With the news that 2020 Ford Bronco will be produced, the prices of the vintage ones just increased, and the car that used to cost $2,400 is an artifact these days. At the famous Scottsdale auctions last week in Arizona, the car enthusiasts spent $259.8 million in total on collectible vehicles. Compared to the last year’s event, the fans gave $9 million more mostly because there were Jaguars and Ferraris, which worth exceeded $1 million.
Those cars that cost below $100,000 on the market were sold above market sale prices, and this is true when it comes to the vehicles produced in the States like the first-gen Ford Bronco. Hagerty is a company from Michigan that ensures vintage cars and its spokesman Jonathan Klinger declared: “This interest has been surfacing for a while—the younger buyers love vintage SUVs.”
For example, Barrett-Jackson managed to sell 12 of them in Arizona, and as the chairman and chief executive officer of the eponymous action house Craig Jackson said: “Interest in them continues to grow.” And he is right. The Ford Bronco in a perfect condition costs $47,025 whereas only five years ago, you would be able to buy it for $23,400. The classic Bronco which is not flawless, but drivable would set you back $29,188 while if you bought one five years ago, you would have to pay only $14,500.
At the Barret-Jackson in Arizona, the restored 1968 Ford Bronco Custom pickup reached the price tag of $82,500 whereas the most expensive special edition of Bronco was sold in Florida last week when it went for $110,000. The wealthy millennials appear to love vintage SUVs.
The model that people are looking for the most is the one that was produced from 1966 to 1977. This is first-generation which came with a boxy design and large tires with no top in most cases. It had vinyl seats and minimalist dashboard look. Under the hood of the original Bronco, there was a straight-six engine that was good for 105 horsepower, and it was mated to a three-speed manual transmission, but later Ford added V8 units as well.
“We think of the Bronco as neither a conventional car nor a truck, but as a vehicle which combines the best of both worlds. It can serve as a family sedan, a sports roadster, a snow plow, or a farm or civil defense vehicle. It has been designed to go anywhere and do nearly anything,” said then-Ford Vice President Donald Frey in a press memo during the launch.
At the time, the Ford Bronco was quite cheap as its cost was limited to $2,404 and the early models were available in wagon, truck, and roadster versions. It was the perfect rival to the Jeep CJ-5 and International Harvester Scout, and during the first year of production, Ford manufactured nearly 24,000 examples.
Vintage SUVs such as the Land Rover Defender and Toyota FJ Cruiser were a lot more expensive, and their popularity among collectors leaped in a short period of time, compared to the vintage Bronco, which is becoming more popular and desired these days. They were not so special few years ag,o and it probably had to do something with O.J. Simpson’s infamous run.
However, this trend is changing, and the vintage SUVs are becoming more and more popular together with the today’s models – especially those vintage vehicles produced in the United States, which are cheaper than the European rivals. Klinger said: “Here in America we are an SUV culture, so for someone entering this hobby for the first time, they’ve spent more of their life in an SUV than someone in their 60s. We know that at some point this year online activity of Millennials searching for collector car values will surpass that of baby boomers.”
Of course, numerous things need to be taken into account when it comes to the prices of these vintage vehicles. Things like condition, age, mileage, engine, and restoration are all important. Some of the vehicles a rustic look that they look like new whereas some still have a rustic look and they are far from being drivable.
For example, Hemmings lists the white Ford Bronco with a pristine burgundy interior for $115,000, whereas Autotrader lists them for $21,495, $27,900 or even $77,000. So, as you see, the price depends on many factors, and you can even purchase one for less than $7,000 but that one would require a complete overhaul.
Speaking of vintage Broncos, they are so easy to drive, and their simplicity goes to their favor. Some other vintage cars are not easy to maintain, but according to Klinger, Broncos are “basically a handful of bolts on a body.”
“The mechanicals are very common—most that you need are available at your local Napa Auto Parts store—and the interiors are just a heat-laminated vinyl seat form over foam, so they’re simple and rugged,” Klinger said. “You can really get mechanical satisfaction and mastery out of working on it.”
Would you like to own a vintage Ford Bronco?