a brief spike in 2013 when a single mint-condition car sold for $1.2 million.
It seems like the recent trend might be for the price to head back in that direction however, as the most recent listing in October 2020 sold for $900,000, way over what was expected considering the 2020 car wasn't as pristine as the 2013 example. Either way, it seems very unlikely that the value of any future 2000GT auctions will dip, and their value is likely to continue rising, possibly until all cars are worth as much or more than that 2013 lot.
9 Plymouth Hemi 'Cuda Convertible
Another area that's seen considerable growth in the sports and performance car market recently is classic muscle cars, with the Hemi 'Cuda Convertible, in particular, skyrocketing in price. The value of the 'Cuda gained an incredible 79% in just a few months in early 2021.
Gains that big are almost unheard of in any investments apart from the crypto market, and even with crypto those gains are likely to be a lot more volatile than in the car market. So, it seems like 2020 buyers of the 'Cuda Convertible made one of the best financial decisions of the year, whether they meant to or not.
8 Datsun 240Z
On the more affordable end of the sports car market, the Datsun 240Z has seen one of the biggest jumps in value of any low-priced classic. Since September 2020, the 240Z has seen gains of around 10%, and it seems likely that the figure will keep rising.
The Z was one of the key cars to widen the appeal of Japanese automakers in the international market, as previously they'd been seen as just churning out boring econoboxes. Notably, a similar transformation is occurring with South Korean automakers right now, so in a few decades' time there may well be a spike in the values of early Korean performance cars too.
7 Porsche 914
For many years the Porsche 914 was largely forgotten about by enthusiasts, drowned out by the never-ending wave of nostalgia for its more famous brother, the 911. It seems like investors might slowly be waking up to the charms of the 914 now, as its value has risen roughly 10% in the past year.
It's still a bargain though, as Bring a Trailer's sales graph shows: just a couple of months ago, a pair of 914s sold for just $12,000 each. That's really chump change for a car that's full of character and marks a key point in Porsche's history.
6 Lotus Esprit
The Esprit is one of Lotus' most recognizable cars thanks to its appearance in James Bond's The Spy Who Loved Me, but decades after that film premiered the model was still going strong. In fact, it was only axed in 2004, and it's these late-model modern classic Esprits that have seen a jump in price.
Hagerty's valuation puts the increase of the last-gen Esprit up around 18% over the past year. It seems like Lotuses have had a good year overall, as more modern cars like the Elise have also seen their values rise by up to 25%. With a reputation for excellent handling and a thrilling drive, it's easy to see why.
5 Nissan 300ZX
Alongside early Japanese performance cars like the Toyota 2000GT and Datsun 240Z, Japanese cars from the '90s have continued to rise in value throughout 2020 and 2021. One such model is the Nissan 300ZX, a car that was undoubtedly ahead of its time in its technological accomplishments and its smooth, sleek design.
Z32 300ZXs has increased in value by a hefty 30% over the last year, with one ultra-low mileage example selling for $57,000 in September 2021. If that's an indicator of things to come then it seems the 300ZX is a smart financial investment for the future as well as making a great addition to a JDM enthusiast's garage.
4 Ferrari F50
It might seem like buying a classic Ferrari is always going to be a great investment, but it turns out that's not the case. In fact, the overall market value for the brand decreased about 10% between a high in 2016 and the outbreak of Covid-19 in early 2020. The overall Ferrari market hasn't increased much since then, but a few select models have shot up, one being the F50.
The F50 is regarded as one of the brand's greatest modern classics, and its value among collectors is now beginning to reflect that. Prices have jumped 55% since the beginning of 2020. Granted, that means nothing to most enthusiasts as F50s were worth over a million anyway, but it's good news for the fortunate few who already owned one.
3 Porsche 911
Ah, what a surprise, another year and the Porsche 911 increases in value yet again. Joking aside, it's good to see the early 911s getting the same amount of recognition that later models have already got. The '67 model year 911 S is a particular favorite among collectors this year and has risen about 15% in value.
The 911 has cemented its status as one of the most iconic sports cars ever, although it wasn't always this way. In fact, '60s 911s were at one point so cheap that Jeremy Clarkson blew one up for a joke. With today's pricing though, that blown-up car is ironically probably still worth more than most people's daily drivers.
2 Toyota Supra Mk4
What started off as a tuner's favorite thanks to its relentlessly over-engineered build quality has slowly become a JDM phenomenon. The fourth-gen Toyota Supra is iconic, some would say infamous, and this infamy keeps its value rising year after year.
A one-owner 1995 car with just 7,000 miles on the clock sold for an unbelievable $201,000 in July 2021, pushing the value of these cars to previously unthinkable heights. Since then there's been a sharp rise in the average value of listings on sites like Bring a Trailer, and today it'll be difficult to find an unmodified Mk4 in good condition for under $50,000.
1 Dodge Viper GTS
An all-around crazy car with an 8.4L V10 engine sat under the hood, the original Viper still turns heads nearly thirty years after it first debuted. Up until recently, used prices have remained fairly affordable, but in the past year a slew of mint-condition vehicles has hit the market, and that's pushed prices upwards.
In particular, this '96 Viper GTS with just 44 miles on the clock sold in May for a whopping $160,000, a record for that generation of the car. It remains to be seen what that sale means for long-term valuations of the car, but it's very likely that they're only going to go one way: up.