The return of the Ford Bronco has stirred up all sorts of excitement among fans of the legendary nameplate, which is now promising to give Jeep a run for its money with its new hardware.
But the excitement also translates into other aspects of the vehicle business such as auction houses.
Barrett-Jackson, the Scottsdale, Arizona-based auction firm, reports that it is seeing a big increase in the price of old Ford Broncos held by car collectors.
“To say the anticipation for the new Bronco was palpable would be an understatement,” Barrett-Jackson noted recently on its website.
Craig Jackson, Barrett-Jackson CEO, said since Ford first mentioned it was planning to bring back all-new Bronco back at the North American International Auto Show back in January 2017, the collector car community witnessed a surge in demand for the classic first-generation Bronco.
“Ford announcing an all-new generation of Bronco certainly added fuel to the fire of the already growing interest in the classic models,” Jackson said.
Since the announcement was made, Barrett-Jackson has seen an 88% increase in the average sale price of classic Broncos, with record sales regularly being set.
According to Jackson, a custom 1976 Bronco just brought in $195,250 at Barrett-Jackson’s “Online Only July 2020 Auction,” a record for that year’s model.
Additionally, according to a 2018 report by Hagerty, the average price of first-gen Broncos has risen 200% since 2008. Suffice to say Ford’s decision to reintroduce the serious off-roading credentials of the Bronco to the line-up was a brilliant move.
Jackson said the Bronco is not the only vehicle stirring interest among collectors. Younger collectors of what he describes as the “Play-Station Generation” is showing interest in late-model imports.
The hot-ticket items in the Barrett-Jackson 2019 Northeast Auction included a 1997 MKIV Toyota Supra, which shattered all expectations and sold for a then-unheard-of $176,000.
During Barrett-Jackson’s 2020 Scottsdale Auction, and it was BMW’s DTM-derived M3 that took center stage with quintet of 1995 E36 M3 Lightweights belonging to the late Paul Walker, selling for a combined $1,325,500. Individually, each of the five M3 Lightweights bested the previous record by more than $50,000.