The Cadillac Eldorado is a series of cars manufactured by General Motors that consists of 12 generations across five decades, from 1952 until 2002. Even today, it’s deemed a luxury vehicle and remains one of Cadillac's most iconic series, symbolizing luxury back in the fifties. The Eldorado is a combination of two Spanish words that roughly translate to "the gilded one." It was introduced during General Motors’ 50th anniversary back in 1952 when it was first released as a “Golden Anniversary” Concept car.
The 1958 Cadillac Eldorado was re-engineered and redesigned as part of the Eldorado's third-generation with the car being pretty similar to the 1957 version, but with minor tweaks. It featured technology that was uncommon at that time and included four headlights instead of the usual two. The Eldorado also incorporated an air conditioning unit, which was seldom seen back in the 1950s.
That being said, let’s find out what makes the 1958 Cadillac Eldorado so expensive.
Luxury Features
Many aspects of the 1958 Cadillac Eldorado are luxurious, especially if you consider the period in which it was being manufactured. These features are seen in both the interior and the exterior design of the car.
The Eldorado, especially the Brougham, is entirely hand-built, contributing to the luxury of the car. It is also mainly remembered for its interior design features since they are mostly for vanity and cosmetic purposes. These features included cigarette cases, mirrors, tissue dispensers, and even a perfume atomizer by Arpège.
The Eldorado continues to retain the air vents and the iconic roof made of stainless steel for the exteriors. The four headlamps and center-opening doors without pillars followed suit, together with the Dagmar bumpers and the four-person interior.
The luxurious features of the Eldorado include the air conditioning system and heating system, rare in its time. There is also power steering and power brakes installed into the vehicle, together with the multi-carburetion engine and the Hydra-Matic automatic transmission. The doors are also equipped with an air suspension system that uses a compressor for inflation. Of course, there are many other aspects of the vehicle that we can consider as a luxury, but these are the main ones.
Of course, luxury comes at a price, and buyers would have to pay for such an amazing yet classic experience. Luxury is a key contributing factor to the whopping price tag of the vehicle. Getting a fully functional 1958 Cadillac Eldorado can cost up to $200,000
Rarity
The cars in the Eldorado series throughout the 50 years of production remain relatively uncommon; there are only 400 units of the 1958 Cadillac Eldorado Brougham. This figure alone shows us how few 1958 Eldorados are in the world. The small number of units produced means that the cost would go up due to the cars' rarity.
Similarly, there are only 304 units of the 1958 Cadillac Eldorado Biarritz produced, so it is an understatement to say that this version of the Eldorado is rare. There are less than a thousand of the 1958 Eldorado, so this is a major factor in its whopping price tag. The harder an item is to obtain, the pricier it gets, and the same can be said for the Eldorado.
Similarly, we should also consider the rate of inflation since it has been six decades since its inception. The Eldorado was initially an expensive car, priced at $13,074 but that was the price for it half a century ago. The rate of inflation plays a role in the car's worth, and right now, the cost of obtaining one would be much higher than its original price.
Expensive To Restore
We know good things don’t come cheap. The 1958 Cadillac Eldorado itself is a rare car, and so are its parts. The parts needed are scarce, and you would have to pay a high price for them. Aside from the uncommon parts needed, you would also prefer to get higher quality parts which increases the cost of the restoration process.
Aside from the parts needed for the restoration of the Eldorado, there are labor costs involved. To get the vehicle restored professionally, you would need a specialist to remove and install the parts. The specialist is trained and has years of relevant experience, so you would have to fork out more money to get the restoration done perfectly.
Some things do not go as planned, so buyers should be prepared to pay even more if an unexpected issue crops up. Even if the restoration process runs smoothly, it would still take months or even more than a year to get it back to its original state, contributing to the whopping price tag of the Eldorado.