If you pay rent or a mortgage and stare horrified at the bank statement each time an instalment is deducted, you know times are harder than before certain people started wars, which sent the cost of everything we no longer make here skyward.
It must be tough in other places as well, except for a Californian beachside enclave where the differences between those who scratch to find the rent each month and those who spend millions on a whim becomes very obvious.
Monterey Car Week is a celebration of automotive excellence. It is fuelled by people who literally hand over blank cheques for the chance of winning something at Monterey’s highlight; the world famous Pebble Beach Concours ‘d Elegance.
Monterey also embraces five separate car auctions that are held during Car Week, including one based in Florida on the absolutely opposite side of the USA. Doesn’t matter. We are all friends where selling cars to rich folks is concerned.
In a place where US$1-2 million is a pretty typical ‘guiding price’, the money paid for extraordinary cars can, and does, exceed $15 million. No car sold in Australia has approached that figure, although someone did pay $11 million for a number plate.
It is also nowhere near the top price for a collector vehicle, which stands currently at US$143 Million that was paid in 2022 for a Mercedes-Benz 300SLR prototype. It isn’t even one of one though, with Mercedes keeping the other example.
Biggest money at the Monterey sales was commanded by a stunning Ferrari 250GT California roadster that exceeded its top estimate and sold for more than US$17 million (A$25M).
That result did leave followers of the second dearest car looking a bit sheepish; it being a rare 1938 Alfa Romeo that had been estimated at US$20 million (A$29.4M) but only just made the high side of US$14M (A$20.5M).
In Australia during August and on a totally different pricing planet, we saw some still lovely cars offered for sale at local events, alongside yet another record-setting number plate.
Our top price for a four-wheeled collectible got nowhere near the mega millions seen overseas. In fact, it fell a few bucks short of $250,000, while the plate went for over $390K.
The car wasn’t something most people would be taking to the shops on Saturday, either; a perfectly preserved HSV VL ‘Walkinshaw’ Group A that had been pampered since new and travelled only 38,000 kilometres in 36 years.
Second in line for the Holden enthusiasts’ dollar was an equally pristine HDT VC ‘Brock’ Commodore that had travelled around 7000km since being restored 18 years ago. It made almost $200,000.
Well below them in the sub-$50,000 segment were plenty of accessible cars that would make almost everyone happy. Heading the list from Donington Auctions most recent sale was the cutest Bugeye Austin-Healey Sprite seen in a long while, and which doubtless will be surrounded by admirers when next it appears on a Club run. It sold for exactly $50,000 plus Buyer’s Premium.
Need something that fits all the family and is guaranteed to ruin an M3 driver’s day when leaving the traffic lights? Over at Burns & Co’s August auction was a lovely example of the VX SV300 Commodore that was sold a couple of K shy of $50,000, or about 20 per cent of the money paid for the Walky.
In every respect the SV is a superior device to Tom’s Trolley; faster with more equipment and great brakes, although it must be said the two-tone seats are confronting. With 300kW pumping out of a 5.7-litre Callaway V8, this ignored investment will get itself to the far end of a 400m strip in under 13 seconds and is one of only 134 ever made.
Another car at Burns’ sale that looked the business and provided almost 7.0 litres of V8 was a very early Buick Riviera, painted in candy red but very tasteful inside. It sold for a Premium-inclusive $41,700 and would accommodate the whole family, with space in the boot for a billiard table.
Next month and for many months to come, these and other sales sites across the nation will roll out more cars that are affordable and ready to make life more interesting for anyone with an under-performing bank account.
FORD FALCON XR-XY
Australia didn’t seem fond of early Falcons until 1966 when the brawny XR series arrived to change the nation’s mind.
The XR was USA inspired, but looked nothing like earlier Falcons. This was a Mustang in family form, complete with optional 4.7-litre V8, and from mid-1967, a GT version.
Awards including Car of the Year acknowledged the big Ford’s excellence as family transport. Then in 1968 an XT version of the GT finished third outright and was the first Australian car home in the London-Sydney Marathon.
The shape changed in 1969 when the XW adopted a Mustang-style inset grille and replaced the Falcon’s trademark circular rear lights with wraparound units. The XY launched in 1970 changed very little, but offered a wider range of engine and transmission options to the mainstream Falcon range.
Basic Falcon and Falcon 500s could be specified with six-cylinder or V8 engines, three- or four-speed manual or automatic transmission. If a car was specified with a V8, power-disc front brakes were mandatory.
These cars today have become exceptionally scarce – some do survive as original or replica Police pursuit cars – and prices are likely to exceed $100,000.
Dealers could also specify XW-XY Falcons with V8 engines and four-speed manual transmission plus a GS pack with extra lights, chromed wheel covers, an upgraded dash and GT-style steering wheel.
Utilities built with V8 engines weren’t common as new vehicles but have become easier to find with the passage of time. Checking the build plate to confirm authenticity is an obvious precaution, but even if the plate is apparently genuine, other measures that confirm the vehicle as a factory V8 is recommended.
Genuine V8 utes are worth significantly more than sedans, as are big-engined panel vans.
Basic six-cylinder XR-XYs that have survived intact are still reasonably rare and a little less expensive than V8s. Prices moved very significantly between 2016 and 2022, reflecting heightened demand generated by the closure of Ford’s local factory.
Values more recently have been tempered by climbing interest rates and slow clearance rates of cars initially advertised at inflated, COVID-era prices. We wouldn’t call it a slide at this stage, more a correction as vendors accept that the market has changed and the gains experienced a few years back aren’t sustainable.
HOW THE PRICES MOVED
2010
XR-XT Falcon Six 1966-68: $2200-$5500-$8500
XR-XT Falcon V8 1966-68: $2800-$7500-$11,000
XW Falcon Six 1969-70: $2500-$5400-$9000
XW Falcon V8 1969-70: $3500-$7700-$11,500
XY Falcon Six 1970-72: $3000-$5700-$9500
XY Falcon V8 1970-72: $4000-$8500-$12,500
2022
XR-XT Falcon Six 1966-68: $2200-$5500-$8500
XR-XT Falcon V8 1966-68: $2800-$7500-$11,000
XW Falcon Six 1969-70: $2500-$5400-$9000
XW Falcon V8 1969-70: $3500-$7700-$11,500
XY Falcon Six 1970-72: $3000-$5700-$9500
XY Falcon V8 1970-72: $4000-$8500-$12,500
2024
XR Falcon Six 1966-68: $8500-$22,500-$32,000
XR Falcon V8 1966-68: $14,000-$37,000-$55,000
XT Falcon Six 1966-68: $5500-$19,500-$34,000
XT Falcon V8 1966-68: I/D-$34,000-$50,000
XW Falcon Six 1969-70: $11,500-$30,000-$42,500
XW Falcon V8 1969-70: $23,000-$45,000-$67,000
XY Falcon Six 1970-72: $13,000-$33,000-$45,500
XY Falcon V8 1970-72: $26,500-$52,500-$70,000
JAGUAR E-TYPE
The most beautiful car ever made – Enzo Ferrari’s description, not mine – has endured a more erratic journey through the collector market, than any model of similar significance.
When the price of specialist sports cars surged during the late 1980s, E-Types were right there leading the way to $100,000. That climate didn’t last and E-Type values retreated by 50 per cent in the space of five years.
Cars most keenly sought then and now included early 3.8-litre roadsters and fixed-head coupes, Series 1 4.2 and Series 3 V12 roadsters.
By the late 1990s, E-Type values were back where they had been in 1985. They then didn’t move a great deal until after the influence of the Global Financial Crisis was almost forgotten.
Roadsters were first to move during the model’s 2012-18 growth spurt, following the example of Northern Hemisphere markets which were reviving their love for the E-Type and setting new price records.
These commenced in September 2013, with US$467,500 (A$687K) paid for a spectacularly restored 4.2 Roadster. That number survived for a decade until comprehensively smashed in 2023 by the US$1.19 million (A$1.74M) paid for a very early open-top 3.8-litre.
More available and affordable are Fixed Head Series 2 cars from the late 1960s. Values for these moved at a slower pace than did earlier 3.8-litre coupes, with 2+2 automatics the cheapest E-Types which typically sold for less than $100,000.
Around 4200 of the Series 2 Fixed Head Coupe were produced in right-hand drive and they are easy to find locally.
Less common and more costly are S1 coupes, of which 1583 RHD cars were made. Another 2116 V12 2+2 coupes were built for RHD markets; these likely costing less than the two-seat 4.2-litre cars.
Most erratically priced over the course of several decades have been V12 Roadsters. These are significantly heavier than the first E-Types, with performance that barely matches the early 3.8 Roadster.
Open-top V12s can still be found in our market at asking prices above $300,000. Some have been on sale for several years at that level with no prospect of selling. Before buying a Roadster, or indeed any E-Type, assess its condition and price against the Value Guide.
HOW THE PRICES MOVED
2010
E-Type 3.8 Roadster 1961-63: $36,000-$78,000-$110,000
E-Type 4.2 Roadster 1964-71: $25,000-$58,500-$85,000
E-Type 3.8 Coupe 1961-63: $24,500-$52,000-$75,000
E-Type 4.2 Coupe 1964-71: $21,500-$42,500-$65,000
E-Type 4.2 2+2 1966-71: $17,000-$36,000-$54,000
E-Type V12 Roadster 1971-75: $30,000-$68,000-$102,000
E-Type V12 Coupe 1971-75: $20,000-$37,500-$55,000
2018
E-Type 3.8 Roadster 1961-63: $38,000-$90,000-$135,000
E-Type 4.2 Roadster 1964-71: $32,000-$72,500-$115,000
E-Type 3.8 Coupe 1961-63: $28,500-$65,000-$95,000
E-Type 4.2 Coupe 1964-71: $24,500-$54,500-$82,000
E-Type 4.2 2+2 1966-71: $18,000-$42,000-$57,000
E-Type V12 Roadster 1971-75: $35,000-$90,000-$135,000
E-Type V12 Coupe 1971-75: $ 20,000-$42,500-$65,000
2024
E-Type 3.8 Roadster 1961-63: I/D-$185,000-$275,000
E-Type 4.2 Roadster 1964-71: $85,000-$145,000-$210,000
E-Type 3.8 Coupe 1961-63: $65,000-$135,000-$195,000
E-Type 4.2 Coupe 1964-71: $50,000-$100,000-$145,000
E-Type 4.2 2+2 1966-71: $35,000-$75,000-$115,000
E-Type V12 Roadster 1971-75: $70,000-$140,000-$225,000
E-Type V12 Coupe 1971-75: $40,000-$95,000-$145,000
AUSSIE CARS ON THE EDGE OF GREATNESS
Australians for longer than a lot of us have been alive, have loved locally-built performance cars.
It started with S4 Holdens, GT500 Cortinas and twin-tank Mini Coopers before moving in to a brawl for race circuit supremacy between Holden and Ford. Chrysler had a go as well, with a two-door Charger, but Holden was the brand that would take six-cylinder honours with its XU-1.
From the mid-1970s Australian carmakers tried to back away from unfettered performance, but the public wouldn’t let them. After a short pause, we went back to producing some astounding performance cars, which were rarely raced and now cost far less than those that were.
Welcome then, to a diverse group of local performance cars, spread across the four decades during which this country built some of the most interesting motor vehicles in the world.
Some models from the same era have gone on to be worth (literally) the price of a house, but these five cars offer great driving experiences for a fraction of that cost.
NISSAN R31 SKYLINE GTS
People who have enjoyed the brilliant handling and braking capabilities of Nissan Special Vehicles Skyline GTS probably wondered as well why Fred Gibson’s team didn’t push harder to have the car powered by the company’s 3.0-litre turbo engine.
Holden had it in their VL and, if installed in the GTS, the 150kW straight-six would have transformed the Nissan into an almost perfect performance car. As it was, the Skyline with 130kW could cover ground with ease and at surprising pace. The 55 profile, ZR rated rubber on 16-inch rims was more tyre than the car needed, and getting a GTS Skyline so out of shape that the tyres would squeal required a race track.
Just 200 of each version were made, with the original all-white Series 1 car selling from June-December 1988 at a list price of $33,950. Series 2 cars in red that appeared late in 1989 and were based on the Ti, so were better equipped and with four-speed automatic as the default transmission.
Finding surviving examples of either version won’t be easy, but not expensive either. A manual Series 2 car in excellent condition was offered recently by a specialist dealer for $50,000 but very good Series 1 and 2 cars have in the past sold 30 percent below that.
ED FALCON XR8 SPRINT
Ford, when launching the XR8 Sprint, obviously didn’t want a marketing debacle to match the one created by the EB Falcon GT, so launched its performance derivative of the ED with minimal fuss. The Sprint used a 192kW version of the 5.0-litre GT V8, but looked so similar to a basic XR8 that hardly anyone noticed. Wheels that were different in style from XR8 rims were the biggest external giveaway, and inside, the Sprint owner got to enjoy tailored leather sports seats, standard air-conditioning and cruise control.
The exhaust was less intrusive than the GT system, but ED Sprints would still generate a purposeful howl as the 5000rpm power peak approached. Scarcity will plague anyone attempting to track down a Sprint. Ford only built 356 of them and 56 of those were exported to New Zealand.
Values a decade ago sat below $20,000 and only began to spark once the last new Falcon had been sold in Australia. One or two cars can be expected to reach the used market annually, making the process of tracking values quite difficult. Only recently have they reappeared in Value Charts, with excellent cars continuing to hover just below $50,000.
LEYLAND P76 SUPER V8 FOUR-SPEED
Having spent seven years under the spell of my own P76 V8 four-speed, its inclusion might be seen as a Captain’s Pick, to which my response would be ‘go and drive a good one’.
Whether Leyland was spooked by political reaction to Ford’s GT-HO Phase IV isn’t known, but the all-alloy, 4.4-litre V8 came to market in seriously detuned form. The two-barrel carburettor was tiny and the single-pipe exhaust ensured performance petered out once the engine reached 4000rpm, with output a miserable 144kW.
Even so, when optioned with the same BorgWarner four-speed transmission as used in performance versions of the Chrysler Charger, a P76 V8 would run 0-97km/h in under nine seconds and overtake rapidly with an 80-110km/h time of 5.4 seconds.
Tweaking the inlet and exhaust tracts to let the alloy engine breathe made an instant difference and delivered a reliable 180-190kW,
Thanks to active Owners Clubs, P76 V8 manuals survive in significant numbers, but don’t be surprised by how few still look the same as when they left Leyland’s production line.
Despite a super-scarce Force 7 coupe being offered recently at $250,000, quality V8 sedans aren’t as yet expensive and most will change hands for less than $30,000. (Force 7 Coupe pictured)
HSV GTS VTII-VX SV300
Australia has produced some extraordinary muscle cars and this is among our best. During an era when 220kW was seen as power aplenty, HSV went to see its North American friends and came back with a motor from Callaway’s C4B programme which saw a prodigious 300kW extracted from 5.7-litre Chevrolet engines.
The version supplied to Holden was potent but tractable, unless provoked. Maximum power didn’t arrive until 6000rpm and a lot of owners would upshift well before the performance peaked.
With a 0-400m time of 12.6 seconds, the manual VTII version was the fastest four-door car in the country and not overwhelmed until the 7.0-litre W427 came along.
The bang for your buck comparison with other HSVs, and even the legendary Falcon GT-HO Phase III, is also just ridiculous.
At auction in late August 2024, a low-kilometre VX SV300, one of only 134 built and showing 117,000km, sold for a premium inclusive $48,355. An hour later at the same venue, an HSV VN GTS Group A, #187/302 and showing 125,000km brought more than three times the price of the SV300.
If you can’t see the logic in those numbers either, it might be time to give any SV300 that appears in the market a very serious second look.
CHRYSLER CHARGER E48
According to the owner of an E48 Charger featured by Unique Cars some years back, this was arguably the most enjoyable and tractable of all the triple-Weber Chargers.
Where the race-spec E49 produced 225kW from its version of the in-line 4.3-litre engine, the E48 produced a still useful 210kW. To generate its extra grunt the E49 employed a more aggressive cam profile, which manifested in to a rougher idle. Torque from the E48 at 431Nm, was almost identical to the E49’s 433Nm but was developed 500rpm lower.
The E48 was an easier car to juggle on the clutch in traffic, could be upshifted sooner and, although nobody seems to have run fuel consumption figures on an E48, likely to have been better on fuel in suburban running than the E49’s 18 to 22 litres/100km. All three levels of VJ Charger could be specified with the E48 engine and drivetrain, but few buyers bothered. Only 122 basic Chargers are said to have been built as E48s, plus 16 each of the XL and 770.
A specialist dealer in Sydney some years ago had in stock a 770-spec E48 in showroom condition showing just 11,560km. Had it been an E49 with that odometer reading the asking price would have exceeded $250,000, however, the most this exceptional example of an E48 Charger could manage was $135,000.