You’d love to take a stab at the collector car hobby, but the thought of parting with $50,000 to $500,000 on a pristine machine from the ’20s stands in your way.
Then think simpler.
That’s the advice of Dean Kruse, head of the Kruse International auction house in Auburn, Ind., which specializes in the sale of collectible machines that have run into seven figures.
Kruse annually comes up with a “Dean’s List,” the vehicles he sees appreciating the most in value in the coming year.
But collecting cars on that level can be not only expensive but also risky–too much so for the beginner.
So Kruse has come up with a list of cars for the novice: Low-priced vehicles–think $10,000 or less. Cars meant to be driven while you see whether you enjoy the hobby.
“The fun comes from driving them. Not to Vegas and back, but everyday drivers to work and back. It makes life–and the hobby–more exciting.
“With these cars, when you sell them you break even or make a few dollars but have had fun driving them.”
Without further ado, the list:
1978 Alpha Romeo Spyder convertible: It has a great design and looks like a baby Jaguar. We sell about 15 to 20 a year. You just can’t walk down the street and find one for sale, but if you visit the Internet or search car auction ads, you can purchase one for about $4,000 to $5,000.
1963 Rambler two-door coupe: Color is important in collectible cars, and burgundy always wins over battleship gray. Get red, black or silver. Good style and good performance and now that gas is important, keep in mind these cars got 20 m.p.g. or more. There weren’t many made but you can get one now for $4,000 to $5,000.
1976 BMW 2002i two-door coupe: A fun car. The engine will roar but look down, and you’re only going 30 m.p.h. And get one with manual transmission because they are more fun to shift and drive than sitting there doing nothing, plus manuals bring more money at resale time. You can get one for $4,000 to $5,000 now.
1949 Buick Super four-door sedan: It’s a big, strong, heavy car built like a battleship that floats on the road. Ideal to load the family in for a Sunday afternoon drive. Big Buicks have been selling well (collectibles, that is). Costs about $5,000 in average condition. A perfect one would cost $10,000 to $12,000.
1988 Cadillac Allante: It came with a standard soft top and optional hardtop. The public never accepted it as the equal to a Mercedes. But it’s a neat, fun car that doesn’t cost much to own. In average condition, you can get one for about $6,000 to $8,000.
1988 Chrysler LeBaron convertible: For some reason, the bottom fell out of the market for this car the last year or two, perhaps because there have been more new open-top cars coming on the market. You can get one now for $6,000 to $8,000. At that price, it’s easy to buy one, fix it up and have fun driving it with the top down.
1948 Dodge Businessman coupe: A great running car. As much steel in one door as in an entire Yugo. Novel design with a big hump in back. Not too many were built. Costs $6,000 to $9,000.
1930 Ford Model A coupe: A great performer, and it’s easy to find parts and easy to keep running. A fun-to-drive antique. No air conditioning, but no crank start, either. $6,000 to $12,000.
1967 Ford Mustang 6 cylinder: Parts are cheap and easy to find and it’s fun to drive. Should appreciate quickly. Can’t buy a V-8 version that cheaply, and the 6-cylinder is better on mileage. The majority of Mustangs built were 6s, the reason they are available at good prices. $6,000 to $10,000.
1973 Jaguar XJ6 sedan: If you buy one, you have to know how to keep it running. Great styling, but Jaguar, Ferrari and Rolls-Royce cars are a bit temperamental and could be tricky to repair. Prestige name for a low price, and your friends don’t have to know what you paid for it. $7,000 to $8,000.
1970 Willys Jeep CJ5: Not really good for hauling anything because it hardly had the power to pull itself up a hill. Rides like a board and shakes and rattles, but it’s fun to play with off-road.
Parts availability is key to Kruse’s selections for the novice.
“The Internet has really changed the collector business and the ability to restore cars. In the past you had to hunt to find parts and now you get on the Internet and find parts for just about any car sold anywhere in the world.”
But it helps to have a mechanic friend.
“When you buy a car for $6,000, you don’t want to have to put $3,000 into repairing it so having someone who knows how to work on the car helps keep the cost down.”
If interested in the hobby, Kruse advises contacting car clubs and attending car shows as well as car auctions.
“This is where you learn about cars and their values. If there’s one thing collectors like to do, it’s share their knowledge,” he said.
Unlike the Dean’s List, this Kruse compilation is short on convertibles.
“When the top goes down the price goes up,” Kruse reminds. “The coupe you can buy now for $6,000 becomes a $15,000 investment when you buy the convertible version.”
One car missing from Kruse’s list of low-priced collectibles is the DeLorean gull wing sports car.
Its creator, former General Motors executive John Z. DeLorean, died last year at 80. Perhaps the DeLorean is absent because John Z’s passing gave the car a big boost in value?
It hasn’t risen in value or in collector demand, Kruse said, and is an example of a collector car adage that a car that’s not very good when new doesn’t get any better as it ages.
“The car had too many problems when it was new, such as leaking when it rained. DeLorean sold the car before it could be perfected in order to try to get a return on his money. Maybe if the mileage is low it might appreciate in value in about 10 years. But the car didn’t leave much of a legacy.”
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jmateja@tribune.com
