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As trucks and larger vehicles have gained popularity over the last couple of decades, the registration of vintage trucks is steadily increasing and has been going up since 2008. The demand for this niche market was highlighted by the sale of a Toyota FJ-40 Land Cruiser for almost $90,000 at a Barrett-Jackson auction at Scottsdale this past January. Toyota, with its Land Cruiser, has had the biggest model-wise growth in this niche market. Land Cruiser registrations have gone up by more than 200 percent since the year 2008. Jeeps from the 70’s and the 80’s, Ford Broncos, various Land Rover Models and International Scouts are other popular vintage trucks that are selling for much higher prices than what they were originally purchased for.
Land Rover says that more than 70 percent of vehicles made by them since the late 1940’s are still running on roads today. The Land Rover Defender is a favorite among classic car and truck, enthusiasts. According to the Forbes magazine, Los Angeles based West Coast Defenders plan to restore and sell about 100 vintage Land Rover Defenders in pristine condition at a price range of $95,000 to $110,000. For those collectors who don’t want to spend as much on a classic truck, the Toyota Land Cruiser, manufactured since 1954 in various forms like the station wagon, the convertible, utility vehicle and hard top, is more economical and easy to restore as parts are still readily available.
An analysis of data collected from 15 major auction houses over the last five years clearly indicates that the number of classic trucks sold at auctions have increased by almost 150 percent, with their average values increasing by more than 30 percent. These gas guzzlers act as an all-terrain, large distance and short commute vehicle, offering space, luxury, style, class and performance to suit each individual, or a family. With more companies lining up newer, more advanced models every year (even now available in electric and hybrid models), today’s new trucks might just be a classic in the years to come. Hold onto that road-monster, maintain it well and treat it like a companion.
To maintain your classic or vintage truck, the first thing to do is to get it insured with classic truck insurance! Contact Classic Auto today for flexible collector car insurance options that can be customized to fit your needs as a driver and owner!
Sources:
http://www.trucktrend.com/features/news/2013/163_news130425_vintage_suvs_collectors/index.html
About the Author
Drew Yagodnik is Vice President of Classic Automobile Insurance Agency, Inc. Classic Automobile Insurance Agency has been protecting collector, classic and exotics since 1992.
