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April 21, 2021
Posted By : Barrett-Jackson
Written By : Eric Becker

THE TIME IS NOW: Classic SUV Values Continue to Wow at Barrett-Jackson

THE TIME IS NOW: Classic SUV Values Continue to Wow at Barrett-Jackson

April 21, 2021
Posted by Barrett-Jackson

Written by Eric Becker

This custom 1972 Ford Bronco sold for $225,500 at the 2021 Scottsdale Auction.

This custom 1972 Ford Bronco sold for $225,500 at the 2021 Scottsdale Auction.

Blazin' hot: This custom 1971 K5 Blazer broke an auction record when it sold for $275,000 at the Scottsdale event in March.

Blazin’ hot: This custom 1971 K5 Blazer broke an auction record when it sold for $275,000 at the Scottsdale event in March.

If there was any question, we’ve entered an era where the Sport Utility Vehicle is dominant. The indictors have been ever-present, as the demand for the SUV – as well as its diminutive cousin, the crossover – continues its global ascent, and there are no signs of it slowing down any time soon. Stateside, 50 percent of all new vehicle registrations for 2020 belonged to the SUV and crossover class, completely outdistancing the sale of more contemporary sedans and other model configurations. But the thriving trend for sport utilities has leant itself to more than just new vehicles; demand for the classic go-anywhere off roaders is at an all-time high.

“We’re continually asked about ‘the next big thing’ in the collector car hobby,” said Craig Jackson, chairman and CEO of Barrett-Jackson. “The strong and sustained demand has fully established trucks and SUVs as one of those major trends. From classic to late-model, custom and imports, classic SUVs are incredibly popular among collectors today – not only for their timeless allure, but for their utilitarian purpose. They’ve evolved into the epitome of cool.”

Record-breaker: This custom 1970 International Travelall went to its new home for $102,300 at the Scottsdale Auction.

Record-breaker: This custom 1970 International Travelall went to its new home for $102,300 at the Scottsdale Auction.

Cool indeed. At the 2021 Barrett-Jackson Scottsdale Auction more than a dozen records were set for these crowd-pleasers, and the numbers speak for themselves. Take the venerable first-generation (1966-77) Ford Bronco, for example. Among the classic Broncos crossing the block this past March, the average price (with buyer’s fee included) was $120,000 – an impressive figure made all the more telling when compared to the $33,000 average price at the 2015 Scottsdale Auction. In just six years the average sale price for Ford’s premier off-roader soared an incredible 267 percent. Eight that crossed the block in Scottsdale sold for over $100,000, with the top two, a custom ‘66 Bronco (Lot #1436) and Lot #1299, another custom – this time from 1972 – knocking on the door of a quarter-million dollars.

While the Ford Bronco remains the most popular classic SUV out there, others are in hot pursuit. The Bronco’s chief rival – the Chevrolet Blazer – is quickly closing the gap. At Barrett-Jackson’s 2018 Scottsdale Auction the average sale price for the K5 Blazer was $38,000. Fast-forward to the 2021 Scottsdale event and the average sale price jumped 159 percent to $98,000. Simply put, SUVs are blazing hot.

This 1980 Land Cruiser FJ45 Pickup (Lot #990) set a new auction record when it sold for $110,000 in Scottsdale.

This 1980 Land Cruiser FJ45 Pickup (Lot #990) set a new auction record when it sold for $110,000 in Scottsdale.

The growing trend is not entirely new, either. Niche off-roaders like the International Scout, Jeep Wagoneer and varying incarnations of Toyota’s trusted Land Cruiser are becoming more and more mainstream. The 2021 Barrett-Jackson Scottsdale Auction recently saw a custom 1970 International Travelall (Lot #399.1) sell for a record-breaking $102,300, two Toyota Land Cruiser FJ45s (Lots #990 and 990.1) sell for $110,000 each and Lot #990.2, a 1990 Land Rover Defender 110 Custom SUV, stun with a final price of $143,000.

“The definition of collector cars keeps changing,” said Jackson. “Interest in trucks and SUVs is the direct result of expanding demographics in the collector car hobby. We continue to see growing interest from Gen-Xers and millennials fueling the demand for classic trucks and SUVs. It’s a signal not to be missed and manufacturers have taken note, bringing back historic nameplates like Hummer, Defender and Bronco.”

So, if the classic SUV speaks to you, move with purpose. Barrett-Jackson will be bringing you some of the best of these vehicles at future auctions. It’s a great time to be part of the collector car hobby – you won’t want to miss the 2021 Las Vegas Auction in June!

Heritage Partners